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Indiana Bank Acquires Eastern Illinois Banks

First Farmers Financial Corporation, holding company of First Farmers Bank & Trust, announced today that they have entered into Agreements and Plans of Merger to acquire 100% of the stock of three community banks in Illinois. Under the terms of the agreements, First Farmers Bank & Trust will acquire Community Bank, Hoopeston, Illinois, United Community Bank, Oakwood, Illinois, and First National Bank of Chrisman, Chrisman, Illinois, from their respective holding companies. Each bank will be merged into First Farmers Bank & Trust as part of the transactions.

First Farmers Bank & Trust is a regional leader in agricultural and community banking in the Midwest. At June 30, 2014, First Farmers had $1.2 billion in assets and operated 27 community bank branches in Indiana and Illinois. The combined assets of the banks are currently $165 million and the transaction is expected to close in the first quarter of 2015, subject to regulatory approval and other customary conditions.

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