Banks | First Farmers & Merchants State Bank

First Farmers & Merchants State Bank


First Farmers & Merchants State Bank is an FDIC insured institution headquartered at 106 W Main St, Brownsdale, MN 55918.
It was founded in 1908 and has approximately $0 billion in assets. Customers can open an account at one of its 3 branches.

Deposit Rates - December 22, 2024

SAVINGS RATES APY MIN
Savings
0.05% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.25% $1,000 Compare
12 Mo CD
0.30% $1,000 Compare
24 Mo CD
0.35% $1,000 Compare
Special: 25 Mo CD
0.50% $10,000 Compare
36 Mo CD
0.40% $1,000 Compare
48 Mo CD
0.45% $1,000 Compare
60 Mo CD
0.50% $1,000 Compare
MM RATES APY MIN
Money Market
0.05% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.15% $25,000 Compare
FIXED IRA RATES APY MIN
Special: 25 Mo FIRA
0.50% $10,000
INT CHECKING RATES APY MIN
Int Ckg
0.01% $1
Int Ckg
0.02% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 1600
Date Established 1908
Assets $ 102.76 million
Loans $ 75.23 million
Deposits $ 71.58 million
Capital $ 8.39 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 1.40 million
Interest-bearing balances $ 0.16 million
Total securities $ 23.00 million
Federal funds sold and reverse repurchase $ 0.11 million
Net loans and leases $ 75.23 million
Loan loss allowance $ 0.72 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.30 million
All other assets $ 0.83 million
     Total Assets $ 94.37 million

LIABILITIES
Total deposits $ 71.58 million
      Interest-bearing deposits $ 58.97 million
      Deposits held in domestic offices $ 71.58 million
      % insured (estimated) 90.14%
Federal funds purchased and repurchase agreements $ 0.10 million
Trading liabilities N.A.
Other borrowed funds $ 3.10 million
Subordinated debt N.A.
All other liabilities $ 0.17 millionn
      Total Liabilities $ 94.37 million
      Shareholders’ Equity $ 8.39 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 2.50 million
Total Interest Expense $ 0.83 million
Net interest income $ 1.67 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.20 million
Total non interest expense $ 1.31 million
Pre-tax Net Operating Income $ 0.44 million

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