FRANKFORT, Ind. — The Farmers Bank marked its 150th anniversary this week with a look back at its roots in Frankfort and a look ahead to its future as part of First Bank Midwest, President and CEO Chris Cook told members of the Frankfort Rotary Club.
Cook said the bank was founded June 17, 1876.
Ulysses S. Grant was President of the United States. 150 years ago this week, local businessmen gathered at a Frankfort law firm and signed papers creating The Farmers Bank in a town of about 2,500 people. Cook said the anniversary was celebrated all week with themed staff events, culminating in Wednesday’s 150th anniversary observance.
The bank also hosted a staff gathering, a retiree brunch and an evening celebration, Cook said. He noted retirees, former bank presidents and community leaders were part of the anniversary events, and he said the bank is creating a 150-year history book to preserve its story.
Cook said community support has been central to the bank’s success for generations. He told Rotarians that customers, employees, directors, spouses and other local supporters all played a role in shaping the local institution over the past century and a half.
As part of the anniversary, Cook announced creation of The Farmers Bank Charitable Foundation, established in 2026 with an initial $25,000 gift. He said the foundation’s primary focus will be support for not-for-profits and community efforts in Clinton County.
Cook said the foundation is intended to extend the bank’s legacy of local giving rather than compete with existing philanthropic organizations. He said bank leaders discussed the move with the Community Foundation before launching the new effort.
Cook also spent much of his remarks discussing the bank’s pending merger with First Bank Richmond. Publicly announced plans call for the combined bank to operate as First Bank Midwest, with the bank headquartered in Frankfort and the parent company, Richmond Mutual Bancorporation, remaining headquartered in Richmond.
Cook said the merger is scheduled to close July 1, and that from a customer standpoint, little will change immediately beyond the new name beginning to appear. He said a larger customer conversion is planned for Nov. 9, 2026 but customers should still be able to use existing checks and automated transactions during the transition.
The combined bank’s new branding has already been unveiled, including the First Bank Midwest name and logo. The organizations previously said the new bank will include locations from First Bank Richmond, The Farmers Bank and Mutual Federal, creating a 26-office network across Indiana and Ohio.
Cook told Rotary members he supports the merger because he believes it will help the bank preserve community banking values while gaining the scale needed for better technology and future growth. He said the goal is not to erase The Farmers Bank’s legacy, but to protect it while building a stronger institution.
He also emphasized that community banking will remain central to the organization’s identity. Public merger materials state customers should continue to expect local relationships, responsive service and a community-first approach as the transition unfolds in phases from July 2026 into early 2027.
Cook said local accountability remains important to him and invited community members to speak up if they believe service levels or the bank’s local focus begin to slip after the merger. He said the success of the transition will be measured not just by size, but by whether it produces a better outcome for customers, employees, shareholders and the community.