06/07/2026
Our Banks
In 1883 the rumors of a railroad coming through were verified with the appearance of surveyors in the area. The community wasted no time by providing the railroad with the grounds to build a depot and giving them $2,000.00. This secured Lamonts future and the town soon began to grow at a fast pace. The first and only bank in town was a private bank known as the Bank of Lamont owned and operated by Oscar Tuttle. It could not meet the demands of the growing town, it was clear an incorporated bank was needed.
The first incorporated bank was The Lamont Savings Bank. It was formed on April 4th, 1892, with a capital stock of $10,000.00. The first officers serving was; A.R. Loomis, president; M.F. LeRoy, cashier; and directors A.R. Loomis, E.S. Cowles, M.F. LeRoy, E.H. Hoyt, and E.M. Carr. The Lamont Savings Bank was very successful and grew building a new building in 1905 (shown below). With the effects of the great depression across the country, The Lamont Savings Bank was forced to close in January 1931. In 1937 The Farmers State Savings Bank of Independence purchased the bank and opened it as branch in 1937 placing E.C. Hesner in charge of it. In 1974 the bank purchased the old Clover Farm Grocery building to the south of it, tore it down and built an addition on to the original bank building doubling its size and completely remodeling it into the building we see today. A decision was made aimed to eliminate any confusion with other “Farmers Banks” in Iowa to change the name to Bankiowa as it is known today.
The second incorporated bank, The Farmers Savings Bank (shown below). Due to the growth of Lamont, the demand grew for a second incorporated bank. On January 7th, 1910, Homer Pitner cashier of the Commercial National Bank of Cedar Rapids and A.L. Seeber cashier of the Dundee Savings Bank hosted a meeting packed with local citizens, businessmen and farmers at the National Hotel. The decision was reached to open a new bank named the Farmers Savings Bank with a capital stock of $15,000.00. The bank consisted of over 40 stockholders of local businessmen and farmers. The articles of incorporation were drawn up, and a board of directors and officers were voted on. D.J. Kenna was voted president, W.C. Falck vice president, and Paul H Huston cashier. The board of directors were Fred Retz, D.J. Kenna, J.H. Brown, A.K. Anderson, Thomas Vanek all from Lamont, A.L. Seeber from Dundee, and W.C. Falck from Arlington. The front room in the National Hotel was secured to serve as temporary quarters for the bank until the new building was completed. On December 20th, 1910, the building was completed except for the tile floor in the lobby and vestibule. The bank left their temporary quarters in the National Hotel and moved into their new building. Dr. R. A. Greenawalt opened his dentist office on the second floor. In 1921 the bank was sold and renamed The Farmers State Bank. The bank hung on longer than its competitor, however it too ultimately faced the same fate and was forced to close in December of 1931. Lindsay Barr purchased the building from the State of Iowa in January of 1935. He used his political influence to secure a contract with The United States Postal Service. The first floor became home to the Lamont Post Office in June of 1935 and served in this role until 1998. In the summer of 1939, the second floor was remodeled for an office and living area for Lamont’s new doctor, Dr. L.A. Ford and family. In 1950 Dr. Ford moved his practice into a new building across the street. Dr. Ford and his family continued to live in the building for a few years. The building was restored and the Lamont Museum opened in May of 2003.
Please stop into our 4 historic museum buildings this summer and learn more about Lamont’s history!
