The Farmers & Merchants Bank of Craig County was founded in 1917.
Beginning in the 1870’s, the Bank of New Castle was the only bank in Craig County but failed due to a financial “panic”. In an attempt to fulfill the financial needs of the county, First National Bank began operation in the same building. It was speculated that some people were superstitious of banking with First National Bank due to the bank being operated in the same building as the failed Bank of New Castle. Others speculated that the “farmers” and the “merchants” in the county were unhappy with the organization of First National Bank.
The current bank lot was purchased from the bankruptcy receiver for the Bank of New Castle. An organizational meeting was held resulting in The Farmers & Merchants Bank of Craig County opening its doors for business on May 17, 1917.
Interesting facts in the history of The Farmers & Merchants Bank of Craig County:
- Opened in 1917 with $30,000.00 in capital stock and two employees.
- The bank has operated in the same building since 1917
- The front teller window is the original window and is still in use today
- In 1995, the bank opened a new operations center and two lane drive thru
- Today the bank is owned by just over 200 local stockholders
After 100 years and only 6 CEOs, The Farmers & Merchants Bank of Craig County is made up of nine board directors, twenty staff members and many dedicated customers.
As the community grows and higher technology is in demand, we will strive to meet the needs of every individual customer. With the ever changing world we live in, we will always be a bank you can trust will know you by name and recognize you when you come in to see us.