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HISTORY
Welcome to Farmers State Bank. We are an independent community bank located 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 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.
Bank History
Farmers State Bank opened for business on July 25, 1916. A new bank building was
completed in December, 1916. The
original building and vault are part of the present bank facilities. The
bank has always been strong, surviving the depression and national bank
holiday closings in 1933 with no loss to any depositor during that trying
period, nor at any time in the bank’s history.
In 1985, the bank expanded into the adjacent Flanders
Building.
Flanders
Building
History
The Flanders
Building
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, the first building in Watonwan
County
so designated.
The entire front of the building facing Main Street
was restored to closely resemble the original façade. The lower level interior was renovated for use by the bank.
Flanders Hall, the second floor, remains essentially unchanged
since the Odd Fellows began using the floor many years ago as their lodge
hall.
In August 2002, Merchants State Bank of Lewisville, Minnesota,
merged with Farmers State Bank of Madelia. Through this merger, Farmers State Bank maintains a full service bank in Lewisville. The former Merchants State Bank was established in 1902 and has continually anchored downtown Lewisville.
Recently
In July 2005, we expanded to the Lake Crystal, Minnesota area, opening a loan office. At this location we offer full service lending including real estate loans, business/commercial loans, agricultural and consumer loans.
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