YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Bolivar-based Farmers Financial Corp., the parent holding company of Farmers State Bank, recently agreed to be sold in a deal expected to close in the second quarter.
The buyer is Clayton-based Stark Bancshares Inc. The stock purchase agreement for undisclosed terms is contingent on regulatory approvals, according to a news release.
Thane Kifer agreed to stay on as president and a board member for Farmers State Bank.
“While most bank acquisitions result in the acquired bank becoming simply a branch location of a larger institution, Farmers State Bank will remain a fully chartered, independent bank, just has it has been since 1910,” Kifer said in the release.
Farmers State Bank posted $62.8 million in assets as of Dec. 31. It operates five branches.
Kifer also is the developer behind Bolivar mixed-use development The Vineyard, where a Best Western Plus Vineyard Hotel and Suites is scheduled to open in May.
Attending what he estimated was at least his seventh Springfield Area Chamber of Commerce Community Leadership Visit, Jeff Childs, senior adviser with SVN/Rankin Co., said he was impressed with Indianapolis housing efforts.
