1st Bank Merges with Farmers Bank & Trust
Officials of Farmers Bank & Trust of Magnolia, Ark., announced today that approval has been granted from the Arkansas State Banking Department for the merger of 1st Bank of Texarkana, Texas into Farmers Bank & Trust. The merger takes effect immediately and customers can expect to see signage and other rebranding to the Farmers Bank & Trust brand begin this week.
Although the banks have merged, customers of both banks are asked to continue banking at their current bank locations until the banks' systems are converted, which is scheduled for March 27. Former 1st Bank customers should continue to use their same checks, debit cards, and online banking services.
“There will be no changes to customer accounts until the conversion in March,” stated Chris Gosnell, Regional President of Farmers Bank & Trust. He continued, “Customers will receive notifications regarding the progress of the transaction well in advance of any changes. Our goal is to make this transition as smooth as possible for our new customers.” If customers have questions, they should contact their local branch.
“Farmers Bank & Trust is happy to welcome the customers and staff of 1st Bank,” stated Bob L. Burns, Chairman and Chief Executive Officer of Farmers Bank & Trust. “This presents a great opportunity for expanded service and convenience for our customers in Arkansas and Texas. We plan to continue to provide great customer service and will remain committed to all of our communities.”
Farmers Bank & Trust is a 109 year old community bank owned by the privately held holding company, Magnolia Banking Corporation, headquartered in Magnolia, Ark. With the merger, Farmers Bank & Trust now has 24 branch locations in Arkansas and Texas, and approximately $1.2 billion in assets. Farmers offers a full range of deposit services, trust and investment management services, as well as business, commercial real estate, construction, mortgage, residential and consumer loans. To learn more, visit their website at myFBTbank.com.