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Steve Danforth: Cultivating Success Through Community Partnership and Trust at Farmers & Merchants Bank
Farmers & Merchants Bank is a committed partner to nurturing growth and success for the people and businesses it serves. Steve Danforth, managing director of AP Fabrications of Stuttgart, has benefited from such a partnership.
After graduating from the University of Arkansas with a degree in Agricultural Engineering, Danforth and his wife Donna moved to Stuttgart and opened their first accounts with the bank in 1980. (Donna would also join the bank and work there for 17 years.)
In 1995, Danforth embarked on a new venture – a rental real estate business – with his business partner Michael Shook and turned to Farmers and Merchants Bank as the primary lender. The bank’s instrumental financial support has served as a cornerstone of the business’ success in the real estate market, and the thriving enterprise has grown to 250 properties.
In 2000, Danforth started an engineering and consulting company, Agri Process Innovations, Inc. Shook joined API as the business expanded, adding more engineers and draftsmen over the years. It was one providential consulting project that led to a study on biodiesel production opportunities in Arkansas.
In 2005, Danforth plunged into sustainability and became part of the team that formed Patriot BioFuels, a biodiesel refinery in Stuttgart. After a tornado destroyed the business in 2008, Farmers and Merchants Bank was there to provide crucial financial help and support. Undeterred, Danforth and his partner rebuilt in Stuttgart under the banner of AP Fabrications, a manufacturing facility focused on excellence in service and quality. Over the next three years, the partnership flourished, leading to the construction of 20 biodiesel refineries across the country. Danforth’s unwavering determination and the bank’s steadfast commitment became the bedrock of resilience in the face of adversity.
“Without Farmers and Merchants Bank making our loans first on the property and then supporting us by providing the loans and operating capital on AP Fabrications as we purchased the property, we would have not been successful,” Danforth said. “We would not be anywhere close to where we are today in building jobs in Stuttgart and providing comfortable retirement for our employees.”
For 18 years, Farmers and Merchants Bank has been a key player in expanding AP Fabrications, showcasing a sustained promise to foster growth and prosperity within the community. The loans provided not only supported Danforth’s ventures but also played a pivotal role in job creation, further enriching the Stuttgart community.
Amid a volatile stock market about two years ago, Danforth turned to Farmers and
Merchants Bank’s trust and wealth management services program. Danforth expected a challenging year for stocks, and Farmers and Merchants Bank went the extra mile, providing him with a comprehensive analysis and trust proposal. This effort reassured Danforth, who entrusted his pension plan to the bank, which proved to be a wise decision. Since transferring his assets, Danforth has experienced above-average growth, a credit to the bank’s dedication to delivering tangible value to its clients.
As an active stock trader, Danforth finds comfort in the capable hands managing his pension plan at Farmers and Merchants Bank. The emphasis on accessible, local communication means he can easily reach out with questions or concerns, fostering a trust that transcends financial transactions.
Danforth and his wife lived in Stuttgart for 36 years raising their two children Justin and Stephanie there. In 2016, they moved to Little Rock to spend more time with their children and grandchildren, and Danforth continues to work in the business, returning to Stuttgart several days a week. To this day, the Danforth family still relies on Farmers and Merchants Bank for virtually all of their banking needs.
Steve Danforth’s story is a testament to the bank’s mission to provide customers with meaningful services and build strong relationships. This enduring partnership exemplifies Farmers and Merchants Bank’s dedication to being more than a financial institution but a catalyst for thriving communities.