Gene Miles retires as CEO of First Farmers Bank & Trust, remains CEO and President of First Farmers Financial Corporation ( FFMR )

Rhea-AI Summary

Gene Miles has retired as CEO of First Farmers Bank & Trust as of March 31, 2021, after over 41 years of service. His leadership led to significant growth, transitioning the bank from three locations and $44 million in assets to a $2.2 billion financial holding company. Miles will remain as President and CEO of First Farmers Financial Corporation (FFMR), while Mark 'Doc' Holt takes over as the bank's new CEO. Miles has received multiple awards, including the Bruning Award for agricultural banking.

Positive

• Gene Miles transitioned from CEO of the bank to President and CEO of First Farmers Financial Corp.
• Under Miles' leadership, the bank grew from $44 million in assets to $2.2 billion.
• The bank has a strong presence in multiple Indiana and Illinois counties.

Negative

• None.

CONVERSE, Ind., April 02, 2021 (GLOBE NEWSWIRE) -- In accordance with established succession planning, Gene Miles retired from his daily responsibilities as Chief Executive Officer of First Farmers Bank & Trust on March 31, 2021. His impact on the Bank is immeasurable and the growth during his tenure is unparalleled throughout our company history. Gene will continue in his role going forward as President and Chief Executive Officer of First Farmers Financial Corporation ( FFMR ). Bank President Mark “Doc” Holt will serve as President and Chief Executive Officer of the bank going forward.

Gene served First Farmers for over 41 years and his career has touched on nearly every capacity within the institution, including branch manager, commercial loan officer, compliance officer, investment officer, marketing officer and accounting officer. Starting as a branch manager in 1979 at a time when the Bank had 3 locations, less than 30 employees, and a total asset size of $44 million, Gene was mentored by many former Bank officers and worked closely with prior president Robert Larrison. He assumed the role of executive vice president in 1984 and president in 1997 and president & CEO in 1999. In 2016, Gene was awarded the Bruning Award, the American Bankers Association’s premiere award for agricultural Banking. In 2020, Gene was honored with a Leaders in Banking Excellence award through the Indiana Bankers Association.

First Farmers Financial Corp is a $2.2 billion financial holding company headquartered in Converse, Indiana. First Farmers Bank & Trust has offices throughout Carroll, Cass, Clay, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Starke, Sullivan, Tippecanoe, Tipton, Vigo and Wabash counties in Indiana and offices in Coles, Edgar and Vermilion counties in Illinois. First Farmers Financial Corp is traded on the OTC Markets Group, Inc. "OTCQX" exchange under the ticker symbol: FFMR

Contact:
Tade J Powell
Senior Vice President
Tade.Powell@ffbt.com

FAQ

Who is the new CEO of First Farmers Bank & Trust as of April 2021?

Mark 'Doc' Holt is the new President and CEO of First Farmers Bank & Trust.

When did Gene Miles retire as CEO of First Farmers Bank & Trust?

Gene Miles retired as CEO on March 31, 2021.

What is the ticker symbol for First Farmers Financial Corp?

First Farmers Financial Corp trades under the ticker symbol FFMR.

What is the asset size of First Farmers Financial Corp?

First Farmers Financial Corp has an asset size of $2.2 billion.

How long did Gene Miles serve at First Farmers Bank & Trust?

Gene Miles served for over 41 years at First Farmers Bank & Trust.