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Mechanics & Farmers Bank


Mechanics & Farmers Bank is an FDIC insured institution headquartered at 116 W Parrish St, Durham, NC 27701.
It was founded in 1908 and has approximately $0 billion in assets. Customers can open an account at one of its 8 branches.

Deposit Rates - April 22, 2025

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
0.10% $100,000 Compare
12 Mo CD
0.07% $10,000 Compare
12 Mo CD
0.10% $100,000 Compare
18 Mo CD
0.10% $10,000 Compare
18 Mo CD
0.15% $100,000 Compare
24 Mo CD
0.20% $10,000 Compare
24 Mo CD
0.20% $100,000 Compare
30 Mo CD
0.20% $10,000 Compare
30 Mo CD
0.20% $100,000 Compare
36 Mo CD
0.30% $10,000 Compare
36 Mo CD
0.30% $100,000 Compare
48 Mo CD
0.30% $10,000 Compare
48 Mo CD
0.30% $100,000 Compare
60 Mo CD
0.30% $10,000 Compare
60 Mo CD
0.35% $100,000 Compare
MM RATES APY MIN
Money Market
0.01% $2,500 Compare
Money Market
0.02% $10,000 Compare
Money Market
0.03% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.01% $2,500

Overview 2025

General Bank Information

FDIC Insured Yes
FDIC Certificate # 12266
Date Established 1908
Assets $ 498.12 million
Loans $ 280.13 million
Deposits $ 430.13 million
Capital $ 62.09 million

Summary Balance Sheet as of December 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 38.30 million
Interest-bearing balances $ 35.66 million
Total securities $ 154.73 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 280.13 million
Loan loss allowance $ 3.90 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.10 million
Goodwill and other intangibles $ 0.03 million
All other assets $ 17.07 million
     Total Assets $ 436.03 million

LIABILITIES
Total deposits $ 430.13 million
      Interest-bearing deposits $ 335.14 million
      Deposits held in domestic offices $ 430.13 million
      % insured (estimated)" 67.64%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 0.11 million
Subordinated debt N.A.
All other liabilities $ 4.48 millionn
      Total Liabilities $ 436.03 million
      Shareholders’ Equity $ 62.09 million

Summary Income Statement as of December 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 23.82 million
Total Interest Expense $ 5.41 million
Net interest income $ 18.41 million
Provision for loan and lease losses $ 0.60 million
Total non interest income $ 4.48 million
Total non interest expense $ 17.21 million
Pre-tax Net Operating Income $ 2.41 million

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