Our History

At Farmers Savings Bank, growing strong relationships is something we take seriously as we seek to know and treat every customer like part of the family. As a full service, locally owned community bank, our team strives to meet the needs of our customers, communities and businesses. We work hard to stay current with ever-changing technologies and will always seek to offer the latest in online and mobile banking technology, all while maintaining the personal, small town touch you expect and deserve.

Mission Statement: Growing Strong Relationships and Strong Communities by providing tailored services and reliable counsel to fulfill financial goals and dreams, ONE customer at a time.

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.

In June of 2002, a new branch of Farmers Savings Bank was opened at a temporary location in Lakeland Square in Milford. The permanent Milford Bank facility was constructed and in operation the 1st week of January 2004.

In 2016, Farmers Savings Bank celebrated 100 years of serving our local communities. FSB currently has Deposits totaling over $115,000,000 and Assets over $150,000,000.

Farmers Savings Bank has changed to meet your needs over the last 100 years, but one thing hasn’t changed. Our Team is excited to serve you and grow strong, trusted banking relationships and communities over the next 100 Years. Thank you for your continued confidence and trust in Farmers Savings Bank!