Farmers & Merchants State Bank of New York Mills, Incorporated

Headquarters

Walker Avenue And Front Street
New York Mills, MN 56567
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.85% →
1-Year CD 0.90% 0.70% →
2-Year CD N.A. 0.75% →
5-Year CD 1.36% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Farmers & Merchants State Bank of New York Mills, Incorporated is an FDIC insured institution located in New York Mills, MN. It was founded in 1916 and has approximately $0.08 billion in assets.

FDIC Insured Yes
FDIC Certificate # 9340
Date Established 1916
Assets $ 80.37 million
Loans $ 30.57 million
Deposits $ 68.65 million
Capital $ 10.29 million
 

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

Deposit Rates - September 19, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $1 - Learn More
Money Market
0.10% $1 $24,999 Learn More
Money Market
0.18% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.60% $5,000 - Learn More
12 Mo CD
0.90% $500 - Learn More
18 Mo CD
0.95% $1,000 - Learn More
36 Mo CD
1.15% $1,000 - Learn More
60 Mo CD
1.36% $5,000 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $1 $24,999 Learn MoreShow Less
 

Loan Rates - September 19, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Farmers & Merchants State Bank of New York Mills, Incorporated

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 2021

Lender APR Rate (%) Monthly
Payment
Learn More
Better.com
NMLS ID: 330511
2.933% 2.875%
0.75 points
$1,860 fees
$1,038 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Farmers & Merchants State Bank of New York Mills, Incorporated
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Farmers & Merchants State Bank of New York Mills, Incorporated 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 & Merchants State Bank of New York Mills, Incorporated Locations


Financial Details

Farmers & Merchants State Bank of New York Mills, Incorporated Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Farmers & Merchants State Bank of New York Mills, Incorporated. 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 State Bank of New York Mills, Incorporated U.S. Bank Average
0% 5.29%

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, 2021, Farmers & Merchants State Bank of New York Mills, Incorporated had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $10,292,000 in equity and $514,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Farmers & Merchants State Bank of New York Mills, Incorporated U.S. Bank Average
6.56% 11.43%

Farmers & Merchants State Bank of New York Mills, Incorporated has a Return on Equity of 6.56% versus the BestCashCow average of 11.43%. 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 State Bank of New York Mills, Incorporated U.S. Bank Average
12.81% 11.51%

Farmers & Merchants State Bank of New York Mills, Incorporated has a Capitalization of 12.81% versus the BestCashCow average of 11.51. 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 State Bank of New York Mills, Incorporated Balance Sheet Analysis

As of March 31, 2021, Farmers & Merchants State Bank of New York Mills, Incorporated had assets of $80,374,000, loans of $30,572,000, and deposits of $68,648,000. 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, 2021
ASSETS
Cash & Balances due from depository institutions $ 6.02 million
Interest-bearing balances $ 4.27 million
Total securities $ 40.58 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 30.57 million
Loan loss allowance $ 0.51 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 $ 2.96 million
     Total Assets $ 70.08 million
LIABILITIES
Total deposits $ 68.65 million
      Interest-bearing deposits $ 50.29 million
      Deposits held in domestic offices $ 68.65 million
      % insured (estimated) 75.78%
Federal funds purchased and repurchase agreements $ 0.45 million
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.99 million
      Total Liabilities $ 70.08 million
      Shareholders’ Equity $ 10.29 million

Summary Income Statement

March 31, 2021
INCOME AND EXPENSES
Total Interest Income $ 0.58 million
Total Interest Expense $ 0.08 million
Net interest income $ 0.50 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.05 million
Total non interest expense $ 0.42 million
Pre-tax Net Operating Income $ 0.13 million

Bank Loan Profile?

