The history of The Farmers Bank of Mt. Pulaski, Illinois begins in 1872 when Leonard K. Scroggin, with the assistance of Walter Sawyer, formed a private bank, known as the Scroggin & Sawyer Bank. Mr. Scroggin was a local land owner and had a successful farming business which had grown to such an extent that he decided to open a private bank. The bank was originally located in a building that faced west on South Washington Street, about a half a block south of the square. This building no longer stands.
On February 7th, 1876, Mr. Scroggin bought the lot where the present bank is located to build a new building to house the bank. This building was very substantial for the time and consisted of the bank and a store with offices, a large opera house, and a dance hall located above. The building also included a three-story hotel and rooming house, which had 20 rooms in addition to a parlor and a dining room. Upon completion of the new building, the new bank was called Scroggin & Son, and a few years after that, was known as The Farmers Bank of Scroggin & Son.
On July 1, 1914, The Farmers Bank of Scroggin & Son went public and was incorporated as a State Bank under the name of The Farmers Bank of Mt. Pulaski, Illinois, as it is still called today. One thousand shares of stock were sold at $100.00 per share. The majority of the original 109 stockholders were from Mt. Pulaski and its surrounding communities. Many of the stockholders today are descendants of the original stockholders.
In 1996, The Farmers Bank of Mt. Pulaski opened its drive up facility on the corner of Washington and Cooke streets. The drive up facility housed the new ATM and ATM cards were issued. In 2004, the bank introduced image statements. And finally in 2006, the bank’s website and on line banking services were launched.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
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