Farmers Capital Bank Corporation operates as a bank holding company. The company provides a range of banking and bank-related services to customers throughout Central and Northern Kentucky. The company’s four bank subsidiaries include Farmers Bank & Capital Trust Company (Farmers Bank), Frankfort, Kentucky; United Bank & Trust Company (United Bank), Versailles, Kentucky; First Citizens Bank (First Citizens), Elizabethtown, Kentucky; and Citizens Bank of Northern Kentucky, Inc. (Citizens Northern), Newport, Kentucky. The company also owns FCB Services, Inc., (FCB Services), a data processing subsidiary located in Frankfort, Kentucky; FFKT Insurance Services, Inc., (FFKT Insurance), a captive property and casualty insurance company in Frankfort, Kentucky; and Farmers Capital Bank Trust I (Trust I), Farmers Capital Bank Trust II (Trust II), and Farmers Capital Bank Trust III (Trust III), which are unconsolidated trusts established to complete the private offering of trust preferred securities. Products and Services The company provides a range of financial services at its 36 locations in 23 communities throughout Central and Northern Kentucky to individual, business, agriculture, government, and educational customers. Its primary deposit products are checking, savings, and term certificate accounts. Its primary lending products are residential mortgage, commercial lending, and consumer installment loans. Substantially all loans and leases are secured by specific items of collateral, including business assets, consumer assets, and commercial and residential real estate. Other services provided by the company include cash management services, issuing letters of credit, safe deposit box rental, and providing funds transfer services. The company has minor amounts of other financial instruments, including deposit accounts in other financial institutions and federal funds sold, neither of which represent a potential concentration of credit risk Loans: A significant part of the company’s operating activities include originating loans, approximately 89% of which are secured by real estate, as of December 31, 2014. Real estate lending primarily includes loans secured by owner and non-owner occupied one-to-four family residential properties, as well as commercial real estate mortgage loans to developers and owners of other commercial real estate. Real estate lending primarily includes both variable and adjustable rate products. The company also makes fixed rate commercial real estate loans to a lesser extent with repayment periods generally ranging from three to five years. The company’s subsidiary banks make first and second residential mortgage loans secured by real estate not to exceed 90% loan to value without seeking third party guarantees. Commercial real estate loans are made primarily to small and mid-sized businesses, secured by real estate not exceeding 80% loan to value. Other commercial loans are asset based loans secured by equipment and lines of credit secured by receivables and include lending across a diverse range of business types. Commercial lending and real estate construction lending, including commercial leasing, includes a higher degree of credit risk than other loans, such as residential mortgage loans. Investment Portfolio As of December 31, 2014, the company’s investment portfolio included obligations of U.S. government-sponsored entities; obligations of states and political subdivisions; mortgage-backed securities – residential; mortgage-backed securities – commercial; corporate debt securities; and mutual funds and equity securities. Regulations The company is a bank holding company, registered with and regulated by the Federal Reserve. All four of its subsidiary banks are Kentucky state-chartered banks. Two of the company’s subsidiary banks are members of their regional Federal Reserve Bank. The company and its subsidiary banks are subject to supervision, regulation, and examination by the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Kentucky Department of Financial Institutions (KDFI). The company and its subsidiary banks are required to file regular reports with the FRB, the FDIC, and the KDFI.
farmers capital bank corp
202 West Main Street
PO Box 309
Frankfort, KY 40601
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