Approval for a "de novo federal savings bank" has been granted the FB BanCorp by the Office of Thrift Supervision, the federal agency that regulates federal savings banks.  The new Farm Bureau Bank, FSB, will provide consumer banking services to Farm Bureau members in 39 states with more than 3 million members.

Farm Bureau Bank will coordinate the delivery of its products and services with insurance and other membership services now available to Farm Bureau members.  It represents "an exciting new opportunity for Farm Bureau members and their families,' says Bob Stallman, chairman, FB BanCorp.

The new bank was developed by farm Bureau members and will allow them to bank with "people who understand their needs, people they know and trust," Stallman adds.

Farm Bureau Bank will provide initially a broad array of deposit and lending services, including checking accounts, money market savings accounts, certificates of deposit, home loans, new and used vehicle loans and credit cards.  The bank will start operations with more than $100 million in assets.

FB BanCorp is a Nevada corporation with stock owned by more than 40 Farm Bureau organizations.  Farm Bureau Bank will be headquartered in Sparks, NV, with its operations center in San Antonio, TX.