Banks | Mechanics & Farmers Bank

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 02, 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 $ 482.54 million
Loans $ 279.44 million
Deposits $ 411.41 million
Capital $ 64.35 million

Summary Balance Sheet as of September 30, 2024

ASSETS
Cash & Balances due from depository institutions $ 36.77 million
Interest-bearing balances $ 34.42 million
Total securities $ 143.62 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 279.44 million
Loan loss allowance $ 3.76 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 $ 17.07 million
     Total Assets $ 418.19 million

LIABILITIES
Total deposits $ 411.41 million
      Interest-bearing deposits $ 313.91 million
      Deposits held in domestic offices $ 411.41 million
      % insured (estimated)" 67.78%
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 $ 418.19 million
      Shareholders’ Equity $ 64.35 million

Summary Income Statement as of September 30, 2024

INCOME AND EXPENSES
Total Interest Income $ 17.44 million
Total Interest Expense $ 3.75 million
Net interest income $ 13.69 million
Provision for loan and lease losses $ 0.27 million
Total non interest income $ 3.16 million
Total non interest expense $ 12.81 million
Pre-tax Net Operating Income $ 2.41 million

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