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- Farmers State Bank
The Farmers State Bank, of Armstrong, is numbered among the dependable and well known banking institutions of Vermilion County. It was organized as a private bank in 1895 by Jp. Fraut, and was originally known as the Bank of Armstrong.
John W. Goodwine became the owner of the Bank of Armstrong after several years and the name was changed to the Goodwine Bank of Armstrong. In 1902 Arthur S. Bass, in partnership with his brother, Fred Bass, became owners of the bank and it then became known as Bass Brothers Bank. In 1904 it was incorporated under the laws of the State of Illinois as the Farmers State Bank with a capital stock of $25,000. The first new officers were: Fred Bass, president; A.D. Bass, vice president; and John Anderson cashier. The directors were: Fred Bass, A.S. Bass, John Anderson, Guy C. Howard, A.C. Maury, D.M. Lane, and Staunton Foster.
In 1907 A.S. Bass purchased the interests of his brother in the bank and at that time was elected president, in which capacity he now serves. Dale Goodwine became cashier at that time.
The present officers (1929) of the Farmers State Bank, of Armstrong, are: Arthur S. Bass, president; Staunton Foster, vice president; and Dale Goodwine, cashier. The directors are: A.S Bass, S. Foster, A. Gilbert, D.M. Lane, and Earl Bass.
The Farmers State Bank has a capital stock of $25,000 and a surplus of $25,000.
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Bassett Family Association Database
1892 - 1956 (63 years)