In section 15, Mariposa Precinct, is situated the Town of Malmo, a small, but industrious and important town of
Saunders County. This town is located on the Schuyler branch of the Burlington Railroad, with two trains each day.
Malmo had its beginning in 1886, at which time the town was surveyed on land purchased from Jerry Fisher. The names
of Ostenburg, Bredenburg, Hulsing, Bostrom, Bruce, Blomberg, Rosenberg, Nelson, Larson, Ljungstrom, Olson, Frostrum,
Hokanson, Erickson, Eliason and Pherson are prominent among the early settlers of Malmo and vicinity. L. Isaacson
was the first to settle anywhere near the site of Malmo. He was from Kristianstad Lan, Sweden, having emigrated
to this country in 1868 and settled and homesteaded in the spring of the next year. Andrew Blomberg came two weeks
later from Omaha with a colony of Swedes from Dalcadia. The Malmo settlement was originally the first Swedish settlement
in the country with an organized church. This church was organized January 15, 1870. More detailed information
concerning the Swedish settlements in Saunders County is written in the chapter on early settlement.
Gus Bredenburg, Charles Hulsing and Ed Bostrom constructed the first store in the village in 1887. This was a general
store. The firm of Marsh & Chapman put up the second store. The first hotel was owned and operated by Fannie
The Farmers and Merchants Bank of Malmo was started in 1892 by W. H. Ostenburg as a private bank. On March 4, 1893,
the bank was incorporated by the following men: W. H. Ostenburg (cashier), J. C. Frahm, R. B. Van Driel (president),
C. J. Harrison, Peter Riemers, D. E. Bredenburg (vice president), John Frostrom, J. J. Johnson, C. W. Bruce, A.
E Larson, Edward Bostrom and P. B. Olson. The first capital stock was $25,000, the same as at present. The institution
carries a surplus fund of $5,000 and the deposits average $200,000 on the year. Peter Riemers is the president
in 1915; C. W. Bruce is vice president; Herman Lind is cashier; and W. H. and H. H. Ostenburg, J. C. Frahm, Christian
Scow, M S Hills and Andrew Roslund are the directors. This bank has borne a steady reputation for splendid business
methods and no bank in the county carries a greater amount of the dependency and faith of the people.