The Farmers Bank of Appomattox

Headquarters

223 Main St
Appomattox, VA 24522
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 5.50% →
1-Year CD 3.75% 5.25% →
2-Year CD 3.25% 4.50% →
5-Year CD 2.85% 4.00% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

The Farmers Bank of Appomattox is an FDIC insured institution located in Appomattox, VA. It was founded in 1918 and has approximately $0.34 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 6813
Date Established 1918
Assets $ 343.51 million
Loans $ 215.39 million
Deposits $ 307.55 million
Capital $ 32.40 million
 

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

Deposit Rates - October 10, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
SAV
0.10% $10 - Learn More
Money Market
0.10% $1,000 $9,999 Learn More
Money Market
0.15% $10,000 $24,999 Learn More
Money Market
0.20% $25,000 $49,999 Learn More
Money Market
0.25% $50,000 - Learn More
CD Rates APY MIN MAX
6 Mo CD
4.00% $1,000 $99,999 Learn More
6 Mo CD
4.15% $100,000 - Learn More
11 Month Certificate
3.00% $5,000 - Learn More
12 Mo CD
3.50% $1,000 $99,999 Learn More
12 Month No Penalty
3.25% $5,000 - Learn More
12 Mo CD
3.75% $100,000 - Learn More
15 MONTH
2.75% $1,000 - Learn More
18 Mo CD
2.75% $1,000 - Learn More
18 Month Club Certificate
3.30% $10,000 - Learn More
24 Mo CD
2.75% $1,000 $99,999 Learn More
24 Mo CD
3.25% $100,000 - Learn More
36 Mo CD
2.50% $1,000 $99,999 Learn More
36 Mo CD
3.00% $100,000 - Learn More
60 Mo CD
2.25% $1,000 $99,999 Learn More
60 Mo CD
2.85% $100,000 - Learn More

Fixed IRA Rates APY MIN MAX
5 Year Fixed Rate CD
2.25% $1,000 - Learn MoreShow Less
5 Year Jumbo IRA
2.85% $100,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Savings Variable Rate
0.70% $100 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
INTCK
0.05% $0 - Learn MoreShow Less
Club Accounts
0.10% $10,000 $49,999 Learn MoreShow Less
Century Checking
0.15% $50,000 $249,999 Learn MoreShow Less

Loan Rates - October 10, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for The Farmers Bank of Appomattox

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 2024

Lender APR Rate (%) Monthly
Payment
Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.588% 6.490%
0.75 points
$3,276 fees
$2,021 Learn More
Rocket Mortgage
NMLS ID: 3030
6.847% 6.750%
1.00 points
$3,200 fees
$2,076 Learn More
Wells Fargo Bank
NMLS ID: 399801

points
fees
Learn More
FHAloans.com
NMLS ID: Not a Lender

points
fees
Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
Intro APR 7.490 %
After Intro: 7.490 %
$0 Learn More
More Info

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

Branches

The Farmers Bank of Appomattox 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


The Farmers Bank of Appomattox Locations around zip code 20146




Climate Policy and Initiatives

The Farmers Bank of Appomattox is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.


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Financial Details

The Farmers Bank of Appomattox Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Farmers Bank of Appomattox. 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
The Farmers Bank of Appomattox U.S. Bank Average
4.49% 4.48%

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 June 30, 2024, The Farmers Bank of Appomattox had $1,511,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $32,395,000 in equity and $1,247,000 in loans loss reserves. That gives it a Texas Ratio of 4.49%.

Return on Equity
The Farmers Bank of Appomattox U.S. Bank Average
7.86% 10.46%

The Farmers Bank of Appomattox has a Return on Equity of 7.86% versus the BestCashCow average of 10.46%. 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
The Farmers Bank of Appomattox U.S. Bank Average
9.43% 10.84%

The Farmers Bank of Appomattox has a Capitalization of 9.43% versus the BestCashCow average of 10.84. 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.

The Farmers Bank of Appomattox Balance Sheet Analysis

As of June 30, 2024, The Farmers Bank of Appomattox had assets of $343,513,000, loans of $215,393,000, and deposits of $307,546,000. 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, 2024
ASSETS
Cash & Balances due from depository institutions $ 13.42 million
Interest-bearing balances $ 7.99 million
Total securities $ 92.90 million
Federal funds sold and reverse repurchase $ 0.34 million
Net loans and leases $ 215.39 million
Loan loss allowance $ 1.25 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 $ 17.79 million
     Total Assets $ 311.12 million
LIABILITIES
Total deposits $ 307.55 million
      Interest-bearing deposits $ 248.17 million
      Deposits held in domestic offices $ 307.55 million
      % insured (estimated) 88.95%
Federal funds purchased and repurchase agreements $ 1.94 million
Trading liabilities N.A.
Other borrowed funds $ 10.00 million
Subordinated debt N.A.
All other liabilities $ 0.73 million
      Total Liabilities $ 311.12 million
      Shareholders’ Equity $ 32.40 million

Summary Income Statement

June 30, 2024
INCOME AND EXPENSES
Total Interest Income $ 8.03 million
Total Interest Expense $ 2.56 million
Net interest income $ 5.47 million
Provision for loan and lease losses $ 0.29 million
Total non interest income $ 0.56 million
Total non interest expense $ 4.29 million
Pre-tax Net Operating Income $ 1.74 million

Bank Loan Profile?

The top three loan types in The Farmers Bank of Appomattox’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Consumer Auto Loans.

Compared to other banks in Virginia, The Farmers Bank of Appomattox has a significantly higher percent of 1-4 Family Residential Loans, Consumer Auto 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 43.34
Multifamily
Mortgages
1.29
Credit Card Loans 0.00
Consumer Auto Loans 14.04
Small Business Loans 5.63
Construction and Development Loans 7.84
Commercial Real Estate 15.16
Commercial and Industrial Loans 5.50
Farm Loans 0.67

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