General Information
Our Mission
Our mission is to provide high quality financial services to our communities and to promote economic growth and stability within our communities, while earning a reasonable profit. This will facilitate future bank growth, an attractive compensation and benefit package for our employees, and increased value to our customers and stockholders. It is our desire to remain an independent bank and to be aware of opportunities to acquire other financial institutions, or other methods of increasing our deposit base. Our bank’s foundation is based on the following values: Honesty, Integrity, Professionalism AND Confidentiality.
Community Banking for over 100 Years!
On March 18, 1907, The Farmers State Bank of Oakley, Kansas, opened its door to the public, with capital and surplus of $15,000. W. Wyscarver was President; W. J. Davenport, first Vice-President; J. D. Vawter, second-Vice President; Nelson Wolcott, Cashier; and F. W. Irwin, assistant Cashier.
The full page newspaper ad for the grand opening in 1907 read:
“This Bank is backed by good conservative businessmen who represent $200,000 worth of property. It has one of the best safes of any Bank in this part of Kansas and is guaranteed fire and burglar proof. Years of business experience on the part of its officers will make it safe, sound and conservative. It has at present a fine new building in the course of construction. Temporary headquarters are in the W. E. Fallas building just north of the Kauffman House. We invite you to come in and look us over and if we merit it should be pleased to have your patronage.”
Our first Banking house was in the building at 116 Center Avenue, just next to the current Oakley Graphic office, which was most recently used by Williams and Company. In 1935, the Bank bought and occupied the building of the First National Bank, which had been closed during the Bank moratorium of 1933. This building was located at 129 Center Avenue and was completely rebuilt and more than doubled in size. In 1977, Farmers State Bank made the move into an entirely new facility at 100 Center Avenue, where the Kauffman House and Dechant Boarding House were previously located. This move again more than doubled the usable space available, and allowed the Bank to provide customers more individual, modern and convenient services.
F. W. Irwin joined the Bank in 1912 and R. B. Medlin joined the Bank in 1919; these two men owned and operated the Bank until their deaths in 1958. In 1945, L. H. Medlin joined his father in the banking business and in 1948, William Chapman also joined FSB. In 1958, L. H. Medlin succeeded his father as President, and continued until 1970, when James H. Cross and Boyd L. Mills of Lewis, Kansas, purchased controlling interest in the Bank. In June of 1970, Boyd Mills was named President, William B. Griffith elected Executive Vice President, and L. H. Medlin continued as Board Chairman and Trust Officer. William B. Griffith, Galyn F. Crossley, C. Lewis Evins, and Linda Plummer also served as President for a time.
In August of 1989, Security Bancshares, Inc. purchased the stock of Farmers State Bank and in January of 1990 our Bank purchased the assets and liabilities of the Oakley branch of Peoples Heritage Savings and Loan. The holding company chose to continue the Bank as a “chartered bank” and not as a branch, because they felt that it was important for the community to retain its own identity. Duane K. Ramsey was elected Chairman of the Board in 1989 and currently continues in that position. Matthew M. Engel was elected as the new President & CEO of Farmers State Bank beginning in 2015 and currently serves in that position, making him the 12th President to serve Farmers State Bank.
The inside of our facility was remodeled in 2016 to make our space more modern and efficient in serving our customers. The look of the traditional teller lines has been removed and replaced with more convenient seating and desks so that those “traditional tellers” can now take care of almost all your needs at one location.
As of 12/31/2020 the Bank’s total assets are $169,836,000 and total capital is strong at $25,971,000.
Financial Information
We’re proud of over 100 years of service to the community and our community bank status. If you would like in-depth financial information on Farmers State Bank, including balance sheet, income statement, performance and condition ratios, or demographic information, you may click here to access the FDIC’s Institutional Directory database. Our FDIC Certificate # is 1867.
