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April 12 -Teach Children to Save Day

                       Farmers State Bank worked with Bryant & Seton Elementary Schools to celebrate Teach Children to Save Day with a savings education lesson at the FSB Algona location. 126 students toured the bank, checked out the coin machine and vault, were read a savings story and participated in an activity. 

Established by the American Bankers Association Foundation in 1997, Teach Children to Save and the Foundation’s other financial education initiatives have helped reached 10.5 million young people through the commitment of more than 260,000 banker volunteers.

ABA offers the following tips for money-savvy parents raising money-smart kids:

  • Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents' personal finance habits. Share this Roadmap to Financial Responsibility with your kids.
  • Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones. See this list of eight ways to talk openly with your kids about saving money.
  • Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
  • Open a savings account for your children and take them with you to make deposits so they can learn how to be hands-on in their money management.
  • Let friends and family know about your child’s savings goal.  They will be more likely to give cash for special occasions, which means more trips to the bank.
  • Put the literacy in financial literacy. Encourage your children to read books that cover various money concepts. Not only will they become strong readers, but they will be smart money managers, too. Click here for a list of titles for all ages. 
  • Engage your community.  Many schools, banks and community organizations share your commitment to creating a money-savvy generation.  Engage a coalition of support to provide youth with the education they need to succeed.

The ABA Foundation provides financial education initiatives and resources that help bankers make their communities better.  




Community Banking Month 

Why Community Bank Pride?

• Community banks are the SAFEST, SOUNDEST, and MOST SECURE financial institutions in the state.

• Your bank is part of a statewide network of over 300 community banks representing more than 1,000 communities across Iowa and employing over 5,000 Iowans.

• Iowa’s community banks have in excess of $3.2 billion dollars in loans to consumers, small businesses, and the agricultural community.

• Community banks pay millions of dollars in taxes to Iowa and their local communities.

What Makes A Community Bank?

• Locally owned and operated.

• Local reinvestment of deposits in residential mortgages, small business loans, and agricultural and student loans.

• Community-oriented management philosophy.

Why Are Community Banks Unique?

• Local residents control the bank as shareholders and/or account holders.

• Community banks are the primary funding source for most local construction projects and residential mortgages.

• Community banks channel most of their loans to the neighborhoods where their depositors live and work, helping to keep local communities vibrant and growing.

• Because community banks are themselves small businesses, they understand the needs of small business owners. Their core concern is lending to small businesses and farms.

• Community bank officers are typically deeply involved in local community affairs.



Main Street Matters - ICBA Blog

Wall Street Numbers Still Not Adding Up

Apr 09, 2019 

rebeca_romero_rainey-2018_150pxBy Rebeca Romero Rainey

“There are three kinds of lies: lies, damned lies, and statistics.”

This phrase, popularized by Mark Twain in 1906, describes the persuasive power of statistics to bolster weak arguments. Well, even though 113 years have passed since Mr. Twain published these views, the megabanks and their trade associations are taking a page out of the history books.

Ahead of Wednesday’s House Financial Services Committee, the megabanks are working to bolster their reputations by picking and choosing which data best fits their narrative—leading to skewed articles focused on low- and moderate-income communities and consumer sentiment.

The most recent “research” takes a huge leap by implying that the presence of very large banks in local communities causes positive consumer sentiment—the larger the bank, the more positive the sentiment. An alternate and perhaps more plausible argument might be that the largest banks in the nation are locating in communities where consumer household sentiment is already high because consumers are wealthier. In fact, is it possible that large banks are abandoning smaller and less wealthy communities to seek greener pastures?

The article goes on to make other questionable assumptions and dubious conclusions. While policymakers and consumers will likely see the research for what it is, we wanted to take a moment to set the record straight. When looking at the numbers in their entirety, the data continue to show that community banks are an excellent choice for consumers in urban, suburban and rural communities. Here are the facts:

