Farmers & Merchants Bank of Craig County

Headquarters

189 Main Street
New Castle, VA 24127
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 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 & Merchants Bank of Craig County is an FDIC insured institution located in New Castle, VA. It was founded in 1917 and has approximately $0.06 billion in assets.

FDIC Insured Yes
FDIC Certificate # 9986
Date Established 1917
Assets $ 60.45 million
Loans $ 32.02 million
Deposits $ 47.86 million
Capital $ 12.36 million
 

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

Deposit Rates - September 18, 2020

Your Current Location: Washington, WA 98109


Loan Rates - September 18, 2020

Your Current Location: Washington, WA 98109

There are currently no loan rates available for Farmers & Merchants Bank of Craig County

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




Featured - Washington 30 Year Fixed Mortgage Rates 2020

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3.746% 3.625% 1.00 $3,750 $1,141 Learn More
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License#: 520-CL-25944
2.815% 2.750% 0.88 $2,120 $1,021 Learn More
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4.114% 3.990% 1.00 $3,750 $1,193 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2020

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Bethpage Federal Credit Union
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Note to Farmers & Merchants Bank of Craig County
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Branches

Farmers & Merchants Bank of Craig County branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

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Farmers & Merchants Bank of Craig County Locations


Financial Details

Farmers & Merchants Bank of Craig County Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Farmers & Merchants Bank of Craig County. 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 & Merchants Bank of Craig County U.S. Bank Average
0.54% 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 & Merchants Bank of Craig County had $12,000 in non-current loans and $57,000 in owned real estate. To cover these potential losses it had $12,363,000 in equity and $419,000 in loans loss reserves. That gives it a Texas Ratio of 0.54%.

Return on Equity
Farmers & Merchants Bank of Craig County U.S. Bank Average
5.85% 7.80%

Farmers & Merchants Bank of Craig County has a Return on Equity of 5.85% 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 & Merchants Bank of Craig County U.S. Bank Average
20.45% 12.68%

Farmers & Merchants Bank of Craig County has a Capitalization of 20.45% 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 & Merchants Bank of Craig County Balance Sheet Analysis

As of March 31, 2020, Farmers & Merchants Bank of Craig County had assets of $60,450,000, loans of $32,020,000, and deposits of $47,857,000. 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 $ 3.74 million
Interest-bearing balances $ 1.89 million
Total securities $ 21.90 million
Federal funds sold and reverse repurchase $ 0.13 million
Net loans and leases $ 32.02 million
Loan loss allowance $ 0.42 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.06 million
Goodwill and other intangibles N.A.
All other assets $ 0.65 million
     Total Assets $ 48.09 million
LIABILITIES
Total deposits $ 47.86 million
      Interest-bearing deposits $ 37.55 million
      Deposits held in domestic offices $ 47.86 million
      % insured (estimated) 92.63%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.23 million
      Total Liabilities $ 48.09 million
      Shareholders’ Equity $ 12.36 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.64 million
Total Interest Expense $ 0.06 million
Net interest income $ 0.58 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.03 million
Total non interest expense $ 0.38 million
Pre-tax Net Operating Income $ 0.23 million

Bank Loan Profile?

The top three loan types in Farmers & Merchants Bank of Craig County’s loan portfolio are 1-4 Family Residential Loans, Construction and Development Loans, and Consumer Auto Loans.

Compared to other banks in Virginia, Farmers & Merchants Bank of Craig County has a significantly higher percent of 1-4 Family Residential 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 55.64
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 5.34
Small Business Loans 0.00
Construction and Development Loans 5.92
Commercial Real Estate 3.52
Commercial and Industrial Loans 1.55
Farm Loans 2.12

Frequently Asked Questions About Farmers & Merchants Bank Of Craig County

Branches and Savings

Is Farmers & Merchants Bank Of Craig County FDIC insured?

Yes. It is covered under FDIC Certificate #9986.

Why does Farmers & Merchants Bank Of Craig County pay such low interest on savings accounts?

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

Why are Farmers & Merchants Bank Of Craig County CD rates not competitive?

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

Is Farmers & Merchants Bank Of Craig County a commercial bank?

Yes

Where are Farmers & Merchants Bank Of Craig County locations?

See branch locations nearby.

Is Farmers & Merchants Bank Of Craig County open on Saturdays?

Is Farmers & Merchants Bank Of Craig County open on Sundays?

What time does Farmers & Merchants Bank Of Craig County open?

What time does Farmers & Merchants Bank Of Craig County close?

Are Farmers & Merchants Bank Of Craig County ATMs Open 24/7?

Do Farmers & Merchants Bank Of Craig County ATMs accept cash deposits?

Can Farmers & Merchants Bank Of Craig County customers use other ATMs?

Do Farmers & Merchants Bank Of Craig County branches have notaries?

Will Farmers & Merchants Bank Of Craig County notarize my document?

What address for Farmers & Merchants Bank Of Craig County should I put for incoming ACH transfers?

Will the Farmers & Merchants Bank Of Craig County branch print checks?

Do Farmers & Merchants Bank Of Craig County checks expire?

Does Farmers & Merchants Bank Of Craig County require US citizenship to open account?

Can Farmers & Merchants Bank Of Craig County close my account?

Does Farmers & Merchants Bank Of Craig County Report to credit bureaus?

Does Farmers & Merchants Bank Of Craig County Use Equifax?

What is Farmers & Merchants Bank Of Craig County's ACH Routing Number?

What is Farmers & Merchants Bank Of Craig County's SWIFT code?

Products

Does Farmers & Merchants Bank Of Craig County offer mortgages?

Compare mortgage rates here.

Does Farmers & Merchants Bank Of Craig County offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Farmers & Merchants Bank Of Craig County offer personal loans?

Compare personal loan rates here.

Does Farmers & Merchants Bank Of Craig County offer student loans?

Will Farmers & Merchants Bank Of Craig County cash a check?

Will Farmers & Merchants Bank Of Craig County redeem a savings bond?

Does Farmers & Merchants Bank Of Craig County cash savings bonds?

Will Farmers & Merchants Bank Of Craig County cash money orders?

Can Farmers & Merchants Bank Of Craig County issue a money order?

Does Farmers & Merchants Bank Of Craig County do currency exchange?

Background on The Bank

Who owns Farmers & Merchants Bank Of Craig County?

How long has Farmers & Merchants Bank Of Craig County been around?

Can Farmers & Merchants Bank Of Craig County transfer to other banks?

Does Farmers & Merchants Bank Of Craig County have quick pay?

Does Farmers & Merchants Bank Of Craig County accept rolled coins?

Will Farmers & Merchants Bank Of Craig County accept loose change?

Where is Farmers & Merchants Bank Of Craig County headquarters?

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