Farmers and Merchants State Bank of Blooming Prairie

Headquarters

245 East Main Street
Blooming Prairie, MN 55917
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.25% 0.95% →
1-Year CD 0.40% 1.01% →
2-Year CD 0.40% 0.95% →
5-Year CD 0.40% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Farmers and Merchants State Bank of Blooming Prairie is an FDIC insured institution located in Blooming Prairie, MN. It was founded in 1904 and has approximately $0.09 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 1599
Date Established 1904
Assets $ 88.58 million
Loans $ 68.10 million
Deposits $ 79.48 million
Capital $ 7.32 million
 

For a more detailed analysis of Farmers and Merchants State Bank of Blooming Prairie's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.25% $2,500 $4,999 Learn More
Money Market
0.25% $2,500 $2,999 Learn More
Money Market
0.25% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.25% $10,000 $14,999 Learn More
3 Mo CD
0.25% $100,000 $199,999 Learn More
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.40% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.40% $100,000 $199,999 Learn More
36 Mo CD
0.25% $10,000 $14,999 Learn More
36 Mo CD
0.40% $100,000 $199,999 Learn More
48 Mo CD
0.25% $10,000 $14,999 Learn More
48 Mo CD
0.40% $100,000 $199,999 Learn More
60 Mo CD
0.25% $10,000 $14,999 Learn More
60 Mo CD
0.40% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.25% $1 $99 Learn MoreShow Less
Int Ckg
0.25% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Farmers and Merchants State Bank of Blooming Prairie

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.669% 2.625% 0.63 $1,450 $1,005 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Farmers and Merchants State Bank of Blooming Prairie
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Branches

Farmers and Merchants State Bank of Blooming Prairie branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Farmers and Merchants State Bank of Blooming Prairie Locations


Financial Details

Farmers and Merchants State Bank of Blooming Prairie Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Farmers and Merchants State Bank of Blooming Prairie. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Farmers and Merchants State Bank of Blooming Prairie U.S. Bank Average
3.62% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Farmers and Merchants State Bank of Blooming Prairie had $292,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $7,321,000 in equity and $741,000 in loans loss reserves. That gives it a Texas Ratio of 3.62%.

Return on Equity
Farmers and Merchants State Bank of Blooming Prairie U.S. Bank Average
24.78% 7.80%

Farmers and Merchants State Bank of Blooming Prairie has a Return on Equity of 24.78% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Farmers and Merchants State Bank of Blooming Prairie U.S. Bank Average
8.26% 12.68%

Farmers and Merchants State Bank of Blooming Prairie has a Capitalization of 8.26% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Farmers and Merchants State Bank of Blooming Prairie Balance Sheet Analysis

As of March 31, 2020, Farmers and Merchants State Bank of Blooming Prairie had assets of $88,581,000, loans of $68,098,000, and deposits of $79,484,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 16.18 million
Interest-bearing balances $ 13.28 million
Total securities $ 0.19 million
Federal funds sold and reverse repurchase $ 1.32 million
Net loans and leases $ 68.10 million
Loan loss allowance $ 0.74 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 $ 2.25 million
     Total Assets $ 81.26 million
LIABILITIES
Total deposits $ 79.48 million
      Interest-bearing deposits $ 61.66 million
      Deposits held in domestic offices $ 79.48 million
      % insured (estimated) 74.12%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 0.08 million
Subordinated debt N.A.
All other liabilities $ 1.70 million
      Total Liabilities $ 81.26 million
      Shareholders’ Equity $ 7.32 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.13 million
Total Interest Expense $ 0.16 million
Net interest income $ 0.98 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.06 million
Total non interest expense $ 0.57 million
Pre-tax Net Operating Income $ 0.47 million

Bank Loan Profile?

The top three loan types in Farmers and Merchants State Bank of Blooming Prairie’s loan portfolio are Farm Loans, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Minnesota, Farmers and Merchants State Bank of Blooming Prairie has a significantly higher percent of Small Business Loans, Farm Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 16.95
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.95
Small Business Loans 12.71
Construction and Development Loans 0.41
Commercial Real Estate 12.71
Commercial and Industrial Loans 10.47
Farm Loans 31.02

Frequently Asked Questions About Farmers And Merchants State Bank Of Blooming Prairie

Branches and Savings

Is Farmers And Merchants State Bank Of Blooming Prairie FDIC insured?

Yes. It is covered under FDIC Certificate #1599.

Why does Farmers And Merchants State Bank Of Blooming Prairie pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Farmers And Merchants State Bank Of Blooming Prairie CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Farmers And Merchants State Bank Of Blooming Prairie a commercial bank?

Yes

Where are Farmers And Merchants State Bank Of Blooming Prairie locations?

See branch locations nearby.

Is Farmers And Merchants State Bank Of Blooming Prairie open on Saturdays?

Is Farmers And Merchants State Bank Of Blooming Prairie open on Sundays?

What time does Farmers And Merchants State Bank Of Blooming Prairie open?

What time does Farmers And Merchants State Bank Of Blooming Prairie close?

Are Farmers And Merchants State Bank Of Blooming Prairie ATMs Open 24/7?

Do Farmers And Merchants State Bank Of Blooming Prairie ATMs accept cash deposits?

Can Farmers And Merchants State Bank Of Blooming Prairie customers use other ATMs?

Do Farmers And Merchants State Bank Of Blooming Prairie branches have notaries?

Will Farmers And Merchants State Bank Of Blooming Prairie notarize my document?

What address for Farmers And Merchants State Bank Of Blooming Prairie should I put for incoming ACH transfers?

Will the Farmers And Merchants State Bank Of Blooming Prairie branch print checks?

Do Farmers And Merchants State Bank Of Blooming Prairie checks expire?

Does Farmers And Merchants State Bank Of Blooming Prairie require US citizenship to open account?

Can Farmers And Merchants State Bank Of Blooming Prairie close my account?

Does Farmers And Merchants State Bank Of Blooming Prairie Report to credit bureaus?

Does Farmers And Merchants State Bank Of Blooming Prairie Use Equifax?

What is Farmers And Merchants State Bank Of Blooming Prairie's ACH Routing Number?

What is Farmers And Merchants State Bank Of Blooming Prairie's SWIFT code?

Products

Does Farmers And Merchants State Bank Of Blooming Prairie offer mortgages?

Compare mortgage rates here.

Does Farmers And Merchants State Bank Of Blooming Prairie offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Farmers And Merchants State Bank Of Blooming Prairie offer personal loans?

Compare personal loan rates here.

Does Farmers And Merchants State Bank Of Blooming Prairie offer student loans?

Will Farmers And Merchants State Bank Of Blooming Prairie cash a check?

Will Farmers And Merchants State Bank Of Blooming Prairie redeem a savings bond?

Does Farmers And Merchants State Bank Of Blooming Prairie cash savings bonds?

Will Farmers And Merchants State Bank Of Blooming Prairie cash money orders?

Can Farmers And Merchants State Bank Of Blooming Prairie issue a money order?

Does Farmers And Merchants State Bank Of Blooming Prairie do currency exchange?

Background on The Bank

Who owns Farmers And Merchants State Bank Of Blooming Prairie?

How long has Farmers And Merchants State Bank Of Blooming Prairie been around?

Can Farmers And Merchants State Bank Of Blooming Prairie transfer to other banks?

Does Farmers And Merchants State Bank Of Blooming Prairie have quick pay?

Does Farmers And Merchants State Bank Of Blooming Prairie accept rolled coins?

Will Farmers And Merchants State Bank Of Blooming Prairie accept loose change?

Where is Farmers And Merchants State Bank Of Blooming Prairie headquarters?

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