1915-03-05 - ...The bank will be called the Farmers State Bank and will open with a paid up capital of $15,000 with over 25 stockholders. The old A. B. Olson property on Main Streed has been decided on as a location and a fine new building will be erected. B. F. Muldown, C. A. Roberts, R. C. Rustad, Chas. Volstad, Ed D. Nelson, K. L. Leidall and Herman Lerud have been elected Board of Directors...
1915-04-02 - ...A temporary location is being sought for the new bank until the new building can be erected on the old A. B. Olson site, between the Gem restaurant and Hanson's store...
1920
1926-05-21 - business directory. The Farmers State Bank. H. E. Lerud, cashier. Lyle, Minn.
1947 - The Farmers State Bank Lyle, Minn.
1966-12-30 - Austin Daily Herald - "Baldy Hansen buys state Bank at Lyle" Lyle Minn. A Purchase of the Farmers State Bank Lyle was announced today by C. R. Baldy Hansen Austin. The Bank was purchased from A. P. Garnatz and Mrs.. C. J. Gislason for an undisclosed sum. Hansen who was elected state senator from Mower county in November also owns the Rose Creek State Bank. He purchased the Rose Creek Bank early in 1962 from a group of Rose Creek businessmen. In announcing the purchase of the Farmers State Bank Hansen said there would he no change in management or policy. Mrs. Gislason will remain as managing officer. Both ??? and Mrs. Gislason will continue as directors of the Farmers state Bank. Gislason has not announced his future plans. A. P. Garnatz purchased the Lyle Bank in 1939 from H. E. Lerud. He had been in the banking business in the Mankato area earlier and has since been presented with his 50-year banker pin. Mrs. Gislason was named vice president in 1943 and Gislason was named president in 1945. ??? during their years with the Lyle Bank the total ??? climbed about $2 Ltd dollars. The Bank serves areas around Lyle including a portion of neighboring Mitchell county in Iowa. The Farmers state Bank was granted its charter April 15, 1915. Gislason and Garnatz will maintain their homes in Lyle. Garnatz spends about six months each year in Florida. Both families will continue their farming interests in the Lyle area. Gislason has been a county fair board member three years treasurer of the school board nine years past president of the Lions club local commander of the American Legion and treasurer of the Southeast District of the American Legion. Hansen former mayor Hansen moved to Austin and purchased a Maytag appliance store which had a small bottle gas trade going. He concentrated on developing the retail propane Gas business. In 1953 he sold the retail appliance part of the business and operated the bottle gas plant for eight more years until 1961 when he sold to Phillips Petroleum co. A native of St. Paul he was mayor of Austin from 1954 to 1962.
1967-03-02 - Banking Notes by Baldy and Roger... - Farmers State Bank Member F.D.I.C. Lyle, Minnesota.