The top three loan types in Farmers & Merchants State Bank of New York Mills, Incorporated’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks, Farmers & Merchants State Bank of New York Mills, Incorporated’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 14.31
Multifamily
Mortgages
4.90
Credit Card Loans 0.00
Consumer Auto Loans 2.36
Small Business Loans 0.00
Construction and Development Loans 8.04
Commercial Real Estate 25.14
Commercial and Industrial Loans 17.15
Farm Loans 6.66

Frequently Asked Questions About Farmers & Merchants State Bank Of New York Mills, Incorporated

Branches and Savings

Is Farmers & Merchants State Bank Of New York Mills, Incorporated FDIC insured?

Yes. It is covered under FDIC Certificate #9340.

Why does Farmers & Merchants State Bank Of New York Mills, Incorporated 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 State Bank Of New York Mills, Incorporated CD rates not competitive?

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

Is Farmers & Merchants State Bank Of New York Mills, Incorporated a commercial bank?

Yes

Where are Farmers & Merchants State Bank Of New York Mills, Incorporated locations?

See branch locations nearby.

Is Farmers & Merchants State Bank Of New York Mills, Incorporated open on Saturdays?

Is Farmers & Merchants State Bank Of New York Mills, Incorporated open on Sundays?

What time does Farmers & Merchants State Bank Of New York Mills, Incorporated open?

What time does Farmers & Merchants State Bank Of New York Mills, Incorporated close?

Are Farmers & Merchants State Bank Of New York Mills, Incorporated ATMs Open 24/7?

Do Farmers & Merchants State Bank Of New York Mills, Incorporated ATMs accept cash deposits?

Can Farmers & Merchants State Bank Of New York Mills, Incorporated customers use other ATMs?

Do Farmers & Merchants State Bank Of New York Mills, Incorporated branches have notaries?

Will Farmers & Merchants State Bank Of New York Mills, Incorporated notarize my document?

What address for Farmers & Merchants State Bank Of New York Mills, Incorporated should I put for incoming ACH transfers?

Will the Farmers & Merchants State Bank Of New York Mills, Incorporated branch print checks?

Do Farmers & Merchants State Bank Of New York Mills, Incorporated checks expire?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated require US citizenship to open account?

Can Farmers & Merchants State Bank Of New York Mills, Incorporated close my account?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated Report to credit bureaus?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated Use Equifax?

What is Farmers & Merchants State Bank Of New York Mills, Incorporated's ACH Routing Number?

What is Farmers & Merchants State Bank Of New York Mills, Incorporated's SWIFT code?

Products

Does Farmers & Merchants State Bank Of New York Mills, Incorporated offer mortgages?

Compare mortgage rates here.

Does Farmers & Merchants State Bank Of New York Mills, Incorporated offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Farmers & Merchants State Bank Of New York Mills, Incorporated offer personal loans?

Compare personal loan rates here.

Does Farmers & Merchants State Bank Of New York Mills, Incorporated offer student loans?

Will Farmers & Merchants State Bank Of New York Mills, Incorporated cash a check?

Will Farmers & Merchants State Bank Of New York Mills, Incorporated redeem a savings bond?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated cash savings bonds?

Will Farmers & Merchants State Bank Of New York Mills, Incorporated cash money orders?

Can Farmers & Merchants State Bank Of New York Mills, Incorporated issue a money order?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated do currency exchange?

Background on The Bank

Who owns Farmers & Merchants State Bank Of New York Mills, Incorporated?

How long has Farmers & Merchants State Bank Of New York Mills, Incorporated been around?

Can Farmers & Merchants State Bank Of New York Mills, Incorporated transfer to other banks?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated have quick pay?

Does Farmers & Merchants State Bank Of New York Mills, Incorporated accept rolled coins?

Will Farmers & Merchants State Bank Of New York Mills, Incorporated accept loose change?

Where is Farmers & Merchants State Bank Of New York Mills, Incorporated headquarters?

Customer Reviews for Farmers & Merchants State Bank of New York Mills, Incorporated

There are currently no comments for Farmers & Merchants State Bank of New York Mills, Incorporated. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →