Bargersville bank branch purchased

A Bargersville bank has been purchased, and its accounts will be taken over by another bank, while its location will be closed.

The First Farmers Bank & Trust Co. branch at 42 S. State Road 135 has been purchased by Horizon Bank, a national banking association, according to a news release. Horizon will get about $5 million in loans and about $15 million in deposits from First Farmers accounts.

The First Farmers branch will be closed, and customers will have their accounts transferred to Horizon’s Bargersville branch at 507 Three Notch Lane. First Farmers customers can access their accounts there or at four other Horizon branches in Johnson County.

Horizon will offer jobs to all of the employees at the First Farmers Branch.

“We are grateful for the opportunity to have served the greater Bargersville, Indiana, community,” First Farmers President and CEO Gene Miles said.

The move allows First Farmers to focus its resources in the agricultural sector and areas closer to its branch network in northern Indiana, he said.

“We are extremely pleased to have this opportunity to increase market share in Bargersville,” Horizon CEO Craig Dwight said.

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Jacob Tellers is a reporter at the Daily Journal. He can be reached at jtellers@dailyjournal.net or 317-736-2702.