The Farmers & Merchants Bank, founded in 1895, is proud to be the oldest remaining independently owned community bank that was formed and chartered in Gibson County. In 1894, a group of farsighted men with the welfare of the community at heart saw the need for a bank in Dyer, Tennessee. The men were businessmen, builders of schools and churches, but most of all, they were good neighbors interested in making the community a better place to live. As a result, The Farmers & Merchants Bank came into existence and was located in the J.L. Berry building in Dyer.
The first customer, who was also one of the first directors and stockholders, deposited $221 and cashed the first check for $4.59. The Bank showed a net profit of $500 in its first year of operation, and paid its first dividend to stockholders on July 16, 1896. Since that time, the Bank has never failed to pay an annual dividend even through the worst depression the country has ever experienced. With the purchase of 100% of the Bank's stock in 1983, the holding company Dyer F&M Bancshares, Inc. was formed to help ensure local ownership of the Bank.
The Farmers & Merchants Bank has grown and prospered over the years. The Food Rite branch in Dyer opened in 1993, and a branch office in Trenton was opened in 2001. In 2004, the acquisition of the Bank of Dyer provided The Farmers & Merchants Bank with a branch in Humboldt, Tennessee. With four locations, The Farmers & Merchants Bank now covers a large part of Gibson County.
The new main office at 110 S. Main Street, Dyer, opened for business in January 2013. Across the street from the previous location, the new building is a mixture of old and new with its incorporation of historical elements reminiscent of the old building. The new building was a dream of the late CEO and Chairman of the Board, Mr. Billy Matt Stover, who served the people of Dyer for over forty years. Mr. Joel Reynolds, President, was instrumental in the fulfillment of that dream, as well as in the dedication of the new building in memory of Mr. Stover.
The Board of Directors and employees of The Farmers & Merchants Bank are all local people, continuing to serve their neighbors as the founders did over 120 years ago. They are committed to providing their customers the same good, honest, dependable service for which the Bank was founded. The slogan of the Bank holds true: "We have our roots where others have their branches."
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