Farmers & Merchants Savings Bank

Headquarters

101 E Main Street
Manchester, IA 52057
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.20% 0.95% →
1-Year CD 0.75% 1.01% →
2-Year CD 0.90% 0.95% →
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 Savings Bank is an FDIC insured institution located in Manchester, IA. It was founded in 1925 and has approximately $0.59 billion in assets. Customers can open an account at one of its 11 branches.

FDIC Insured Yes
FDIC Certificate # 9298
Date Established 1925
Assets $ 585.57 million
Loans $ 468.35 million
Deposits $ 444.99 million
Capital $ 77.14 million
 

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

Deposit Rates - October 25, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.20% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.10% $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
0.35% $100,000 $199,999 Learn More
6 Mo CD
0.45% $10,000 $14,999 Learn More
6 Mo CD
0.55% $100,000 $199,999 Learn More
12 Mo CD
0.55% $10,000 $14,999 Learn More
12 Mo CD
0.75% $100,000 $199,999 Learn More
Special: 18 Mo CD
0.50% $10,000 $49,999 Learn More
18 Mo CD
0.55% $10,000 $14,999 Learn More
Special: 18 Mo CD
0.55% $50,000 $99,999 Learn More
Special: 18 Mo CD
0.60% $100,000 - Learn More
18 Mo CD
0.75% $100,000 $199,999 Learn More
24 Mo CD
0.70% $10,000 $14,999 Learn More
24 Mo CD
0.90% $100,000 $199,999 Learn More
30 Mo CD
0.70% $10,000 $14,999 Learn More
30 Mo CD
0.90% $100,000 $199,999 Learn More
Special: 36 Mo CD
1.41% $10,000 $24,999 Learn More
36 Mo CD
0.80% $10,000 $14,999 Learn More
Special: 36 Mo CD
1.51% $25,000 - Learn More
36 Mo CD
1.00% $100,000 $199,999 Learn More
48 Mo CD
1.05% $10,000 $14,999 Learn More
48 Mo CD
1.26% $100,000 $199,999 Learn More

Fixed IRA Rates APY MIN MAX
Special: 18 Mo FIRA
0.50% $10,000 $49,999 Learn MoreShow Less
Special: 18 Mo FIRA
0.55% $50,000 $99,999 Learn MoreShow Less
Special: 18 Mo FIRA
0.60% $100,000 - Learn MoreShow Less
Special: 36 Mo FIRA
1.41% $10,000 $24,999 Learn MoreShow Less
Special: 36 Mo FIRA
1.51% $25,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 25, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Farmers & Merchants Savings Bank

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
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.575% 2.500% 1.00 $2,470 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 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 & Merchants Savings Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Farmers & Merchants Savings 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:
Ashburn,Virginia


Farmers & Merchants Savings Bank Locations


Financial Details

Farmers & Merchants Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Farmers & Merchants Savings 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 & Merchants Savings Bank U.S. Bank Average
10.18% 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 Savings Bank had $7,637,000 in non-current loans and $1,149,000 in owned real estate. To cover these potential losses it had $77,139,000 in equity and $9,188,000 in loans loss reserves. That gives it a Texas Ratio of 10.18%.

Return on Equity
Farmers & Merchants Savings Bank U.S. Bank Average
11.7% 7.80%

Farmers & Merchants Savings Bank has a Return on Equity of 11.7% 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 Savings Bank U.S. Bank Average
13.17% 12.68%

Farmers & Merchants Savings Bank has a Capitalization of 13.17% 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 Savings Bank Balance Sheet Analysis

As of March 31, 2020, Farmers & Merchants Savings Bank had assets of $585,569,000, loans of $468,348,000, and deposits of $444,994,000. 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 $ 48.33 million
Interest-bearing balances $ 6.29 million
Total securities $ 34.29 million
Federal funds sold and reverse repurchase $ 14.10 million
Net loans and leases $ 468.35 million
Loan loss allowance $ 9.19 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.15 million
Goodwill and other intangibles $ 0.87 million
All other assets $ 13.00 million
     Total Assets $ 508.43 million
LIABILITIES
Total deposits $ 444.99 million
      Interest-bearing deposits $ 345.44 million
      Deposits held in domestic offices $ 444.99 million
      % insured (estimated) 68.10%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 60.00 million
Subordinated debt N.A.
All other liabilities $ 3.44 million
      Total Liabilities $ 508.43 million
      Shareholders’ Equity $ 77.14 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 6.59 million
Total Interest Expense $ 1.43 million
Net interest income $ 5.17 million
Provision for loan and lease losses $ 0.33 million
Total non interest income $ 0.58 million
Total non interest expense $ 3.30 million
Pre-tax Net Operating Income $ 2.11 million

Bank Loan Profile?

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

Compared to other banks in Iowa, Farmers & Merchants Savings Bank has a significantly higher percent of Credit Card Loans, Commercial and Industrial 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 10.67
Multifamily
Mortgages
0.81
Credit Card Loans 0.40
Consumer Auto Loans 0.14
Small Business Loans 0.00
Construction and Development Loans 5.05
Commercial Real Estate 19.71
Commercial and Industrial Loans 42.63
Farm Loans 9.49

Frequently Asked Questions About Farmers & Merchants Savings Bank

Branches and Savings

Is Farmers & Merchants Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #9298.

Why does Farmers & Merchants Savings 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 & Merchants Savings Bank CD rates not competitive?

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

Is Farmers & Merchants Savings Bank a commercial bank?

Yes

Where are Farmers & Merchants Savings Bank locations?

See branch locations nearby.

Is Farmers & Merchants Savings Bank open on Saturdays?

Is Farmers & Merchants Savings Bank open on Sundays?

What time does Farmers & Merchants Savings Bank open?

What time does Farmers & Merchants Savings Bank close?

Are Farmers & Merchants Savings Bank ATMs Open 24/7?

Do Farmers & Merchants Savings Bank ATMs accept cash deposits?

Can Farmers & Merchants Savings Bank customers use other ATMs?

Do Farmers & Merchants Savings Bank branches have notaries?

Will Farmers & Merchants Savings Bank notarize my document?

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

Will the Farmers & Merchants Savings Bank branch print checks?

Do Farmers & Merchants Savings Bank checks expire?

Does Farmers & Merchants Savings Bank require US citizenship to open account?

Can Farmers & Merchants Savings Bank close my account?

Does Farmers & Merchants Savings Bank Report to credit bureaus?

Does Farmers & Merchants Savings Bank Use Equifax?

What is Farmers & Merchants Savings Bank's ACH Routing Number?

What is Farmers & Merchants Savings Bank's SWIFT code?

Products

Does Farmers & Merchants Savings Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Farmers & Merchants Savings Bank offer personal loans?

Compare personal loan rates here.

Does Farmers & Merchants Savings Bank offer student loans?

Will Farmers & Merchants Savings Bank cash a check?

Will Farmers & Merchants Savings Bank redeem a savings bond?

Does Farmers & Merchants Savings Bank cash savings bonds?

Will Farmers & Merchants Savings Bank cash money orders?

Can Farmers & Merchants Savings Bank issue a money order?

Does Farmers & Merchants Savings Bank do currency exchange?

Background on The Bank

Who owns Farmers & Merchants Savings Bank?

How long has Farmers & Merchants Savings Bank been around?

Can Farmers & Merchants Savings Bank transfer to other banks?

Does Farmers & Merchants Savings Bank have quick pay?

Does Farmers & Merchants Savings Bank accept rolled coins?

Will Farmers & Merchants Savings Bank accept loose change?

Where is Farmers & Merchants Savings Bank headquarters?

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