Farmers and Merchants Bank (F&M) was a lending institution (1871−1952) based in Downtown Los Angeles, California. It is recognized both for its architecture and its pivotal role in the economic development of early Los Angeles. Other, non-related "F&M Banks" exist in various cities and towns across the United States.
Institutional history
The Farmers and Merchants Bank was founded in 1871 by 23 prominent Los Angeles businessmen, with an initial capital of $500,000. The three largest subscribers were financier Isaias W. Hellman ($100,000), former California Governor John G. Downey ($100,000), and Ozro W. Childs ($50,000) who in later years became the founders of the University of Southern California. Other investors included Charles Ducommun ($25,000), I.M. Hellman ($20,000), and Jose Mascarel ($10,000.). Its original location was at the Pico Building, on Main Street, between what is now US 101 and Temple, roughly at the site of the Triforium.[1]
The Farmers and Merchants Bank was the first incorporated bank in Los Angeles, founded in 1871 by Isaias W. Hellman.[2]