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You Are Here: Home  About Us
History
HISTORY September 15, 1902, the Secretary of the State of
Iowa issued a charter to seven individuals to begin a Savings Bank to be known
as Farmers Savings Bank of
Walford, Iowa. It was chartered to open with a Capital Account of
$5,000 and surplus of $5,000. As the depression of 1932 hit, deposits did not
grow much. By December 31, 1941, during the beginning of World War II, the bank had assets of $275,137.52 and a capital account of $31,462.43, 10,000 more than they had in 1938. Growth of the bank at that time was approximately 1% per year, and that was during a good year. Salary of the president at that time was $150.00 per month, and there was one employee. At the close of business on December 31, 1952, we had achieved a million dollars on our published statement of condition. What an accomplishment, it only took 50 years to get there! Deposit growth of the bank has been good for the past several years, now being approximately 45 million total assets. On March 31st, 2005 we opened our branch at 4304 220th Trail in Amana, IA. Currently, we have 11 ATM locations, and 11 employees. We invite you to come and GROW WITH US!
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