[Congressional Record Volume 148, Number 71 (Tuesday, June 4, 2002)]
[Senate]
[Page S4962]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              TRIBUTE TO FARMERS NATIONAL BANK OF LEBANON

 Mr. BUNNING. Mr. President, I rise among my colleagues today 
to duly honor Farmers National Bank of Lebanon, KY. For well over a 
century, Farmers National Bank has provided the people of Lebanon with 
quality financial and social services.
  Founded in 1890 by T.S. Edelen and a group of local citizens, Farmers 
National Bank officially opened its doors to the public on April 1, 
1890 with a capitalization of $50,000. In 1914, the bank joined the 
Federal Reserve System, and in 1917 it purchased the property it had 
rented on Main Street since its opening morning. During the depression 
of the 1930s, banks across the Nation and Kentucky were forced to close 
their doors to their respective communities due to a lack of financial 
assets. Farmers National Bank of Lebanon stayed financially strong 
during even the darkest days of the great depression and remained open 
throughout. Today, led by president Gene Spragens who took over control 
in 1950 after serving 28 years as bookkeeper for the bank, Farmers 
National Bank has 26 employees and assets of $88 million; pretty 
impressive for a bank which started off with a mere $50,000.
  Besides the financial services it has provided since 1890, Farmers 
National Bank of Lebanon has also worked extremely hard to promote the 
performing arts in the local community. Over the years, programs have 
included pianists, string quarters and even a chorus with an orchestra. 
Gene Spragens firmly believes that a bank has a responsibility to the 
people to make a community as prosperous financially and socially as 
possible. Whether it be a much needed home loan or a aesthetically 
moving piano recital, Farmers National Bank is working for the people 
of Lebanon.
  In this day and age, locally owned, community oriented businesses are 
few and far between. For over 100 years now, Farmers National Bank of 
Lebanon has remained just this. They have been through good times and 
bad times. They have gone blow-for-blow with the hands of time and 
survived even the most difficult of circumstances. I ask that my 
colleagues join me in thanking everyone involved with Farmers National 
Bank of Lebanon over the last 112 years for their dedicated service to 
the betterment of the Lebanon community.

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