The Community Bank of Russellville has had a long history in the area. The first bank in town was the Russellville Exchange Bank organized in 1895. Later, in 1912 the Farmers and Merchants Bank was organized. In the late 1920s the Exchange Bank took over the Farmers and Merchants Bank. When the Great Depression hit, the bank was closed for a short time. It reopened July 10, 1934 under the name of Community Bank of Russellville. The bank remained in the Exchange Bank Building until 1972 when it moved to the present location. In 1999 the building went through a renovation and addition. The Community Bank of Russellville opened a branch at Eugene, Missouri in March of 2008.