FFB&T Newsroom

FFBT Went to China!

In late summer of 2011, First Farmers Bank & Trust gained a great deal of media attention for the coordination of an international exploratory visit to the People’s Republic of China. For almost two weeks, a diverse group of FFBT directors, management personnel, select clients, and industry and elected officials traveled in an attempt to better understand the inherent links of developing agricultural processes, technology, and trade with the most populist nation in the world. 

The scheduling and logistics of the event were coordinated by FFBT in cooperation with the Chinese government at the direction of key FFBT clients with agricultural investments in varying parts of the country. A comprehensive travel itinerary kept the entire party quite busy and allowed the group to log over 4500 miles in transit and within the country itself.  A variety of facilities specializing in food production, processing, and distribution were visited along with tours of cultural and civic entities in different regions to better understand the diverse standard of living that exists in various parts of the country. 

“You simply can’t begin to comprehend the future of the global agricultural industry without properly examining the dynamics that exist in the Far East.  Given our level of involvement in the ag industry, it is simply a necessity to better understand the impact that China will continue to have on the global marketplace for food" stated Gene Miles, President and Chief Executive Officer of First Farmers Bank & Trust.  “We certainly enjoyed the experience, but given our scheduling and travel, this was clearly not a relaxing trip. However, we have a much better understanding of the stage of development that various provinces are in, and we definitely better recognize the relevance of their efforts and commitment to feeding a staggering population. It was incredibly rewarding, and I think it has really given us a perspective on the central differences between cultures in the realm of agriculture".

4th Quarter Employee Updates

The 4th Quarter of 2011 was a busy year for employee promotions, transfers, educational advancements, and retirements.  Most recently, Jennifer McConahay made the move to become a Mortgage Lender for the Converse and Marion areas.  She's been working in the mortgage department in Converse for a little over a year and is excited about her new position!

 

 

Melody Scalf has decided to take an open position in the Internet Banking Department.  This is a recent change for Melody, who started as a Mortgage Loan Clerk at the bank over 2 years ago, and she's looking forward to helping customers with their Internet Banking and eStatement questions and needs!

 

 

Ben Barnett has been promoted to Loan Review Specialist in Converse to take over for Linda Rodgers following her retirement.  He started with the bank a little over a year ago as a Teller at the Peru River branch.  He graduated from Indiana Wesleyan University with a Bachelor's Degree in Business Administration and is looking forward to learning more about his new position.

 

 

During the summer, Paul McCann attended and graduated from the Indiana Bankers Association's Commercial Lending School.  The program takes place at the IBA's Center for Professional Development and each IBA education program is carefully designed under the direction of experienced bankers, academicians, regulators, and industry consultants. 

 

 

At the end of the year, two employees decided to retire from the bank after many years of service.  Carol Ploughe retired on December 2nd after over 38 years of service.  During that time, she held various positions and played an integral role in the bank's success.  At retirement, she was serving as the IRA Specialist for all of our locations.  We are very thankful to have such a person as part of our team for so long and we appreciate everything she's done during her time here.  Her retirement party wa held on December 2nd and many stopped by to say congratulate her.  Carol is excited for her retirement, but said she would miss seeing all of the friends she's made on a daily basis.

 

 

And just last week, Linda Rodgers retired from FFBT after over 33 years in banking.  She has worked for several different banking institutions over the years and has gone through three mergers.  Linda has held various positions over the years including Mortgage Officer, Branch Manager at the Peru River Location, and most recently, Loan Review Specialist in Converse.  She is looking forward to being more involved in different activities and has enjoyed working with everyone in the community and at the bank.  Her retirement party was held on December 22nd in Converse and many stopped by to see her on her last day.

New Faces at FFBT!

In the 4th Quarter of 2011, we welcomed several new employees at our various locations.  Learn a little more about them below!

Charisse Johnson is the new Branch Manager and Mortgage Loan Officer in Elwood.  She has over twenty years of experience in lending & banking.  Charisse has held various titles with other financial institutions, such as Personal Banker, Branch Manager, Account Executive, and Loan Officer.  She is looking forward to starting her career with FFBT and getting to know members of the community.

 

 

Jarrod Smith has filled the position of Customer Service Representative and Teller at the Wabash branch.  He is a graduate of the Indiana Institute of Technology and is looking forward to beginning his career in the banking industry.

