Farmers and Merchants State Bank was founded in 1907 in Roscoe,MN under the name “First State Bank of Roscoe”. The Roscoe Bank had no electricity for lighting or heating until 1962, the teller windows were protected by metal bars, and shoe boxes were used as safe deposit boxes.
Roscoe Bank (1960's)
In 1964, the Bank was acquired by new owners, renamed Farmers and Merchants State Bank and moved to nearby Paynesville. The new home for the Bank was a remodeled hatchery building, located on the corner of James street in Paynesville. The building was then equipped with a new vault, actual safe deposit boxes and Paynesville’s first drive up window. For the Bank’s customers and 4 employees, these were welcomed changes from the former Roscoe building.
Although the Bank has been remodeled a couple of times since 1964, it still looks about the same and still sits on the corner of James street. The last purchase of the Bank was in 1982, and it is still indedpendently owned. Farmers and Merchants currently employs 11 full time workers, 2 of which worked with the Bank when it was located in Roscoe. The Bank has continued to evolve with the community throughout the years, but still takes pride in allowing some things to remain the same.
