F&M BANK in Garden Grove (Tribune photo).

By Jim Tortolano/Orange County Tribune

When Farmers & Merchants Bank opened its first branch in Garden Grove in 1955, Garden Grove was not even a city yet.

Dwight Eisenhower was in his first term, the Dodgers were still in Brooklyn and a hip-swinging crooner names Elvis Presley was just getting famous.

At Tuesday night’s meeting of the Garden Grove City Council, a lease agreement with the F&M Bank at 10422 Garden Grove Blvd. to move and rent space in a five-story city-owned office building in the downtown-civic center area was approved on a 6-0 vote.

Councilmember John O’Neill was absent.

The new location will be at Garden Grove Boulevard and Euclid Street.

The 11-year deal would bring in an estimated $1,863,762 to city coffers.

Additionally, F&M Bank has agreed to contribute 8.28 percent of the building’s operating expenses, about $11,530 and a security deposit of $17,392.63.

Also Tuesday night, Don Schlensker and Susie Clisson as the 2024-25 Garden Grove Chamber of Commerce Man and Woman of the Year were recognized and presented with a proclamation honoring them for their community service.

The next city council meeting is scheduled for Sept. 24.