Farmers Savings Bank was chartered on August 24, 1916 and was open for business September 11, 1916. A group of area farmers pooled their resources to start Farmers Savings Bank in Fostoria, Iowa. The bank was started on $15,000 with $6000 of that spent on a new building. The bank published its first financial statement eight months after opening with $78,000 on deposit. Farmers Savings Bank was one of two banks in Clay County Iowa to survive the great depression crisis without closing for a reorganization period. In 1962 a new facility was built to replace the first building, moving off of main street to the edge of town next to Highway 71. By that time, the bank had grown to 1,300,000 in deposits. The bank had grown to 12,000,000 in deposits and 15,000,000 in total assets in 1984. An additional and temporary location was opened in June 2002 in Milford. The permanent facility was constructed and in operation the 1st week of January 2004. 2016 marks the start of our 100th year in banking!! FSB currently has Deposits totaling over $78,000,000 and Assets over $100,000,000. We are excited to serve you over the next 100 years!
Clay County, IA
Visit our county page and you will find information about our town and county's points of interest, festivals/events and faith community. You also will find stories about the contributions made by farmers/ranchers located throughout our county and of course you will learn about the community organizations that have built and continue to build strong communities (chambers, community groups, and departments, etc) and much more when you visit the Clay County, IA page.