 

 

Britney Parsley is the new Customer Service Representative and Teller at our Kokomo North branch.  She came to us with several years of experience in banking.  She is involved in many different local organizations in Howard County and grew up in the area. 

 

 

 

Faith Plank has accepted the position of Customer Service Representative in Greentown.  Faith is attending Ivy Tech Community College, where she has already obtained an Associate’s Degree in Business Administration.  She is looking forward to getting to know her coworkers and customers in Greentown! 

 

 

 

Amy Williams is a new Teller at the Tipton location.  She might seem like a familiar face because she has been with us in the past.  Amy worked for FFBT as a Teller at the Tipton branch from 1999 to 2004, and decided to stay home and raise her family.  Amy is excited to be back at the bank, and we are glad to have her! 

 

 

Amanda Larmer is a new float teller.  She travels to our South and Central branches as needed and is currently helping to open accounts at our Kokomo South branch.  She comes to us with around 7 years of experience in customer service, sales, and cash handling and is from the Galveston area. 

First Farmers Financial Corporation Announces Agreement to Acquire First Citizens of Paris, Inc.

Converse, Indiana and Paris, Illinois, December 14, 2011 - First Farmers Financial Corporation, Converse, Indiana and First Citizens of Paris, Inc, Paris, Illinois, announced today that they have signed a definitive agreement under which First Citizens of Paris will merge into a subsidiary of First Farmers.  First Citizens of Paris is the holding company for Citizens National Bank of Paris, which will be merged into First Farmers Bank & Trust, First Farmers’ wholly-owned subsidiary bank.

 

At September 30, 2011, First Farmers had $875 million in assets and operates 20 branches in eleven counties throughout North Central Indiana.  First Citizens had $205 million in assets and operates two branches in Paris, Illinois, one in Oakland, Illinois, and one in Terre Haute, Indiana. 

 

Under the terms of the agreement, First Farmers will pay First Citizens’ shareholders cash equal to 101% of adjusted book value at the effective date of the transaction.  At September 30, 2011, First Citizens had a total book value of $19.7 million which, net of $3.0 million of adjustments to the carrying value of specifically identified assets, equals adjusted net book value of $16.7 million.  Based on 215,679 shares outstanding, First Citizens’ shareholders would have received $78.12 per share if the transaction had been consummated as of September 30th.  The transaction is expected to close late in the first quarter or early in the second quarter of 2012.

 

Gene Miles, President and Chief Executive Officer of First Farmers stated, “This agreement represents a cooperative effort to bring two outstanding community banks together in a very progressive way. We look forward to working with the staff of First Citizens to build on their exceptional record of community involvement while learning how we can best serve the Greater Edgar, Coles and Vigo County markets.  We are especially excited to expand on First Citizens’ agricultural customer base given our organizations historic strengths in the industry. The markets served by First Citizens  are very similar to those that we have served since 1885 and we are very confident that the philosophy of our organization will fit in well in these communities.  Our strong capital position and earnings history has allowed us to continually extend our geographical reach but our commitment to community banking is what has allowed our organization to prosper in markets such as these.” 

 

Bill Minnis, President and Chief Executive Officer of First Citizens added, “First Farmers provides the financial strength and resources that will allow us to better serve our customers and communities, particularly our agricultural customers and rural communities.  Their banking philosophy and commitment to community banking matches our tradition of providing outstanding customer service and active community involvement and support.”

 

In connection with this transaction, Mike Renninger of Renninger & Associates, LLC acted as financial advisor, and Tom Blank of Shumaker Loop & Kendrick, LLP served as counsel to First Farmers Financial Corp.  Scott Martorana of FinPro, Inc. acted as financial advisor, and Ted Eissfeldt and Joe Hemker of Howard & Howard Attorneys PLLC served as counsel to First Citizens of Paris, Inc.

 

For further information regarding this release please contact Gene Miles at 765-395-3316 or Bill Minnis at 217-465-7641.

Alex Ringeisen Wins Local Art Competition

10 Year Old Alex Ringeisen, the son of FFBT Amboy Branch employee Melody Ringeisen, was recently chosen as the winner of a Holiday Banner Art Competition in his age group.  He was presented with an award on November 16th from Mayor Jim Walker at the Honeywell Center and the winning banners are now on display on the lightpoles throughout downtown Peru.  The Honeywell Center only chose 16 art pieces in all of Miami County! Congratulations Alex!