First Farmers Bank & Trust, one of Indiana’s top 15 largest chartered banks, is set to open a new branch in Lebanon, pending state and federal approvals.
“Lebanon is growing and thriving, so we saw a real need for a local, trusted community bank in the area. We look forward to fostering longstanding relationships with new and current customers alike while serving the community through our continued commitment to heart and grit banking,” said Rick Isenhower, Vice President, Senior Commercial and Ag Lender. Isenhower, who is also on the Board of Directors for the Boone EDC and its former president, emphasized the bank’s dedication to community involvement.
The new branch will be located inside the Lebanon Gateway Shops complex at the intersection of State Road 32 and I-65. The complex, which opened in 2021, spans nearly 25 acres and hosts a variety of storefronts. The branch will be designed by K4 Architecture, the same firm working on the upcoming First Farmers Bank & Trust branch in Carmel, Indiana.
“Expanding our newest bank branch into Lebanon and the surrounding Boone County area was an easy choice for our team,” said Mark “Doc” Holt, President and CEO. “We are eager for this new opportunity to provide our services to local Lebanon customers, as well as those in Montgomery and Hendricks County, while remaining true to our agricultural roots as a community bank.”
The Lebanon branch, expected to open in late Q4 2024, will be the bank’s 38th location across Indiana and Eastern Illinois.
“Lebanon and the surrounding area fall directly in line with our goal and strategic vision of growing the bank,” said Tade Powell, Senior Vice President and Director of Communications and Public Relations. “We recognize the massive economic development underway across Central Indiana and being a part of this growth is very exciting as 2025 will mark our 140th year in business.”
First Farmers Bank & Trust has seen significant growth over the past year. The bank’s first-quarter dividend of $0.48 represented a 4.3% increase over the dividend declared in March 2023. In 2023, earnings per share increased by 11.8% to a record $6.57 per share, marking the sixteenth consecutive year of record earnings. The bank’s assets surpassed the $3 billion mark for the first time in 2023, highlighting its continued asset growth.
With this new branch in Lebanon, First Farmers Bank & Trust continues its commitment to community-focused banking and supporting local economic development.