F&M Community Bank of Preston celebrated 100 years of community banking on March 27, marking the occasion with a champagne reception for customers and friends.
Farmers & Merchants State Bank of Preston, as it was then known, opened for business on March 27, 1911, when it took over the assets of the National Bank of Preston.
"We feel that being in business for 100 years is a significant milestone for any business," CEO Dan Christianson said. "But when considering that there are fewer than 7,700 FDIC insured banks in the country and the financial crises the country has endured in the past 100 years, it is an accomplishment of which our staff, customers, and communities we serve can be proud."
Also this year, the bank will mark its 100th year with a customer appreciation meal in June in Preston; an ice cream social in Chatfield in conjunction with a Chatfield Brass Band concert; and an old-fashioned kids event in Preston in September.
F&M Community Bank is also distributing a calendar with photos and facts detailing its history.
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Also in honor of their 100th Anniversary, the bank designed and had minted a commemorative silver coin — each one is 1 troy ounce of .999 pure silver. F&M is giving away 10 of these coins each month for 10 months. A limited number of coins are available for purchase.
F&M Community Bank’s home office is in Preston, and it has a branch office in Chatfield. It is a wholly owned subsidiary of F&M Financial Services Inc., which also owns and operates F&M Insurance Services in Preston.
