Farmers Trust Co. had another year of record growth in 2025.
Revenue grew 15% to $15 million while assets under management increased 13.5% to $2.2 billion, demonstrating the strength of the company’s client-focused approach and market position.
“Despite a challenging start to 2025 in the equity markets, tailwinds later in the year combined with our disciplined investment strategy delivered strong performance for our clients,” says David Dastoli, president.
A milestone came with the December 2024 acquisition of Crest Retirement Services, which added approximately $800,000 to revenues and strengthened Farmers’ retirement planning capabilities. The integration was executed with no customer losses, and marked the company’s expansion into the Columbus, Ohio, market.
The company’s footprint now ranges from Columbus to western Pennsylvania.
Farmers strengthened its team with two key hires last year.
Wendy Lewis joined as trust officer, operating out of the Hudson, Ohio, branch. Joe Waterman, an experienced financial professional, was added as portfolio manager at the Howland branch.
These additions enhance the company’s ability to deliver sophisticated wealth management services across its eight-office footprint in Boardman, Howland, Canton, Dublin, Fairview Park, Hudson, Wooster, Ohio, and Aspinwall, Pa.
Farmers Trust offers expert estate planning, investment management, trust administration and retirement services.
It prides itself on being an independent financial advisory firm with no internal proprietary products or conflicts of interest. While other firms offer their own family of mutual funds and investments, Farmers avoids inherent conflicts of interest and acts in a fiduciary capacity for all clients.
“Our model of local delivery of highly sophisticated administrative and investment services continued to result in strong organic growth and another record year,” Dastoli says. “We continue to receive and appreciate quality referrals from our clients, local professionals and our bank network that reflect the confidence they have in our
company.”
The company and Farmers Charitable Foundation support nonprofit organizations, distributing nearly $7 million annually through foundation grants and through its administering of Donor Advised Funds that carry out a client’s philanthropic intent.
Looking ahead, Farmers intends to expand its fiduciary services with new directed delegate trust services.
“This model allows us to work collaboratively with local financial professionals by providing trust administrative services,” Dastoli says. “Clients can maintain their existing relationships with their current investment advisers while benefiting from the expertise and security of a corporate trustee.”
