Farmers National acquires Butler Wick Trust

Farmers National Bank took the first step in a growth plan by acquiring a local trust company that manages money for some of the area’s most recognizable institutions.

Undeterred by a nagging recession and credit crisis, the Canfield-based bank said Thursday that it intends to spend $12.1 million to acquire Butler Wick Trust Co., whose 1,000 area clients include prominent residents and organizations such as the Youngstown Symphony Society and Butler Institute of American Art.

The purchase from United Community Financial Corp. is expected to be complete in 60 to 90 days and will bring no changes except a new name, said James Sisek, president and chief executive of Butler Wick Trust.

The name will change to Farmers National Trust, but all 27 employees will remain in place and offices in downtown Youngstown and Howland will be kept, he said.

For more, see Friday’s Vindicator and Vindy.com