Farmers and Merchants Bank savings, CD and money market rates
Farmers and Merchants Bank's Savings Account advertises 0.05% APY. That is 0.33 percentage points below the national savings average of 0.38% (FDIC, Oct 2026).
Ranked #2669 of 3121 tracked savings rates by advertised APY. For a $10,000 balance it would rank #2531.
Estimate your earnings·What Farmers and Merchants Bank actually pays
Farmers and Merchants Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 0.05% · Savings Account |
| Minimum to open | $25 · Savings Account |
| Against the national average | 0.33 percentage points below the 0.38% FDIC savings average (Oct 2026) |
| CDs | |
| Top CD APY | 4.10% · 7 months · 7-Month CD Special |
| Minimum to open | $500 · 7 months CD |
| Against the national average | 2.71 percentage points above the 1.39% FDIC 6-month CD average (Oct 2026) |
| Money market | |
| Top money market APY | 3.00% · Local Advantage Money Market · needs at least $500,000 |
| Minimum to open | $100,000 · Local Advantage Money Market |
| Against the national average | 2.37 percentage points above the 0.63% FDIC money market average (Oct 2026) |
| FDIC certificate | 1895 · Upperco, MD |
|---|---|
| Website | www.fmb1919.bank |
| Branches | 9 branches in MD |
| Availability | Available in MD |
Farmers and Merchants Bank savings, CD and money market rates
How the rate applies
How the rate applies
How the rate applies
Rates are APY. The national savings average is 0.38% (FDIC, Oct 2026). The top tracked savings rate on Banksparency is 12.00%. Across 59 savings accounts from 58 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.20% or more. See the highest savings rates.
Farmers and Merchants Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 3 months | 0.35% | $500 | 3-Month Certificate of Deposit |
| 6 months | 0.45% | $500 | 6-Month Certificate of Deposit |
| 7 months | 4.10% | $500 | 7-Month CD Special |
| 12 months | 1.00% | $500 | 12-Month Certificate of Deposit |
| 13 months | 4.00% | $500 | 13-Month CD Special |
| 18 months | 0.50% | $500 | 18-Month Certificate of Deposit |
| 24 months | 0.50% | $500 | 24-Month Certificate of Deposit |
| 30 months | 0.50% | $500 | 30-Month Certificate of Deposit |
| 60 months | 0.60% | $500 | 60-Month Certificate of Deposit |
Interactive Tool
Calculate Savings for Farmers and Merchants Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$37.30(0.3%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,037.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Farmers and Merchants Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Farmers and Merchants Bank paid a higher average rate on savings and money market deposits than 29% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Farmers and Merchants Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Health Savings | 0.10% | $100 | $0 | None | not stated | not stated | Tiered | |
| Savings Account | 0.05% | $25 | $0 | None | not stated | not stated | One rate | |
| Local Advantage Money Market | 3.00% | $100,000 | $0 | None | not stated | not stated | Tiered | |
| Fine print: The account requires $100,000 to open. The lowest balance tier sits below that figure, so it reaches only an account whose balance has since fallen below the opening minimum. | ||||||||
| Insured Money Market | Up to 0.60% | $25 | $0 | None | not stated | not stated | Tiered | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 3-Month Certificate of Deposit | 3 months | 0.35% | $500 | not stated | not stated |
| 6-Month Certificate of Deposit | 6 months | 0.45% | $500 | not stated | not stated |
| 7-Month CD Special | 7 months | 4.10% | $500 | not stated | not stated |
| Fine print: The certificate does not renew automatically at the promotional rate. | |||||
| 12-Month Certificate of Deposit | 12 months | 1.00% | $500 | not stated | not stated |
| 13-Month CD Special | 13 months | 4.00% | $500 | not stated | not stated |
| Fine print: This rate is for new money only: it does not apply to funds already on deposit with the bank. The certificate does not renew automatically at the promotional rate. | |||||
| 18-Month Certificate of Deposit | 18 months | 0.50% | $500 | not stated | not stated |
| 24-Month Certificate of Deposit | 24 months | 0.50% | $500 | not stated | not stated |
| 30-Month Certificate of Deposit | 30 months | 0.50% | $500 | not stated | not stated |
| 60-Month Certificate of Deposit | 60 months | 0.60% | $500 | not stated | not stated |
Opening and using the account
| Availability | Available in MD |
|---|---|
| Footprint | 9 branches in MD |
| Eligibility | not stated |
How Farmers and Merchants Bank behaves over time
Every observation of the advertised Savings Account rate in the last 12 months was 0.05% (observed through Oct 21, 2026). The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Oct 14, 202613-Month CD SpecialRaise:3.90%to4.00%
- Obs. Oct 8, 202613-Month CD SpecialCut:4.00%to3.90%
- Obs. Oct 8, 20267-Month CD SpecialRaise:3.75%to4.10%
- Obs. Sep 23, 20267-Month CD SpecialRaise:3.50%to3.75%
- Savings Account
- The same as 30 days ago.
- 7 months CD
- Up 0.60 percentage points from 30 days ago.
- Local Advantage Money Market
- The same as 30 days ago.
$10,000 at the 0.05% APY Farmers and Merchants Bank advertises on Savings Account grows to $10,005 in a year. Prices rose 3.7% in the year to September 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $9,644 does today. See how the federal funds rate shapes savings rates.
Farmers and Merchants Bank CD rates over time
Who is Farmers and Merchants Bank?
| Headquarters | Upperco, MD |
|---|---|
| Founded | 1919 |
| Scale | $874M assets · $726M deposits, $595M of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 1895 |
| Charter state | Maryland · one of 27 insured banks chartered there (Q2 2026, FDIC) |
| Size | 1,163rd-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 10% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What Farmers and Merchants Bank pays on deposits above.
Common questions about Farmers and Merchants Bank
Is Farmers and Merchants Bank FDIC insured?
Yes. Farmers and Merchants Bank is FDIC insured under certificate 1895, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Farmers and Merchants Bank?
Farmers and Merchants Bank requires a minimum deposit of $25 to open its Savings Account, as observed on Oct 21, 2026. Check the bank's current terms before you open an account.
Does Farmers and Merchants Bank have branches?
Yes. Farmers and Merchants Bank operates 9 branches according to FDIC branch records, in addition to its website and mobile apps.
Farmers and Merchants Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Farmers and Merchants Bank | 0.05% | 0.90% | $25 | 9 branches in MD |
| 1st Community Bank | 0.05% | 0.45% | not stated | 2 branches in IL |
| Arrow Bank National Association | Up to0.05% | 2.21% | $500 | 56 branches in NY |
| Bank of Franklin County | 0.05% | 0.50% | $25 | 6 branches in MO |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Farmers and Merchants Bank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Maryland, nearest to Farmers and Merchants Bank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.
State pages: savings rates in Maryland, CD rates in Maryland, money market rates in Maryland, and banks in Maryland.