FFB&T Newsroom

First Farmers Bank & Trust Attends Hoosier Heartland Highway Gathering

In late October, Kathy Jones and Doug Wilcox joined several other business members in the area to celebrate the groundbreaking for the last leg of the Hoosier Heartland highway project. This project began in the early 1970s and was headed by Glenn Tanner, Jack Porter, and Phil Magner. After over 30 years of discussions, funding, and construction, the last leg of the project is beginning in Lafayette. Surviving founder Phil Magner was present at the event, along with Jack Porter’s widow Naomi. During the ceremony, Governor Mitch Daniels spoke and broke ground. Afterward, he signed the shovels and gave them to the Magners and Naomi. This project has and will continue to bring new businesses and travelers to the areas between Lafayette and Huntington and will help promote the safety of all those traveling on this highway.

FFBT Sponsors Event Featuring NBA Hall of Fame Member Clyde Lovellette

On September 22nd, First Farmers Bank & Trust sponsored, and Wabash branch manager Kathy Jones attended, a special event held to promote needed gym and pool renovations at White’s Residential and Family Center. What made this event so special was that Clyde Lovellette, former coach and teacher at White’s and also an NBA Hall of Fame Member, was the featured speaker. Lovellette was the first basketball player in history to play on NCAA, Olympic, and NBA championship teams, and during his career scored 11,947 points and grabbed 6,663 rebounds. The evening began with a welcome and prayer from White’s CEO, followed by dinner, and a speech from Lovellette. After dinner, Clyde stayed for a picture and autograph session. His attendance truly made for a great evening, and First Farmers Bank & Trust was proud to sponsor this event.

New Branch in Grant County

First Farmers Bank & Trust (FFBT) recently announced plans to establish its first branch office in Grant County with a commitment for an Executive Branch Office at 828 North Baldwin Avenue in Marion, which is expected to open by the first quarter of 2009.  The branch office, which will be located in the Baldwin Place retail development, is the second FFBT office to be a non-traditional retail space rather than a stand-alone facility.

“The Executive Branch Office model is one that has worked very well for us in Huntington and allows us to be operational in Grant County in a very short period of time,” say Michael Belcher, Vice President and Commercial Accounts Officer.  “Traditional stand-alone buildings can be excellent facilities but the central point of establishing a presence in a market is to provide what best suits the community in both the short and long term.  This operation gives us an immediate presence and allows time to establish a more comprehensive plan for future operations in the area,” he added.

“Marion and Grant County have been on our radar for the better part of 20 years,” says Gene Miles “But you always want to make sure you have the best personnel and product delivery in place before you start entering a new market.”

“With our corporate offices in nearby Converse, we’re confident we can provide a community banking model for the area that clients will appreciate.  This community is very loyal and respects organizations that place a high value on customer service.  We feel that our style of operation fits well in that area, and we’re fortunate to have people working for us that are dedicated to the local community,” adds Miles.

First Farmers Bank & Trust declines Fed “bailout” funding

First Farmers Financial Corporation, the parent company of First Farmers Bank & Trust, announced that the bank will not participate in the government TARP Capital Purchase Program. The board stated that despite economic uncertainty, First Farmers believes their adherence to long held strategies of serving local depositors and borrowers will continue to reward stockholders, customers, and employees and that Bank capital remains significantly above levels designated “Well Capitalized” by regulatory guidelines. The bank continues to generate earnings sufficient to support current and expected dividends, and retains earnings to support future growth expectations.

The board did announce that First Farmers will participate in all available Temporary Liquidity Guarantee Programs allowing customers to benefit from extended FDIC Insurance for all depositors. This includes the increase in coverage to $250,000.00 in FDIC insurance, unlimited coverage of non-interest bearing demand accounts, and guarantee of inter-bank lending facilities

Jeffrey Cole Bennett, son of Greentown’s Tammy Bennett Graduates from Basic Training

Jeffrey Cole Bennett, son of Jeff and Tammy Bennett, recently graduated from the Great Lakes Naval Recruit Training Command at Great Lakes, IL. Bennett was instructed in Naval history, Naval protocol, shipboard damage control, firefighting, physical training, and firearms during his eight weeks of basic training. During his training, Bennett also qualified as a sharpshooter and will spend 11 weeks studying information technology at Pensacola Naval Base.

Bennett is a 2008 graduate of Eastern High School, and his mother, Tammy, works at the Greentown branch of First Farmers Bank & Trust.

New Officer Additions

In November, First Farmers Bank & Trust welcomed a new addition to the Loan Department in Converse: Michael Murphy. Michael will serve as a Loan Operations Specialist and Assistant Vice President of Commercial and Agricultural Lending at the Converse office. Before coming to the bank, Michael spent 7 months deployed in Iraq, serving in the Marine Corps Reserve. He is currently attending Indiana University-Kokomo, majoring in Finance, and expects to graduate within the next year. He is excited to be a part of the First Farmers Lending Team and looks forward to learning as much as possible. He grew up in Greentown, and currently resides in Kempton with his wife Sara.

Also in November, First Farmers Bank & Trust welcomed Jeff Rodibaugh to the Lending Team in Converse. Jeff will serve as Commercial Account Officer and Assistant Vice President. His previous work experience includes seven years as an Agricultural Engineer and Environmental Consultant with Livestock Engineering Solutions, Inc. where he served as a consultant and current environmental issues specialist to livestock producers and local lawmakers in every region in Indiana. He received a Bachelor of Science Degree in Agricultural and Biological Engineering from Purdue University, specializing in Environmental and Natural Resources Engineering. Jeff grew up on a diversified grain and purebred swine operation in Rensselaer, and currently resides in Tipton with his wife Amber and their two young children.