Banks | First Farmers & Merchants State Bank of Grand Meadow
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First Farmers & Merchants State Bank of Grand Meadow


First Farmers & Merchants State Bank of Grand Meadow is an FDIC insured institution headquartered at 105 Main St N, Grand Meadow, MN 55936.
It was founded in 1938 and has approximately $0 billion in assets. Customers can open an account at one of its 3 branches.

Deposit Rates - April 25, 2025

SAVINGS RATES APY MIN
Savings
0.05% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.25% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
12 Mo CD
0.30% $10,000 Compare
12 Mo CD
0.30% $100,000 Compare
18 Mo CD
0.30% $10,000 Compare
18 Mo CD
0.30% $100,000 Compare
24 Mo CD
0.30% $10,000 Compare
24 Mo CD
0.30% $100,000 Compare
30 Mo CD
0.30% $10,000 Compare
30 Mo CD
0.30% $100,000 Compare
36 Mo CD
0.50% $10,000 Compare
36 Mo CD
0.50% $100,000 Compare
48 Mo CD
0.70% $10,000 Compare
48 Mo CD
0.70% $100,000 Compare
60 Mo CD
0.80% $10,000 Compare
60 Mo CD
0.80% $100,000 Compare
MM RATES APY MIN
Money Market
0.05% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.15% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $1
Int Ckg
0.05% $2,500

Overview 2025

General Bank Information

FDIC Insured Yes
FDIC Certificate # 15621
Date Established 1938
Assets $ 96.33 million
Loans $ 68.01 million
Deposits $ 86.44 million
Capital $ 7.30 million

Summary Balance Sheet as of December 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 14.53 million
Interest-bearing balances $ 11.51 million
Total securities $ 11.97 million
Federal funds sold and reverse repurchase $ 0.08 million
Net loans and leases $ 68.01 million
Loan loss allowance $ 0.76 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 $ 0.63 million
     Total Assets $ 89.03 million

LIABILITIES
Total deposits $ 86.44 million
      Interest-bearing deposits $ 73.16 million
      Deposits held in domestic offices $ 86.44 million
      % insured (estimated)" 69.02%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1.84 million
Subordinated debt N.A.
All other liabilities $ 0.10 millionn
      Total Liabilities $ 89.03 million
      Shareholders’ Equity $ 7.30 million

Summary Income Statement as of December 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 4.95 million
Total Interest Expense $ 1.75 million
Net interest income $ 3.20 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.18 million
Total non interest expense $ 2.39 million
Pre-tax Net Operating Income $ 0.64 million

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