Farmers Trust and Savings Bank Announces Agreement to Acquire Peoples State Bank of Wells

 

Acquisition expands Farmers Trust and Savings Bank’s footprint in south-central Minnesota while strengthening shared commitment to local and agricultural communities 

 

Buffalo Center, IA (December 2025) — Farmers Trust and Savings Bank (FTSB) and Peoples State Bank of Wells (PSB) jointly announced today that they have entered into an agreement under which FTSB will acquire PSB. The acquisition expands FTSB’s community banking presence into a neighboring rural market, reinforcing both banks’ dedication to supporting local families, businesses, and the agricultural communities that drive their economies. 

“This agreement represents an important opportunity to bring our community-focused approach to new areas while honoring the trusted relationships that PSB has built,” said Doug Leland, FTSB President. “Our banks share deep roots in agriculture and a commitment to local decision-making, personalized service, and investing in the places we call home.” 

While FTSB currently serves customers in communities neighboring PSB’s market area, the acquisition will extend its reach to include new customers and communities that share similar rural values and priorities. 

Following the merger, PSB customers will continue to experience the same friendly, familiar service they rely on today. Over time, they will gain access to a wider range of products, enhanced digital banking tools, and expanded lending resources—all while continuing to work with the same local bankers they know and trust. 

“This partnership is a positive step for our customers, employees, and community,” said Ann Marie Schuster, PSB President. “By joining with FTSB, we can continue delivering the relationship-based service our customers value, while gaining additional resources and technology to help our rural and agricultural communities grow and thrive.” 

The transaction is subject to regulatory approval and customary closing conditions and is expected to be completed in the first quarter of 2026. Until then, both banks will continue to operate independently. 

Together, FTSB and PSB will build on their shared legacy of community banking—supporting the people, farms, and businesses that make their communities strong.

About FTSB: FTSB currently has four locations in north-central Iowa – Buffalo Center, Lakota, Britt, and Lake Mills, as well as one location in south-central Minnesota – Bricelyn.

You can find out more by reading the Customer FAQs here.

 

FTSB Contacts: 
Alicea Porter 
Vice President Operations 
Farmers Trust and Savings Bank 
641-562-2696 
aliceap@ftsbbank.com
www.ftsbbank.bank 

Lexi Scholten 
HR & Marketing Officer 
Farmers Trust and Savings Bank 
507-320-7400 
Lexis@ftsbbank.com 
www.ftsbbank.bank

PSB Contact: 
Ann Marie Schuster 
President 
Peoples State Bank of Wells 
507-553-3155
ASchuster@psbankwells.com
www.peoplesstatebankwells.com


 

 

 

TEST 123

It has been frustrating at times this spring to complete the application of post-emergence herbicides to our soybean crop.   Windy conditions and scattered rain events have prevented spraying in some locations.   A very popular product for many farmers is Flexstar.  This product is one of the few out there that can control waterhemp and other troublesome broadleaves.

The issue now is that Flexstar has a 10 month rotation back to corn in Minnesota.  So that pushes 2018 planting back into May at this point.  Any Flexstar applied from here on out has an increased chance of carryover injury to next year’s corn.  This herbicide needs rainfall and soil microbe activity to break down.  If things turn dry or there is a hard early freeze-up of soils, then the active ingredient (fomesafen) can persist until the next growing season.

So it is highly recommended that you say farewell for 2017 to your old friend Flexstar and choose a different herbicide if you are still trying to spray for broadleaf weeds in your soybeans.

Good Luck ,

Mark

 

Mark Producer Page headshotAbout Mark Warmka

Mark has worked at Peoples State Bank since 2003, serving as lead agricultural lending officer and bank Senior Vice President. He is also a member of the Board of Directors. Mark has an extensive background in the financial services industry, possessing both investment and insurance licensing and is fully accredited as a crop insurance agent.

He and his wife, Kate, an elementary teacher in Blue Earth, live on and manage the home farm near Easton. Their daughter, Amanda, is a Physician Assistant at UHD Hospital and daughter, Sara, is teaching and coaching at Fairmont Public Schools. 

You can reach Mark by email or at 507-553-3155.

» More blog posts by Mark here

The clock is running out! This is not about a basketball game in the fourth quarter, it is referring to the time you have left to report your acres to the FSA office. The annual deadline is July 15th and that is fast approaching. The Faribault County office does not require appointments for this process, so you can just show up….but you may have to have some patience as other producers will also be there as well.

Don’t forget to bring that report (the FSA 578 form and map photos) to your crop insurance agent immediately after you are finished at the Farm Service Agency. Crop insurance agents are also working on that deadline to submit your planted acreage for multi-peril insurance.

A couple of other items that pop up this time of year---Many of you used the FSA grain loan program, and those bushels are coming to town now. Remember to “call before you haul”. You need to release bushels with the FSA before you remove the grain from the bin. It has been frustrating to get grain hauled to some warehouses or ethanol plants this summer, so be aware of your expiration dates on existing releases, as you may have to call again for an extension of time to haul. I know it seems that you are being hassled about this, but remember that the FSA staff is just doing their job and that your grain is technically collateral on a loan from the US taxpayer.

One last item……This is ditch mowing season, please avoid any Evel Knievel type dare-devil driving on steep ditch banks. Slow down and be careful.  

Good Luck Out There!

Mark

 

Mark Producer Page headshotAbout Mark Warmka

Mark has worked at Peoples State Bank since 2003, serving as lead agricultural lending officer and bank Senior Vice President. He is also a member of the Board of Directors. Mark has an extensive background in the financial services industry, possessing both investment and insurance licensing and is fully accredited as a crop insurance agent.

He and his wife, Kate, an elementary teacher in Blue Earth, live on and manage the home farm near Easton. Their daughter, Amanda, is a Physician Assistant at UHD Hospital and daughter, Sara, is teaching and coaching at Fairmont Public Schools. 

You can reach Mark by email or at 507-553-3155.

» More blog posts by Mark here