Organization of a Bank in Plankinton first began at a meeting held March 29, 1910, by a group of interested citizens.  Temporary officers elected were:  F. E. Rick, Chairman; A. A. Boynton, Vice President; and L. A. Mabbott, Cashier.  Members of the first board were elected February 14, 1911:  Arthur Harris, Chairman of the Board; Carl Miller, Frank Rake, John Mullivan, Herman Miller, Howard Rake, and W. A. Nolan, Directors.

The Bank became known as the Farmers & Merchants State Bank.  Originally the Bank operated out of the banking rooms at the Opera House.  A new bank building was constructed in 1920.  Since that time, the Bank has been expanded twice with extensive remodeling.

F. W. Gerhard and H. T. Gerhard became involved in the Bank in 1914.   In 1919 F. W. Gerhard became President, serving until 1925.  At such time, his son, H. T. Gerhard, became President, serving until his untimely death in 1960.

Hershell Page was appointed President in 1961, with his wife Ruth Ann Page (daughter of H. T. Gerhard) appointed Vice President.  

Hershell Page served as President until August 1992, at which time he resigned and his son, Tom Page, was appointed President.

Tom Page served as President from August 1992 through December 1996.  In January 1997, the Board of Directors appointed Ron Kristensen to serve as President.