Farmers State Bank is headquartered in Waterloo and is the 17th largest bank in the state of Iowa. It is also the 743rd largest bank in the nation. It was established in 1903 and as of June of 2020, it had grown to 119 employees at 11 locations. Farmers State Bank has an A+ health rating.
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Review For Service Received
I stopped in the Independence FSB branch today to make a deposit. The clerk was very friendly and processed my transaction quickly. I really appreciate the service I receive from them.
Must Live Within 50 Miles Of A Branch To Qualify
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....
Stay Away From This Bank.
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.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 12855 |
| Year Established | 1903 |
| Employees | 119 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.5% |
| Return on Equity - YTD | 16.1% |
| Annual Interest Income | $25.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $1.25B$1.10B |
| Loans | Q2 2020vs Q2 2019 | $1.06B$918.4MM |
| Deposits | Q2 2020vs Q2 2019 | $1.02B$912.0MM |
| Equity Capital | Q2 2020vs Q2 2019 | $116.9MM$99.7MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $11.1MM$9.6MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $33.00K$0 |
| Real Estate Owned | Q2 2020vs Q2 2019 | $493.00K$235.00K |
