The Farmers Bank & Trust Building at 200 E. Third St. in Hope
Farmers Bank & Trust of Magnolia announced Wednesday that it has finalized an agreement with the Hempstead County Quorum Court to sell its main bank building at 200 E. Third St. in downtown Hope for $1.5 million.
The bank’s offices there will be moved to a location that will be built across the street. Farmers has two other office locations in Hope, at 617 N. Hervey St. and 2103 S. Main St.
The bank said the market value of the building makes this transaction equivalent to a $3 million donation to Hempstead County, which will use the building as a courthouse.
“We are grounded in our presence within Hope and Hempstead County,” Bob Burns, chairman of Farmers’ board and a Hope native, said in a news release. “However, the current bank building was larger than needed and the county was exploring options for a new courthouse. We hope that our building transfer will serve as a win-win situation for the staff and residents of Hempstead County and our company.”
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