Our History
Welcome to Farmers State Bank. We are an independent community bank with offices in Madelia, Lewisville and Lake Crystal, Minnesota. Since 1916 Farmers State Bank has provided friendly hometown service from the same location on Main Street in Madelia. Our Madelia building is on the National Register of Historic Places. We are proud of our distinguished history. At Farmers State Bank you can be assured of a safe and stable bank, while enjoying the newest technologies and personal service.
Madelia Bank History
Farmers State Bank opened for business on July 25, 1916. A portion of the present Madelia facility was built in 1872 and served as the Watonwan County Court House. For several years following 1872, a fight occurred between Madelia and St. James for the county seat location. In 1878, victory came for St. James when the county seat was moved there.
The former courthouse then became known as the Flanders Block and the upstairs courtroom as Flanders Hall, where many community social functions were held. The Madelia Odd Fellows Lodge used the second floor for many years and various retail stores and restaurants occupied the lower floor. Farmers State Bank acquired the Flanders Building in 1984, and had the building placed on the National Register of Historic Places.
In 2002, we acquired the Merchants State Bank of Lewisville, Minnesota. Through this merger, Farmers State Bank maintains a full service bank in Lewisville.
We also have a loan office in Lake Crystal, Minnesota. Loans Lake Crystal is located at 242 E. Highway 60 in Lake Crystal. This office specializes in Real Estate, Personal, Business and Farm Loans.
