FFB&T Newsroom

First Farmers Financial Corporation Welcomes New Board Member

John O’Donnell has been added to the Board of Directors of First Farmers Financial Corporation, the parent company of First Farmers Bank & Trust. O’Donnell resides in Kokomo and is the owner of Reality Investors. John has an extensive background in the financial industry. He began his banking career in 1973 with Union Bank (now Key Bank) and worked there for 11 years as head of trust investments. After moving to American Fletcher Bank (now Chase Bank) in Indianapolis to work in the investment area, John returned to Kokomo with First National Bank in Kokomo as Vice President. During that time, he also formed First National Investments and served as President of the organization. In 2004, he became President and board member of First National Bank and Regional President for Harris Bank in 2006.

John is the current chairman of the Kokomo Howard County Chamber of Commerce, a Vice President of Finance of the Sagamore Council Boy Scouts of America, a board member of the Kokomo Family YMCA, and a member of the Elder Board at Fairview Baptist Church. He currently spends his time working on real estate investments and has been a client of First Farmers Bank & Trust for over 20 years.

John earned his degree from Indiana University’s School of Business and currently resides in Kokomo with his wife Patti. They have 3 children: Ann Cleary, who resides in Leesburg, VA with her husband, David and son, Will, Laura Misinec, who is currently serving as a J.A.G. Officer in Iraq with the U.S. Army with husband, Marcus, who is also a J.A.G. Officer currently serving in Iraq, and Matthew O’Donnell, who resides in Kokomo with his wife, Meagan.

New Marion Branch Holds Grand Opening Celebration

On Friday, June 19th, First Farmers Bank & Trust held an open house to celebrate the grand opening of their newest branch location at 830 N Baldwin in Marion, Indiana. This marks the 18th branch location for FFBT. The open house began at noon with a ribbon cutting ceremony with the Marion-Grant County Chamber of Commerce. Remote radio broadcasts were held by WXXC and WCJC and a light lunch was provided for those in attendance.

 

The turnout for the event was great, and FFBT appreciates everyone who came out to support the branch opening. “I am incredibly pleased with the strong turnout. I think it speaks volumes for the reputation of the organization and the aesthetics of the new facility,” states Tade Powell, Director of Marketing and Public Relations.

Michael Belcher, who joined First Farmers last summer, will serve as Branch Manager of the location. He is from the Grant County area and is excited to bring community based banking back to his Marion clients. Lanita Ferre, who has served as a teller and CSR in other branch locations, has become Assistant Branch Manager. Tade Powell, Director of Marketing and Public Relations, has relocated to this branch and is a resident of Grant County. Alicia Transier has moved from the Converse location to become the Customer Service Representative for the Marion location. For the summer, FFBT also has employed two summer interns, James Norris and Katie Smock. James has worked in the summer intern program previously and is attending Purdue University. Katie Smock is a Marion resident and is attending Indiana Wesleyan University.

First Farmers Bank & Trust Receives Miami Mike Award

On Friday, May 15th, First Farmers Bank & Trust received the Miami Mike Award from the Miami Mike Committee. The Miami Mike Award is awarded to a Miami County business that invests into their location. Recently, First Farmers remodeled their drive-up and back offices, allowing for greater access to their facilities. Accepting the award were Norman Lavengood, Senior Vice President and Director of Commercial and Agricultural Lending, and Mark Jones, Senior Vice President.

First Farmers Bank & Trust Opens 18th Branch Location in Marion

First Farmer's 18th branch office officially opened its doors at 830 N Baldwin in Marion on Thursday, May 14th.  The location represents the second Executive Branch for FFBT to be located in a retail shopping development and will anchor the new 'Baldwin Place' along with Moe's Southwest Grill.

Michael Belcher, Vice President and Commercial Account Officer, will serve as Branch Manager and Lanita Ferre will serve as Assistant Branch Manager as other staffing at the branch is being finalized.  The full service office offers complete drive-up services and 24 hour ATM access in addition to traditional lobby hours.

Please check back in the near future for more information.

FFBT wins Five Star Bank and Marketing & Advertising Excellence Awards from Indiana Bankers Association

First Farmers Bank & Trust (FFBT) was presented with two separate and prestigious awards at the MEGA conference of the Indiana Bankers Association (IBA) on April 27-29 at the Indiana Convention Center in Indianapolis.

The Five Star Bank Award was presented to FFBT President and CEO Gene Miles in recognition of excellence in five separate categories of bank performance. To receive an award, institutions must show outstanding commitment in the areas of Political Awareness, Issue Advocacy, Life-Long Learning, Volunteerism, and Community Involvement. It is the first time that First Farmers Bank & Trust has been awarded the distinction.

“We’re pleased to be recognized for the efforts and hard work of a number of our employees and directors,” said Miles. “Our organization is very proud of the commitment that we make to the communities that we serve and we are certainly appreciative to the IBA for the recognition of those efforts.”

The Bank also received a Marketing & Advertising Excellence Award (Maxi) from the IBA for its efforts in integrated electronic communication. This is the second year in a row that the Bank received the Maxi award – its 5th overall Maxi.
Maxis are awarded according to an institution’s asset size, and categories include campaign, series, electronic, and direct mail. FFBT’s winning entry recognized the innovative application of automated E-News broadcasts and interactive social media applications to complement traditional Internet banking platforms and website-based information models.

The Bank utilizes web-based applications such as Facebook and YouTube to broaden informational reach and provide more depth to product and service communication efforts.

