The term "individual independence" has been associated with and intertwined with Farmington and its development since before the city was platted in 1834.
A small band of Pottawatomi Indians, tired of continual warring and bloodshed, showed their independence when they left the rest of their tribe and settled in what is now Farmington, opting to find a place where they could live in peace.
The first permanent settlers, the Jonah Marchant family, exemplified independence when they settled among the Indians in a deserted cabin they soon called "home."
The many residents of Farmington who offered their homes as part of the "Underground Railroad" showed independence and commitment to their beliefs and support of individual freedom.
The Italians, Slavs, and Lithuanians, who along with many others came to Farmington in the 1870's to work in the dangerous deep shaft mines, reflected courage and independence in supporting their families during difficult times.
And, while not as dramatic or life-threatening, the spirit of individuality and independence is still evident in the Bank of Farmington, which was chartered in January 1903 after being organized by a small group of investors who recognized the need for a local bank. Descendents of those original investors still have the majority of the stock ownership in the Bank of Farmington, giving true meaning to the term, "independent, locally-owned community bank."
The Bank of Farmington has today evolved into a full service bank, offering our customers virtually everything that a larger regional bank can offer. Even more than that, we offer knowledgeable, efficient, high quality service presented in a sincere and friendly manner. At the Bank of Farmington we know who you are, know you by name, and know and understand your banking needs and concerns.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154