Article Text
Four Banks In Marengo During First 100 Years Marengo State Bank Is Only One Running During its 100 years of history, Marengo has had four banks. The first bank to be opened was the First National Bank, which was founded July 29, 1871. This bank has had a profound influence on Marengo's commercial and economic life. It went into receivership August 27, 1932. Second Bank The Farmer's and Drover's Bank was the second bank for Marengo, having been founded in 1872. It closed in 1885, having been pulled down by the failure of A. W. Boies. Marengo's third bank, the Dairyman's State Bank, began business Oct. 30, 1890, closing its doors in 1929. Still Operates The fourth, and last bank for Marengo, and the only one of the four still in operation is the Marengo State Bank, which was opened for business, April 9, 1930, and is in close respects a reorganization of the Dairyman's State Bank. A fifth bank, the People's State Bank of Marengo, was proposed, August 1913, and a permit was secured by the state auditor for its organization but it never opened for business.