LOCAL SAVINGS BANK CELEBRATES 75 YEARS IN ALLAMAKEE COUNTY

Farmers & Merchants Savings Bank met its beginnings 75 years ago in the bustling community of Waterville.
With bank failures common throughout the nation and the closing of the Farmers and Merchants State Bank of Waterville in 1924, a group of progressive citizens provided the work and $25,000 in capital to organize Farmers & Merchants Savings Bank in 1925 to enable the town access to localized banking services once again.
Farmers & Merchants Savings Bank raised additional capital from residents of Waukon and Waterville when the bank’s charter was moved to Waukon in 1962. Farmers & Merchants’ first Waukon facility was located at 17 1st Street NW and featured the bank’s first drive-up window. April 15, 1985, the bank began operating from its present location at 201 West Main Street. The Waterville office remained open until July 31, 1990.
Today, Farmers & Merchants Savings Bank has surpassed $64 million in total assets and offers traditional and contemporary banking services, in addition to discount brokerage and insurance services.
In honor of the bank’s diamond anniversary and in appreciation of the NE Iowa community, staff and directors of Farmers & Merchants Savings Bank will host a community dinner Thursday, June 22, at the Waukon Fairgrounds Pavilion.
Entertainment by “The Memories” will highlight the event and include a variety of music ranging from that of the ‘40s through the ‘90s. The musical group will also perform specialty comedic songs and is known for its beautiful vocal harmonies. “The Memories” have opened shows for Barbara Mandrell, Ricky Nelson, Alabama, Ronnie Milsap, The Oak Ridge Boys, and other top performers. Their performance will begin at 4 p.m. and continue until 7:30 p.m.
Dinner will be served between shows and be set off by the sounds of The Toe Tappers.
Customers and friends of the bank are encouraged to attend. There is no charge for the dinner or show; however, those planning to attend must stop by the bank prior to June 22 to pick up a dinner and show button. The bank hopes to fill all requests, to be honored on a first come, first serve basis.