Federal Reserve Board approves the initiation of an action to prohibit president and CEO and executive vice president of Farmers State Bank from participating in the banking industry

The following press release was published by the Board of Governors of the Federal Reserve System on Dec. 13, 2018. It is reproduced in full below.

The Federal Reserve Board on Thursday announced the action listed below: Frank Smith, President and Chief Executive Officer Farmers State Bank, Pine Bluffs, Wyoming Notice of intent to prohibit from the banking industry, dated Dec. 11, 2018 Mark Kiolbasa, Executive Vice President Farmers State Bank, Pine Bluffs, Wyoming Notice of intent to prohibit from the banking industry, dated Dec. 11, 2018 Additional enforcement actions can be searched for here.

For media inquiries, call 202-452-2955.

------------------------------- * On Dec. 13, the headline for this press release was corrected to note that the Board has initiated an enforcement action and that the individuals are not former employees of the bank.

Source: Board of Governors of the Federal Reserve System