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About F&M Bank


History
Mission Statement
Statement of Condition

History

Founded by Mr. N. E. Kelley and operating under a charter dated May 2, 1934, the Farmers & Merchants National Bank opened its doors on May 4, 1934 on the Northwest corner of the Winterset square. On July 9, 1938, a new charter was issued and the name was changed to Farmers & Merchants State Bank.

The former First State Bank of Adair County located in Orient, Iowa was acquired on August 10, 1938. Also acquired on that date was the J. F. Johnston bank of St. Charles, Iowa.

On April 28, 1980, Farmers & Merchants Motor Bank was opened for business. The Farmers & Merchants Bancorp was formed in 1984 and became the controlling stockholder.

Serving the financial needs of our customers has been our business since 1934. We will continue to provide excellent customer service to meet the financial needs of the people living in the communities we serve.

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Our Mission Statement…….

Contribute to the honesty, integrity, stewardship and sense of trust in our community.
Serve the financial needs of the people living in and around our offices in Orient, St. Charles, and Winterset, Iowa in an honest and profitable way.
Provide a fair return to our shareholders who have invested in our community-owned and operated bank.

 

STATEMENT OF CONDITION
At the close of business December 31, 2006

ASSETS  
Cash & Due $4,013,851
U.S. Government Securities $4,467,148
U.S. Government Agency Securities $11,588,327
Municipal Bonds $17,546,315
Federal Home Loan Bank Stock $226,200
Loans $89,099,713
Federal Funds Sold $0
Bank Building and Equipment, Furniture, & Fixtures $1,683,791
Other Assets $2,946,760
   
TOTAL ASSETS $131,572,105
 

LIABILITIES & CAPITAL

Deposits:    
              Demand $33,232,666  
              Savings $74,161,238  
  Total Deposits $107,393,904
Capital Stock $334,375
Surplus $2,100,000
Undivided Profits $9,733,085
Reserves $1,103,584
Other Liabilities $10,907,157
   
TOTAL LIABILITIES & CAPITAL $131,572,105

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