On June 27, 2013 Farmers National Bank updated its name to Prairie Bank of Kansas. The locally owned bank originated in Stafford Kansas nearly 130 years ago and now has locations in Stafford, Buhler, Inman and Hutchinson.
One thing that prompted the new name was the decision to move from a national bank charter to a state bank charter.
"Many of our customers' lending needs are continuing to increase, especially our customers with agriculturally based operations," CEO James Richardson said. "The move to a state charter will allow us to better meet those needs."
Kansas Banking Commissioner Ed Splichal said what his office hears most is that banks want to be closer to their regulator. Banks believe the response from the state regulators will be timelier, with a better understanding of the community.
One other appeal for becoming a state bank is the benefit to Kansas Richardson said.
"There are fees that all banks pay to their regulatory agency," he said. "By becoming a state bank our fees will remain here, in the Kansas economy."
When choosing the new name, Richardson said they wanted to reflect customer needs but also remember the banks history.
"We are extremely excited about our new name," Richardson said. "We wanted our name to coincide with our customer's evolving needs, while at the same time paying homage to our agricultural roots."
Richardson said he wants customers to know it will be the same bank, just with a new name.
"Our ownership, our employees and our principles will remain unchanged," he said. "Our top priority will always be our customers. We are a community bank that truly cares about the people we serve."