Farmers Savings Bank sparks iconic building

FORT MADISON – When opportunities knock, you open the door. Or in the case of Farmers Savings Bank, you buy a building.
The Wever-based bank is currently contracting with Schickedanz Construction to reinvigorate a building in the 1200 block of Avenue H that has a colorful history. The building is the former location of the City Hope Food Cupboard, an offshoot of the Harmony Bible Church system in Southeast Iowa.
The building’s been home to more than 10 businesses over a century of existence, including Frederick’s Grocery, Wolter’s Grocery, four or five taverns, depending on your definition, including Phil’s Place, a supper club, Courtney Chiropractic office, a seed-and-feed.
But Farmers’ CEO and President Clayton Davis said the building was a quick opportunity that fit what the bank was looking for.
“This specific building, one of our directors pointed it out to us and we liked the location. We were looking at different properties, but it’s one of those that once we saw it, we liked what it had to offer,” he said.
A drive through is being added to the north side of the property to allow for alley access or access from Avenue H. Inside has almost been completely remodeled with most walls having come down to reset the inside space.
A four foot-stack of drywall sat just outside the new east side entry and new walls will start going up this week.
Davis said the bank had looked at other properties in Fort Madison, and had considered new construction, as well. He said they just liked what they saw in the historical space close to downtown.
“It had more space to offer than most other places in town,” he said.
“It’s kind of one of those where we could kind of see it, and then as we started to draw it out it, we really got excited about it.”
Carol Delaney, a loan officer with FSB from Fort Madison, said there’s momentum in the area and creating an office in Fort Madison is part of that energy.

“I’ve been here my whole life and it’s one of these things where you see the wheels turning. Not only Fort Madison, but you see how Lee County and Des Moines County are partnering. All the wheels are connecting and coming together, and you feel this momentum of growth,” she said.
“It’s exciting for us to come to Fort Madison and be a part of it. And use a historical building that already exists.” 
Davis, who was named CEO about two years ago, said the timing of the decision feels right for the bank and the community.
“It feels right. It seems like a good time to do it. We have a lot of customers, employees, and shareholders here – so we have roots here. It’s a good way for us to continue to serve our current customer base. If we do a good enough job with our customers, hopefully that expands into new relationships.”
He said conversations with bank directors around opening a Fort Madison location have been going on for years. But the company became more deliberate in the past 12 months.
“We started coming down here more in the last year. Then this popped up and we got down here to look at it real quick.”
Davis said Farmers’ prides themselves on being a local bank with local investors continuing that tradition. Farmers Savings Bank has been operating in Southeast Iowa for the past 118 years and was founded in 1908. He said that local brand requires an investment commitment.
“One of the obligations we have as a local bank is to try to best serve our customer base and this is a way for us to do that.  But just because we say we’re ‘local’ and put up a building doesn’t mean it works – we have to work to earn it all,” Davis said.  “And when you’re banking with customers you grew up with, pastors, neighbors, teachers, it’s a different level of commitment.”
Davis said the timeline is hopefully to be open by the end of the year.  “Mark, Zack, and the construction teams are doing an awesome job.”  Drywall should be up by the end of next week. Some of the bank tubing and systems may take a little more time to get done, but his plan for the end of the year is on pace.
“We’re just doing what’s best for us and our customers. It’s a good opportunity, we have the right team, and we’re eager to better serve our customers and our community.”
Farmers has locations in Burlington, Denmark, and is based in Wever.