  • the average community bank has maintained or increased its deposit market share in both rural and urban communities since 2008,
  • community banks outpace large banks in their average number of banks operating in both rural and urban markets by a 3-1 ratio,
  • community banks make roughly 60 percent of small-business loans under $1 million and 80 percent of the banking sector’s agricultural loans,
  • community banks remain the only physical banking presence for one in five U.S. counties,
  • community banks focus a relatively large share of their resources in low- and moderate-income tracts, and their lending in these areas is more consistent with local demographics than megabank loans,
  • community banks added more than 700 bank offices between June 2017 and June 2018, whereas noncommunity banks shrunk by 384 offices over the same period,
  • community bank loan growth has exceeded growth at noncommunity banks for six consecutive years,
  • the largest financial institutions themselves recently reported that community banks are more than tripling the deposit growth of their larger competitors in rural communities,
  • low- and moderate-income census tracts make up a significant percentage of megabank branch closures, topping 80 percent for JPMorgan Chase in recent years, and
  • community banks have consistently demonstrated their safety and soundness with higher capital ratios and better loan quality than the largest institutions.

As policymakers again investigate how the megabanks caused the last financial crisis, they should be aware of new reports on the megabanks’ massive pool of leveraged loans to highly indebted companies. Let’s hope these massive institutions don’t repeat their mistakes of the last crisis. The American people and the American economy deserve better.

So while community banks continue focusing on meeting the needs of local communities and spreading economic opportunity to every corner of our country, we hope that anyone seeing the latest megabank research takes it with a grain of salt. There is certainly much more to the financial services picture, especially when it comes to community banks and their vital and unmatched role in serving the needs of their customers and communities nationwide.

Rebeca Romero Rainey is president and CEO of the Independent Community Bankers of America.


Mobile Banking

It's cold outside. Stay warm and use our mobile banking.

Try our convenient mobile app, FSBIOWA, to fulfill your banking needs.  The app can be found at the Apple App Store or at Google Play.  You will be able to:

  • Check your balances

  • Make transfers

  • Deposit checks

  • Pay your bills

  • Pay a person

  • Make a loan payment

Try it today! It is just another way Farmers State Bank is there for you.


Mobile Deposit Update

When you use mobile deposit on the Farmers State Bank app, please write the following phrase on the back of you check, along with your signature:

For Mobile Deposit at Farmers State Bank


Stay Safe Online

Go to this website to learn more.

Privacy is good for business.

Tips for parents and grandparents.


Identity Theft

Is someone using your personal information to open accounts, file taxes, or make purchases? Visit, the federal government’s one-stop resource to help you report and recover from identity theft.

Did you get a notice that says a company lost your personal information in a data breach? Did you lose your wallet? Or learn that an online account was hacked? Here are steps you can taketo help protect yourself from identity theft.

What can you do to keep your personal info secure? Are identity protection services worth the cost? What about credit freezes? Check out the FTC’s identity theft articles to find out.


America Saves Week Resources:

Saves with a Plan

America Saves Week


Saver Checklist


Debit Card Fraud Protection

SHAZAM Fraud Text Alerts

Dear valued cardholder,

Keeping your account safe and secure is our highest priority. We partner with SHAZAM, our debit card processor, to implement a fraud management solution powered by FICO® Falcon® to help protect your debit card against fraudulent activity.

We provide Text Fraud Alerts as part of our debit card protection program. You’ll receive text alerts when suspicious activity is detected on your Farmers State Bank debit card. If you receive a “fraud alert,” reply Yes or No to confirm or deny the activity. If you reply No (the activity is fraudulent), you’ll quickly receive a follow up text to let you know that a SHAZAM fraud specialist will call you soon to help protect your account. We’ll also automatically block your debit card to prevent any additional fraudulent activity.

If you reply Yes (the activity was legitimate), you can continue to use your debit card as normal. If you don’t reply to the text, or your phone number is not a mobile number, we’ll attempt to reach you via automated voice call.

Text message alerts from: 72718

Automated phone calls from: 855-219-5399

Make sure to save these numbers to your contacts so you don’t miss any alerts. This added protection to your debit card is automatic and text message alerts are free. To ensure we can reach you promptly if fraudulent activity is suspected, we’ll need to have your current contact information on file including phone number(s) and address. Please contact us if you have any changes in this information. We’ll keep your information completely confidential.

If you have any questions, or ever see a suspicious transaction on your debit card, please call (515) 887-2221. Always use caution when providing your debit card information and contact us immediately if you suspect your debit card has been stolen or compromised.

Thank you!


Check out America's Banks website

American Banking Association

ABA’s  America's Bank website demonstrates the tremendous impact banks have across the country on their customers, communities and the overall economy.