Page 27 - 1Q 2018 Reporter

Members In The News

Laura State Bank Merges with the

Bank of Farmington

The Bank of expand our market through joining with a
Farmington and well-established financial institution with a
Laura State bank strong presence in Williamsfield,” says Higgs.
has announced that “This location is a natural fit with our strategy
they have signed an of operating a community bank focused on
agreement for the meeting local needs.”
merger of Laura State He also added that Laura State Bank has
Bank into the Bank of a base of loyal customers in its market and a
Farmington. reputation for excellent personal service and

The announcement was made in Farmington steady earnings.
by Joseph L. Higgs, President of the Bank “We are proud of our efforts to provide high
of Farmington, and in Williamsfield by Mary quality banking services to our customers,”
Thompson, CEO of Laura State Bank. says President of Laura State Bank, Charles
Though specific financial terms were not Thompson. “Our fine staff has enabled the
disclosed, Farmington Bancorp Inc. will acquire Bank to provide quality banking service in
all of the stock of Laura State Bank for cash, a great area of the state,” he says. “Bank of
followed by the merger of Laura State Bank into Farmington is a fine institution that will be

the Bank of Farmington. able to provide a wealth of new products
and services for our customers that will
Higgs says the Bank of Farmington intends
[also] provide real benefits to them and the
to maintain Laura State Bank’s office in
community.”
Williamsfield as a new branch office and to
retain all of its current officers and employees. The transaction is expected to close in the first
quarter this year.
“This represents a unique opportunity to

Marion County

has a new

mailing address.

PO Box 5
Salem, IL 62881

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March 2018 IllInoIs RepoRteR