Farmers Bank & Trust Forms New Nonprofit Foundation

Farmers Bank & Trust of Magnolia has formed a nonprofit foundation, the Farmers Bank Foundation, which will operate independently from the bank.

The foundation aims to support local nonprofits whose mission it is to “purposefully enrich the quality of life” in the communities where the bank’s customers and employees live. It will also fund projects that help veterans, law enforcement and civic workers, and boost education and encourage wellness.

The foundation’s funding is made possible by the bank’s shareholders and employees in Arkansas and Texas, but the amount is not finalized, spokeswoman Rachael Potter told Arkansas Business.

Elizabeth Burns Anderson will manage the foundation as its executive director. She is a fifth-generation employee of Farmers Bank & Trust and native of Magnolia.

“Coming from a family where giving back is your greatest responsibility, forming the Farmers Bank Foundation has been one of my greatest honors. This foundation will allow Farmers Bank & Trust to have a lasting legacy in all the markets we serve,” Anderson said in a news release.

“We decided to form the Farmers Bank Foundation to further commit to our core values, HEART which stands for honor, excellence, adaptability, respect, and teamwork, and to demonstrate those values in the communities we serve. Additionally, we are proud to include the HEART symbol in the new Farmers Bank Foundation logo,” added Farmers Bank CEO Chris Gosnell.