The bank was first a general store owned by L.T. Breen. Twelve years later it was destroyed by a fire. It remained an empty lot for a number of years.
The Farmers State Bank was incorporated on March 21, 1911 and was located in the L.P. Anderson building. P.O. Unumb was the first president, Charles B. Kloos as vice-president and Frank Buscher was cashier. G.A. Lofgren was hired as cashier in 1914. In 1915 a new bank building was built between Breen’s General Store and Helland’s Store. The Helland’s Store had to be moved five feet east to make room for the new bank. This building is part of the present Farmers State Bank building.
Anton Lofgren took over in 1939. In 1941 David Lofgren was hired by the bank and took over in 1953 upon the death of Anton. In 1970 the bank was sold to I.L. Swanson and H.B. Johnson. They became the president and vice-president respectively. Ebba Olson was hired as cashier.
In 1971 Swanson and Johnson sold the bank to Verle and Janice Hammer with Verle taking over as president and R.E. Wiley became vice-president. Verle continued to serve as president until 1998 when Kevin Hammer took over as president.
In 1972 the bank purchased the vacant Brigg’s Café building next door and in 1973 construction began on an addition to the bank. In November of 1974 a grand opening was held to celebrate the construction and extensive remodeling of the bank. In 1982 a drive up teller window was added to the bank.
Farmers State Bank is the chartered independent bank that has served the Hoffman community since 1911. We remain a small, independent bank committed to serving the needs of our community. This history of success is a testament to the quality service provided by our staff as well as the support of our customers. We are absolutely committed to being a partner in your financial success.