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Farmers & Merchants Bank


Farmers & Merchants Bank is an FDIC insured institution headquartered at 138 N Salisbury Gq Ave, Granite Quarry, NC 28146.
It was founded in 1909 and has approximately $1 billion in assets. Customers can open an account at one of its 11 branches.

Deposit Rates - April 25, 2025

SAVINGS RATES APY MIN
Savings
0.05% $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
0.30% $10,000 Compare
30 Mo CD
0.30% $100,000 Compare
48 Mo CD
0.50% $10,000 Compare
48 Mo CD
0.50% $100,000 Compare
MM RATES APY MIN
Money Market
0.05% $2,500 Compare
Money Market
0.05% $10,000 Compare
Money Market
0.10% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.01% $1
Int Ckg
0.01% $2,500

Overview 2025

General Bank Information

FDIC Insured Yes
FDIC Certificate # 2036
Date Established 1909
Assets $ 894.12 million
Loans $ 521.58 million
Deposits $ 757.29 million
Capital $ 125.40 million

Summary Balance Sheet as of December 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 117.33 million
Interest-bearing balances $ 110.03 million
Total securities $ 212.49 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 521.58 million
Loan loss allowance $ 10.51 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.25 million
Goodwill and other intangibles $ 0.45 million
All other assets $ 20.09 million
     Total Assets $ 768.73 million

LIABILITIES
Total deposits $ 757.29 million
      Interest-bearing deposits $ 502.77 million
      Deposits held in domestic offices $ 757.29 million
      % insured (estimated)" 76.22%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 6.39 millionn
      Total Liabilities $ 768.73 million
      Shareholders’ Equity $ 125.40 million

Summary Income Statement as of December 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 50.64 million
Total Interest Expense $ 5.24 million
Net interest income $ 45.40 million
Provision for loan and lease losses N.A.
Total non interest income $ 8.69 million
Total non interest expense $ 26.92 million
Pre-tax Net Operating Income $ 6.26 million

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