Question 1

What is The Farmers State Bank - Wathena?

Accepted Answer

The Farmers State Bank - Wathena is a community-focused commercial bank serving Doniphan County, Kansas, and the surrounding St. Joseph, MO-KS metropolitan area. As a state-chartered, FDIC-insured institution, the bank operates as a subsidiary of Wathena Bancshares, Inc.

With approximately $77.3 million in total assets and $70.2 million in deposits, the bank maintains a single office location while providing comprehensive banking services to individuals, families, and businesses in the local community. The bank has demonstrated strong financial performance with a return on assets (ROA) of 1.18% and return on equity (ROE) of 16.37%.

Question 2

When was The Farmers State Bank - Wathena founded?

Accepted Answer

The Farmers State Bank was founded on May 3, 1903, when 39 local citizens pooled $10,000 to establish the institution. The bank's founder, L.A. Libel, was just 23 years old when he opened the bank, serving as the entire workforce in the roles of cashier and manager. Contemporary newspapers speculated that he was the youngest bank manager in the United States at the time.

The bank's founding purpose was to serve the agricultural community of Wathena and surrounding Doniphan County. Throughout its history, the bank has remained dedicated to its original 1903 founding principles of service to the community through sound banking practices.

The bank has been led by three generations of the Libel family. L.A. Libel, Jr. joined the bank after World War II and became President and CEO in 1958. Following his unexpected death in 1967, his son L.A. (Tony) Libel III assumed leadership at age 25, continuing the family's commitment to community banking.

Question 3

Where is The Farmers State Bank - Wathena headquartered?

Accepted Answer

The Farmers State Bank - Wathena is headquartered in Wathena, Kansas, located in Doniphan County. The bank's main office is located at 211 St. Joseph Street in Wathena, where it has been situated since February 14, 1961.

The bank has occupied several locations throughout its history. Originally located on the south side of Main Street in the former Stees Hardware store, it moved in 1907 to the Fruit Growers Association building on the corner of Main Street. After purchasing that building in 1945, the bank constructed and moved into its current purpose-built facility across the street in 1961. The facility was expanded and remodeled in 1993, adding 2,500 square feet to the existing building.

Question 4

Where does The Farmers State Bank - Wathena operate?

Accepted Answer

The Farmers State Bank - Wathena operates exclusively from its single location in Wathena, Kansas. The bank primarily serves Doniphan County and the surrounding communities within the St. Joseph, MO-KS metropolitan statistical area.

As the largest bank in Doniphan County since its 1959 merger with the Fruit Growers State Bank, the institution focuses on serving the local community's financial needs. The bank's service area is characterized by its agricultural economy, and the institution has developed deep roots and relationships within this rural Kansas community.

Question 5

What services does The Farmers State Bank - Wathena offer?

Accepted Answer

The Farmers State Bank - Wathena provides a full range of community banking services including personal and business checking accounts, savings accounts, certificates of deposit, and various loan products. The bank specializes in serving the agricultural community with financing solutions tailored to farmers and agribusinesses.

Digital banking services include free online banking with 24/7 account access, allowing customers to view account balances and transaction history, transfer funds between accounts, schedule future and recurring transfers, and access up to 60 days of transaction history. The bank also offers online bill pay services for recurring and occasional payments.

While the bank's website mentions online banking capabilities at fsbwathena.com, specific information about mobile banking apps and additional digital services is limited. Customers can conduct basic banking transactions remotely and have access to their checking, savings, investment, and loan accounts through the online platform.

Question 6

What makes The Farmers State Bank - Wathena unique?

Accepted Answer

The Farmers State Bank - Wathena stands out for its remarkable longevity and resilience, having operated continuously for over 120 years under the leadership of three generations of the same founding family. The bank celebrated its centennial anniversary in May 2003 with community-wide festivities, marking a century of uninterrupted service.

Throughout its history, the bank has survived extraordinary challenges including the Great Depression (during which depositors never lost a cent), World Wars I and II, two bank robberies, several droughts, and two devastating floods. This track record demonstrates the institution's financial stability and commitment to protecting customer deposits.

The bank's deep community roots are exemplified by its founding principles that remain unchanged since 1903: service to the community through sound banking practices. As the largest bank in Doniphan County since 1959, it has maintained its local ownership and independence while adapting to serve multiple generations of families in the region.

Question 7

What type of financial institution is The Farmers State Bank - Wathena?

Accepted Answer

The Farmers State Bank - Wathena is a state-chartered commercial bank that is not a member of the Federal Reserve System. It is supervised by the FDIC and holds FDIC Certificate #16941, ensuring deposits are backed by the full faith and credit of the U.S. Government.

As a commercial bank with state charter and Fed non-member status, the institution operates under Kansas state banking regulations while maintaining FDIC insurance protection for depositors. The bank functions as a community bank, emphasizing relationship-based banking and personalized service to individuals, families, and businesses in its local market. Its structure as a subsidiary of Wathena Bancshares, Inc. allows it to maintain local decision-making authority while benefiting from a holding company structure.

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