A second Farmers Bank was organized in Mankato on May 7, 1862. Mankato was an emerging center of economic activity just 14 miles northeast of Garden City on the Minnesota River. William J. Dexter, a stockholder of the Farmers Bank in Garden City, filed the application with the Auditor’s Office. Mr. Dexter authorized American Bank Note Company to change the location on the printing plates and ordered notes to be printed. However, the second Farmers Bank did not issue any notes. A third Farmers Bank was organized in Shakopee in 1864.