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Farmers Bank is pleased to announce the recipients of the 2018 Farmers Bank Scholarship Program. For more than ten years Farmers Bank has annually offered its scholarship program to graduating seniors with plans to attend a four year college within their market area. This year Farmers Bank awarded eight, $2,500 scholarships to high school seniors with in the areas of Isle of Wight County, Southampton County, the City of Suffolk, the City of Portsmouth, the City of Chesapeake and home school students in these districts. Applicants were selected by an independent committee comprised of local community leaders and educators.

Farmers Bank is very proud to be supporting the following local students as they further their education:

Heather Bowen a graduate of Windsor High School planning to attend James Madison University

Madellyn Carr a graduate of Lakeland High School planning to attend Longwood University

Sydney Carter a graduate of Windsor High School planning to attend Davis & Elkins College

Taylor Anne Cross a graduate of Southampton High School planning to attend North Carolina State University

Hailey Delgado a graduate of Windsor High School planning to attend the University of Virginia

Cameron Keely-Parker a graduate of Deep Creek High School planning to attend the University of Richmond

Reann Nichols a graduate of Windsor High School planning to attend Old Dominion University

Cassidy Whitehurst a graduate of Indian River High School planning to attend George Mason University

“The Farmers Bank Scholarship Program is something I have always been very passionate about. I am honored that we are able to support local students and their families in the pursuit of higher education in this tangible way. We wish them much success in this new endeavor and look forward to all of their future accomplishments,” stated Richard J. Holland, Jr., Farmers Bank Chairman and Chief Executive Officer.


Farmers Bank, founded in 1919, is headquartered in Windsor, Virginia, and is a community bank which operates seven branches and services areas throughout Tidewater, Virginia. Additional information is available at the company’s website, www.farmersbankva.com.

Contact: Richard J. Holland, Jr., Chairman and Chief Executive Officer, 757-242-6111

The 2018 Farmers Bank Scholarship is now open! Please submit sealed applications via the instructions in the scholarship application. We are looking forward to receiveing applications from the Class of 2018! Visit our scholarship page for more information https://www.farmersbankva.com/scholarship/

Check out this cool video that shows a really easy way to make ice cream! ENJOY!

Good financial education starts at an early age and Farmers Bank is proud to play a small role in planting the seeds of good money management in the kids of Booker T. Washington Elementary in Suffolk!  Teaching Children to Save is a national initiative created by the American Bankers Association to bring financial education into elementary schools.  We have chosen to take part in this program as a way of helping our kids get an early start in understanding the basics of money.  The topic of this class is: “The safest place to keep your money.”

WINDSOR, VA, April 24, 2015 – Farmers Bankshares, Inc. (FBVA), the Windsor-based holding company for Farmers Bank, is pleased to announce their common stock will begin trading on the OTC Market exchange under the ticker symbol “FBVA”.  They believe this will increase the visibility of their company, and will provide shareholders the opportunity for greater liquidity.

Farmers Bank is proud that FIG Partners, LLC, a banking industry specialist, has committed to providing market making services to their shareholders.

About FIG Partners, LLC

FIG Partners LLC is an Atlanta, GA based employee-owned broker/dealer specializing in financial institutions.  FIG provides market making services to over 700 banks, including 33 community banks located in Virginia.

FIG Partners has assigned Michael Acampora to assist Farmers Bank shareholders with any questions or inquiries regarding market making or FIG Partners.  Mr. Acampora has over 30 years of experience working with community banks and their shareholders.  Please contact Mr. Acampora if you are contemplating buying or selling FBVA shares or would like further information regarding the trading of shares in the bank.  While the Bank is more than happy to speak to their valued shareholders and answer any questions they may have, the Bank will no longer coordinate the buying and selling of shares.   Mr. Acampora’s contact information is below:

Michael Acampora

Senior Vice President

FIG Partners, LLC

1654 Pearl Street

Jacksonville, Fla. 32206

Phone: 904-354-0441

Email: macampora@figpartners.com

First Quarter and Year-to-Date Earnings

Farmers Bankshares, Inc. reports unaudited earnings of $811,296, or $1.33 per share for the first quarter of 2015.  These results are increased approximately 3% from the $786,016, or $1.29 per share, earned during the first quarter of 2014.

Richard J. Holland, Jr., Chairman and Chief Executive Officer, stated, “We are pleased to report these consistent positive results to our shareholders and am proud of the Bank’s position through the first quarter of 2015.”

