FSB Declines TARP Funds

July 28, 2016 at 4:25 p.m.
By -
On March 30, Kosciusko Financial, Inc, locally known as Farmers State Bank, received preliminary approval for $2,256,000 from the United States Treasury to participate in the Capital Purchase Program. However, the Board of Directors elected not to participate in the offering from the United States Treasury, and did not accept the funding.

"At Farmers State Bank we are blessed and thankful for a strong capital position that reduces our need for any government capital" stated Greg Maxwell, president of Farmers State Bank. "Also, the interest rate market has re-priced dramatically since the inception of the CPP program making TARP funds less viable for us."

"Since 1892, through good times and bad, Farmers State Bank has been a financial partner to the people of Kosciusko County, and we will continue to accept that responsibility."

Kosciusko Financial, Inc. is a $110 million dollar bank holding company headquartered in Kosciusko County. Farmers State Bank has branches in Mentone, Warsaw, Leesburg and Syracuse.[[In-content Ad]]

Latest News

E. Coli, Safety Are Reasons For Pier Removal At Center Lake
Latest News
Etna Green Council Approves Town’s 2025 Budget
South Whitley Town Council Accepts Bid For Downtown Buildings
Latest News
Winter Heating Bills Forecasted To Increase Compared To Last Year, NIPSCO Says
Latest News
Benjamin R. Cretcher

E-Editions

Open Source CMS: Myth vs Reality

On March 30, Kosciusko Financial, Inc, locally known as Farmers State Bank, received preliminary approval for $2,256,000 from the United States Treasury to participate in the Capital Purchase Program. However, the Board of Directors elected not to participate in the offering from the United States Treasury, and did not accept the funding.

"At Farmers State Bank we are blessed and thankful for a strong capital position that reduces our need for any government capital" stated Greg Maxwell, president of Farmers State Bank. "Also, the interest rate market has re-priced dramatically since the inception of the CPP program making TARP funds less viable for us."

"Since 1892, through good times and bad, Farmers State Bank has been a financial partner to the people of Kosciusko County, and we will continue to accept that responsibility."

Kosciusko Financial, Inc. is a $110 million dollar bank holding company headquartered in Kosciusko County. Farmers State Bank has branches in Mentone, Warsaw, Leesburg and Syracuse.[[In-content Ad]]
Have a news tip? Email [email protected] or Call/Text 360-922-3092

e-Edition

e-edition

Sign up

for our email newsletters

Weekly Top Stories

Sign up to get our top stories delivered to your inbox every Sunday

Daily Updates & Breaking News Alerts

Sign up to get our daily updates and breaking news alerts delivered to your inbox daily

Latest Stories

E. Coli, Safety Are Reasons For Pier Removal At Center Lake
The need to remove the concrete pier at Center Lake beach comes down to two reasons that aren’t new concerns: E. coli and safety.
Etna Green Council Approves Town’s 2025 Budget
ETNA GREEN — Etna Green is planning for a budget of more than $322,000 for 2025.
Winter Heating Bills Forecasted To Increase Compared To Last Year, NIPSCO Says
MERRILLVILLE – Northern Indiana Public Service Company (NIPSCO) LCC announced Wednesday that natural gas residential customers can expect an increase in their winter heating bills this season compared to last year.
South Whitley Town Council Accepts Bid For Downtown Buildings
SOUTH WHITLEY – At Tuesday night's meeting, the South Whitley Town Council accepted the only submitted bid for 206 and 208 S. State St. from Brian McCarty, pending a purchase agreement to be drawn up by town attorney Greg Hockemeyer.
Martin Ramos
Martin Ramos, 59, Warsaw, died Tuesday, Oct. 8, 2024.