Farmers Bank & Trust was chartered on September 26, 1906, and has been in operation since its inception. Farmers Bank is an independent community bank and operates out of a one bank holding company, Magnolia Banking Corporation. The Bank operates the subsidiary called Magnolia Properties, Inc. Since its inception, the Bank's primary mission has been to serve the banking needs of its communities. Being the oldest and most firmly established bank in its market, Farmers Bank & Trust has built a reputation of conservative soundness that has served it well. Through the years, FB&T has enjoyed a reputation of strong integrity and honesty that has enabled the Bank to gain increased market share in the local banking market. The oldest existing general ledgers indicate that the Bank began in 1906 with approximately $75,000 in assets. The primary business of the Bank at the time was deposit services. Today, the Bank has assets of approximately $1.2 billion and offers a wide variety of products and services to serve the needs of its communities. In addition to the Main Banking facility, FB&T currently operates three branches in Magnolia; a Main Bank and three branches in Camden; and one in Welcome that serves the Taylor area and the Springhill, Louisiana area. In 2007, FB&T purchased Southern State Bank adding new locations in Malvern, Rockport, and Haskell for central Arkansas customers. The Bank opened a branch and mortgage department in Texarkana, TX in 2012 and and a branch in Texarkana, Arkansas in 2014. In 2015, Farmers Bank & Trust acquired 1st Bank with locations in Hope, Blevins, Lewisville, and Texarkana, Arkansas and Texarkana and New Boston, Texas to extend the Bank’s presence within the I-30 corridor.