Return on average assets on an annualized basis of 0.76% for the first quarter of 2015 is comparable to the first quarter of 2014 results of 0.76%.  Return on average equity during the first quarter of 2015 was 8.42% as compared to the  prior year first quarter of 9.34%.

Net interest income increased 2.30% in the first quarter of 2015 compared to first quarter of 2014.  Loan demand  held consistent, however due to seasonal activity, mainly related to agricultural lines of credit, total loans decreased by $2.6 million as compared to December 31, 2014.  Deposit balances decreased 1.02% or $3.5 million to $340 million in the first quarter of 2015 from $344 million as of December 31, 2014.  The slight decrease in deposits is largely due to the cyclical nature of several large municipal deposits.  Non-interest bearing deposits increased 10.70% over the same period last year and now make up approximately 24% of total deposits.  Non-interest income, exclusive of securities transactions, increased 109.90% from first quarter 2014.  Income related to the Bank’s investment in Manry Rawls, LLC contributed $163 thousand of additional income in 2015 over the same period in 2014.  Service charges increased $42 thousand or 54.11% when compared to the first quarter of 2014, due to efforts implemented in the fourth quarter 2014 to bring service charges more in line with their peers.  Non-interest expense increased 6.46% or $168 thousand during the first quarter 2015 compared to same period in 2014.  Salaries and benefits rose 13.84% and loss on other real estate increased by 100.00%.  The major contributing factors in non-interest expense were the costs associated with writing down certain other real estate properties held and employee related recruiting costs.

In March 2015, Farmers Bankshares, Inc. redeemed $925 thousand of capital notes at a price of 102%, plus accrued and unpaid interest.  This transaction was to accommodate investor’s liquidity needs and reduce our debt service obligations.  Even with this transaction, capital ratios at the Bank level remain strong and well above regulatory requirements for “Well Capitalized” financial institutions.  Total risk-based capital to risk weighted assets at Farmers Bank equaled 18.05% as of March 31, 2015.

“We are extremely proud of the progress we have made by focusing on non-interest income.  The diversification of our revenue streams has helped to ease the continuation of compressed net interest margins.  We are also pleased to further service our customers and local community by persistently broadening our financial related offerings” stated Vernon M. Towler, President.

Farmers Bank, founded in 1919, is headquartered in Windsor, VA, and is a full-service community bank which operates six branches throughout Western Tidewater Virginia.  Additional information is available at the company’s website, www.farmersbankva.com.

Contact: Vernon M. Towler – (757) 242-6111, vernon.towler@farmersbankva.com

WINDSOR, VA —   Manry Rawls, LLC and Farmers Bank are pleased to announce a partnership between the two organizations.  Under the arrangement, Farmers Bank has become part owner in Manry Rawls, LLC.  The agency will continue to operate independently under the name Manry Rawls, LLC.  Both Farmers Bank and Manry Rawls have been fixtures in the local marketplace for many decades.   The partnership is representative of both organizations’ deep interest in remaining focused on local customers and meeting their needs, regardless of size.

V.S. “Vee” Pittman will lead the partnership, while Farmers Bank will continue to concentrate on lending and banking services, both heavily concentrated on Main Street and agricultural businesses.  “We are glad to be able to strengthen our company in Franklin and look forward to bringing more new jobs to the area,” said Pittman.  “Farmers Bank is well known for its service to its customers and the community in which they live.  We look to help expand that reputation in the years to come,” he added.

As Farmers Bank has grown over the years, it has sought ways to continually reinvest in the communities it serves. Manry Rawls will complement the considerable investment in Southampton County which Farmers Bank exhibited when it opened its newest branch in Courtland in April 2013.  “I see this as a valuable partnership between two community and service oriented businesses.  We are both locally owned and operated with strong commitments to our communities and the people we serve.  This association strengthens both Farmers Bank and Manry Rawls’ ability to remain independent and allows us to continue to offer products and services to our respective customer base in a manner we strongly believe in. We, at Farmers Bank are excited about the opportunities that will arise for both organizations in this new endeavor,” stated Richard “Dick” J. Holland, Jr., CEO of Farmers Bank.

Manry Rawls, LLC operates two offices, one in Franklin and another in Courtland. For more information about Manry Rawls, please visit www.manryrawls.com.  Farmers Bank is headquartered in Windsor and has six offices in Courtland, Smithfield, and Suffolk.  For more information about Farmers Bank, visit www.farmersbankva.com and www.facebook.com/FarmersBankVA.

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