Farmers & Mechanics Bank

21 East Main Street
Galesburg, IL 61401

Notable Rates APY Vs.Others
Savings 0.10% 2.30% →
1-Year CD 0.50% 2.25% →
2-Year CD 0.75% 2.50% →
5-Year CD 1.25% 2.80% →
30-Year Mortgage N.A. 3.31% →
15-Year Mortgage N.A. 2.77% →
HELOC N.A. 4.00% →

2019 Overview

General Bank Information

Farmers & Mechanics Bank is an FDIC insured institution located in Galesburg, IL. It was founded in 1869 and has approximately $0.38 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 924
Date Established 1869
Assets $0.38 billion
Loans $0.24 billion
Deposits $0.31 billion
Capital $0.05 billion
 

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

Deposit Rates - December 6, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $2,500 $24,999 Learn MoreShow Less
Money Market
0.15% $25,000 $99,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.25% $1,000 - Learn MoreShow Less
6 Mo CD
0.35% $1,000 - Learn MoreShow Less
Special: 7 Mo CD
1.70% $1,000 - Learn MoreShow Less
12 Mo CD
0.50% $1,000 - Learn MoreShow Less
18 Mo CD
0.50% $1,000 - Learn MoreShow Less
24 Mo CD
0.75% $1,000 - Learn MoreShow Less
30 Mo CD
0.75% $1,000 - Learn MoreShow Less
36 Mo CD
0.85% $1,000 - Learn MoreShow Less
48 Mo CD
1.00% $1,000 - Learn MoreShow Less
60 Mo CD
1.25% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.50% $1,000 - Learn MoreShow Less
Special: 7 Mo FIRA
1.70% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.10% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1 - Learn MoreShow Less

Loan Rates - December 6, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Farmers & Mechanics Bank

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




Featured - Connecticut 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
3.626% 3.625% 0.00 $42 $1,141 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.990% 4.990% 0.00 $0 $1,341 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.625% 3.625% 0.00 ($65) $1,141 Learn More
Rocket Mortgage
NMLS ID: 3030
4.875% 4.875% 0.00 $0 $1,324 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
Intro APR
3.990 %
After Intro: 5.000 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
3.740 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
5.000 %
$0 Learn More
More Info

Note to Farmers & Mechanics Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Farmers & Mechanics Bank 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:
Fairfield,Connecticut


Farmers & Mechanics Bank Locations


Financial Details

Farmers & Mechanics Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Farmers & Mechanics Bank. 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 & Mechanics Bank U.S. Bank Average
1.15% 6.77%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 June 30, 2019, Farmers & Mechanics Bank had $610,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $50,587,000 in equity and $2,468,000 in loans loss reserves. That gives it a Texas Ratio of 1.15%.

Return on Equity
Farmers & Mechanics Bank U.S. Bank Average
7.25% 9.50%

Farmers & Mechanics Bank has a Return on Equity of 7.25% versus the BestCashCow average of 9.50%. 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 & Mechanics Bank U.S. Bank Average
13.45% 12.76%

Farmers & Mechanics Bank has a Capitalization of 13.45% versus the BestCashCow average of 12.76. 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 & Mechanics Bank Balance Sheet Analysis

As of June 30, 2019, Farmers & Mechanics Bank had assets of $376,236,000, loans of $238,923,000, and deposits of $310,274,000. 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

June 30, 2019
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.00 billion
Total securities $0.09 billion
Federal funds sold and reverse repurchase $0.01 billion
Net loans and leases $0.24 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.01 billion
All other assets $0.01 billion
     Total Assets $0.33 billion
LIABILITIES
Total deposits $0.31 billion
      Interest-bearing deposits $0.27 billion
      Deposits held in domestic offices $0.31 billion
      % insured (estimated) 78.62%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.33 billion
      Shareholders’ Equity $0.05 billion

Summary Income Statement

June 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.01 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in Farmers & Mechanics Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Farmers & Mechanics Bank’s loan portfolio does not show any specific loan specialty.

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 24.91
Multifamily
Mortgages
6.99
Credit Card Loans 0.00
Consumer Auto Loans 7.03
Small Business Loans 9.82
Construction and Development Loans 5.72
Commercial Real Estate 26.50
Commercial and Industrial Loans 16.94
Farm Loans 3.45

Frequently Asked Questions About Farmers & Mechanics Bank

Branches and Savings

Is Farmers & Mechanics Bank FDIC insured?

Yes. It is covered under FDIC Certificate #924.

Why does Farmers & Mechanics Bank pay such low interest on savings accounts?

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

Why are Farmers & Mechanics Bank CD rates not competitive?

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

Is Farmers & Mechanics Bank a commercial bank?

Yes

Where are Farmers & Mechanics Bank locations?

See branch locations nearby.

Is Farmers & Mechanics Bank open on Saturdays?

Is Farmers & Mechanics Bank open on Sundays?

What time does Farmers & Mechanics Bank open?

What time does Farmers & Mechanics Bank close?

Are Farmers & Mechanics Bank ATMs Open 24/7?

Do Farmers & Mechanics Bank ATMs accept cash deposits?

Can Farmers & Mechanics Bank customers use other ATMs?

Do Farmers & Mechanics Bank branches have notaries?

Will Farmers & Mechanics Bank notarize my document?

What address for Farmers & Mechanics Bank should I put for incoming ACH transfers?

Will the Farmers & Mechanics Bank branch print checks?

Do Farmers & Mechanics Bank checks expire?

Does Farmers & Mechanics Bank require US citizenship to open account?

Can Farmers & Mechanics Bank close my account?

Does Farmers & Mechanics Bank Report to credit bureaus?

Does Farmers & Mechanics Bank Use Equifax?

What is Farmers & Mechanics Bank's ACH Routing Number?

What is Farmers & Mechanics Bank's SWIFT code?

Products

Does Farmers & Mechanics Bank offer mortgages?

Compare mortgage rates here.

Does Farmers & Mechanics Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Farmers & Mechanics Bank offer personal loans?

Compare personal loan rates here.

Does Farmers & Mechanics Bank offer student loans?

Will Farmers & Mechanics Bank cash a check?

Will Farmers & Mechanics Bank redeem a savings bond?

Does Farmers & Mechanics Bank cash savings bonds?

Will Farmers & Mechanics Bank cash money orders?

Can Farmers & Mechanics Bank issue a money order?

Does Farmers & Mechanics Bank do currency exchange?

Background on The Bank

Who owns Farmers & Mechanics Bank?

How long has Farmers & Mechanics Bank been around?

Can Farmers & Mechanics Bank transfer to other banks?

Does Farmers & Mechanics Bank have quick pay?

Does Farmers & Mechanics Bank accept rolled coins?

Will Farmers & Mechanics Bank accept loose change?

Where is Farmers & Mechanics Bank headquarters?

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