The origin of The Farmers State Bank was in 1889 with H. G. Bloom commencing operations of the Farmers Bank.  Mr. Bloom was the sole shareholder and President of the bank until his death in 1907. After his death, the bank moved locations within New Madison and the name was changed to the Farmers Banking Company.

Operation of the Farmers Banking Company continued until 1919, when a State Banking Charter was obtained and the name was changed to The Farmers State Bank. Over the next several years the ownership of the bank changed as the Bloom family divested their ownership to others within the New Madison community, but the name remained the same. The name was not the only thing that remained the same over the next 95 years.

In 1926, E. H. Coblentz joined the bank as an Assistant Cashier and he continued with the bank until his death in 1967. Mr. Coblentz progressed through the bank to become President and Chairman of the Board of Directors in 1949. E.H. was followed by his son, Clay S. Coblentz, whom assumed the Presidency of the bank until 1983. Clay served as Chairman of the Board of Directors until his death in 1991. Clay’s son, Jack A. Coblentz, joined the Board of Directors of the bank in 1964.  Over the years, Jack has served in various capacities as a Bank Director and Officer. Jack A. Coblentz is currently the Chairman of the Board of Directors, a position he has occupied for the past several years. In 2022, Chanda Coblentz Nichols was named the Vice Chairman of the Board of Directors to ensure the ongoing guidance of the Coblentz Family for years to come.

Bank growth was slow and steady for the first fifty years of operation, but in 1969 a new building was constructed at 101 South Main Street, New Madison, Ohio to house the banking operation. Growth opportunities in Darke County Ohio prompted the bank to expand to Greenville, Ohio in 1979 with a location at 1107 Sweitzer Street, Greenville, Ohio, which is across from the Great Darke County Fairgrounds. The first banking center outside of Darke County was opened in 1989 at 618 South Washington Street, New Paris, Ohio.  A second location was opened in Greenville in 2000 at 675 Wagner Avenue. In 2009, a branch was opened in Warren County at 65 West Central Avenue, Springboro, Ohio. The sixth location was opened in 2014 at 100 North Commerce Street, Lewisburg, Ohio. The seventh location was opened in 2015 at 930 East Washington Street in Winchester, Indiana. The eighth location was opened in 2017 at 910 North Meridian Street, Portland, Indiana. In 2020, 201 South Washington Street, New Paris, Ohio was purchased and the 618 South Washington Street, New Paris, Ohio branch was relocated to the property.