All in the family: Farmers State Bank changes leadership

Linn County's largest family-owned financial institution has announced a change in corporate leadership.

Gene Neighbor has been named president and chief executive officer of Farmers State Bank in Marion. Neighbor, who has worked at Farmers State since graduating from Iowa State University in 1973, was previously executive vice president and chief credit officer.

Gene Neighbor succeeds Doug Neighbor, who will continue as vice chairman, focusing on the bank's strategic planning initiatives, customer relations and holding company activities.

Farmers State Bank has been locally owned for its entire 87-year history and has been owned by the Neighbor family since 1967.

Steven Neighbor, who represents the third generation of the family, has been named executive vice president and chief credit officer. He is the son of Farmers State Chairman Kent Neighbor.

Morris Neighbor, chairman-emeritus of Farmers State, joined Farmers State as a teller in 1945. He gradually moved up the corporate ladder to become executive vice president.

In 1967, Neighbor and his wife, Betty, purchased majority ownership of the bank. He became president in 1968.

Farmers State, with assets of more than $660 million, has six locations including its main facility in Marion, along with offices at Collins Road Square, Edgewood Plaza Mall, Van Buren Village, Hiawatha, and Alburnett.