Countering rumors to the contrary, William C. Talen, chairman and CEO of Farmers Savings Bank & Trust, Traer and Vinton said “The bank is not for sale”.
Talen said he is making the statement because rumors in recent weeks have been circulating that the local bank has been sold. Talen said he intends to maintain ownership of the Traer and Vinton banks.
Talen purchased the Traer bank in 1974 and the Vinton bank in 1988 and merged the two banks in May 2008. Talen stated “Our strategic plan is to retain ownership and remain an independent family owned, locally controlled bank”. By family, he means the ownership of his family, and the family of bank officers and employees through an Employee Stock Ownership Plan. The bank was chartered in June 1915 and has continued to provide customer service and current technical products for 103 years.
Darlys Hulme, president, stated that we have staff members at both locations with many years of experience, who can continue to provide excellent service to our customers.
Talen pointed out that the continued increase in deposits and loans is evidence of community support for our independent bank.