News From Terre Haute, Indiana

Local & Bistate

May 14, 2014

First Farmers takes control of 9 BMO Harris branches

TERRE HAUTE — First Farmers Financial Corporation, parent company of First Farmers Bank & Trust, has entered into an agreement to acquire deposit relationships of nine BMO Harris Bank N.A. Indiana branches, including the branch in Terre Haute, it was announced in a press release.

Other branches include locations in Farmersburg, Sullivan, Clay City, Brazil, Carlisle, Shelburn, Marion, and Logansport.

First Farmers Bank & Trust will also acquire seven of the nine branches and retain the employees from all nine locations. The acquisition does not include any loans (other than overdraft lines of credit), commercial accounts, accounts with cash management services and certain other deposit accounts associated with those locations, the press release stated.

As of February 2014, the branches had deposits of approximately $134 million. Subject to regulatory approvals, the transaction is expected to close in the latter part of 2014.

First Farmers Bank & Trust has 24 offices throughout Cass, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Johnson, Starke, Tipton, Vermillion, Vigo and Wabash counties in Indiana and three offices in Coles and Edgar counties in Illinois.

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