Farmers & Merchants Bank of Craig County


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.

Deposit Rates - March 19, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9986
Date Established 1917
Assets $ 84.02 million
Loans $ 42.62 million
Deposits $ 69.37 million
Capital $ 14.43 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 4.62 million
Interest-bearing balances $ 1.67 million
Total securities $ 31.78 million
Federal funds sold and reverse repurchase $ 2.71 million
Net loans and leases $ 42.62 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 $ 0.49 million
     Total Assets $ 69.59 million

LIABILITIES
Total deposits $ 69.37 million
      Interest-bearing deposits $ 50.24 million
      Deposits held in domestic offices $ 69.37 million
      % insured (estimated) 91.74%
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 $ 69.59 million
      Shareholders’ Equity $ 14.43 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 2.49 million
Total Interest Expense $ 0.25 million
Net interest income $ 2.24 million
Provision for loan and lease losses $ 0.02 million
Total non interest income $ 0.14 million
Total non interest expense $ 1.29 million
Pre-tax Net Operating Income $ 0.36 million

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