About Farmers & Merchants State Bank (2024)

FAQs

What are CD rates at F&M bank? ›

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.

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 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.

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%). You can see the full list of the highest-paying CDs here.

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

*APY - Annual Percentage Yields are effective as of July 23, 2024. At maturity, the 11 month CD will automatically renew as a 12 month CD. The 17 month CD will automatically renew as a 18 month CD.

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.

Central Bancshares Inc., a community bank holding company based in Muscatine, announced that it has merged two of its subsidiaries, Galesburg, Ill. -based F&M Bank and Muscatine-based CBI Bank & Trust.

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.

You can send, request, or receive money with Zelle®. To get started, log into The Farmers & Merchants Bank's mobile app.

Does Farmers and Merchants Bank use ChexSystems? ›

CREDIT VERIFICATION

For example, new Page 8 Farmers & Merchants Bank 7 accounts are subject to verification through ChexSystems® (the “Reporting Agency”) and may be declined based in whole or in part on information obtained in a report from the Reporting Agency.

Merchants Bank is merging with SouthPoint Bank, but it's the advantages to customers that got huge. Two of the top community banks in the state combining forces to create one stronger $1 billion asset bank has a lot of banking advantages.

With the F&M Bank & Trust Visa Credit Card you will receive a LOW RATE, CASH BACK or REWARDS. It's your choice. Apply now for a Visa Classic, Visa Platinum, or MasterCard Gold. Each card includes the convenience, reliability, and flexibility you expect from F&M Bank & Trust.

The Founding of Farmers Bank

Farmers Bank was established in 1908 with a small amount of capital stock but lots of vision. The original building was opened in Blytheville, Arkansas, on the corner of Main and Second Street.

Our mission is to be a profitable and sound community bank, perceived as the best in our market area through the eyes of our customers, community, employees, and shareholders.

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%.

Rates are expected to drop, so locking in the highest rate for as long as possible may be your best bet to maximize returns. However, you may not feel comfortable locking away your money for years on end. If that's the case, you may want to consider a CD ladder.

Yes, you may be able to negotiate rates on jumbo CDs depending on how much you deposit, the term and the financial institution offering the CD. It doesn't hurt to attempt to negotiate a better interest rate for your jumbo CD. The more money you plan to deposit, the better your chances of getting a better rate.

And when the Fed raises its target rate, banks typically follow suit and increase their interest rates—including those on CDs. That's because when the Fed's target rate goes up, the cost of borrowing from other banks increases.