Farmers & Merchants Savings Bank

FreedomBank of Elkader signs a Merger Agreement with Farmers & Merchants Savings Bank of Waukon


ELKADER, IA  -   On November 20,  2018, FreedomBank of Elkader announced that it will purchase and merge with Farmers & Merchants Savings Bank of Waukon.  FreedomBank has offices in Elkader, Monona, and Postville.  Farmers & Merchants Savings Bank has offices in Waukon and Decorah.


FreedomBank is  a 100% ESOP owned community bank.  Uniting with Farmers & Merchants Savings Bank enlarges their existing community bank footprint which is dedicated to northeast Iowa.  Decisions will continue to be made locally by people you know and who have ownership in the bank. 


The transition is pending regulatory approval and is expected to be finalized during the 1st quarter of 2019. 




Above are the bright and colorful winners of our holiday coloring contest. The entries were numerous, and our judges were impressed.  Choosing the winners was no easy task.   We share these with you and all the entries in our bank lobby through the Christmas holiday.  We are thankful that they fill our lobby with color and Christmas spirit. After the Christmas holiday feel free to stop in and pick up your entry if you would like to have it back.   They will be available for pick up through Friday, January 11th.  


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Loan Products

Agricultural Lending

In the heart of the Midwest, we understand the importance of agriculture. Let our team of experienced ag lenders go to work for you. As farm producers ourselves, our roots run deep in our community and we understand the needs of farmers. We have access to a number of financing options and can offer long and short term rates. Give us a call today or stop in. We would welcome the opportunity to learn more about your operation.