Savings Accounts

Farmers and Merchants Bank offers a number of ways to profitably accumulate funds with the safety and peace of mind of FDIC insurance.  Moreover, you have the freedom to choose whichever savings account works best for you.  With $ 250,000.00 of FDIC depositors insurance, now is a great time to consider opening a Farmers and Merchants Bank savings account.

Statement Savings - Accounts

We offer a Statement Savings account paying a competitive rate of interest. You will not be assessed any service charges with this account.

Other Business Savings Services

Our insured Money Market accounts are available to our commercial customers providing tiered high yield interest with a minimum deposit of $1,000. We also offer a Commercial Jumbo Money Market account with a minimum deposit of $100,000, which pays an even higher rate of interest. Several interest rate tiers apply to money market accounts and the Annual Percentage Yield (A.P.Y.) is subject to change at any time. During any calendar month, you may not make more than six (6) withdrawals, or transfers, to another account of yours or to a third party by means of a preauthorized or automatic transfer, telephone order or instruction, check, draft, debit card, or similar order. A monthly statement is provided for your convenience. Please inquire at any branch location for additional account details.

We offer a wide-range of Certificate of Deposit account terms, with a low minimum deposit requirement of $500.00. Interest is paid monthly, quarterly or at maturity and can be automatically credited to your account, or you can choose to have your interest check mailed to you. Certificates of Deposit renew automatically and the Annual Percentage Yield (A.P.Y.) is subject to change at maturity. A penalty may be imposed for early withdrawal, and fees could reduce earnings on the account. On deposits of $50,000 or more, we offer a variety of maturity terms with special rates. CD's are available from a 3-month to a 60-month term. We also offer specials on a periodic basis. To view our most current rate sheet, for Savings accounts, Money Market accounts, Certificates of Deposit, and Individual Retirement Accounts (IRA), click on the Farmers and Merchants Bank rate sheet link.

Any employer, regardless of size, or whether or not they are incorporated, can contribute to an HSA for their employees as long as the employees are covered by a high deductible health plan (HDHP). Employer contributions are excluded from the income of the employee (i.e., they are tax-free to the employee). Employer contributions are not subject to federal income taxes, Social Security (FICA) taxes, or unemployment (FUTA) taxes. Generally, employers take a federal income tax deduction on the business income tax return for the year of HSA contributions for employees, because such contributions are considered medical expenses. Please consult your tax advisor for the impact on your business tax situation. If you are interested in opening an HSA account with Farmers and Merchants Bank, please stop in to one of our branches and ask to speak with a Customer Service Specialist.

Retirement Plans

Start investing in your future and the future of your valued employees by opening, and contributing to, a Farmers and Merchants Bank retirement plan for your business. The FDIC insures your savings, and several account type options are available to you at Farmers and Merchants Bank.


(Savings Incentive Match Plans for Employees) - a SIMPLE IRA Plan is an employer-sponsored retirement plan for small businesses. A SIMPLE IRA plan is not a qualified plan, thus it is not subject to the nondiscrimination rules generally applicable to qualified plans. Employers who employ 100 or less employees, who received at least $5,000 of compensation from the employer in the prior calendar year, are eligible to open a SIMPLE plan. For more information on this type of retirement plan, please contact one of our Customer Service Specialists. Please consult with your tax advisor for eligibility.

SEP Plan

(Simplified Employee Pension) - A simplified employee pension (SEP) plan is a business retirement plan which uses IRAs as the investment vehicle. The employer places money into its employees’ IRAs. The employer gets an immediate tax benefit, and the contribution is not income to the employee until distributed from the IRA. The plan must be operated, and administered, in a manner that does not discriminate in favor of highly compensated employees. An employer, such as a sole proprietor, partnership, and corporation including Subchapter S corporations, may establish a SEP. A self-employed individual is both an employer and an employee. A SEP may be established even if the owner is the only eligible employee participating. A SEP may be established for either a full or a part-time business. For more information on this type of retirement plan, please contact one of our Customer Service Specialists. Please consult with your tax advisor for eligibility.
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