A huge thank you to First Farmers Bank & Trust for hosting our CEO group and providing an inside look at the world of banking and lending! We were welcomed by Alec Downing, Vice President, Commercial/Ag Lender and CEO Board Chair, and Carey Mawbey, Chief Credit Officer.

Fun fact: FFB&T is the tallest building in Kokomo and dates back to 1885, originally founded as Mark Tully Exchange Bank in Converse, Indiana. Today, it’s the largest Ag Bank east of the Mississippi.

💡 What we learned:
– How banks make money 💵 (Hint: it’s all about interest)
– The 5 C’s of Credit
– The relationship between assets, liabilities, and equity
– How business plans, PnL statements, and personal finances impact your ability to get a loan

This was incredibly valuable as we gear up for Banker Day, where students will present their personal business financials to local bankers.

Insightful tip from Carey:
"Know where you are financially and live within your means — it helps you know what you can spend."