Featured Savings Rates
Featured Accounts

Farmers State Bank

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.57%18-month CD15 Month CD Special
1.80%2-year CD29 Month CD Special
3.05%Reward CheckingFSB Loyalty Checking

Overview / Commentary
319-287-3961
131 Tower Park Drive Suite 100
Waterloo, IA 50701

Farmers State Bank is headquartered in Waterloo and is the 22nd largest bank in the state of Iowa. It is also the 986th largest bank in the nation. It was established in 1903 and as of March of 2016, it had grown to 103 employees at 10 locations. Farmers State Bank's money market rates are 2X the national average, and it has an A health rating.

Related Posts

Farmers State Bank (IA) Adds Two New CD Specials - 4/29/2016

Farmers State Bank (Iowa) has added two CD Specials: 15-month (1.57% APY), and 29-month (2.00% APY). Minimum deposit for either CD is $2.5k, with no balance cap.

Farmers State Bank (IA) Ends 2015 With 3 CD Specials - 12/30/2015

Farmers State Bank (IA) has added 3 CD Specials: 15-month (1.36% APY), 25-month (1.75% APY), and 60-67 month (2.27% APY). Minimum deposit is $2.5K, with no balance cap.

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Reviews (5)

Must Live Within A 70 Mile Radius

Called 5/24/2016 and was told you had to live in a 70 mile radius of the bank in order to qualify to open an account although the website makes no mention of this!!!!

Potential Customer Beware!

Looks can be deceiving!  Potential Customer Beware.   I moved to Farmers State Bank because of their ads and promises.  They stated they offer personal customer care and they would be willing to see a person for who they are not the money they are worth.  For the first year it was ok…..when it came to asking for a loan they said “no”.  Then advised me to get there credit card….which I did.  I lost my job and ended up moved away and was looking at foreclosure on my home.  Did they care no? 

I asked them to reduce my interest on the $3k, they said “no”, I asked them to make my payments smaller they said “no”.  I then advised “if they are not going to work with me to pay off this debt it will have to go to bad debt and then collections because I could not make their required payments.”

Now here is where their true colors shine; and why they are a terrible institution to do business with.  They knew I lived two states away and was having trouble getting back on our feet again.  They took my credit card debt to court to gain their money back.  Now they knew my new address but they did not tell the courts.  So by the time I got my paper work it was a week from the court date.  I could not take time off after receiving a new job or pay for the cost to travel back to Iowa.  I also did not have the money to hire an attorney.  So they got me in a rock and a hard place. 

So I had to sign their forms to stop the judgment from happening. (Barbara from their credit card department)  Well they lied and they did not stop the judgment from happening even after agreeing to their terms of $200/month PLUS INTEREST.  She was also not going to charge me for the court cost and now they are on my credit card statement.

But it does not end there either……if my checking account with them did not have the $200 in the account they would charge me $25 return transaction fee on my credit card statement.  Get another $30 from my checking account and charge me a late fee.  But when their full $200 is there they take it out the same day.  The credit card department and banking are suppose to be to separate businesses…..but somehow they conveniently now when money hits my account….you judge for yourself.  I just realized this was happening after going over some statements and I called them (Barb) on it.  She must think her words of “we have a court order” scares me.  What they are doing is unethical and wrong.  Take advantage of the ones who won’t put up a fight.

Well what more can they do to me?  I’m almost done paying back and can’t wait to close my accounts but before I do I want to tell the real story about how Farmers State Bank does business.  So potential customer beware!  Would you want to be in business with Farmers State Bank if an unforeseen life event happens to you?  They are only out to get your money and don’t care about the average hard working individual.

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.

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....

Only For Residents Of Blackhawk And Buchanan Counties

Posted by: crompot | Aug 22, 2010

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.



Health
A

Health Grade Components

Overall
FDIC Certificate #12855
Year Established1903
Employees103
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.58%
Return on Equity - YTD20%
Annual Interest Income$7.5MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$731.1MM$626.6MM
LoansQ1 2016vs Q1 2015$607.9MM$523.3MM
DepositsQ1 2016vs Q1 2015$625.4MM$540.4MM
Equity CapitalQ1 2016vs Q1 2015$57.6MM$50.8MM
Loan Loss AllowanceQ1 2016vs Q1 2015$6.6MM$5.1MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$195.00K$949.00K
Real Estate OwnedQ1 2016vs Q1 2015$385.00K$1.1MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Farmers State Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Farmers State Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$5kSmart Start Savings Account
OTHER TIERS: 0.50% $10k+ | 1.00% $5k - $10k
1.00%*-$5kKids Count Savings
OTHER TIERS: 0.25% $10k+ | 0.50% $5k - $10k
1.00%*$15k*-FSB Health Savings Account
OTHER TIERS: 0.05% Up to $1k | 0.25% $1k - $5k | 0.75% $5k - $15k
0.50%$100-Business Earnings Rate
0.10%$300-Savings Account

Farmers State Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.02%$10k-FSB Elite MMDA Account
0.35%$1k-FSB Brokerage MMDA

Farmers State Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%*-$20kFSB Loyalty Checking
OTHER TIERS: 0.15% $20k+
0.15%*$100k*-FSB Gold NOW Checking Account
OTHER TIERS: 0.05% $2k - $25k | 0.07% $25k - $100k

Farmers State Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$2,500-29 Month CD Special
1.57%$2,500-15 Month CD Special
0.95%$2,500-5 Year CD
0.61%$2,500-3 Year CD
0.51%$2,500-2 Year CD
0.41%$5k-1 Year CD
0.31%$5k-9 Month CD
0.28%$5k-6 Month CD
0.22%$5k-91 Day CD

Farmers State Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$2,500-IRA Fixed 2 Year CD
Locations


Farmers State Bank Locations
Farmers State Bank131 Tower Park DriveWaterloo, IA 50701
Farmers State Bank, Gilbertville1306 5th StreetGilbertville, IA 50634
Jesup Branch1310 6th StreetJesup, IA 50648
Cedar Falls Branch1710 1st Street, Suite ACedar Falls, IA 50613
Farmers State Bank224 West 6th StreetWaterloo, IA 50701
Farmers State Bank, LA Porte City508 Hwy 218 NLA Porte City, IA 50651
Downtown Cedar Falls515 Main StreetCedar Falls, IA 50613
Dunkerton Branch905 Jon RoadDunkerton, IA 50626
Waverly Branch2101 4th Street SwWaverly, IA 50677
Farmers State Bank Independence, Ia2002 Enterprise CtIndependence, IA 50644