Farmers earns national attention
WASHINGTON, D.C. — Farmers National Bank of Emlenton found its way into a speech Wednesday by U.S. Secretary of the Treasury Tim Geithner at a meeting of the Independent Community Banks of America.
During its annual Washington Policy Summit, the bankers group heard from Geithner about what Farmers National has done with a Treasury investment it took in fall 2008 so it would be in the position to be a strong lender.
The investment of $7.5 million has helped the bank expand its lending during the recession.
"Since January Farmers National has provided $18.2 million in commercial and small business loans, an increase from the last quarter of 2008, despite the worsening economy," Geithner said in his speech.
Some of the loans included development that went on to help workers get jobs in construction as well as helping a number of small businesses open their doors, he said.
Geithner said the role of community banks in this time of economic upheaval has been as a stabilizing resource. One of those banks that should be recognized for doing that is Farmers National.
In a news release, William C. Marsh, chairman, president and chief executive officer of the bank, said Friday, "We are pleased to provide opportunities for community growth and proud to support economic recovery efforts as set forth through participation in the Capital Purchase Program."
