Banks | First Farmers & Merchants National Bank

First Farmers & Merchants National Bank


First Farmers & Merchants National Bank is an FDIC insured institution headquartered at 303 E Main St, Luverne, MN 56156.
It was founded in 1931 and has approximately $0 billion in assets. Customers can open an account at one of its 2 branches.

Deposit Rates - December 22, 2024

SAVINGS RATES APY MIN
Savings
0.01% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.05% $10,000 Compare
6 Mo CD
0.05% $100,000 Compare
12 Mo CD
0.10% $10,000 Compare
12 Mo CD
0.10% $100,000 Compare
18 Mo CD
0.10% $10,000 Compare
18 Mo CD
0.10% $100,000 Compare
24 Mo CD
0.25% $10,000 Compare
24 Mo CD
0.25% $100,000 Compare
30 Mo CD
0.25% $10,000 Compare
30 Mo CD
0.25% $100,000 Compare
36 Mo CD
0.30% $10,000 Compare
36 Mo CD
0.30% $100,000 Compare
48 Mo CD
0.35% $10,000 Compare
48 Mo CD
0.35% $100,000 Compare
60 Mo CD
0.45% $10,000 Compare
60 Mo CD
0.45% $100,000 Compare
MM RATES APY MIN
Money Market
0.03% $2,500 Compare
Money Market
0.05% $10,000 Compare
Money Market
0.08% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.01% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 5186
Date Established 1931
Assets $ 234.43 million
Loans $ 164.81 million
Deposits $ 192.79 million
Capital $ 21.56 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 12.47 million
Interest-bearing balances $ 7.87 million
Total securities $ 49.34 million
Federal funds sold and reverse repurchase $ 2.51 million
Net loans and leases $ 164.81 million
Loan loss allowance $ 2.23 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.39 million
Goodwill and other intangibles N.A.
All other assets $ 1.82 million
     Total Assets $ 212.87 million

LIABILITIES
Total deposits $ 192.79 million
      Interest-bearing deposits $ 156.39 million
      Deposits held in domestic offices $ 192.79 million
      % insured (estimated) 75.72%
Federal funds purchased and repurchase agreements $ 2.65 million
Trading liabilities N.A.
Other borrowed funds $ 1.28 million
Subordinated debt N.A.
All other liabilities $ 0.32 millionn
      Total Liabilities $ 212.87 million
      Shareholders’ Equity $ 21.56 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 5.82 million
Total Interest Expense $ 1.89 million
Net interest income $ 3.93 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.21 million
Total non interest expense $ 2.48 million
Pre-tax Net Operating Income $ 2.79 million

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