In 1888, C.S McLaurie and W.M. Smith of Sheldon, started a private bank in the town of George.

In 1889 the private bank was converted into the Farmers' Savings Bank, of George, Iowa, and was incorporated under the state laws, in May, 1889, with a capital of $15,000.  The present stockholders are C.O. Collman, H. C. Collman, W.C. Colman, W.M. Barrager, W.M. Smith and F.J. Martin.

Officers:  C.O. Collman, president, W.M. Barrager, vice president, O.C. Collman, cashier, and W.C. Collman, assistant cashier; the president, C.O. Collman resides at Freeport, Illinois, and is president of the German Insurance Company and German Bank at that place; the vice president, W.M. Barrager, resides at Sheldon, Iowa, and is a wealthy retired lumber merchant; F.J. Martin is a capitalist residing at Ackley, Iowa.

The deposits of this institution in February, 1891, when the present stockholders took possession, were $14,000 with loans the same, the deposits now are $100,000 with loans of like amount.  In directing the affairs of this bank, the officers insist upon the strict compliance with every rule of liberal progressive and legitimate banking.


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