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F&M Bank Review

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F&M Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


F&M Bank first started operating in 1906 with its headquarters in Clarksville, Tennessee. It handles assets of $1 billion along with deposits totaling $825 million, classifying it as a medium-size bank. F&M Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, F&M Bank is a good bank that deserves your consideration, with a score of 3.9 out of 5 stars from the SmartAsset experts. F&M Bank offers a variety of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, F&M Bank's most basic checking account does not carry a monthly maintenance fee. Banks that offer no-fee checking and a high interest rate savings account are your best option for returning the highest income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

With a savings rate of 0.15%, F&M Bank ranks poorly as compared against the national average. F&M Bank's one-year CD earns at a rate of 1.00% and the five-year CD earns at a rate of 1.61%, while its highest-yielding money market account earns at an APY of 0.20%. Given F&M Bank's below average savings rate, you should consider taking a look at other banks for savings accounts.

How F&M Bank's Savings Rates Compare

F&M Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

F&M Bank has typically above-average fees in comparison to the national average. With no monthly fee, F&M Bank is ideal for those who want a simple checking account. For those who often frequent the ATM, it is fair because it has an out-of-network ATM fee of $1.50, which is reasonable in comparison to the average U.S. bank. Additionally, F&M Bank has an overdraft fee of $37.00, which is significantly steeper than the national average. F&M Bank unfortunately does not refund out-of-network ATM charges, which means you'll need to find an F&M Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.50 National Average: $1.20
Overdraft Fee $37.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

F&M Bank is a brick-and-mortar bank, with 20 total branches in Tennessee. With mobile and web apps, F&M Bank makes account access straightforward, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Thursday, 8:30 a.m. to 4:00 p.m. CT; Friday, and 8:30 a.m. to 5:30 a.m. CT. F&M Bank gets unsatisfactory marks from customers for its online presence. The F&M Bank mobile app is rated at 2.7 out of 5 (out of 18 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize F&M Bank's app to manage your funds by looking at monthly statements, sending and receiving funds and reaching customer service. F&M Bank gets an excellent consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 2.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

F&M Bank is currently a medium-size bank owning assets totaling $1 billion and deposits totaling $825 million. It has an excellent Texas Ratio of 2.56%, suggesting a minute probability of failure. Additionally, F&M Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare F&M Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $500
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.16% APY
  • 36 Month: 1.21% APY
  • 48 Month: 1.31% APY
  • 60 Month: 1.61% APY
$1000 for all terms
Money Market Account 0.1% APY $1

F&M Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. F&M Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. F&M Bank's CD rates are fair compared to the national average.

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Find a F&M Bank Near Me

F&M Bank has 20 physical branches in the U.S.

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