The Farmers Bancorp is pleased to announce that the Board of Directors has declared a one-time Special Dividend of $.25 per share. The dividend is payable on September 14, 2018, for shareholders of record of August 13, 2018.
The Board of Directors declared the special dividend in recognition of the benefit the bank has received as a result of the lower tax rate. In late 2017, Congress passed the Tax Cut and Jobs Act which lowered the corporate tax rate from 34% to 21%. Further, the bank continues to have strong earnings enabling the bank to build up capital and pay the special dividend.
“Thank you for the continued confidence you have placed in us. We will continue to strive to earn your trust and support,” said Karen F. Gregerson, President and CEO of The Farmers Bank.
The Farmers Bank is a $550 million asset organization chartered in 1876 with headquarters in Frankfort, IN. The Farmers Bank is locally owned and operated with 10 banking offices located in Central Indiana providing retail, business, trust & asset management, investment, mortgage, and electronic banking services. Additional information can be found at www.thefarmersbank.com. Member FDIC, Equal Housing Lender.