First Farmers Bank & Trust to Acquire Citizens Exchange Bank

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Citizens Exchange BankFirst Farmers Financial Corporation, holding company of First Farmers Bank & Trust (“First Farmers”), and Century Bank Corp., holding company of Citizens Exchange Bank (“Citizens”), today jointly announced the signing of a definitive agreement in which First Farmers will acquire Citizens. Citizens Exchange Bank will be merged into First Farmers Bank & Trust as part of the transaction.

First Farmers, while headquartered in nearby Converse, is a regional leader in agricultural and community banking in the Midwest.  On September 30, 2015, First Farmers had $1.47 billion in assets and operated 36 community bank branches in Indiana and Illinois.  Citizens had $60 million in assets and operated from its single location in downtown Fairmount. The transaction is expected to close in the second quarter of 2016, subject to regulatory approval and other customary conditions.

Gene Miles, President and Chief Executive Officer of First Farmers stated, “Citizens Exchange Bank is simply an exceptional bank and an organization that we have always respected as a competitor. Their leadership and employees have upheld the values and ideals of community banking and we see this as an outstanding partnership between our organizations. First Farmers Bank and Trust has served a variety of businesses and individuals in communities very similar to Fairmount and we are very confident of our ability to provide excellent customer service to the area”.

Tim Selby, Chairman of Citizens stated, “The Selby Family appreciates the community support we have had the last 122 years. Although we are selling control of the bank to First Farmers, both the community orientation and many of the familiar faces will remain. Our family is confident that the community will be very well served by First Farmers who, given the increasingly complex nature of banking, is well positioned to provide the most up-to-date services and resources to meet the higher credit needs of local farmers and businesses.”

In connection with this transaction, Renninger and Associates LLC served as financial advisor and Bingham Greenebaum Doll LLP served as legal counsel to Citizens. Hunton Williams LLP served as legal counsel to First Farmers.

Welcome to the Team!

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We are excited to introduce two new members to the FFBT team!

Jodi Clark

Jodi Clark has accepted the position of Director of Data Processing. She will be working out of our Kokomo Square location.

 

Be sure to welcome our new employees the next time you stop in to either of these locations! And stay up to date on all of our employment opportunities by visiting our Current Openings page on the website!

 

 

 

First Farmers Financial Corp. Declares Dividend

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Converse, Ind., September 11, 2015 -- First Farmers Financial Corp. (OTC PINK:FFMR), the parent company of First Farmers Bank & Trust Co., announced that on September 8, 2015 the Board of Directors approved a quarterly cash dividend for the second quarter of 2015 of $0.30 per share, payable on October 15, 2015 to shareholders of record as of September 30, 2015. This quarterly dividend represents an 11.1% increase over the quarterly dividend declared in September 2014.

First Farmers Financial Corp is a $1.47 billion financial holding company headquartered in Converse, Indiana. First Farmers Bank & Trust has 29 offices throughout Carroll, Cass, Clay, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Johnson, Starke, Sullivan, Tipton, Vermillion, Vigo and Wabash counties in Indiana and 8 offices in Coles, Edgar and Vermilion counties in Illinois.

First Farmers Bank & Trust establishes endowment for HU Ag Institute scholarship

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Media contact: Vincent Haupert, Vice President for Advancement, (260) 359-4089, vhaupert@huntington.edu 

Written by: Lauren Frischman, university student worker

FOR RELEASE August 6, 2015

HUNTINGTON, Ind. — First Farmers Bank & Trust has given Huntington University a gift of $5,000 and have pledged future gifts totaling $20,000 to fully endow a scholarship for the Haupert Institute for Agricultural Studies by the end of 2018. “With our roots heavily invested in the agricultural industry, it seemed like a natural fit to promote and support the Haupert Institute for Agricultural Studies,” said Mark Wolf, First Farmers Bank & Trust Senior Vice President. “Developing new talent in the agricultural sector will be paramount in maintaining the competitive advantage the United States has in producing food and fiber for our world. We are pleased and consider it a privilege to partner with Huntington University in this mission.”

Founded in 1885, First Farmers Bank & Trust has steadfastly committed itself to preserving the traditions of rural banking and bringing that style of service to new markets. The privately-held financial institution is dedicated to serving its communities with state of the art banking products with old fashioned service. First Farmers Bank & Trust now serves over 50,000 clients throughout Indiana and Illinois.

“Financial support to launch the Haupert Institute for Agricultural Studies has been outstanding,” said Vincent Haupert, Huntington University Vice President for Advancement. “First Farmers Bank & Trust takes the next step to establish the first, fully endowed, student scholarship to incentivize and benefit our Ag students. We are so blessed by their direct support for our students pursuing a successful career in the Ag industry.”

First Farmers Bank & Trust recognizes that its true sources of strength are local communities, which drives its efforts to give back through support for organizations working to strengthen local families and communities, such as Huntington University.

“Seeing First Farmers Bank & Trust support the new agriculture program is a great encouragement as we blaze this new path for Huntington University and for Christian higher education,” said Dr. Raymond Porter, director of the Haupert Institute for Agricultural Studies. “Not only that, this scholarship will also help students pursue a four-year degree in agriculture from a faith-based perspective in a personal, small-college environment. I suspect it may make the difference for students who want to come to HU to study agriculture, but who need some financial help to pursue that dream here. I’m thankful that First Farmers wants to help make it possible for such students—it speaks well of their name and their vision.”

The Haupert Institute for Agricultural Studies at Huntington University promotes a Christian perspective on agriculture, which recognizes a responsibility to be good stewards of God's creation and to examine questions of sustainability and justice.  The program is intended to meet the growing need for agribusiness professionals and is anticipated to include concentrations in business innovation and entrepreneurship, communication and public policy, crop production, agricultural education, and ministry and missions. For more information about the program, visit www.huntington.edu/agriculture.

 

Huntington University is a comprehensive Christian college of the liberal arts offering graduate and undergraduate programs in more than 70 academic concentrations. U.S. News & World Report ranks Huntington among the best colleges in the Midwest, and Forbes.com has listed the university as one of America’s Best Colleges. Additionally, Princeton Review has named the institution a “Best Midwestern College.” Founded in 1897 by the Church of the United Brethren in Christ, Huntington University is located on a contemporary, lakeside campus in northeast Indiana. The university is a member of the Council for Christian Colleges and Universities (CCCU)

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For text of this and all Huntington University news releases, visit www.huntington.edu/news.

First Farmers Bank & Trust to Expand to Carroll County, IN

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(Converse, IN) First Farmers Financial Corp., parent company of First Farmers Bank & Trust, has applied to the Federal Reserve Board for permission to establish a bank branch in Flora, IN. The Federal Reserve considers a number of factors in deciding whether to approve the application including the record of performance of applicant banks in helping to meet local credit needs. First Farmers Bank & Trust is one of nation’s largest agricultural banks with 36 branch offices in Cass, Clay, Grant, Hamilton, Howard, Huntington, Johnson, Madison, Miami, Tipton, Vermillion, Vigo and Wabash counties in Indiana and Coles, Edgar and Vermilion counties in Illinois.

Gene Miles, President and Chief Executive Officer, First Farmers Bank & Trust: “Our strength in agriculture and our history in central Indiana both make Flora a logical place for placement of an operational bank. Carroll County is an ideal area for us and we’re excited to serve its communities.”

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