Farmers & Merchants State Bank

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1-800-325-3678.

Products - Personal Products

	Personal Checking Accounts		Personal Savings Accounts
	Certificates of Deposit		IRA's
	Credit Card

Farmers & Merchants State Bank offers many different deposit accounts to meet your needs!

PERSONAL CHECKING ACCOUNTS

Personal Checking

$100.00 minimum deposit to open
Minimum Balance: $500.00 Average to avoid fees.
No Transaction Limitations

Maintenance Fees: $4.00* monthly if average daily balance falls below $500.00***. (A debit fee of $.20* will be charged for each debit transaction** This fee will apply if the average daily balance falls below $500.00 for the monthly statement cycle). Maintenance and Debit fees will not apply to:

Individuals age 62 and older
Children age 18 and younger
Students age 21 and younger
Conservatorship for individuals age 62 and older or individuals under age 18, estate accounts, trust accounts and non-profit accounts

Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months

Select F & M Checking

$100.00 minimum deposit to open
No Minimum Balance
No Transaction Limitations
Includes free basic wallet style checks

Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months

Maintenance Fees: $10.00* monthly

F & M Advantage Checking

$100.00 minimum deposit to open
No Minimum Balance
No Maintenance Fees
Transaction Limitations: Check and deposit slip images are not returned with the statement.

Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months

Now Account Checking

$100.00 minimum deposit to open
Minimum Balance: $1,000.00 Average to avoid fees.
No Transaction Limitations

Maintenance Fees: $8.00* monthly if average daily balance falls below $1,000.00.*** (A debit fee of $.20* will be charged for each debit transaction**. This fee will apply if average daily balance falls below $1,000.00 for the monthly statement cycle). Maintenance and Debit Fees will not apply to:

Estate Accounts
Trust Accounts
Non-Profit Accounts

Rate Information: At our discretion, interest rates and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate tiers: Under $2,500; $2,500+.
See interest rates.

Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months

PERSONAL SAVINGS ACCOUNTS

Savings Account

$100.00 minimum deposit to open
Minimum Balance:
- $100 average to avoid maintenance fees
- $500 average to avoid debit fees

Transaction Limitations: Transfers from savings to another account or third parties****, are limited to 6 per statement cycle.

Maintenance fees: $5.00 monthly if average daily balance falls below $100. *** (A debit fee of $1.00 will be charges for each debit transaction ** in excess of 6 per month if average daily balance falls below $500.00). Maintenance and Debit Fees will not apply to:

Individuals age 62 and older
Children age 18 and younger
Students age 21 and younger
Conservatorship for individuals age 62 and older or individuals under age 18, estate, trust accounts and non-profit accounts

Rate Information: At our discretion, interest rates and annual percentage yields may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate tiers: Under $2,500; and $2,500+. See interest rates.

Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months. Exception: There is NO dormant fee for Money Tree and Junior Savings Accounts.

Money Market Savings Account

$100.00 minimum deposit to open
Minimum Balance: $1,000.00 average to avoid fees.

Transaction Limitations: Transfers from savings to another account or third parties**** are limited to 6 per statement cycle.

Maintenance Fees: $10.00 monthly if average daily balance falls below $1,000.00.*** (A debit fee of $5.00 will be charged for each debit transaction** in excess of 6 during a monthly statement cycle regardless of balance maintained).

Christmas Club

Just $10.00 to open account
No Minimum Balance or Maintenance Fees Transaction Limitation: $10.00 per month minimum deposit

Rate Information: At our discretion, interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest Rate Tiers: Under $2,500; $2,500+

Burial Trust Savings Account

Amount to open account is according to the terms of the Trust Agreement.
No Minimum Balance
No Maintenance Fees

Transaction Limitations: Deposit is irrevocable and not subject to withdrawal or control by the depositor. Upon the death of the depositor, the amount in the account shall be paid to the funeral home who performs and furnishes the funeral services and is entitled to receive the same. The depositor shall have the right to designate the funeral home to perform such services.

Money Tree Savings Account Click here for more information. Click here for interest rates.

*This fee is subject to Iowa State sales tax. **Debit transaction means, withdrawal, check paid, automatic transfer or payment out of this account. ***The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. **** Transfers to third parties by preauthorized, automatic, telephone transfer, check, draft, debit card, or similar order to third parties.

CERTIFICATES OF DEPOSIT

Farmers & Merchants State Bank Time Certificates

Invest with a sound, secure area market leader….tiered rates, several term choices….special rates for Heritage Club and Money Tree members. See interest rates. See a Customer Service Representative for special balance and terms information or contact one of our CSR’s at b.mcvay@fmsbiowa.com or p.kerr@fmsbiowa.com or K.lee@fmsbiowa.com

IRA’s

What’s the Difference Between a Traditional IRA and a Roth IRA?

Traditional IRA – The traditional IRA is an account that allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.

Roth IRA – The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period.

What is a Coverdell Education Savings Account? The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose – a child’s education expenses.

See any of our Customer Service Representatives. We will explain the nature of these accounts in more detail and help you complete the necessary forms to establish your traditional and/or Roth IRA or a CESA (Coverdell Education Savings Account) for a child.

See interest rates.

VISA Platinum Rewards Credit Card

No annual fee
Earn points toward millions of rewards- including vacation packages, airline tickets, event tickets, merchandise, gift cards, cash & more!
Low variable APR
Online credit card access
Complimentary year end report
Free additional cards for family members
Travel assistance services
Travel accident insurance
Zero liability protection
Auto rental insurance
Accepted worldwide

Pick up an application at any of our offices or call 1-800-821-5184 today!