Farmers Trust Hits All-Time Highs

BOARDMAN, Ohio – Client assets under management by Farmers Trust Co. grew to more than $1.5 billion in 2020, an 8% increase, with revenue and operating income hitting all-time highs.

“Despite the many challenges that 2020 brought, the hard work of our dedicated staff and their commitment to serving our clients allowed the trust company to deliver another record year of growth,” says President David A. Dastoli. “We have local professionals providing personalized fiduciary and retirement plan serv-ices and a very sophisticated level of investment management. We don’t have to go outside of our market to answer a client’s question and they seem to appreciate that, as most of our growth comes from referrals and from existing clients.”

Farmers Trust employs 40 and offers estate planning, investment management, trust administration and retirement services.

Along with the Farmers Charitable Foundation, Farmers Trust supports nonprofits through the distribution of nearly $7 million annually and the administration of donor-advised funds. Funds overseen by Farmers Trust last year saw a particular emphasis on responding to the economic and community challenges brought by COVID-19.