page_title: State Farm
section_title: Financial services
hierarchical_section_title: State Farm / Overview / Financial services
caption_attribution_description: English: State Farm Insurance at Markham
context_page_description: State Farm is a large group of insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois.
context_section_description: State Farm has expanded into the financial services arena, such as banking and mutual funds.
  The bank opened in May 1999 and is operated by State Farm Financial Services, FSB, a subsidiary of State Farm Mutual Automobile Insurance Co. These are separate from its insurance products. State Farm Bank does not have branch offices. Its regular banking services, which include checking and savings accounts, certificates of deposit, and money market accounts, are available to consumers countrywide via the Internet or over the phone, and through agents. Home mortgages are available countrywide over the phone or through agents.
  In the 1950s, State Farm held a contest among the agents, to come up with ideas to expand the State Farm business. Robert H. Kent, a State Farm agent in Chicago, came up with the idea of providing auto loans to existing policyholders. Robert H. Kent was friends with a local bank president at LaSalle NW, and the two teamed up to pilot the auto finance program. State Farm liked the idea so much that it was rolled out to all the agents. Robert H. Kent received royalties on the program for 20 years. This event created the first marketing partnership between insurance companies and banks.
caption: State Farm Insurance in Ontario.
exif: {"Image Make": "NIKON CORPORATION", "Image Model": "NIKON D5100", "Image Orientation": "Horizontal (normal)", "Image XResolution": "300", "Image YResolution": "300", "Image ResolutionUnit": "Pixels/Inch", "Image Software": "Capture NX-D 1.1.0 W", "Image DateTime": "2015:04:29 11:28:55", "Image YCbCrPositioning": "Centered", "Image ReferenceBlackWhite": "[0, 255, 0, 255, 0, 255]", "Image ExifOffset": "296", "GPS GPSVersionID": "[2, 3, 0, 0]", "Image GPSInfo": "910", "Thumbnail Compression": "JPEG (old-style)", "Thumbnail XResolution": "300", "Thumbnail YResolution": "300", "Thumbnail ResolutionUnit": "Pixels/Inch", "Thumbnail JPEGInterchangeFormat": "13056", "Thumbnail JPEGInterchangeFormatLength": "4564", "EXIF ExposureTime": "1/400", "EXIF FNumber": "8", "EXIF ExposureProgram": "Aperture Priority", "EXIF ISOSpeedRatings": "100", "EXIF SensitivityType": "Recommended Exposure Index", "EXIF ExifVersion": "0230", "EXIF DateTimeOriginal": "2015:04:28 19:05:11", "EXIF DateTimeDigitized": "2015:04:28 19:05:11", "EXIF ComponentsConfiguration": "YCbCr", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "24/5", "EXIF MeteringMode": "Pattern", "EXIF LightSource": "Unknown", "EXIF Flash": "Flash did not fire", "EXIF FocalLength": "40", "EXIF SubSecTime": "80", "EXIF SubSecTimeOriginal": "80", "EXIF SubSecTimeDigitized": "80", "EXIF FlashPixVersion": "0100", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "4928", "EXIF ExifImageLength": "3264", "EXIF SensingMethod": "One-chip color area", "EXIF FileSource": "Digital Camera", "EXIF SceneType": "Directly Photographed", "EXIF CVAPattern": "[0, 2, 0, 2, 0, 1, 1, 2]", "EXIF CustomRendered": "Normal", "EXIF ExposureMode": "Auto Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "1", "EXIF FocalLengthIn35mmFilm": "60", "EXIF SceneCaptureType": "Standard", "EXIF GainControl": "None", "EXIF Contrast": "Normal", "EXIF Saturation": "Normal", "EXIF Sharpness": "Soft", "EXIF SubjectDistanceRange": "0"}