The Farm & Home Savings and Loan Association

The Farm & Home Savings and Loan Association opened in 1893. The Association was organized by sixteen men from the region. They made their first loan to Mr. A.L.Preston less than a month later. Farm & Home Savings was critical in the rebuilding of homes after the St. Louis Tornado in 1896. The Nevada Branch of The Farm & Home Savings and Loan Association opened in 1920. Under Judge Oliver H. Hoss, Farm &Home was able to survive the 1929 Stock Market Crash and the subsequent Great Depression. The Farm & Home Savings and Loan Association was active until it merged with Roosevelt Financial Group Inc. in April of 1993. The Farm & Home Savings and Loan Association officially closed down on June 30, 1993.

The Farm & Home Savings and Loan Association received its charter on October 30, 1893. Sixteen men from the surrounding towns (Nevada, Sedalia, Clinton, and St.Louis) rallied together to organize the business. Less than one month later Mr. A.L. Preston made their first loan of $400. In the following years, assets owned by the Farm & Home Savings and Loan Association totaled $180,000. After the St. Louis Tornado in 1896 caused millions of dollars of property damage, the Farm & Home Savings and Loan Association was there to rebuild. 

The 20th century introduced World War One and the market crash of 1929. The Nevada branch (221 West Cherry Street built-in 1901.) opened in 1920. The Missouri centennial of 1921 and the Farm & Home Savings and Loan Association celebrated their 120th office opening. The Farm & Home Savings and Loan Association at the time had a total of assets of over $10 million. Under the leadership of Judge Oliver H. Hoss, the Farm & Home Savings and Loan Association was able to stay afloat during the Great Depression. During the Depression, the Farm & Home Savings and Loan Association closed off doing business with all states except Missouri and Texas.  

In 1934 the Federal Savings and Loan Insurance Corporation (FSLIC) was founded. During the anxious times under the New Deal and World War, Two people turned toward what they knew and they knew Farm & Home Savings and Loan Association. By 1937, the assets held by Farm & Home Savings and Loan Association totaled over $16 million. President Harry S. Truman was a Farm & Home agent(not at the Nevada branch) and Farm & Home Savings and Loan Association President C.A. Duncan, Jr. modeled his management style after Truman.

C.A. Duncan, Jr. was aiming to lead the Farm & Home Savings and Loan Association into the future. On December 31, 1972, the Farm & Home Savings and Loan Association’s total assets rose to over $1 billion. The 1980s was a difficult period for the loan business. However, by maintaining business as usual the Farm & Home Savings and Loan Association was able to prosper. Under the Farm & Home Savings and Loan Association, President and CEO John Morton III Farm & Home was able to branch out into many new kinds of money lending including “Home Equity, Auto Loans, and a Packaged Checking Account”  

Unfortunately in April of 1994 just six months after the centennial of the Farm & Home Savings and Loan Association began merging with the Roosevelt Financial Group Inc. Many employees were unsure of their job security. Roosevelt Financial was only keeping 100 employees to cover the loan department but most employees worked until the merger was official on June 30, 1994. The merge resulted in the sale of the annex building (125 S. Washington St.) 

After the merger, the bank on 221 West Cherry Street changed its name to Roosevelt Bank. For the last twelve years, the location has been owned by US Bank.  

Farm & Home Savings and Loan Association. A Century of Strength and Service. Nevada, Missouri. 1993.

Satterly, Rick. "Final axe to fall tomorrow at Farm & Home." Nevada Daily Mail (Nevada) April 27th, 1993.

Satterly, Rick. "Farm & Home merger difficult for some." Nevada Daily Mail (Nevada) May 10th, 1994.