The Farmers & Merchants Bank was chartered as a State Bank in 1907 in Fairview, Oklahoma with George B. Ward as President and Peck Welhausen as Cashier. The capital stock of the Bank was $10,000, and there were seven stockholders. In April of 1910, it was decided to increase the capital structure to $25,000 and convert from a state to a national bank.
Farmers & Merchants National Bank operated in a frame building located on a quarter section of land in Major County, Oklahoma until 1917, at which time a building was erected on the southwest corner of Main and Broadway in Fairview. The Bank did business there until it was moved to a new building at 115 East Broadway in 1963.
When this new bank structure was built on East Broadway in 1963, the financial structure had grown considerably from 1907 when Bank loans were $7,888.93 and deposits were $6,642.38. In June of 1963 the Statement of Condition showed loans of $1,592,429.63 and deposits of $3,464,840.44. The Bank had four Officers and six other Employees at this time.
The new 5,000 square foot structure costing $150,000 was said to be the very latest in modern convenience, and was planned for years of growth. The growth came sooner than the designers of that building expected. The State of Condition at the close of business March 31, 1977 showed loans of $10,102,820.39 and deposits of $13,901,697.21 with total assets of $15,563,96.81.
On June 13, 1977 another new facility was opened for business for the Farmers & Merchants National Bank. The new, completely modern banking building at 312 North Main in Fairview, Oklahoma contains 9,000 square feet of space and has three drive-in windows. We have continued to provide banking services at this same location since June of 1977.
We have had four locations and seven Bank Presidents. We believe the people we have at Farmers and Merchants National Bank are what makes us stand apart from others. Former Bank President, Dean Ranson, was quoted as saying, "Good employees are what makes a business, and good employees have made Fairview's Farmers and Merchants National Bank an outstanding bank."