It’s Official—Farmers State Bank Merges with The State Bank

On December 1, 2021, Farmers State Bank merged with The State Bank of Fenton. The two banks became one, culminating with the final data processing conversion on the weekend of March 5 and 6, 2022.  Banking service will remain the same and more information will be communicated to customers as things move forward.

Craig Goodlock, current chairman and CEO of Farmers State Bank, states, “The bank is in the best financial shape it’s ever been.”

He credits the skill of the staff, with emphasis on customer service, along with a knowledgeable board of directors. When asked what prompted the change, Goodlock’s pointed to the need to meet increasing customer demands such as online interactive banking, phone apps, and services that include a trust department for wealth management. The State Bank is also a certified Small Business Administration lender to manage the various government programs offered under that umbrella. A larger institution with additional resources will mean more services for customers.

Initially, 19 banking institutions were interested in a merger, then the list was narrowed to 6 finalists. Ultimately, the Farmers State Bank administration chose The State Bank because of its excellent “community service record,” according to Goodlock. The State Bank has been a community bank for over 124 years.

Ron Justice, president and CEO of The State Bank, had this to say. “We are looking forward to this new opportunity to expand our franchise. Farmers State Bank has a team of talented and loyal bankers who share the same commitment to their customers and community as we do at The State Bank. They are each welcome additions to our team. Together, we look forward to getting to know those in the market served by Farmers State Bank and build strong banking relationships and partnerships.”