About State Farm Bank
State Farm was started in 1922 by retired farmer and insurance salesman George Jacob “G.J.” Mecherle. The company has grown from a single-line auto insurer to a provider of about 100 products and services across five different lines of business.
State Farm Bank officially began operations in March 1999. The financial institution is headquartered in Bloomington, Illinois. As of year-end 2018, State Farm Bank had $16.9 billion in assets. State Farm Bank offers checking and savings accounts, loans and other products through its agents, website, call center and the mail.
State Farm Bank offers a robust suite of deposit and lending products. The majority of direct customer interaction and product assistance is provided by State Farm agents. If you need access to a traditional bank branch or frequently have to deal with cash, you might want to look elsewhere.