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 - April 18, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9986
Date Established 1917
Assets $ 87.38 million
Loans $ 46.15 million
Deposits $ 72.63 million
Capital $ 14.51 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 7.54 million
Interest-bearing balances $ 5.27 million
Total securities $ 31.30 million
Federal funds sold and reverse repurchase $ 0.16 million
Net loans and leases $ 46.15 million
Loan loss allowance $ 0.61 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 $ 72.87 million

LIABILITIES
Total deposits $ 72.63 million
      Interest-bearing deposits $ 53.33 million
      Deposits held in domestic offices $ 72.63 million
      % insured (estimated) 89.22%
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 $ 72.87 million
      Shareholders’ Equity $ 14.51 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 3.35 million
Total Interest Expense $ 0.40 million
Net interest income $ 2.95 million
Provision for loan and lease losses $ 0.16 million
Total non interest income $ 0.20 million
Total non interest expense $ 1.75 million
Pre-tax Net Operating Income $ 0.36 million

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