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FRANKFORT, IN -- Karen F. Gregerson, President and CEO of The Farmers Bank, will retire from that position in September 2023. 

Gregerson, who joined the bank in that role in 2016, also announced that the bank’s board of directors has begun the process of identifying a successor. “The timing should allow me several months to work with my successor, allowing for a smooth transition,” she explained. Gregerson also serves as one of the directors. 

“Karen continues to be an outstanding leader for The Farmers Bank, and we appreciate her willingness to help us through the transition,” said Jack Ransom, Chairman of the board of directors. “While there’s always some sadness when a valued employee announces retirement plans, her timing is consistent with what she told the Board when she joined our team.” 

She reported her motivation is a desire to spend more time with family and friends, and she believes the bank is in good hands. “The Farmers Bank is strong and growing, and we’re blessed with an extraordinary staff,” Gregerson noted. “I’ve worked hard for the past four decades and I’m proud of what I’ve been able to accomplish with the help of so many skilled and caring colleagues. Now it’s time to focus my energy outside the bank. I know retirement marks a significant adjustment, but it’s an adjustment I’m excited to make.” 

Gregerson began her banking career in Marion following her graduation from Ball State University’s Miller College of Business. She also earned a master’s degree from Indiana Tech. A Certified Public Accountant, Gregerson served as Chief Financial Officer for STAR Financial Bank before being named to her present position in 2016. 

In 2020, the Indiana Bankers Association honored Gregerson with its Woman of the Year award, and inducted her into its Forty Year Club earlier this year. In 2016, BankBeat magazine recognized Gregerson as an Outstanding Woman in Banking. She was also the first female member director elected to the Federal Home Loan Bank of Indianapolis, where she currently serves as Vice-Chair, and has lent her expertise and leadership to a long list of nonprofit organizations. 

Karen and her husband, Roy, have three grown children, Royce, Emily, and Ethan, a daughter-in-law, Casey, and son-in-law, Matt. They have also been blessed with a granddaughter, Lucy Catherine with another granddaughter due in November. Roy & Karen intend to reside in Frankfort where she will continue serving on the Board of Directors of The Farmers Bank and while also remaining involved in community service organizations. 

The Farmers Bank is an $800 million asset organization chartered in 1876 with headquarters in Frankfort, IN. The Farmers Bank is locally owned and operated with 11 banking offices located in Central Indiana providing retail, business, investment & trust services, mortgage, and electronic banking services. Member FDIC, Equal Housing Lender.

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