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Is budgeting stressful to you?  Do you feel overwhelmed?  We understand that sometimes when it feels like too much of a challenge, it is easier to just give up.  Farmers Bank is here to help.  We have outlined important tips including the 50.20.30 budget rule.  It’s part of a simple plan to help you reach your financial goals. 

When you use the 50-20-30 budget rule,  you should spend up to 50% of your net income on needs–things you must have or cannot live without.  These include rent or mortgage payments, car payments, groceries, insurance, health care and utilities.  Half of your net income should be all that is required to cover your needs and obligations.

Next, try to allocate 20% of your net income to savings, debt payments and investments.  A best practice is to have at least three months of emergency savings on hand in case of job loss or another unforeseen event. After that, focus on retirement, paying off debt and meeting other future financial goals. 

Allowing yourself to check some of your “wants” off of your bucket list is also important.  The final 30% of your net income should go toward these wants.  A dinner out followed by a movie, a new outfit, or a vacation to a dream destination are all possible when you budget wisely.  

While budgeting can seem impossible at times, the 50.20.30 budget rule can keep you on track to ensure that you set yourself up for financial success.  Farmers Bank has many different products to provide every individual customer options for their budgeting needs.  Please contact us for details.

Blogpost written by:
Kari VanWassen
BSA/Security/Information Security Specialist
CBAP

Watch this fun video about the 50-20-30 Budgeting Rule 

Windsor, VA, July 9, 2021 –  Farmers Bank is pleased to announce the recipients of their 2021 Farmers Bank Scholarship Program.  Each of these area students will receive $2,500.00 which will be applied toward their future education.  Farmers Bank received more than 200 applications this year from highly impressive students across the Tidewater region.  Winners are selected by an external committee and are based on financial need, academic achievement and community involvement.  Special thanks are extended to the community members who make up the Farmers Bank Scholarship Committee.  This team was led by Luann Scott who spent countless hours reviewing applications and return year after year for this important assignment. 

Congratulations to the 2021 Farmers Bank Scholarship winners and best of luck! The recipients and their higher education institution are as follows:

Erin Brownlow – Great Bridge High School attending the College of William & Mary

Annika Eng – Smithfield High School attending Christopher Newport University

Caleb Fulford – Great Bridge High School attending the College of William & Mary

David Lee – Ocean Lakes High School attending Virginia Tech

Nina Dao – Ocean Lakes High School attending Duke University

Samantha O’Prandy – Western Branch High School attending James Madison University

Anna Claire Sanzone – Princess Anne High School attending the College of William & Mary

Shivam Patal – Windsor High School attending the University of Virginia

Information about the Farmers Bank Scholarship can be found at farmersbankva.com .  The application period is open from January through March annually.

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

The 2021 Farmers Bank Scholarship Program – the Scholarship Committee is currently reviewing applications received from graduating high school seniors. Eight scholarship winners will be selected to receive $2,500 each.  Stay tuned for the announcement of the 2021 recipients.  For more information please visit. www.farmersbankva.com/scholarship

The Farmers Bank family gives back to the community this Christmas. Thanks to cash donations on Employee Jeans Days throughout the year, we partnered with Suffolk Healthy Families to purchase gifts for 14 children. Each child will receive a toy, an outfit and winter coat. We also partnered with the Windsor Police Department to shop for children in Isle of Wight County, too. It’s one of the ways we say Merry Christmas to our neighbors.

Thank you!

Thanks to Cullipher Farm for featuring us in their 2020 Corn Maze!

Farmers Bank has worked beside area residents for five generations with deep roots in the communities we serve and we are excited to partner with Cullipher Farm for this year’s corn maze! We have supported the entrepreneurial spirit of our neighbors for over 100 years by providing the banking services needed to make your personal finances and businesses grow. Our customers are farmers, business owners, Moms and Dads….anyone and everyone who wants to plant the seeds for a future harvest of financial independence. In 1919, Shirley T. Holland with five local businessmen opened the first Farmers Bank in Windsor, Virginia and a century of your trust has allowed us to serve the people of Isle of Wight, Southampton, Franklin, Suffolk, Chesapeake, Portsmouth and now Pungo with eight convenient locations throughout the region. We hope you enjoyed the 2020 Corn Maze and invite you to discover what the Farmers Bank difference is all about.

Click here for more information about the fun activities at Cullipher Farm!

Windsor, VA, September 15, 2020 – Farmers Bank is pleased to announce the recipients of their 2020 Farmers Bank Scholarship Program.  Each of these area students will receive $2,500.00 which will be applied toward their future education.  Farmers Bank received more than 100 applications this year from highly impressive students across Tidewater Virginia.  Winners are selected by an external committee and are based on financial need, academic achievement and community involvement.  Special thanks are extended to the community members who make up the Farmers Bank Scholarship Committee.  This team was led by Luann Scott and spent countless hours reviewing applications and return year after year for this assignment. 

Congratulations to the 2020 Farmers Bank Scholarship winners and best of luck! The recipients and their higher education institution are as follows:

Basalisa Andujar – Windsor High School attending George Mason University

Kendra Brewer – Tallwood High School attending John Hopkins University

Amera Long – Southampton High School attending Hampton University

Quan’Drez Mason – Norview High School attending Virginia Commonwealth University

Bailey Stephenson – Windsor High School attending Tidewater Community College

Madison Stone – Kings Fork High School attending the University of Virginia

Terrance Wilson – Grassfield High School attending Old Dominion University

Information about the Farmers Bank 2021 Scholarship can be found at farmersbankva.com starting in the spring of 2021.

Farmers Bank, founded in 1919, is headquarters in Windsor, VA, and is a community bank operating eight branches and services areas throughout the greater Hampton Roads area including their newest branch in Pungo.  Additional information is available at the company’s website, www.farmersbankva.com.

Did you know having documents laying around with personal information is a security risk? LET US HELP with our upcoming FREE Paper Document Shredding Event!

It’s simple…utilize the shredding guide below help you figure out what documents to shred when and which documents to store securely.

We hope you will take advantage of this great opportunity to de-clutter and help protect your identity!

Free Paper Shredding Event

Click here for a full list of items that will not be accepted for shredding. (include Shred-It Community Shred it Events Infographic)

Find out even more on how to Protect Your Identity by clicking here.

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/