The Skidmore News featured several items of town history in celebration of the town’s birthday in its July 28, 1921 edition. Here’s what the paper had to say about the state of high finance in town:
It would take entirely too much space, to say nothing of time, to try to discuss all of the business concerns in Skidmore at the present time, but since a town is judged largely by its banks, our two banks will be mentioned.
The Farmers Bank is the older of the two — in fact is the first bank that was established here, although it has not been under the same management from the start. The Farmers Bank was incorporated August 24, 1892, by R. M. Stevenson, E. C. Hartwig, Louis Hax, P. S. Wright and Earnest Davis, with a capital stock of $10,000. P. S. Wright was in charge as cashier. On September 24, 1892, H. W. Montgomery became cashier, and is still acting in that capacity. August 15, 1899, the most of the stock changed hands, and the company was reorganized with W. J. Skidmore as president, Robert Montgomery of Oregon, Mo., vice-president, and W. H. Hoblitzell assistant cashier. Robert Montgomery later became president of the institution.
In 1899 Fayette Cook and son built the opera block and opened a bank, which failed about 1903 or 1904.
The Bank of Skidmore was chartered April 5, 1904. On its organization, D. W. Porter of Mound City was elected president and J. B. Ross cashier. It continued under this management until September 14, 1904, when W. R. Linville purchased stock in the corporation and was elected president of the bank and has continued in that capacity since. W. S. Linville was elected cashier in June 1907 to succeed J. B. Ross, and still holds that position. George W. Walton and G. F. Kellogg served as assistant cashiers until 1912, when C. E. Linville was elected and retains that place. When the bank was first organized, it was located in the Masonic building and continued business there until about the year 1906, when it was moved to its present location.