Farmers And Merchants Bank Broadway Va (2024)

FAQs

What are CD rates at F&M bank? ›

FDIC Insurance - Coverage Up to $250 K.

Founded in the quaint town of Bumpus Mills, Tennessee, in 1906, F&M Bank was originally known as Farmers & Merchants Bank. This name laid the foundation for a legacy that, despite its initial appearance, would prosper into a dynamic and respected institution.

F&M Bank, headquartered in Lodi, California, is a locally owned and operated full-service community bank with more than $5.3 billion in assets. We proudly serve California's great communities with more than 32 convenient locations.

The highest certificates of deposit (CDs) rates today are offered by Merchants Bank of Indiana (5.92%), First Federal of Lakewood (5.61%), Maries County Bank (5.51%) and Shoreham Bank (5.50%).

On January 13, 2023, Farmers Bank became a Division of TowneBank, and the two banks became a single deposit institution under the FDIC.

Minimum to open a Loyalty Rewards Checking account is $50. There is no minimum balance requirement to earn interest or receive ATM fee refunds.

It's easy — Zelle^® is already available within F&M Online and Mobile Banking in the “Transactions” section. Check out our app or sign-in to F&M Online Banking and follow a few simple steps to enroll in Zelle^® today.

F&M Bank has grown slowly and safely since 1907, earning its reputation as “California's Strongest.” At a time when the instability of the market caused great unease among investors, founder C.J. Walker solidified the credibility of the family name by reassuring frightened depositors that their money was safe.

Is Farmers and Merchant bank a local bank? ›

F&M Bank only has locations in SoCal. If you are out-of-state and want to inquire, call us at 866-437-0011.

The Company's expense efficiency ratio decreased to 45.31% from 46.84% in 2022 as growth in revenues outpaced the increase in operating expenses. Total assets were steady at $5.3 billion as of December 31, 2023 compared to December 31, 2022.

Founded in 1916, F&M Bank is a locally owned and operated community bank, which proudly serves California through 32 convenient locations. F&M Bank is financially strong, with over $5.7 billion in assets, and is consistently recognized as one of the nation's safest banks by national bank rating firms.

The Farmers and Merchants Bank was the first incorporated bank in Los Angeles, founded in 1871 by Isaias W. Hellman, a successful merchant, real estate speculator, and banker, and brother of Hermann W. Hellman.

For more than 100 years, Farmers & Merchants Bank has held fast to the core values of Honesty, Integrity, the Home, the Church, and Service Above Self.

Pick a CD term that works for you and earn 4.25% APY!*

*APY - Annual Percentage Yields are effective as of July 23, 2024.

Interest will be paid on your daily account balance as follows: If your daily balance is $99,999.99 or less, the interest rate paid on the entire balance will be 1.73% with an APY of 1.75%. If your daily balance is $100,000.00-$249,999.99, the interest rate paid on the entire balance will be 2.00% with an APY of 2.02%.

Currently, national average rates for a 1-year CD sit at 1.86% APY, up from 0.15% APY in April 2022. But with no change to rates since December 2023, it doesn't appear rates will continue to go up, at least significantly.