1 star ratingAverage User Rating:
1 star rating based on 3 reviews.

Farmers State Bank

Farmers State Bank Locations
1710 1st St. Ste A
Cedar Falls, IA 50613-1840
(319) 268-1879
www.fsb1879.com

Farmers State Bank is headquartered in Waterloo and is the 35th largest bank in the state of Iowa. It is also the 1,806th largest bank in the nation. It was established in 1903 and as of September of 2011, it had grown to 68 employees at 7 locations. Farmers State Bank's money market rates are 14% higher than the national average, and it boasts a 5-star health rating.

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5.01% Reward Checking Account at Farmers State Bank in Iowa - Local Only - 9/10/2009

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2.02% 8-Month CD & 3.57% 55-Month CD at Farmers State Bank in Iowa - Local Only - 8/3/2009

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5.77% 7-Month CD at a Colorado Bank (Farmers State) - 4/26/2007

Farmers State Bank is offering a special 5.77% APY 7-month certificate of deposit. The minimum deposit is $1,000. Branches are located in the Colorado cities of Calhan and Falcon which are just east of Colorado Springs. The bank is FDIC insured...



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See Rates for: Checking | Savings | Money Market | CD | IRA

Farmers State Bank Checking Account Rates

ApyMinMaxProduct
2.00%-$25kFSB Loyalty Checking
0.25%$100k-FSB Platinum NOW Checking Account

Farmers State Bank Savings Account Rates

ApyMinMaxProduct
0.50%$100-Business Earnings Rate
0.10%$50-Savings Account

Farmers State Bank Money Market Rates

ApyMinMaxProduct
0.50%$300k-FSB MMDA Account
0.50%--FSB Brokerage MMDA

Farmers State Bank CD Rates

ApyMinMaxProduct
2.04%$1k-60-67 Month CD Special
1.60%$1k-36 Month Bump Up CD Special
1.50%$1k-24 Month Loyalty CD Special
1.24%$1k-5 Year CD
1.02%$2k-18 Month CD Special
1.00%$1k-4 Year CD
0.75%$1k-3 Year CD
0.65%$1k-2 Year CD
0.44%$1k-1 Year CD
0.31%$1k-9 Month CD
0.28%$1k-6 Month CD
0.22%$1k-91 Day CD

Farmers State Bank IRA Rates

ApyMinMaxProduct
1.50%$100-IRA Fixed 2 Year
1.50%$100-Roth IRA Fixed 2 Year
0.80%$100-IRA Variable 1 Year
0.80%$100-Roth IRA Variable 1 Year

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Farmers State Bank
FDIC Certificate #12855
BankRate ReportView
Year Established1903
Employees68
Primary RegulatorFDIC

Assets and Liabilities

Assets$365.93 million
Loans$267.23 million
Deposits$314.17 million
Equity Capital$29.11 million
Loan Loss Allowance$3.26 million
Unbacked Noncurrent Loans$1.10 million
Real Estate Owned$1.04 million

Historic Data - September 2010

Assets$301.93 million
Equity Capital$23.58 million
Loan Loss Allowance$2.50 million
Unbacked Noncurrent Loans$25,000
Real Estate Owned$2.22 million

Profit Margin - Quarterly

Net Interest Margin4.42%
Return on Assets1.45%
Return on Equity19.24%
Interest Income$13.47 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Farmers State Bank had $2.14 million in non-current loans and owned real-estate with $32.37 million in equity and loan loss allowances on hand to cover it. This gives Farmers State Bank a Texas Ratio of 6.60% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Farmers State Bank held steady from 7.46% as of September 30, 2010 to 6.60% as of September 30, 2011, resulting in a positive change of 11.52%.This indicates that the balance sheet and financial strength for Farmers State Bank has held steady in recent periods.
Deposit Growth5
In the past year, Farmers State Bank has increased its total deposits by $48.56 million, resulting in 18.28% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Farmers State Bank has shown is excellent.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Farmers State Bank has $365.93 million in assets with $32.37 million in equity, resulting in a capitalization level of 8.85%, which is average.
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Stay Away From This Bank.
1 stars - villagegeek - Wednesday, July 28, 2010 - 12:56 PM

We opened accounts and less than a week later they changed account types. They knew ahead of time but opened the accounts anyway. Now we are out all the $$ for our new checks much less the almost 1.5 hours it took to get each of the accounts set up. They have a nice small town feel but no morals. They will lie right to your face.

4

Must Live Within 50 Miles Of A Branch To Qualify
1 stars - plzdontspamme - Thursday, August 5, 2010 - 4:32 PM

We live in Iowa and applied for an account, but were turned down because we lived more than 50 miles from the nearest branch.  It currently doesn't say this on their web site, so be warned....

3

Only For Residents Of Blackhawk And Buchanan Counties
1 stars - crompot - Sunday, August 22, 2010 - 9:29 AM

Although their website makes no mention of it, I found out the hard way that effective 8/1/10 FSB's Loyalty Checking account is restricted to residents of Blackhawk and Buchanan counties.  I learned this after wasting an hour of my life.  Unbelieavably, this bank did not grandfather in existing account holders living outside these two counties but instead converted those people's accounts to regular checking accounts.

1
 
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