Gene Miles, C.E.O. of First Farmers Financial Corp. and its principal subsidiary First Farmers Bank & Trust, announces that the acquisition of C.B. Bank Shares, Inc. (“CB”) and its principal subsidiary Central Bank, of Russiaville, Indiana was completed on Friday December 4, 2009. The offices of Central Bank in Russiaville and Kokomo have become branches of First Farmers Bank & Trust.
Commenting on the transaction, Mr. Miles stated: “We are very pleased that we have completed our transaction with Central Bank. We appreciate the efforts put forth by the officers, employees and board members at Central to facilitate the merger. We look forward to working with Central Bank’s officers and employees to continue serving the Russiaville and Kokomo communities.”
In addition, First Farmers Bank & Trust announces 3rd quarter financial results for the corporation and a planned expansion of the corporate offices in Converse. Earnings for the nine months ended September 30, 2009 were $6.0 million, or $3.40 per share, 6.3% ahead of 2008. A 7,700sq ft expansion is under construction to house expanded Information Technology and Bookkeeping departments. The area will include office space, a conference center, break room, restrooms, and technical areas for new mainframe systems and network server. Completion is expected by 2nd quarter of 2010.
Commenting on the transaction, Mr. Miles stated: “We are very pleased that we have completed our transaction with Central Bank. We appreciate the efforts put forth by the officers, employees and board members at Central to facilitate the merger. We look forward to working with Central Bank’s officers and employees to continue serving the Russiaville and Kokomo communities.”
In addition, First Farmers Bank & Trust announces 3rd quarter financial results for the corporation and a planned expansion of the corporate offices in Converse. Earnings for the nine months ended September 30, 2009 were $6.0 million, or $3.40 per share, 6.3% ahead of 2008. A 7,700sq ft expansion is under construction to house expanded Information Technology and Bookkeeping departments. The area will include office space, a conference center, break room, restrooms, and technical areas for new mainframe systems and network server. Completion is expected by 2nd quarter of 2010.
