About The Farmers & Merchants Bank
Farmers & Merchants Bank, chartered in 1895, is the oldest,
independently owned community bank in Gibson County. We are
dedicated to providing our customers the same good, honest,
dependable service for which the Bank was founded.
In 1894, a
group of farsighted men with the welfare of the community at heart,
saw the need for a banking institution. These men were
businessmen, builders of schools and churches, but most of all, they
were good neighbors interested in making the community a good place
to live. As a result, The Farmers & Merchants Bank came into
existence. Chartered by the State of Tennessee on Tuesday,
April 9, 1895, it had a paid-in capital of $15,000. Today this capital stands at approximately 9% of total assets.
When the bank
opened its doors for business, John William Davidson, one of the
first directors and stockholders, deposited $221 and became the
first customer. The first check was cashed for $4.59 on April
18, also by Davidson. The Bank was first located in the J.L.
Berry building in Dyer.
In its first
year of operation, the bank showed a net profit of $500. On
July 16, 1896, The Farmers & Merchants Bank paid its first dividend
to stockholders. Since that time, the Bank has never failed to
pay an annual dividend, even through the worst depression this
country has ever experienced.
The Farmers &
Merchants Bank has grown and prospered, outgrowing its space at 105
S. Main St. in Dyer, several times. In 1993, a branch office
was opened at 705 S. Main St. in Dyer. On February 1, 2001,
the branch at 667 N. College St. in Trenton opened its doors for
business, and in December 2004, The Farmers & Merchants Bank
completed its acquisition of the Bank of Dyer, giving the Bank a
presence in the Humboldt, Tennessee market. With five
locations, The Farmers & Merchants Bank now covers a large part of
Gibson County, with total assets of approximately $90MM.
The Farmers &
Merchants Bank is proud to be one of only five banks in Gibson
County which is an independent community bank. In 1983, Dyer
F&M Bancshares, Inc. was formed with the purchase of 100% of the
Bank's stock. The formation of this holding company helps to
ensure local ownership of the Bank. The current president,
Joel Reynolds, was born and raised in Dyer. Our late Chairman
of the Board, Bill Stover, served the people of Dyer for over 40
years. The Board of Directors and the employees of The Farmers
& Merchants Bank are all local people, continuing to serve their
neighbors as the founders did 100 years ago.