About The Citizens-Farmers Bank
The Citizens-Farmers Bank of Cole Camp was chartered in 1929 through a consolidation of the two local banking institutions, The Citizens Bank and The Farmers Bank. Each bank was located in the Cole Camp business district. The new bank kept the original location of The Citizens Bank and occupies the original building today. The building corner stone holds a construction date of 1898.
Since its 1929 charter date, The Citizens-Farmers Bank has been locally owned and managed. A seven member Board of Directors is elected annually by the stockholders. This Board is responsible for approval of policies and general banking operations. Current board members are: Susan Kyle, Chairman of the Board; Larry J Stelling, Member; Carol Oelrichs, Member; Ronald Lumpe, Member; Wayne W. Reinert, Member; Lance Stelling, Member; and Brent Otten, Member.
The capital structure of the Bank has grown from the charter minimums to $9,000,000 in assets in 1976 to $80,000,000 in assets in 2007. The bank has grown over the years by providing financial services to Cole Camp and the surrounding areas. The bank has loaned and serviced $60,000,000 in loans to area residents, which are funded almost entirely by local deposits.