In 1904 a group of De Leon businessmen sought a new charter for a second bank for the community. On January 1, 1905, the State Banking Commission granted that charter to the Farmers and Merchants National Bank In 1964 F & M obtained a state charter which gave it greater flexibility in its operations.
Due to the economics and demographics of the community of DeLeon, the Board recognized the Bank could not grow an appreciable amount while confined to the local market and Eastland was determined to be able to offer a new market. On August 16, 1999, the Bank opened its first branch banking facility in the adjacent Eastland County.
On June 16, 2010, a second branch bank facility was opened in nearby Brown County. Located in the city of Early joining the Brownwood city limits, this location allows the Bank to operate in a much larger community than both of its existing markets.
In February 2013, a third location was opened in nearby Stephenville. At the time two other banks were undergoing major changes in their ownership structure, creating uncertainty in the eyes of the banking public. In May 2014, a 6,000 square foot facility opened serving Stephenville and surrounding communities. The larger market in Stephenville brings in more commercial business customers to the bank and this community continues to grow each year creating a highly competitive marketplace.
In 2024 F&M is bringing community banking back to Comanche and surrounding communities, by opening a 3400 square foot facility. The bank will open its doors in late Fall, being the only Comanche County owned bank serving the growing community.
