First Farmers Bank & Trust Rates Tops in Banking; Reports Record Growth
Posted Under: Credit Union
First Farmers Bank & Trust Rates Tops in Banking; Reports Record Growth
Aug. 25 — First Farmers Bank & Trust, Converse, Indiana takes great pride in receiving a 5-Star Superior rating for financial strength and stability from BauerFinancial, Inc., Coral Gables, Florida. “5-Stars” is the highest rating attainable from BauerFinancial, the Nation’s Premier Bank Rating Firm for over a quarter of a century, and is based on the overall financial picture of the institution. Earning a 5-Star rating indicates that First Farmers Bank & Trust is one of the strongest banks in the nation.
First Farmers Financial Corporation, holding company for First Farmers Bank & Trust, recently released a financial statement of condition as of June 30, 2009 that included overall loan growth of $52.2 million, an 11.1% increase from the same period the previous year. Deposits also increased 13.2% to a record $546 million and the Bank’s growing capital base continues to substantially exceed requirements to meet the standard of “Well Capitalized,” the highest regulatory rating.
BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on an analyzing the performance of US banks and credit unions since 1983. Consumers may obtain star-ratings by visiting www.bauerfinancial.com
Established in 1885, First Farmers Bank & Trust has been serving the banking needs in Central Indiana for 124 years. It currently operates through 18 conveniently located offices and can also be found on the internet at www.ffbt.com.
SOURCE First Farmers Bank & Trust
