Farmers Bank and Trust Company

120 years of community connections
By Jamie Simmons

Farmers Bank and Trust Company was founded in 1906 in Magnolia, Arkansas, by T.S. Grayson and Robert Warnock Sr. with a philosophy of serving their neighbors. The company started with $75,000 in assets, equivalent to approximately $2,782,500 in 2026 dollars. Since its founding, the bank has reinforced its founding philosophy by heavily investing in the communities it serves.

“The ethos of the company has always been that banking is about relationships,” said James Bramlett, Texarkana market president. “We serve our neighbors, local businesses, schools, and nonprofits, not just accounts. When the community succeeds, we all succeed.”

Left to right: 1. Cofounder T.S. Grayson served as bank president for 33 years, including through the Great Depression. 2. Farmers Bank & Trust was founded in 1906 in Magnolia, Arkansas. 3. Cofounder Robert Warnock Sr. served as president of the bank for 10 years, until he was elected to the Arkansas State Legislature in 1916.

When FBT opened, the primary focus was providing deposit services to the farmers, sawmill employees, and working-class families of Columbia County. Neither Grayson nor Warnock had extensive formal education, which makes the success of the bank even more impressive. The former was an acknowledged “math whiz,” and the latter served as the company’s front man until 1916, when Warnock was elected to the state legislature. At that time, Grayson stepped into the lead role and served for 33 years. 

“Mr. Grayson and Mr. Warnock would be amazed and proud to see what their small community bank has become 120 years later. I think what would mean the most to them is that the heart of the bank has never changed. What they started as a small act of service has become a legacy of family, trust, and commitment that reaches far beyond what they could have imagined.”

— Molly Burns

Grayson’s tenure as bank president included guiding the company through its first real test: the Great Depression. In spite of the failure of many larger, more established banks, Farmers Bank and Trust remained open. At one point, FBT was one of only a handful of banks to remain open in the state of Arkansas. The only time the bank closed was due to a federally mandated bank holiday.

“In 1933, President Franklin Roosevelt temporarily closed the nation’s banks to stop the panic and prevent bank runs,” explained Molly Burns, the great-granddaughter of the founders. “Farmers Bank’s doors were physically closed, but Mr. Grayson stood outside the front door with saddlebags full of money. He told customers that if they needed their money, he would give it to them. He also told them something even more important: he was keeping his own money in the bank, and he would protect their money just as he protected his own.”

Farmers Bank & Trust in Magnolia, Arkansas, has undergone several remodels since its founding.

After weathering the financial crises of the 1930s, FBT forged ahead into the modern era. Throughout the 1940s and 50s, it continued to evolve with the community. This included hiring the first women to work at the company. During this time, Robert Warnock’s son, Bob, took the helm. In an almost movie-like twist, Nina Grayson, daughter of T.S. Grayson, married Bob Warnock. Their descendants are still leading the bank today. 

Farmers Bank and Trust remained a local bank until the 1990s, but the groundwork for expansion began in the 1980s under the leadership of Bob Burns, grandson-in-law of the founders (Molly’s husband). Bob joined FBT in 1980 and was elected president in 1983. Under his leadership, FBT made several changes that allowed the bank to begin the evolution from a small community bank to the multi-billion dollar regional institution it is today. Those changes included updating technology and expanding banking products and services offered by FBT.

Bob Burns (1944-2024)

In 1998, FBT began its first expansion by acquiring the First Nations Bank in Camden, Arkansas. From there, the steady expansion continued to include locations across Arkansas, Oklahoma, and Texas. This gradual expansion included Texarkana’s first branch in 2012. The most recent locations opened in Anna, Texas, located in the north DFW area.

Molly Burns

“We have about $3.15 billion in assets today with 34 locations across Arkansas, Northeast Texas, and Southeast Oklahoma, and we believe there is still significant opportunity to grow, both in the communities we already serve and in markets where we are still relatively young,” said Chris Gosnell, bank president. He shared that his vision for the future of the bank is “bigger, but the same at the core. The way people bank will continue to change, but what I do not want to change is the reason people choose Farmers Bank & Trust: so that they can have a relationship with people who know them and so that decisions can be made by people who understand their communities.”

Elizabeth Burns Anderson

Chris (married to Rebecca Burns) was elected as bank president, CEO, and chairman of the board in 2017. In 2020, Elizabeth Burns Anderson, daughter of Molly and Bob, became senior vice-president. She also serves as the executive director of the Farmers Bank Foundation.

Chris Gosnell

“Giving back has always been part of who we are, but the foundation allows us to be more intentional and impactful in how we serve,” Elizabeth said. “We don’t just want to write checks.  We want to build partnerships, provide resources, and help nonprofits strengthen their ability to fulfill their missions. We support schools, municipalities, veterans, community organizations, and initiatives that contribute to the overall economic strength and quality of life in the communities we serve.”

Farmers Bank & Trust expanded into Texarkana in 2012.

James Bramlett, FBT’s Texarkana market president, also has deep local roots. His family’s connections stretch back to Texarkana’s boom days, when his great-grandfather arrived to work with the Texas and Pacific Railroad. Bramlett grew up here, earned his college degrees here, and even served 10 years as mayor and two years as a city council member. He has worked with the Chamber of Commerce, CHRISTUS St. Michael Health System, and the Four States Fair, and he has been the board chairman of the A&M Alumni Association. Bramlett has also served for 20 years on the Pleasant Grove Education Foundation. As market president, he has overseen the growth of FBT’s Texarkana locations from one branch with five employees to the current four branches with 85 employees. 

James Bramlett, former mayor, is the Texarkana market president.

“Mr. Bob Burns, our former president, believed Texarkana was an important community where Farmers Bank & Trust could build lasting relationships and make a meaningful impact,” James said. “His decision to establish a presence here represented a long-term commitment to the people and businesses of Texarkana.”

Farmers Bank & Trust was named Best Bank in the 2026 “Best of Texarkana” competition.

Through all of the expansion and the journey into the future, Farmers Bank and Trust has always held onto its founding principle of “know your customers, invest in your community and help your neighbors succeed.”