Banks | First Farmers & Merchants State Bank of Grand Meadow

First Farmers & Merchants State Bank of Grand Meadow


First Farmers & Merchants State Bank of Grand Meadow is an FDIC insured institution headquartered at 105 Main St N, Grand Meadow, MN 55936.
It was founded in 1938 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% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
12 Mo CD
0.30% $10,000 Compare
12 Mo CD
0.30% $100,000 Compare
18 Mo CD
0.30% $10,000 Compare
18 Mo CD
0.30% $100,000 Compare
24 Mo CD
0.30% $10,000 Compare
24 Mo CD
0.30% $100,000 Compare
30 Mo CD
0.30% $10,000 Compare
30 Mo CD
0.30% $100,000 Compare
36 Mo CD
0.50% $10,000 Compare
36 Mo CD
0.50% $100,000 Compare
48 Mo CD
0.70% $10,000 Compare
48 Mo CD
0.70% $100,000 Compare
60 Mo CD
0.80% $10,000 Compare
60 Mo CD
0.80% $100,000 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
INT CHECKING RATES APY MIN
Int Ckg
0.05% $1
Int Ckg
0.05% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 15621
Date Established 1938
Assets $ 90.79 million
Loans $ 69.60 million
Deposits $ 72.67 million
Capital $ 7.23 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 5.23 million
Interest-bearing balances $ 3.35 million
Total securities $ 13.27 million
Federal funds sold and reverse repurchase $ 0.22 million
Net loans and leases $ 69.60 million
Loan loss allowance $ 0.76 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 $ 0.63 million
     Total Assets $ 83.56 million

LIABILITIES
Total deposits $ 72.67 million
      Interest-bearing deposits $ 60.69 million
      Deposits held in domestic offices $ 72.67 million
      % insured (estimated) 77.04%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1.84 million
Subordinated debt N.A.
All other liabilities $ 0.10 millionn
      Total Liabilities $ 83.56 million
      Shareholders’ Equity $ 7.23 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 2.42 million
Total Interest Expense $ 0.82 million
Net interest income $ 1.61 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.10 million
Total non interest expense $ 1.19 million
Pre-tax Net Operating Income $ 0.64 million

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