Farmers & Merchants State Bank Est. 1904

Accounts

WHAT ACCOUNT IS IN YOUR BEST INTEREST?


When you trust your money to a bank, you want to be sure it's in an account that's right for you.  One that gives you the most for what you need.  That's exactly why Farmers and Merchants State Bank has so many accounts to choose from.  From Regular Checking to a Money Market Savings, you'll find the one account that has your best interest at heart.

 

                        Checking                                                         Savings

                   Regular Checking                                                Regular Savings

                    Now Checking                                         Money Market Savings

                   Student Checking                                            Rainbow Savings

                     Free Checking                                         Christmas Club Savings

                   Set Six Checking                                    

               Super Senior Checking


 

Regular Checking**

 
  • Deposit $300.00 to open
  • Monthly Maintenance Charge - $1.00
  • An additional minimum balance fee of $2.00 plus $.25 per debit transaction will be imposed every statement cycle if the daily balance falls below $300.00 any day of the statement cycle.
  • Does not bear interest

 

Now Checking**

  • Deposit $900.00 to open
  • Monthly Maintenance Charge of $5.00 will be imposed every statement cycle if the daily balance falls below $900.00 any day of the statement cycle.
  • Does bear interest, provided you maintain a minimum daily balance of $900.00 in the account each day, you will obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. 

 

Student Checking

  • Deposit $50.00 to open
  • No Monthly Maintenance Charge
  • Maximum age 22 years. At age 23, you will need to come in and select an account or we will change the account to a Set Six account, which has a $6.00 monthly maintenance charge imposed every statement cycle.
  • Does not bear interest

 

Free Checking**

  • Deposit $50.00 to open
  • No Monthly Maintenance Charge
  • Does not bear interest

 

Set Six Checking**

  • Deposit $50.00 to open
  • Monthly Maintenance Charge - $6.00
  • Does not bear interest

 

Super Senior Checking**

 
  • Deposit $50.00 to open


  • Must maintain a minimum daily balance of $500.00 to obtain the disclosed annual percentage yield

 

  • No Monthly Maintenance Charge

 

  • Minimum age 55 years

 

  • Does bear interest.


  • Free basic check printing

 

  • No fee for preparing Cashier’s Check

 

 

Regular Savings*/**/***

 

  • Deposit $50.00 to open
  • Minimum Balance fee of $3.00 will be imposed every month if the average daily balance for the month falls below $25.00.
  • Variable rate account

 

Money Market Savings*/**/***

 

  • Deposit $50.00 to open

 

  • Minimum Balance fee of $3.00 will be imposed every month if the average daily balance for the month falls below $25.00
  • Tiered variable rate account

 

Rainbow Savings*/***
 
  • Deposit $50.00 to open
  • Maximum age 18 years.  At age 19 you will need to come in and select an account or we will change the account to a Regular Savings. 
  • Variable rate account

 

Christmas Club Savings*/**/***

  • Deposit $5.00 to open.
  • The balance of the account as of September 30th will be mailed to you by November 1st each year

 

  • Variable rate account

 

*Federal regulation limits the number of drafts, telephone transfers, online transfers and preauthorized electronic transfers to third parties.  You are limited to six such transactions each month for purposes of making a payment to a third party or by use of a telephone or computer.

**A dormant account fee of $5.00 per month will be charged after 24 months of inactivity unless your average daily balance for the month is greater than $50.00.

***All savings accounts may have a $30.00 fee for a return of an ACH item.