The Walcott Savings Bank was organized in 1894 with a capital stock of $30,000. On April 1, 1904, the Farmers Savings Bank began business with at capital stock of $25,000. In 1911, Walcott was declared the richest town in the US in consideration of the bank deposits for its population of 300, according to Dunn & Co. in the Bankers' Journal of New York. During the depression year of 1931, the two banks were consolidated and Walcott Trust and Savings Bank was formed.
The Walcott Savings Bank was organized in 1894 with a capital stock of $30,000. On April 1, 1904, the Farmers Savings Bank began business with at capital stock of $25,000. In 1911, Walcott was declared the richest town in the US in consideration of the bank deposits for its population of 300 according to Dunn & Co. in the Bankers' Journal of New York. During the depression year of 1931, the two banks were consolidated and Walcott Trust and Savings Bank was formed.