The Farmers State Bank of Circleville was chartered October 27, 1900 with $5,000.00 capital. By 1916 the total assets had increased to over $100,000.00. The bank survived a robbery in 1923, the Circleville fire in 1931, and The Depression and resulting bank failures. It was a matter of pride to have been the first bank in the county to be granted permission to re-open following the banking holiday of the 1930 Depression.
In 1935, the bank became a member of the FDIC. In 1948, capital was increased to $25,000.00. In 1960, total assets reached $1 million, $5 million in 1978, $10 million in 1984, and at present is over $60 million.
In 1989, Farmers State Bankshares, a bank holding company, was formed. All shares of The Farmers State Bank are now held by the holding company with all shareholders exchanging shares of bank stock for shares of holding company stock. The corporate stock continues to be closely held by many of the same area families.
The bank has been known as a farmers' bank. It has built a reputation for conservative values through the policies of the directors and actions of the chief executive officers. The current President and CEO is Tonya Barta.
The Circleville building was built in the early 1900's, and underwent extensive remodeling and expansion in 1960. By the 1980's the bank was "bursting at the seams". A change in state banking regulations allowing branch banking gave the opportunity to expand. A new building was constructed, and the Holton branch of The Farmers State Bank opened in the spring of 1991. The branch allowed the officers and staff better working conditions, and has allowed the bank to better serve a growing customer base. The Holton location has experienced expansions and renovations through the years.
As the Board of Directors saw a decline in bank activity in Circleville, a decision was made to move the bank charter to Holton where activity was flourishing. In June of 2012, the Board of Directors made a very difficult business decision to close the Circleville Branch. The building and some of the contents were gifted to the City of Circleville. Strong ties to the Circleville community remain; the roots of The Farmers State Bank!
It is our desire to continue to provide the highest quality financial services to our communities.