Farmers & Merchants Bank of Craig County


Farmers & Merchants Bank of Craig County is an FDIC insured institution headquartered at 189 Main St, New Castle, VA 24127.
It was founded in 1917 and has approximately $0 billion in assets. Customers can open an account at one of its 1 branches.

Deposit Rates - December 21, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9986
Date Established 1917
Assets $ 88.72 million
Loans $ 48.84 million
Deposits $ 73.89 million
Capital $ 14.58 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 7.86 million
Interest-bearing balances $ 4.45 million
Total securities $ 29.63 million
Federal funds sold and reverse repurchase $ 0.14 million
Net loans and leases $ 48.84 million
Loan loss allowance $ 0.63 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 0.49 million
     Total Assets $ 74.14 million

LIABILITIES
Total deposits $ 73.89 million
      Interest-bearing deposits $ 54.88 million
      Deposits held in domestic offices $ 73.89 million
      % insured (estimated) 88.23%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.17 millionn
      Total Liabilities $ 74.14 million
      Shareholders’ Equity $ 14.58 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 1.80 million
Total Interest Expense $ 0.45 million
Net interest income $ 1.35 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.09 million
Total non interest expense $ 0.93 million
Pre-tax Net Operating Income $ 0.36 million

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Branches

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Farmers & Merchants Bank of Craig County Locations