Banks | Farmers & Merchants Bank

Farmers & Merchants Bank


Farmers & Merchants Bank is an FDIC insured institution headquartered at 165 New Market Rd, Timberville, VA 22853.
It was founded in 1908 and has approximately $1 billion in assets. Customers can open an account at one of its 13 branches.

Deposit Rates - April 18, 2024

SAVINGS RATES APY MIN
Savings
0.25% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.10% $10,000 Compare
6 Mo CD
0.10% $100,000 Compare
12 Mo CD
0.20% $10,000 Compare
12 Mo CD
0.20% $100,000 Compare
18 Mo CD
0.25% $10,000 Compare
18 Mo CD
0.25% $100,000 Compare
24 Mo CD
0.30% $10,000 Compare
24 Mo CD
0.30% $100,000 Compare
30 Mo CD
0.40% $10,000 Compare
30 Mo CD
0.40% $100,000 Compare
Special: 33 Mo CD
0.45% $1,000 Compare
36 Mo CD
0.50% $10,000 Compare
36 Mo CD
0.50% $100,000 Compare
48 Mo CD
0.60% $10,000 Compare
48 Mo CD
0.60% $100,000 Compare
60 Mo CD
0.75% $10,000 Compare
60 Mo CD
0.75% $100,000 Compare
MM RATES APY MIN
Money Market
0.50% $2,500 Compare
Money Market
0.50% $10,000 Compare
Money Market
0.50% $25,000 Compare
PREMM RATES APY MIN
Premium Money Market
1.51% $10,000 Compare
Premium Money Market
1.51% $25,000 Compare
FIXED IRA RATES APY MIN
Special: 33 Mo FIRA
0.45% $1,000
INT CHECKING RATES APY MIN
Int Ckg
0.15% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8668
Date Established 1908
Assets $ 1,292.74 million
Loans $ 814.89 million
Deposits $ 1,137.70 million
Capital $ 80.37 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 19.85 million
Interest-bearing balances $ 0.06 million
Total securities $ 368.67 million
Federal funds sold and reverse repurchase $ 3.75 million
Net loans and leases $ 814.89 million
Loan loss allowance $ 8.32 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.06 million
Goodwill and other intangibles $ 2.92 million
All other assets $ 55.40 million
     Total Assets $ 1,212.37 million

LIABILITIES
Total deposits $ 1,137.70 million
      Interest-bearing deposits $ 868.98 million
      Deposits held in domestic offices $ 1,137.70 million
      % insured (estimated) 88.47%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 30.00 million
Subordinated debt N.A.
All other liabilities $ 14.97 millionn
      Total Liabilities $ 1,212.37 million
      Shareholders’ Equity $ 80.37 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 56.33 million
Total Interest Expense $ 24.26 million
Net interest income $ 32.07 million
Provision for loan and lease losses $ 1.03 million
Total non interest income $ 8.76 million
Total non interest expense $ 37.26 million
Pre-tax Net Operating Income $ 4.63 million

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