Commitment, growth, innovation, stability ... these words have been used for years in descriptions of F&M Bank.
It all began in the late 1860's with our founder, Chauncey Colton. He established the first store, post office and school in the town of Galesburg, and played an integral part in bringing the railroad through town. Mr. Colton had been an officer and director of another financial institution in Galesburg, but he felt he could do better on his own. Desiring the freedom to originate and execute new ideas and serve the town, Mr. Colton gathered a list of stockholders and was granted the new bank's charter on March 31, 1869.
When Mr. Colton and his associates set about selecting an appropriate name for the bank, they turned away from the impersonal titles so common among financial institutions. They wanted a name that related directly to the real builders of the town, the hard-working shoemaker, blacksmith, carriage builder, wheelwright printer, draper--all known as "mechanics" - and the farmer who labored the surrounding prairie.
The site of the original F&M Bank was on the corner of Main and Cherry Street in an elegant corner room of the Union Hotel. Later, in 1903, the bank purchased a lot on the northwest corner of Main and Cherry-- 21 East Main Street -- where F&M Bank resides still today.
Over 140 years later, we at F&M Bank are beneficiaries of Chauncey Colton's legacy. We continue the mission to serve all people in the community in which we live, regardless of economic status. Our bank remains committed to Galesburg and the surrounding area. Not only do we contribute with loans and donations, our employees give more than five thousand hours of their time every year. Our staff is involved in everything from schools and churches to service clubs and economic development. Professionally, we believe in and practice the banking principles that have made us a strong, trustworthy financial institution.
Chauncey's spirit of innovation is also alive and well at F&M, where we continue to originate services designed to make your life easier-- from our Online Banking to our 3 full-service banking locations.
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