“We’ve received the award several times over the past five or six years, but this one is particularly special because it showcases our attention to new communication models and the dynamic nature of new media applications,’ said Tade J. Powell, Vice President of Marketing and Public Relations. “We’ve been ahead of the curve in these efforts and to be cited as innovative in this medium is very rewarding.”

First Farmers Bank & Trust Follows Record 2008 with Record 1st Quarter of 2009

Converse-based First Farmers Financial Corporation, the parent company of First Farmers Bank & Trust, recently distributed its 2008 annual report and audited financial statements to shareholders, also making copies available to the general public throughout its 17 branch locations in North Central Indiana.

“The dramatic and unprecedented economic and regulatory developments during 2008 presented a significant challenge to much of the banking industry,” said Gene Miles, President and CEO. “We were proud of the fact that First Farmers determined it could serve the credit needs of our communities without public assistance. The Company evaluated the Troubled Asset Relief Program (TARP) and saw no benefit in accepting bailout funds. We were confident that we had the earnings base and ample capital to support our lending activities and capitalize on growth opportunities.”

The Company’s assets grew 8.5% for the year to $658 million, while loan balances increased 12.1% and record earnings of $7.3 million were reported. Shareholder dividends increased for the 18th consecutive year as total dividends of $1.11 per share were declared in 2009. The Bank’s equity ended the year at $72 million, a level that significantly exceeded the FDIC’s guidelines to qualify as “well capitalized.”

Most recently, the Company reported its results for the quarter ended March 31, 2009. The quarter was notable for a surge in mortgage lending volumes with origination activity nearly tripling the first quarter of 2008. A stable net interest margin, disciplined operating expense management and the growth in mortgage banking revenues were sufficient to overcome higher credit costs and a slight decline in various non-interest revenue sources. Overall earnings improved 13.4%, to $1.9 million, for the quarter and dividends of $0.28 per share were declared. The Company’s lending activities continue to benefit from a favorable marketplace with portfolio loans having grown 13.8% over the past 12 months.

“Our responsiveness and hands-on approach to lending has provided the opportunity to attract many quality clients that have been disenfranchised in recent months by policies and practices being instituted at other organizations,” said Miles.

“We have many reasons to be optimistic about the future,” he continued. “That confidence in the future is grounded in our past performance. Our investment philosophy emphasizes liquidity, simplicity, and safety rather than stretching for excess earnings; these principles served us well in a very challenging period for the industry. In addition, prudent management and lending standards have paid exceptional dividends, while our adherence to the old-fashioned standards of traditional community banking in our area of expertise has produced uncommon results.“

First Farmers Bank & Trust Company is a $663 million community bank headquartered in Converse, Indiana with 17 branches serving Cass, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Starke, Tipton, and Wabash counties, with its newest branch scheduled to open in May in Marion, Indiana. First Farmers also conducts trust, investment and brokerage activities through First Farmers Wealth Management Division and leasing activities through SCI Leasing Group.

FFBT Earns Highest Rating in the IBA’s Five Star Member Program

First Farmers Bank & Trust earned a five star rating in the Indiana Bankers Association’s Five Star Member Program. To earn five stars, the institution must exemplify outstanding commitment in the following five areas: Political Awareness, Issue Advocacy, Life-long Learning, Volunteerism, and Community Involvement.

Gene Miles, President and CEO of FFBT, will accept the award for First Farmers at the 2009 IBA Mega Conference on April 28th.

2009 Ag Client Seminar

FFBT Holds Annual Ag Client Seminar

On Tuesday, February 24th, approximately 160 agricultural clients and 30 employees gathered at the Roseburg Event Center in Marion to participate in First Farmers’ annual Ag Seminar. These seminars are meant to educate FFBT clients on a variety of different topics as well as provide an enjoyable and relaxing atmosphere.

This year’s seminar began with a brief welcome from Tade Powell, Director of Marketing and Public Relations. Our first speaker of the day was Andy Ambriole, a 2007 graduate of Huntington North High School and recipient of the FFA Star Farmer Award. Andy spoke about his projects on his farm, his use of organic farming, and what it takes to become organic. The next speaker was FFBT’s President and CEO Gene Miles. Gene informed our clients about what our economy and the banking sector is experiencing, explained the TARP program (which FFBT declined to use), and showed how FFBT is dealing with these issues in the industry. Dr. Wesley Jamison, professor of Agricultural Politics at the University of Florida spoke next. Dr. Jamison spoke about the future of agriculture: the trends, issues, and direction that agriculture will take in the coming years, and what farmers need to be aware of now. Before lunch, Damian Mason lightened the mood with some agricultural comedy.

Following a lunch provided by the Roseburg Event Center, Ken Perkins, a Senior Commercial Lender at FFBT, spoke about his recent trip to Laos. Ken spends a few weeks each year teaching Lao citizens about agriculture and farming. He checks in with a few people who are running farms and helps them with any problems or questions they may have. He has helped them grow corn and raise pigs, along with many other products.

Our key note speaker for the afternoon was Dr. Robert Fraley, Chief Technology Officer for Monsanto in St. Louis, MO. Dr. Fraley is known as the father of Round-Up Ready® crops. He spoke about the new technology that Monsanto will be introducing in the next few years and how this technology will be beneficial to farmers. We ended the seminar with a question and answer session with Dr. Fraley and closing remarks from Tade Powell.

Video from this event is available on our Facebook business page and on our YouTube page, both of which are accessible from our homepage at www.ffbt.com. Video will be available on our website in a few weeks. For full coverage, please contact your local FFBT officer or call (765) 395-3316 to request your free copy.

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.