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McFarland State Bank

Overview:

With $15,000 and a common goal, seven McFarland businessmen initiated the framework for a lasting institution, the McFarland State Bank.

The year was 1904. The founders, O. T. Olson, Charles Hunter, M. D. Larson, H. C. Kleine, John Austin, John Anderson, and P. E. Brickson began by adopting a set of by-laws to govern the workings of the new bank. Anderson became the bank's first president. Brickson acted as vice president, and Hunter served as cashier. All seven founders were on the first board of directors.

With the formation of the new bank already underway on paper, the founders began a search for a suitable facility to make it a reality. A lot was purchased at 5906 Main Street and, in January, 1905, the bank opened its doors to the community.

While the community and the nature of business have changed dramatically over the years, McFarland State Bank has remained steadily on the upswing. In the 1920's when many financial institutions were suffering on all fronts, the bank remained financially solid and respected throughout the area. In 1968 the bank moved across the street and opened up a more spacious building. As the bank continued its growth an addition was added to the building in 1983. As our society continues to become more mobile the bank decided to build a branch location on Highway 51 in 1995 featuring 6 drive-up lanes. The bank doubled in size over the next 5 years and it became evident that the majority of the banks customers preferred to utilize the Highway 51 branch. In 2003 the bank sold it’s location on Main Street to the Village of McFarland. The bank began a major addition to its highway 51 location to accommodate the entire staff and meet the future needs of its customers.

When the bank was founded, it served a rural community, miles from the state capitol. (Though there is still an agricultural influence in the market area, McFarland, like most of the surrounding area, is rapidly becoming urbanized.)

McFarland State Bank is located at 5990 Highway 51. This location has lobby hours Monday through Friday and Saturday morning. The drive-up and walk-up are available Monday through Friday and Saturday morning. A TYME ATM is also available.

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