On July 24, 1909, Farmers State Bank received its charter as a state bank of Kansas. Located at 121 South Main Street in Galva, Kansas, there were sixty-five stockholders with an original capital structure of $10,000. By June 6, 1939, the bank had a capital structure of $25,000 with deposit totaling $154,000 and eighteen stockholders.
In 1972, the bank moved to its new location at 219 South Main Street and on November 1, 1972 was purchased by J.B. Warren and Bob Richter. Total assets were $1,650,000. In 1975, J.B. and Margaret Warren purchased the Richter interest and in 1982, Galva Bancshares, Inc., a one-bank holding company was organized and continues to hold the bank stock.
In December of 1987, Galva Bancshares purchased Falun State Bank. In October of 1989, a branch of the bank was opened at 2074 East Kansas Ave. in McPherson, Kansas, followed by the opening of the another branch at 447 Harrison St. in Lindsborg, Kansas. In November of 2004, the newest branch was opened at 1603 North Main St. in McPherson.
On July 24, 2009, Farmers State Bank celebrated its 100th Anniversary. A century strong, the bank now has capital accounts in excess of $8 million & $87 million in assets.