Savings

Let us Help you find the right savings solution for your life.

Statement Savings 

  • $25 minimum opening deposit
  • $100 minimum daily balance required to earn interest
  • $100  daily balance required to avoid service charge
  • Interest will be compounded quarterly and added to the account every quarter
  • We use the daily balance method to calculate interest on your account.This method applies a daily periodic rate to the principal in the account each day.
  • Interest begins to accrue no later than the business day we recieve credit for the deposit of non-cash items(for example--checks)
  • $3.00 monthly maintenance fee if the  daily balance is not maintained
  • Four free withdrawals in person per month; any additional withdrawals will be $3.00 each
  • Unlimited ATM withdrawals
  • Transfers from a Statement Savings account to another account or third parties by preauthorized,automatic,telephone,or computer transfer are limited to six per month with no transfers by check,draft,or similar order to third parties.
  • If you close your account within the first 90 days after opening, a $25.00 early account closing fee will be assessed to your account. If you close your account before interest is credited, you will not receive the accrued interest.

Smart Money Savings

  • $25 minimum opening deposit
  • Interest is tiered based on the balance in your account / Please see Deposit Rate Page
  • We may change the interest rate on your account daily
  • At our discretion, we may change the interest rate on your account
  • Interest will be compounded daily and credited to your account monthly
  • $10.00 service charge fee will be imposed every month if the balance in the account falls below $100.00 any day of the month
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day
  • Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example checks)
    Transfers from a Smart Money Savings account to another account or to third parties by preauthorized, automatic, or telephone transfers, are limited to six per month with no transfers by check, draft or similar order to third parties. Teller transactions will be limited to transfers from the Smart Money Savings account into a qualified Farmers State Bank checking account. This account is available only in combination with a Farmers State Bank checking account.
  • $25.00 fee will be charged for each automatic transaction in excess of six during a month
  • If you close your account before interest is credited,you will not receive the accrued interest.If you close your account within the first 90 days of opening,a $25.00 early account closing fee will be assessed to your account


Certificates of Deposit

  • $1,000 minimum deposit to open account
  • Interest is computed by using the daily balance method which applies a periodic rate to the principal in the account each day
  • Interest is paid to you monthly
  • After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until the maturity date
  • The annual percentage yield (APY) disclosed on the rate chart assumes that interest remains on deposit until maturity
  • Early withdrawal penalties apply  

IRA’s

Farmers State Bank provides IRA Certificate of Deposit services. Click here for the location of our nearest branch to contact for current rates and tiers, additional disclosures and additional service fees that may apply.

Farmers State Bank Wealth Management has additional IRA options to fit your retirement needs. For a complete list and more information, go to Wealth Management.

Financial Concepts, an independent certified financial planning service with offices in Farmers State Bank, offers other additional investment options. For more information, go to Sammons Securities