DEPOSIT PRODUCTS

Farmers State Bank offers a wide variety of deposit accounts to fit your needs. Scroll down to see the different options that are available. 

We also have a staff of helpful Customer Service Representatives who can help you decide which account is the one for you.  Call one of our convenient locations today!

Main Bank:  (918) 469-3337

Red Oak Branch:  (918) 754-2215

Haskell County Branch:  (918) 967-1025



 Checking Accounts

 

 

New - Maverick Checking!

We’re very excited about our newest checking account choice - the Maverick Checking!  It has the following great features: 

  • Earn 2.76% APY* on balances up to $20,000!

  • No Monthly Service Charge!

  • FREE FSB Check Card!

  • Unlimited FREE Debit Card Transactions!

  • Unlimited FREE Check Writing!

  • FREE Internet Banking & Bill Pay!

  • ATM Fees REFUNDED**

  • 0.50% APY is earned on balances above $20,000

  • Minimum Deposit to Open: $100.00

** Up to $25 per qualification cycle will be refunded on ATM fees incurred due to use at ATMs not owned by FSB.

 

In order to earn the 2.76% APY* and receive refunds on all ATM fees, you only have to meet 3 easy qualifications!

o       Have 10 Check Card purchases Post & Clear your account within the qualification cycle

o       Have 1 Direct Deposit or Automatic Payment Post & Clear your account within the qualification cycle

o       Enroll & Receive Electronic Statements

 

What happens if you don’t meet these qualifications during your qualification cycle?

o       You’ll earn 0.10% APY* on your checking balance

o       ATM fees will not be reimbursed

 

* Annual Percentage Yield

 

Bank Club Checking

One of our most popular choices, the Bank Club Account includes many great features, including the following FREE services:

  • FREE Personalized Checks!
  • FREE ATM/FSB Check Card!
  • FREE Notary Service!
  • Unlimited Check Writing!
  • Minimum Deposit to Open: $100.00

As a Bank Club Account holder, you can also choose an Accidental Death Insurance Plan that best fits your needs:

Accidental Death Insurance Coverage

Basic Plan: $10,000 for $8 per month

Personal Plan: $20,000 for $9 per month

Family Plan: $30,000 for $10 per month*

*Plus $1,500 accidental death coverage for each child under the age of 19 living in the home (Family Plan only)

55+ Checking

For our valued customers 55 and older, we offer some special perks, including the opportunity to earn interest on your checking account!

  • Minimum Deposit to Open: $100.00

  • Service Charge is waived if the balance remains above $750.00

  • Service Charge of $7.50 per month if the balance falls below $750.00

  • For balances of $1,500.00 or more, you earn interest!*

  • 30 free checks per month, and all over 30 are $0.15 each

  • FREE Personalized Checks!

* Based on actual daily balance.  Variable interest rate subject to change at our discretion.

 

Regular Checking

A "no-frills" checking account option.

  • Minimum Deposit to Open: $100.00

  • Service Charge is waived if the balance remains above $500.00

  • Service Charge of $7.50 per month if the balance falls below $500.00

  • 30 free checks per month, and all over 30 are $0.15 each

NOW Checking

If you maintain a balance in your checking account of $1,500.00 or more, then the NOW Checking Account is the one for you!     

  • Minimum Deposit to Open: $1,500.00

  • Service Charge is waived if the balance remains above $1,500.00

  • Service Charge of $10.00 per month and no interest paid if the balance falls below $1,500.00

  • For balances of $1,500.00 or more, you earn interest!*

  • 30 free checks per month, and all over 30 are $0.15 each

  • $1.00 per month for each ATM/FSB Check Card

* Based on actual daily balance.  Variable interest rate subject to change at our discretion.

 

Small Business Checking

A starter account for small businesses such as sole proprietorships and DBA entities. Ideal for businesses with a small volume of checks and deposits clearing through the account.

  • Minimum Deposit to Open: $200.00

  • Account Maintenance Fee of $7.00 per month

  • Per Check Charge

    • No fee for the first 25

    • Each additional check is $0.20 each

  • Deposit Items

    • No fee for the first 65

    • Each additional deposit item is $0.08 each

Commercial Checking

Designed for a business that maintains a higher balance and runs a large volume of checks through the account.

  • Minimum Deposit to Open: $200.00

  • Account Maintenance Fee of $5.00 per month

  • Fee of $0.15 each per debit item

  • Fee of $0.045 each for clearing checks

  • Commercial accounts are charged by account analysis

  • Interest Credit: Collected balance less 3%

  • Reserves at a variable interest rate, which is subject to change daily.

*Fees and service charges may apply to any and all accounts offered by Farmers State Bank.

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Savings Accounts

Regular Savings

Ideal for individuals who want a secure place to save their money with low minimum balance requirements. 

  • Minimum Deposit to Open: $100.00

  • Service Charge is waived if the balance remains above $100.00

  • Service Charge of $1.00 per month and no interest paid if the balance falls below $100.00

  • For balances of $100.00 or more, you earn interest!*

  • 2 free withdrawals per month--all over 2 are $1.00 each

* Based on actual daily balance.  Variable interest rate subject to change at our discretion.

 

Money Market Plus Savings

Targeted to individuals who would like to earn higher interest rates for higher balances.  

