Farmers & Merchants Bank in Granite Quarry, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Farmers & Merchants Bank in Granite Quarry, North Carolina (NC)
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Farmers & Merchants Bank - Overview

  • General
  • FDIC Certificate #: 2036
    Status: Active
    Federal Reserve ID: 348720
    Bank Holding Company (Regulatory Top Holder): F & M Financial Corporation (RSSDID: 1076619, Location: Granite Quarry, NC)
    Date Established: January 01, 1909
    WWW: http://www.fmbnc.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 11 (Domestic: 11, Interstate: No)
    OTS Docket #: 10327
    FDIC's unique #: 1350
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: May 27, 2010
    Last Structure Change Process Date: May 27, 2010
    Last Data Update: May 27, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 138 North Salisbury Avenue, Granite Quarry, NC 28072
    County: Rowan
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Charlotte
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Charlotte-Gastonia-Rock Hill, NC-SC (#1520)
    Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
    Core Based Statistical Area (CBSA): Salisbury, NC (#41580)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $570.2 mil
    Equity capital: $74.5 mil
    Deposits held in domestic offices: $434.7 mil
    Return on assets (ROA): 0.34% ($1.9 mil)
    Quarterly return on assets: 0.36% ($2.1 mil)
    Return on Equity (ROE): 2.76% ($2.0 mil)
    Quarterly return on equity: 2.81% ($2.1 mil)
    Net income: $2.1 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.54% ($3,079.0 mil)
    Quarterly Pretax return on assets: 0.55% ($3,136.0 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 121Total employees (full-time equivalent)
  • $570,187Total assets
  • $62,085Cash and due from depository institutions
  • $57,178Interest-bearing balances
  • $22,344Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $443,906Net loans & leases
  • $10,525Loan loss allowance
  • $0Trading account assets
  • $18,923Bank premises and fixed assets
  • $5,750Other real estate owned
  • $1,000Goodwill and other intangibles
  • $570,187Life insurance assets
  • $16,179All other assets
  • $495,700Total liabilities and capital
  • $434,693Total liabilities
  • $356,133Total deposits
  • $434,693Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 9529.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $47,000Trading liabilities
  • $0Other borrowed funds
  • $4,478Subordinated debt
  • $74,487All other liabilities
  • $74,487Total equity capital
  • $74,487Total bank equity capital
  • $0Perpetual preferred stock
  • $698Common stock
  • $21,245Surplus
  • $52,544Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $493Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $36,765Income earned, not collected on loans
  • $0Earning assets
  • $2,002Long-term assets (5+ years)
  • $523,428Average Assets, year-to-date
  • $92,114Average Assets, quarterly
  • $610,512Volatile liabilities
  • $580,689Insider loans
  • $436,319FHLB advances
  • $580,315Loans and leases held for sale
  • $1,936Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $73,955Tier 2 risk-based capital
  • $1,936Total risk weighted assets
  • $0Total unused commitments
  • $106,811Restructured Loans and leases
  • $4,117Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $26,989Total interest income
  • $3,753Total interest expense
  • $23,236Net interest income
  • $8,500Provision for loan and lease losses
  • $6,300Total noninterest income
  • $0Fiduciary activities
  • $2,660Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,640Additional noninterest income
  • $17,754Total noninterest expense
  • $9,258Salaries and employee benefits
  • $2,344Premises and equipment expense
  • $6,152Additional noninterest expense
  • $3,282Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,229Applicable income taxes
  • $2,053Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,053Net income attributable to bank
  • $0Net charge-offs
  • $2,053Cash dividends
  • $8,928Sale, conversion, retirement of capital stock, net
  • $1,841Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.81%Yield on earning assets
  • 0.67%Cost of funding earning assets
  • 4.14%Net interest margin
  • 1.12%Noninterest income to earning assets
  • 3.16%Noninterest expense to earning assets
  • 0.34%Net operating income to assets
  • 0.34%Return on assets (ROA)
  • 0.54%Pretax return on assets
  • 2.76%Return on equity (ROE)
  • 0.29%Retained earnings to average equity (YTD only)
  • 1.84%Net charge-offs to loans
  • 95.21%Credit loss provision to net charge-offs
  • 1.32%Efficiency ratio
  • 60,110Assets per employee
  • 4.71%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 89.67%Loss allowance to loans
  • 2.32%Loss allowance to noncurrent loans
  • 28.63%Noncurrent assets plus other real estate owned to assets
  • 7.46%Noncurrent loans to loans
  • 8.09%Net loans and leases to deposits
  • 102.12%Net loans and leases to core deposits
  • 114.02%Equity capital to assets
  • 13.06%Core capital (leverage) ratio
  • 12.74%Tier 1 risk-based capital ratio
  • 16.95%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $610,512Average earning assets
  • $74,254Average equity
  • $561,005Average loans

List of branches

  • 11 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    01350Farmers & Merchants Bank138 North Salisbury Avenue, Granite Quarry, NC 28072January 01, 1909Full Service Brick and Mortar
    1190789Faith Teller's Window BranchMain Street, Faith, NC 28041Febuary 04, 1970Full Service Brick and Mortar
    2190790Rockwell BranchMain Street, Rockwell, NC 28138August 13, 1970Full Service Brick and Mortar
    3190791West Salisbury BranchHighway 601 Bypass And Maupin Avenue, Salisbury, NC 28144May 21, 1973Full Service Brick and Mortar
    4190792China Grove Branch116 North Main Street, China Grove, NC 28023October 29, 1975Full Service Brick and Mortar
    5190793North Main Street Branch420 North Main Street, Salisbury, NC 28144November 07, 1983Full Service Brick and Mortar
    6190794Statesville Boulevard Express Branch221 Statesville Boulevard, Salisbury, NC 28144June 19, 1996Full Service Brick and Mortar
    8190795Avalon Drive Branch102 Avalon Drive, Salisbury, NC 28146July 24, 1997Full Service Brick and Mortar
    10440143Kannapolis Branch2975 Dale Earnhardt Boulevard, Kannapolis, NC 28083August 17, 2004Full Service Brick and Mortar
    11441830Trinity Oaks Retirement Community Br728 Klumac Road, Salisbury, NC 28144May 25, 2005Full Service Brick and Mortar
    12445536Church Street Branch635 North Church Street, Concord, NC 28025October 18, 2005Full Service Brick and Mortar

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