NE Iowa Town Losing Its Only Bank

RAYMOND, Iowa (AP) — The small community of Raymond is fighting the impending closure of its only bank, but it appears that little can be done to sway the business into staying.

Farmers State Bank will close its Raymond branch July 10. Bank president Todd Rohlfsen says employees will be transferred to other locations, and Farmers will sell its property in the city of around 800 people.

Mayor Monte Johnson said a petition posted at a local convenience store has collected more than 200 signatures opposing the bank's closure. The City Council also has passed a resolution opposing the closure.

Rohlfsen said the decision to close the branch was a difficult one and was made after careful study of traffic at the bank.