  • Minimum Deposit to Open: $2,500.00

  • Service Charge is waived if the balance remains above $2,500.00

  • Service Charge of $10.00 per month and no interest paid if the balance falls below $2,500.00

  • For balances of $2,500.00 or more, you earn interest!*

  • 6 free withdrawals per month--all over 6 are $10.00 each

* Based on actual daily balance.  Variable interest rate subject to change at our discretion.

 

Young Savers 

This account is designed for children under the age of 18.  

  • Minimum Deposit to Open: $20.00

  • No maintenance fee!

  • Charge of $2.00 per withdrawal on each withdrawal

  • Entire account balance earns interest!*

* Based on actual daily balance.  Variable interest rate subject to change at our discretion.

*Fees and service charges may apply to any and all accounts offered by Farmers State Bank.

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Certificate of Deposits

Certificates of Deposit (CDs) are designed for individuals who can set their money aside for an extended period of time.  Some of the features of our CDs are:   

  • Minimum Deposit to Open: $1,000.00

  • Flexible Terms Available:

    • 6 Month to 24 Month Fixed Rate

    • 24 Month Adjustable Rate

    • 6 Month & 24 Month Add-on accounts

  • Flexible Interest Payment Plans

  • Automatic Renewal

  • Book Entry/Signature Card (no certificate for safekeeping)

Early Withdrawal Penalties will apply for all certificate of deposit products offered.

*Fees and service charges may apply to any and all accounts offered by Farmers State Bank.

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Individual Retirement Accounts (IRAs)
 

By investing in an IRA, you can start planning for your retirement or for a qualified beneficiary's educational expenses now!  Farmers State Bank offers several different types of IRAs.  The terms and requirements of IRAs can be very complicated, but our Customer Service Representatives are here to help you sort out the details.

 

Traditional IRA 

The Traditional IRA is a great way to save toward your retirement.  Some features of the Traditional IRA are:

  • Minimum Deposit to Open: $500.00

  • No minimum age requirements.

  • Eligible contributions are tax deductible!

  • Mandatory distributions are required beginning at age 70½. 

  • Flexible Terms Available:

    • 3 Month to 24 Month Fixed Rate

    • 18 Month Variable Rate

Early Withdrawal Penalties may apply for IRA products.  Eligibility and deposit limits are based on current IRS regulations.

 

ROTH IRA 

The ROTH IRA offers a different set of benefits than the Traditional IRA.  Some features of the ROTH IRA are:

  • Minimum Deposit to Open: $500.00

  • Income on the ROTH IRA is tax free*! (*must meet IRS requirements)

  • Mandatory distributions are not required at age 70½.

  • You have access to your principal at any time without IRS penalty.

  • Limits on Earned Income apply.

  • Flexible Terms Available:

    • 3 Month to 24 Month Fixed Rate

    • 18 Month Variable Rate

Early Withdrawal Penalties may apply for IRA products.  Eligibility and deposit limits are based on current IRS regulations.

 

Self-Employed Person (SEP) IRA 

The SEP IRA is a great savings tool for our self-employed customers and their employees!  Some features of the SEP IRA are:

  • Minimum Deposit to Open: $500.00

  • Eligible Employer contributions to the SEP IRA are tax deductible!

  • Salary Deductions to the SEP IRA allow employees to contribute to their retirement accounts.

  • Limits on W-2 Income apply.

  • Mandatory distributions are required at age 70½.

  • Flexible Terms Available:

    • 3 Month to 24 Month Fixed Rate

    • 18 Month Variable Rate

Early Withdrawal Penalties may apply for IRA products.  Eligibility and deposit limits are based on current IRS regulations.

 

Coverdell Education Savings Account (CESA)  

This account was formerly called the Educational IRA.  The CESA allows you to save toward qualified educational expenses!  Some features of the CESA are:

  • Minimum Deposit to Open: $500.00

  • No minimum age requirements, and contributions can be made to benefit a minor until they reach age 18.  Age limits can be extended for special needs children.

  • Limits on Income apply.

  • Eligible Earnings on contributions to the CESA accumulate tax free if used for a qualified educational expense for any level of education!

  • Eligible Distributions from the CESA are tax free if used for qualified expenses for primary, secondary or college expenses!

  • Any balance in a CESA must be distributed before the beneficiary reaches age 30.

  • Flexible Terms Available:

    • 3 Month to 24 Month Fixed Rate

    • 18 Month Variable Rate

Early Withdrawal Penalties may apply for IRA products.  Eligibility and deposit limits are based on current IRS regulations.

 

*Fees and service charges may apply to any and all accounts offered by Farmers State Bank.

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Safe Deposit Boxes
 

Safe Deposit Boxes are a great way to store your valuable items and are available at all three branch locations. Some features of our Safe Deposit Boxes include:

  • Auto Payment from checking or savings account is required.

  • A reasonable range of annual rent payment rates.

  • Sizes ranging from 3 X 5 inches to 10 X 10 inches (please see the chart below for the sizes available at each location).

A substantial drilling fee is charged for lost keys.

 

Sizes Available
3 X 5 $20 per year - Main Bank only
5 X 5 $25 per year - Main Bank only
3 X 10 $30 per year - All Locations
4 X 10 $35 per year - Main Bank only
5 X 10 $40 per year - All Locations
10 X 10 $70 per year - All Locations

 

*Fees and service charges may apply to any and all accounts offered by Farmers State Bank. 

If there is any service we do not offer and you need, please let us know. We care about your business!

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