The name is changing, but the faces will be the same.
Beginning Monday, July 1, Farmers National Bank will take on its new name -- Farmers Deposit Bank, said Brent Hoptry, president and CEO of Farmers.
He said Cynthiana’s two locations will be joining with Deposit of Carlisle and the Farmers’ National Bank Paris location to become the new Farmers Deposit Bank.
The two community banks have been under the same ownership since 1988 and will continue under the same ownership, Hoptry said in a press release.
“To the many loyal customers of Farmers National Bank of Cynthiana and Deposit Bank of Carlisle, and on behalf of our dedicated employees, I’m proud to announce the combination of these two institutions, both of which were formed well over 100 years ago,” said James A. Brown, owner. “The combined institution, newly named Farmers Deposit Bank, will continue to be 100 percent locally owned. Following the tradition of the members of the original charter we look forward to continuing to serve our customers and supporting the communities in which we reside.”
Hoptry noted that bank officials are proud that no jobs will be eliminated as a result of the merger.
“Actually, the merger has allowed us to enhance and strengthen our management team,” stated the release, which was signed by Hoptry and Greg Wills, who is the president and CEO of the Deposit Bank of Carlisle.
Hoptry said the new name and merger will take affect with the opening on Monday, July 1, which is also when new signs will be going up at the four locations.
He said the bank’s website will also be changing to www.farmersdepositbankky.com. For the time being, customers will be able to access the new website through the old site.
Another change will be the start of Cornerstone Checking Accounts, which will also be available in July.
Cornerstone Checking Accounts will allow customers to eliminate service fees, provide cell phone insurance, identity theft protection as well as discounts on local and national hotels, restaurants and retailers.