First Farmers & Merchants State Bank of Grand Meadow

105 North Main Street
Grand Meadow, MN 55936

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 15621
Date Established 1938
Assets $0.07 billion
Loans $0.05 billion
Deposits $0.05 billion
Capital $0.01 billion

First Farmers & Merchants State Bank of Grand Meadow is an FDIC insured institution located in Grand Meadow, MN. It was founded in 1938 and has approximately $0.07 billion in assets. Customers can open an account at one of its 3 branches.

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

Deposit Rates - October 14, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
CD Rates APY MIN MAX
3 Mo CD
0.15% $1,000 - Learn MoreShow Less
6 Mo CD
0.25% $1,000 - Learn MoreShow Less
12 Mo CD
0.35% $1,000 - Learn MoreShow Less
18 Mo CD
0.40% $1,000 - Learn MoreShow Less
24 Mo CD
0.55% $1,000 - Learn MoreShow Less
30 Mo CD
0.55% $1,000 - Learn MoreShow Less
36 Mo CD
0.85% $1,000 - Learn MoreShow Less
48 Mo CD
1.05% $1,000 - Learn MoreShow Less
60 Mo CD
1.15% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.35% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.50% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 $2,499 Learn MoreShow Less
Int Ckg
0.05% $2,500 $9,999 Learn MoreShow Less

Loan Rates - October 14, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Farmers & Merchants State Bank of Grand Meadow

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
AimLoan.com
NMLS ID: 2890
License#: 13256
3.634% 3.625% 0.13 $265 $1,141 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
Third Federal Savings and Loans
Third Federal Savings and Loans
3.990 %
$0 Learn More
More Info

Note to First Farmers & Merchants State Bank of Grand Meadow
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Branches

First Farmers & Merchants State Bank of Grand Meadow 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


First Farmers & Merchants State Bank of Grand Meadow Locations


Financial Details

First Farmers & Merchants State Bank of Grand Meadow Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Farmers & Merchants State Bank of Grand Meadow. 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
First Farmers & Merchants State Bank of Grand Meadow U.S. Bank Average
44.05% 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, First Farmers & Merchants State Bank of Grand Meadow had $3,036,000 in non-current loans and $607,000 in owned real estate. To cover these potential losses it had $7,522,000 in equity and $748,000 in loans loss reserves. That gives it a Texas Ratio of 44.05%.

Return on Equity
First Farmers & Merchants State Bank of Grand Meadow U.S. Bank Average
11.16% 9.50%

First Farmers & Merchants State Bank of Grand Meadow has a Return on Equity of 11.16% 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
First Farmers & Merchants State Bank of Grand Meadow U.S. Bank Average
11.01% 12.76%

First Farmers & Merchants State Bank of Grand Meadow has a Capitalization of 11.01% 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.

First Farmers & Merchants State Bank of Grand Meadow Balance Sheet Analysis

As of June 30, 2019, First Farmers & Merchants State Bank of Grand Meadow had assets of $68,337,000, loans of $53,624,000, and deposits of $54,811,000. 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 $0.01 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.05 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 $0.00 billion
All other assets $0.00 billion
     Total Assets $0.06 billion
LIABILITIES
Total deposits $0.05 billion
      Interest-bearing deposits $0.05 billion
      Deposits held in domestic offices $0.05 billion
      % insured (estimated) 69.62%
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 $0.06 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

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

Bank Loan Profile?

The top three loan types in First Farmers & Merchants State Bank of Grand Meadow’s loan portfolio are Farm Loans, Commercial Real Estate, and 1-4 Family Residential Loans.

Compared to other banks, First Farmers & Merchants State Bank of Grand Meadow’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 10.07
Multifamily
Mortgages
0.18
Credit Card Loans 0.00
Consumer Auto Loans 0.11
Small Business Loans 6.81
Construction and Development Loans 1.81
Commercial Real Estate 11.59
Commercial and Industrial Loans 10.03
Farm Loans 23.35

Frequently Asked Questions About First Farmers & Merchants State Bank Of Grand Meadow

Branches and Savings

Is First Farmers & Merchants State Bank Of Grand Meadow FDIC insured?

Yes. It is covered under FDIC Certificate #15621.

Why does First Farmers & Merchants State Bank Of Grand Meadow pay such low interest on savings accounts?

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

Why are First Farmers & Merchants State Bank Of Grand Meadow CD rates not competitive?

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

Is First Farmers & Merchants State Bank Of Grand Meadow a commercial bank?

Yes

Where are First Farmers & Merchants State Bank Of Grand Meadow locations?

See branch locations nearby.

Is First Farmers & Merchants State Bank Of Grand Meadow open on Saturdays?

Is First Farmers & Merchants State Bank Of Grand Meadow open on Sundays?

What time does First Farmers & Merchants State Bank Of Grand Meadow open?

What time does First Farmers & Merchants State Bank Of Grand Meadow close?

Are First Farmers & Merchants State Bank Of Grand Meadow ATMs Open 24/7?

Do First Farmers & Merchants State Bank Of Grand Meadow ATMs accept cash deposits?

Can First Farmers & Merchants State Bank Of Grand Meadow customers use other ATMs?

Do First Farmers & Merchants State Bank Of Grand Meadow branches have notaries?

Will First Farmers & Merchants State Bank Of Grand Meadow notarize my document?

What address for First Farmers & Merchants State Bank Of Grand Meadow should I put for incoming ACH transfers?

Will the First Farmers & Merchants State Bank Of Grand Meadow branch print checks?

Do First Farmers & Merchants State Bank Of Grand Meadow checks expire?

Does First Farmers & Merchants State Bank Of Grand Meadow require US citizenship to open account?

Can First Farmers & Merchants State Bank Of Grand Meadow close my account?

Does First Farmers & Merchants State Bank Of Grand Meadow Report to credit bureaus?

Does First Farmers & Merchants State Bank Of Grand Meadow Use Equifax?

What is First Farmers & Merchants State Bank Of Grand Meadow's ACH Routing Number?

What is First Farmers & Merchants State Bank Of Grand Meadow's SWIFT code?

Products

Does First Farmers & Merchants State Bank Of Grand Meadow offer mortgages?

Compare mortgage rates here.

Does First Farmers & Merchants State Bank Of Grand Meadow offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Farmers & Merchants State Bank Of Grand Meadow offer personal loans?

Compare personal loan rates here.

Does First Farmers & Merchants State Bank Of Grand Meadow offer student loans?

Will First Farmers & Merchants State Bank Of Grand Meadow cash a check?

Will First Farmers & Merchants State Bank Of Grand Meadow redeem a savings bond?

Does First Farmers & Merchants State Bank Of Grand Meadow cash savings bonds?

Will First Farmers & Merchants State Bank Of Grand Meadow cash money orders?

Can First Farmers & Merchants State Bank Of Grand Meadow issue a money order?

Does First Farmers & Merchants State Bank Of Grand Meadow do currency exchange?

Background on The Bank

Who owns First Farmers & Merchants State Bank Of Grand Meadow?

How long has First Farmers & Merchants State Bank Of Grand Meadow been around?

Can First Farmers & Merchants State Bank Of Grand Meadow transfer to other banks?

Does First Farmers & Merchants State Bank Of Grand Meadow have quick pay?

Does First Farmers & Merchants State Bank Of Grand Meadow accept rolled coins?

Will First Farmers & Merchants State Bank Of Grand Meadow accept loose change?

Where is First Farmers & Merchants State Bank Of Grand Meadow headquarters?

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