Banks | Farmers & Merchants Bank

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 - May 3, 2024

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 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 2036
Date Established 1909
Assets $ 916.55 million
Loans $ 526.66 million
Deposits $ 796.20 million
Capital $ 111.86 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 124.65 million
Interest-bearing balances $ 116.75 million
Total securities $ 223.71 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 526.66 million
Loan loss allowance $ 10.44 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.25 million
Goodwill and other intangibles $ 0.54 million
All other assets $ 20.09 million
     Total Assets $ 804.68 million

LIABILITIES
Total deposits $ 796.20 million
      Interest-bearing deposits $ 488.80 million
      Deposits held in domestic offices $ 796.20 million
      % insured (estimated) 69.21%
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 $ 804.68 million
      Shareholders’ Equity $ 111.86 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 49.96 million
Total Interest Expense $ 2.94 million
Net interest income $ 47.02 million
Provision for loan and lease losses N.A.
Total non interest income $ 8.45 million
Total non interest expense $ 26.11 million
Pre-tax Net Operating Income $ 6.26 million

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Branches

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Farmers & Merchants Bank Locations

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