Banks | Farmers & Merchants Savings Bank

Farmers & Merchants Savings Bank


Farmers & Merchants Savings Bank is an FDIC insured institution headquartered at 101 E Main St, Manchester, IA 52057.
It was founded in 1925 and has approximately $1 billion in assets. Customers can open an account at one of its 11 branches.

Deposit Rates - December 22, 2024

SAVINGS RATES APY MIN
Savings
0.20% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.45% $10,000 Compare
6 Mo CD
0.55% $100,000 Compare
12 Mo CD
0.55% $10,000 Compare
12 Mo CD
0.75% $100,000 Compare
Special: 18 Mo CD
0.50% $10,000 Compare
18 Mo CD
0.55% $10,000 Compare
Special: 18 Mo CD
0.55% $50,000 Compare
Special: 18 Mo CD
0.60% $100,000 Compare
18 Mo CD
0.75% $100,000 Compare
24 Mo CD
0.70% $10,000 Compare
24 Mo CD
0.90% $100,000 Compare
30 Mo CD
0.70% $10,000 Compare
30 Mo CD
0.90% $100,000 Compare
Special: 36 Mo CD
1.41% $10,000 Compare
36 Mo CD
0.80% $10,000 Compare
Special: 36 Mo CD
1.51% $25,000 Compare
36 Mo CD
1.00% $100,000 Compare
48 Mo CD
1.05% $10,000 Compare
48 Mo CD
1.26% $100,000 Compare
MM RATES APY MIN
Money Market
0.10% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.10% $25,000 Compare
FIXED IRA RATES APY MIN
Special: 18 Mo FIRA
0.50% $10,000
Special: 18 Mo FIRA
0.55% $50,000
Special: 18 Mo FIRA
0.60% $100,000
Special: 36 Mo FIRA
1.41% $10,000
Special: 36 Mo FIRA
1.51% $25,000
INT CHECKING RATES APY MIN
Int Ckg
0.15% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9298
Date Established 1925
Assets $ 584.43 million
Loans $ 409.13 million
Deposits $ 500.75 million
Capital $ 69.46 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 15.12 million
Interest-bearing balances $ 13.02 million
Total securities $ 139.55 million
Federal funds sold and reverse repurchase $ 1.53 million
Net loans and leases $ 409.13 million
Loan loss allowance $ 7.87 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 1.47 million
All other assets $ 10.34 million
     Total Assets $ 514.98 million

LIABILITIES
Total deposits $ 500.75 million
      Interest-bearing deposits $ 355.29 million
      Deposits held in domestic offices $ 500.75 million
      % insured (estimated) 62.74%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 3.10 millionn
      Total Liabilities $ 514.98 million
      Shareholders’ Equity $ 69.46 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 15.55 million
Total Interest Expense $ 5.19 million
Net interest income $ 10.36 million
Provision for loan and lease losses $ 1.18 million
Total non interest income $ 0.72 million
Total non interest expense $ 7.35 million
Pre-tax Net Operating Income $ 3.43 million

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