The Farmers and Merchants Bank, Cochrane, Wisconsin, was organized pursuant to the state banking laws in 1902. The bank was reorganized in 1929 by the order of the State Banking Commission, although it finally failed in 1933. With the aid of the Reconstruction Finance Corporation and its purchase of one-third of the bank's capital stock, the Cochrane bank was able to reopen. Finally, in 1940, the assets of the bank had to be liquidated due to its inability to collect a sufficient percentage on its outstanding mortgages. By order of the State Banking Commission, the remaining assets were sold and the liabilities were assumed by the more successful banks in the area of Cochrane.