First Farmers & Merchants National Bank
FDIC #5186
📍 Luverne, Minnesota
First Farmers & Merchants National Bank is a commercial bank, national (federal) charter and fed member, supervised by the occ. established in 01/01/1931. With assets of $221.02 Million, it operates 2 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: April 1, 2024
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
April 1, 2024
Satisfactory
November 12, 2019
Satisfactory
September 22, 2014
Satisfactory
💰 Financial Strength
Total Assets$221.02 Million
Total Deposits$181.11 Million
Equity Capital$17.75 Million
Net Income$3.17 Million
📈 Performance
ROA1.88%
ROE22.78%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
Established01/01/1931
FDIC Cert5186
Holding Co215 Holding Co
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredNo
🕰️ Lobby Hours
Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 6:00 PM
Saturday8:00 AM - 12:00 PM
SundayClosed
📜 Institutional History
1998
Name Change
Name became: Changed Institution Name To First Farmers And Merchants National Bank.
1998
Relocation
Moved HQ to: 303 East Main Street, Luverne, MN 56156.
1987
Name Change
Name became: Changed Institution Name To First Bank Luverne (national Association).
1984
Merger / Acquisition
Acquired: First Bank (n.a.) - Pipestone
1984
Name Change
Name became: Changed Institution Name To First National Bank Of Luverne.