Merger Q&A


  1. Did the bank get sold? Is there a change in ownership of the bank?

As announced October 2021 Drew Donnelly sold the State Bank of Wheaton to Steve & Mary Jane Lindholm of Clarkfield MN.  State Bank of Wheaton and FM BANK are simply being merged into one bank under the FM BANK name.

  1. Why are you merging State Bank of Wheaton with FM BANK?

Merging the banks will allow us to focus more time and resources on you, our customers and add more products and services.  We, of course, will remain the community bank we have always been, strongly supporting the financial well-being of our customers and the communities we serve.

  1. Why is State Bank of Wheaton changing the name? Why FM BANK?

The merger of the banks requires us to use the same name at all locations. The name FM BANK is a salute to FM BANK’s history which began at Farmers & Merchants State Bank of Clarkfield, commonly referred to as F&M. While the “F” in our new name is intended to show a focus on Agriculture (“F” as in Farmers) and the “M” a focus on local community businesses (“M” as in Merchants), our name can also be seen more broadly considering the many consumer products we offer.

  1. Will there be any changes to the staff?

No.  The staff and their positions and responsibilities will remain the same.

  1. Can I still call the State Bank of Wheaton with questions? Is the bank phone number going to change?  Will I still get a real person when I call? 

Yes.  The telephone number is not changing, and you will continue to talk with the same friendly, helpful staff members as always.

  1. Is the bank in Wheaton still a local hometown bank or are you just a branch?

We will continue to operate as a community bank as we have in the past, with a local President and local decision making.  We will continue to strongly support the financial well-being of our customers and the communities we serve.

  1. Will decisions still be made locally, and will my loan structure stay the same?


  1. Where are the other branches located? Can I bank at them now too?

Granite Falls, Clarkfield, Olivia and Fergus Falls.  Yes, you can use those locations for banking services.  Current FM BANK customers can also use the Wheaton location after the merger.

  1. Will I still have the same account number and routing number if I have an account at the State Bank of Wheaton? Will my current checks still work?  Will I need to change my automatic deposits and payments?

For the vast majority of our customers there will be no change to their account number(s).  If you haven’t been notified of such a change, your account number(s) will not be changing.

There will also be no immediate change to the State Bank of Wheaton routing number (091202943).  You will be able to continue to use your existing checks and continue with your automatic payments and deposits after the merger date.

However, the State Bank of Wheaton routing number will eventually be retired so we will help you change to its replacement on new check orders and for automatic payments and deposits, when necessary.

  1. Will my State Bank of Wheaton debit card still work?

Yes, through March 26th, 2023.  New FM BANK debit cards will be issued to all State Bank of Wheaton customers in mid-March.  Expect to receive your new card around March 20th.  These new debit cards will begin working on March 27th.  Please see the debit card replacement letter for further information.

  1. Is the State Bank of Wheaton website/Online Banking changing? Will my username and password stay the same?

Yes, the website will have a new web address,  The website will have a similar look and feel as the existing one, but things such as color and logos will change.

Your username for Online Banking will remain the same.  Each customer in Online Banking will need to re-establish their password, security questions and answers the first time you log on or after March 27th.

In the rare case where there is a duplicate username, we will contact you prior to merger date and assist you in changing your username.

  1. Is the State Bank of Wheaton mobile banking changing? Do I need to download a new app?

Yes.  You will need to download the FM BANK (MN) app in the Apple and Google Play store.

  1. Will I need to set up new transfers between my State Bank of Wheaton checking and savings in Online Banking?

Yes, all automatic transfers between accounts will need to be re-established in Online Banking.

  1. Will the rates change on my loans or CD’s?

No, the rates and terms of your existing loans and CD’s will stay the same.