Farmers & Traders Savings Bank, Kossuth County’s oldest bank, began in 1887. Originally, the bank was known as Farmers & Traders Bank and was located in a wooden building where Hager Foods now stands. The bank is state charted and is regulated by the Iowa Division of Banking and the Federal Deposit Insurance Corporation.
M.M. Richmond served as the bank’s first President, followed by C.J. Lenander. James Edward Kennedy bought controlling interest in 1911. J.E. was the first of four generations in the Kennedy family to serve as President, followed by Ambrose W. Kennedy, William A. Kennedy, and currently, Charles A. Kennedy.
Through the years, Farmers & Traders Savings Bank has strived to be an active part in community development. Employees are involved in local and area events and organizations. The town of Bancroft offers many amenities which are the envy of most small towns, including: the municipal electric plant, golf course, grocery store, historic baseball park, historic churches, swimming pool, nursing home/assisted living, medical clinic, thriving business district, etc.
The Bancroft area is very dependent upon agriculture and is fortunate to have two farm implement dealers in town. In addition to numerous ag-related businesses, the bank has worked with generations of farm families experiencing constant changes in the industry.