Magnolia’s Farmers Bank & Trust is doubling its presence in Paris — Texas, that is.
The $2 billion-asset lender is developing a full-service branch at 3000 Lamar Ave., a location that represents the combined property of Lamar Lube Express and Traditions Flowers & Gifts.
Farmers opened its first office in the $1.4 billion-deposit market in January. The bank has attracted more than $67 million in deposits in Paris, good for a 4.67% share.
The biggest stakes in the market are held by a trio of Texas lenders: First Federal Community Bank of Paris, $402 million (28.14%); Liberty National Bank of Paris, $332 million (23.28%); and Guaranty Bank & Trust of Mount Plea-sant, $317 million (22.19%).
The second Paris location will be the sixth Texas office for Farmers since it entered the state via Texarkana in 2012.
The bank recorded a profit of $20.6 million through the first nine months of 2021 compared with $16.7 million a year ago.