Farmers State Bank in Elkton merged with three area banks.
Farmers State Bank in Elkton merged with three area banks.

Archived Story

Area banks merge under United Farmers State Bank

Published 7:34am Sunday, January 19, 2014

After years of planning, Farmers State Bank of Elkton and Farmers State Bank of Dexter, along with branches in Rose Creek and Adams, are finally merging this weekend. The branches will be closed for Martin Luther King Jr. Day Monday, and then the banks will open as United Farmers State Bank on Tuesday.

The banks merged ownership Aug. 1, 2012, and have been working on the merger for years. Farmers State Bank of Elkton President Michael Schneider is confident customers won’t see any changes in their services.

“The services that they’ve come to expect will continue,” he said.

Schneider will be the CEO of United Farmers State Bank and Connie Hoff, currently the president of Farmer’s State Bank of Dexter, will be the bank’s president.

The bank will have four locations: Dexter, Elkton, Adams and Rose Creek, all in the current locations. All 24 full-time employees at the four locations will continue under the new bank.

“There will be no change,” Schneider said. “We’re going to keep same services in all four locations we had before.”

Still, Schneider foresees the bank being able to offer some additional services as a larger bank. The bank will soon start offering mobile bank — or banking through smartphones.

And as a $130 million bank, Schneider said the bank could be able to offer more loans and larger loans for customers.

“With that size come some advantages,” he said.

Schneider assured customers their service will continue uninterrupted during the merger.

“Our customers won’t see any kind of hiccup or bump in their services next week,” Schneider said. “We will work through weekend to ensure that doesn’t happen.”


Sign in to Comment | Need help commenting? Click here

Editor's Picks