Our History


Perennial Bank (previously Farmers State Bank) has been serving the community for more than 100 years. Just as it was back then, (Farmers State Bank was one of the few banks that did not close during the Depression), it is still proving it’s leadership skills in the banking community. In what has been a tumultuous time for many banks, we continue to succeed and grow, maintaining our positive earnings and strong capital position, while reaffirming our 5 star rating for safety and soundness with Bauer Financial.

In January 2016 we completed a strategic merger with our sister banks, the Farmers & Merchants State Bank of Paynesville, and the Winthrop State Bank, two institutions that have served their own communities for more than 100 years.  This merger is a sign of our commitment to our present and future customers, as it creates a stronger bank, with the added convenience of multiple branches, and enhanced products and services.  It is our goal to maintain a sound institution of high integrity with a friendly, professional staff that is responsive to the changing needs of the community.

Mark Johnson, President

Darwin Bank History

Paynesville Branch History

Winthrop Branch History