Farmers & Merchants Bank of Craig County is an FDIC insured institution headquartered at
189 Main St, New Castle, VA 24127.
It was founded in
1917 and has approximately $0 billion in
assets. Customers can open an account at one of its 1 branches.
Third Federal rate are typically 20% lower than other leaders
Guaranteed Lowest Rate
No closing costs, prepayment penalties, or minimum draw requirements
10 year draw period
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for
taxes and insurance premiums. Click here for more information on rates and product details.
Customized Rate Quotes, no SSN or Hard Credit Pull
24 x 7 Online Customer Portal Access
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for
taxes and insurance premiums. Click here for more information on rates and product details.
Overview 2023
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 9986
Date Established
1917
Assets
$ 85.77 million
Loans
$ 36.71 million
Deposits
$ 71.69 million
Capital
$ 13.60 million
Summary Balance Sheet as of September 30, 2022
ASSETS
Cash & Balances due from depository institutions
$ 15.87 million
Interest-bearing balances
$ 13.75 million
Total securities
$ 30.08 million
Federal funds sold and reverse repurchase
$ 0.51 million
Net loans and leases
$ 36.71 million
Loan loss allowance
$ 0.42 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
$ 0.49 million
Total Assets
$ 71.89 million
LIABILITIES
Total deposits
$ 71.69 million
Interest-bearing deposits
$ 52.57 million
Deposits held in domestic offices
$ 71.69 million
% insured (estimated)
86.95%
Federal funds purchased and repurchase agreements
N.A.
Trading liabilities
N.A.
Other borrowed funds
N.A.
Subordinated debt
N.A.
All other liabilities
$ 0.17 millionn
Total Liabilities
$ 71.89 million
Shareholders’ Equity
$ 13.88 million
Summary Income Statement as of September 30, 2022
INCOME AND EXPENSES
Total Interest Income
$ 1.83 million
Total Interest Expense
$ 0.09 million
Net interest income
$ 1.75 million
Provision for loan and lease losses
$ 0.01 million
Total non interest income
$ 0.16 million
Total non interest expense
$ 1.22 million
Pre-tax Net Operating Income
$ 0.36 million
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