The Farmers State Bank of Beecher, which was organized in November, 1916, by E. C. Curtis, H. E. Ehlers, and
H. B. Ruge, was the successor of the First National Bank of Beecher, which was established in 1906, and which was
liquidated upon the organization of the former institution. The First National Bank was the outgrowth of the Bank
of Beecher, which was established in the nineties and operated by Arthur Struve until 1906. The Farmers State Bank
occupies the banking house which was erected by the institution in 1906.
The Farmers State Bank of Beecher was organized with a capital stock of $25,000, and opened for business on the
18th day of November, 1916, under the direction of the following officers: Frederick Wehmhoefer, H. W. Bockelman,
Fred Erieson, Fred Houseman. president; and H. B. Ruge, cashier. Mr. Ruge died June 11, 1923, and was succeeded
as cashier by Mr. Ehlers. At the same time W. F. Ruge was elected assistant cashier and director. The original
board of directors was composed of Frederick Wehrmann, H. B. Ruge, V. S. Curtis, Frank Hunte, R. G. Salzmann, Carl
Ehrhardt, Henry Wehmroefer, H. W. Bockelman, Fred Erieson, Fred Hauseman, D. D. VanVoorhis, H. E. Ehlers, and Thomas
Clark. The members of the present board of directors are as follows: H. E. Ehlers, Henry Wehmhoefer, president;
D. D. Van Voorhis, vice president; W. F. Ruge, Geo. A. Batterman and Emil Klein.
This institution has accumulated a surplus of $16,000.00, and has reserve funds amounting to $17,500.00, and undivided
profits of $10,000.00. Since its organization it has paid regular dividends of 10 per cent with an occasional 2
per cent additional. Total dividends have amounted to $27,500.00. Deposits, which amounted to $19,276.36 on the
bank's first day of business, have increased to $450,000.00.