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In 1931, the Owsley County community began the rebuilding process after the Great Depression. The community requested that various people throughout the area invest money to start a new bank. The people listened and soon, 32 investors with $15,000 pooled their money to start the Farmers State Bank. They named the bank after they purchased a vault door from a failed bank which was named Farmers State Bank.
First Western Bank was chartered as Citizens Bank in Booneville, Arkansas, in 1910. They are owned by First Western Bancshares, Inc., a holding company established in 1984. now operate as one bank in two regions: Western Arkansas and Northwest Arkansas. The Banks offers investments, financing, insurance, remote banking, personal banking, and direct deposit.
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