Farmers State Bank and FirstBank: A Century of Community Banking

Farmers State Bank and FirstBank: A Century of Community Banking. . , Farmers State Bank was founded in 1906 by a small group of Scotts Hill investors. In the early years, the bank financed ventures and supported the mainly rural, agricultural communities it served. Even as the economic focus of the area shifted from agriculture to manufacturing, Farmers State Bank remained a constant in Scotts Hill., By 1984, the bank had approximately $14 million in assets and was owned by a group of shareholders, most of whom were descendants of the original investors. That same year, Jim Ayers and Parsons banker Steve White purchased the bank and moved its headquarters to Lexington. Farmers State Bank bought First National Bank of Lexington in 1988 and changed its name to FirstBank., In the ensuing years, FirstBank has become one of the largest community banks in Tennessee and , with the original charter branch still operating in Scotts Hill , the oldest bank in Henderson County Although many things in the 100 years since its inception, the Farmers State Bank nameplate in Scotts Hill did not, exemplifying FirstBank's commitment to maintain the same community banking philosophy its charter operated under a century before.