The Farmers Savings Bank

What The Farmers Savings Bank does

The Farmers Savings Bank was a state-chartered community bank headquartered in Spencer, Ohio, operating two branch locations in Medina and Lorain Counties in Northeast Ohio. It served individual consumers and small local businesses through a traditional community banking model, offering deposit products, residential mortgages, commercial loans, and consumer lending. The bank generated revenue primarily through the spread between interest earned on loans and interest paid on deposits, funded by approximately $236 million in low-cost deposits attracted through its local branch network. Headcount was in the 11-50 employee range, consistent with a small two-branch community bank, and the bank's technology footprint consisted of a standard core banking platform with no disclosed proprietary features.

The defining strategic event in the bank's recent history was its acquisition by Civista Bancshares, Inc., a publicly traded bank holding company with approximately $4.4 billion in total assets operating across Ohio, Indiana, and Kentucky. Civista announced the acquisition agreement in July 2025 for approximately $70.4 million in cash and common stock, received regulatory approval in October 2025, and completed the merger in November 2025. The transaction added the bank's two branches and approximately $236 million in low-cost deposits to Civista's footprint, expanding Civista's community banking presence in Northeast Ohio. Operational integration and core system conversion were completed in Q1 2026. Following the acquisition, The Farmers Savings Bank ceased to operate as an independent entity and was fully consolidated into Civista Bancshares' banking network.

Name

The Farmers Savings Bank

Legal name

The Farmers Savings Bank

Website

https://fsb-spencer.com

Company type

Private

Founded year

1925

Operating status

Acquired

Headcount range

11–50 employees

Short description

The Farmers Savings Bank was a state-chartered community bank in Northeast Ohio that served individual consumers and small businesses with deposit accounts, residential mortgages, and consumer lending through two branches in Medina and Lorain Counties, attracting approximately $236 million in deposits before being acquired by Civista Bancshares in November 2025.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking services
• Retail deposit accounts
• Residential mortgage lending
• Commercial loan services
• Consumer lending products

Headquarters

HQ city

Spencer

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Traditional bank interest income from lending activities including residential mortgages, commercial loans, and consumer lending. The bank generated revenue through the spread between interest earned on loans and interest paid on deposits.
2. Deposit-Based Revenue: Low-cost deposits serving as the primary funding source for lending operations. The bank attracted approximately $236 million in deposits through its two Northeast Ohio branches in Medina and Lorain Counties.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Core offering

The Farmers Savings Bank was a state-chartered community bank that provided traditional banking products and services to individuals and small businesses in Northeast Ohio. Its core activities centered on attracting deposits and originating residential mortgages, commercial loans, and consumer loans through two physical branches in Medina and Lorain Counties.

Product overview

The Farmers Savings Bank was a traditional community bank operating in Northeast Ohio, offering standard banking services including deposits and lending through its branches in Medina and Lorain Counties. The bank was acquired by Civista Bancshares, Inc. in November 2025 and fully integrated into Civista's operations by Q1 2026. Following the acquisition, The Farmers Savings Bank ceased to operate as an independent entity.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Added approximately $236 million in low-cost deposits to acquirer

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves4 records

Direct peers

• Civista Bancshares, Inc. The Farmers Savings Bank's acquirer and now parent company. Civista is an Ohio-headquartered community bank holding company operating across Ohio, Indiana, and Kentucky with ~$4.4B in total assets post-acquisition, making it the most directly comparable peer in scale and geography.
• Farmers National Banc Corp. Ohio-based community bank holding company with a similar 'Farmers'-branded community banking identity, operating multiple branches across Northeast Ohio — directly comparable in mission, customer base, and geographic footprint.
• Heartland BancCorp: Ohio-based community bank with a similar community banking model and deposit-gathering focus in Central and Northeast Ohio — comparable in operating approach and customer segments to The Farmers Savings Bank.
• Cortland Bancorp: Northeast Ohio community bank holding company operating multiple branches in Trumbull, Mahoning, and Columbiana Counties with a similar community deposit-and-lending model.
• Middlefield Banc Corp. Ohio-based community bank holding company with branches across multiple Ohio counties — a similar-size community banking operator with comparable deposit-gathering and small business lending focus.
• LCNB Corp. Ohio-headquartered community bank holding company operating primarily in Southwest and Central Ohio with a similar community banking business model, deposit base, and lending focus.
• United Bancshares, Inc. Ohio-based community bank holding company operating across Northwestern and Central Ohio with community banking branches — comparable in operating model, deposit-gathering approach, and small business lending orientation.

Broad incumbents

• Park National Corp. Larger Ohio-headquartered community bank holding company with a multi-state footprint across the Midwest; operates through a community banking model with multiple affiliate banks — a broader incumbent with overlapping Ohio presence.
• First Financial Bancorp: Multi-state community and commercial bank operating across Ohio, Indiana, and Kentucky; comparable to The Farmers Savings Bank in geographic overlap and community banking orientation but at meaningfully larger scale.
• Premier Financial Corp. Multi-state community and commercial bank operating across Ohio, Michigan, Indiana, and Pennsylvania; larger-scale peer with overlapping Ohio footprint and similar commercial and consumer banking focus.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/the-farmers-savings-bank-spencer-oh-

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Farmers Savings Bank