Farmers Bancshares, Inc. Holds 29th Annual Shareholder Meeting

Shareholders
Shareholders

Farmers Bancshares, Inc., a one-bank holding company of Farmers Bank, held its 29th Annual Meeting on April 16th, 2014 at the Pomeroy Retail Branch of Farmers Bank. An estimated 100 shareholders of Farmers Bancshares, Inc. gathered together to discuss the present and future of Farmers Bank and to enjoy each other’s company.

Highlights of the annual meeting include:

– Dave Weber, member of the Farmers Bank Board of Directors, acknowledged the recent changes that we have seen as a company from enhanced business operations to newly constructed and renovated buildings. He stressed that the foundations for this growth were in place long before this year. He credited our success to the support of the shareholders, the talent of the management team and the dedication of the employees.

– Paul Reed, President & CEO, explained that the challenges we are facing as an industry are enormous and that the community bank model is being threatened. He further explained that Farmers Bank employees are working every day to keep us strong. Through creativity and dedication to customer service, our employees continue to push the bank towards solid performance and growth.

– Shawn Arnott, Cheif Financial Officer, recognized the challenges that the bank faces but stressed the importance of the consistent results and performance of the bank.

– Mark Groves, Cheif Operations Officer, expressed that the only constant is change. This year the bank experienced substantial changes with technology and facilities. Over the last 10 years, many things have changed but Farmers Bank continues to grow. The bank is doing this with a more efficient staff, more sophisticated technology and better communication systems.

– Mike Lieving, Cheif Lending Officer, announced that the lending team is excited about new technology that will speed up and improve the loan processes and enable the bank to accept on-line loan applications. He closed by saying that Farmers Bank is still in the business of making dreams come true.

– Woody Stines, Special Assets Manager, acknowledged his retirement at the end of the year and expressed gratitude to the bank and his co-workers. He compared experiences from earlier in his career and highlighted that the spirit and values of Farmers Bank far surpass those of other institutions.

During the meeting, shareholders approved the re-election of Theodore “Tom” Reed and Dr. Jared Sheets to serve on the Board of Directors for Farmers Bancshares, Inc.