ARCHBOLD — Farmers & Retailers Bancorp Inc. has introduced that FM Funding Providers, a division of Farmers & Retailers State Financial institution, has bought the belongings and shoppers of Adams County Monetary Sources (ACFR), a full-service registered funding advisory agency situated in Geneva, Ind. FM Funding Providers additionally introduced the addition of Lorie A. Garwood as vp/monetary advisor.
ACFR was based in 1994 by R. Lee Flueckiger and gives shoppers and their households with monetary confidence by way of customized funding planning and providers. On Nov. 30, 2020, ACFR had roughly $83 million of belongings beneath administration and greater than 450 shoppers. Nearly all of ACFR’s enterprise comes from northeastern Indiana, and the everyday buyer has been with the corporate for 15 years on common. ACFR workers, together with Flueckiger, have joined FM Funding Providers.
Lars B. Eller, president and CEO, said, “ACFR has been serving to people and their households for over 25 years and I stay up for working with Lee and his workforce. We’re additionally excited to welcome ACFR’s shoppers to FM Funding Providers, lots of which already financial institution at F&M because of our 2019 Financial institution of Geneva acquisition.”
Eller continued, “Diversifying our sources of income is a vital a part of our development technique. ACFR considerably will increase the dimensions of FM Funding Providers, whereas additional increasing our presence in northeastern Indiana. We count on the acquisition will contribute over $500,000 of income to non-interest revenue in 2021.”
“By partnering with FM Funding Providers, Adams County Monetary Sources is ready to provide continued stability whereas introducing further value-added providers to our shoppers,” said Flueckiger. “F&M’s rising presence in Jap Indiana is thrilling and I stay up for working with the workforce at FM Funding Providers.”
Farmers & Retailers Bancorp additionally introduced that Lorie A. Garwood joined FM Funding Providers as vp/monetary advisor. Garwood has greater than 20 years of funding and banking expertise all through western Ohio and northeastern Indiana. Most not too long ago, Garwood was an funding advisor at a neighborhood financial institution in Berne, Ind. Garwood has an affiliate diploma from the College of Northwestern Ohio.
“Lorie gives F&M with an skilled funding advisor who will assist the expansion and enlargement of FM Funding Providers all through jap Indiana. FM Funding Providers now has 5 funding advisors with roughly $260 million in belongings beneath administration. I’m excited by the alternatives we’ve to develop FM Funding Providers,” concluded Eller.