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Personal Banking
 

 

Loans

Farmers State Bank of Hamel offers a wide array of consumer and business loans. Our loan officers have extensive experience in helping businesses and individuals find the lending product that meets their needs.

Consumer Loans

As your financing needs change over time, the Farmers State Bank of Hamel will work with you to provide flexible and prompt service.

  • Vehicle loan
  • Home improvement
  • Home Equity Line of Credit (Equity Line Plus)
  • Executive Reserve Credit
  • Reserve Credit (overdraft protection)
  • Recreational (boat, ATV, snowmobile, etc.)
  • "Give Em a Chance" Program for those establishing or rebuilding credit

The following link provides a personal loan application that you can complete on-line and send securely to a loan officer at our Hamel office. Our goal is to provide a credit decision within one business day. 

Personal Loan Application

Home Mortgages

Construction Loans
Designed for builders, developers, and individuals; catered to meet your needs. Benefits include:

  • Quick, local credit decisions
  • Competitive interest rates
  • Diverse loan options
  • Flexible terms

Home Equity Line of Credit (Equity Line Plus)
Provides access to your home's equity for a variety of uses, ranging from remodeling to college expenses or debt consolidation.

  • Easy, convenient application
  • Fast, local credit decisions
  • Competitive interest rates
  • Potential tax-deductible interest*

*Consult with your tax advisor

Term Real Estate Loans

  • First Mortgage and Junior Mortgage
  • Fixed interest rates

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Personal Checking

Freedom Checking

  • $10 minimum deposit required to open
  • Service charge waived with $10 daily balance
  • If your balance falls below $10 on any day in the statement cycle, your account will be subject to a $10 service charge for that statement cycle
  • FREE Instant Cash & Check card
  • Itemized monthly statements
  • FREE E-Statements Available. For those who wish to receive statements in the mail, a $2 per month fee applies  

 Bear Minimum Checking

  • $100 minimum deposit required to open
  • Service charge waived with $100 daily balance
  • If your balance falls below $100 on any day in the statement cycle, your account will be subject to a $5 service charge and $0.20 per check and POS transaction for that statement cycle
  • FREE Instant Cash & Check card
  • Check images are returned in monthly statement 
  • FREE E-Statements Available. For those who wish to receive statements in the mail, a $2 per month fee applies
  • FREE binder for easy statement filing

Golden Eagle Checking

  • This account is exclusive for those 55 years of age and up
  • $100 minimum deposit required to open
  • No minimum monthly balance requirement
  • Unlimited check writing
  • FREE Instant Cash & Check card
  • Check images are returned in monthly statement
  • FREE E-Statements Available. For those who wish to receive statements in the mail, a $2 per month fee applies
  • First box of FSBOH exclusive checks free, or $10 in gas coupons if other checks are purchased
  • FREE binder for easy statement filing

Kodiak Checking

  • $100 minimum deposit required to open
  • Higher interest rate than other checking accounts
  • Combined minimum balance of $10,000 in your Kodiak Checking, Savings, and CD's required to waive the $12 monthly service charge. Ownership restrictions apply
  • FREE Instant Cash & Check card 
  • First box of FSBOH exclusive checks free, or $10 in gas coupons if other checks are purchased
  • Check images are returned in monthly statement
  • FREE E-Statements Available. For those who wish to receive statements in the mail, a $2 per month fee applies when minimum balance requirements are not met.
  • Free 3 x 5 Safe Deposit Box for one year, or credit toward a larger box (new boxes only)
  • Three no fee Cashiers Checks, Money Orders, or Visa Gift Cards per month
  • FREE binder for easy statement filing

Round-Up Checking

  • $100 minimum deposit required to open
  • Variable interest rate applies
  • On days that account balance is $1,000 or greater, interest will be earned on entire balance
  • Service charge waived with $1,000 daily balance
  • If the account balance falls below $1,000 on any day in the statement cycle, the account will be subject to a $5 service charge plus a debit charge of $0.25 per check and POS transaction for that statement cycle
  • FREE Instant Cash & Check card 
  • Check images are returned in monthly statement
  • FREE E-Statements Available. For those who wish to receive statements in the mail, a $2 per month fee applies
  • FREE binder for easy statement filing

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Personal Savings
Incentive Savings
No need to worry about getting the best rate. We offer an all-in-one savings account that is tiered and has variable interest rates. This gives you the benefit to earn higher rates on your deposit without having to change anything on your account. When your balance increases or decreases to the next tier, you automatically earn that rate of interest for the entire account balance without any hassles.
  • $100 minimum deposit required to open
  • Service charge waived with $500 daily balance
  • If your balance falls below $500 on any day in the statement cycle, your account will be subject to a $5 service charge for that statement cycle
  • Service charge and minimum deposit requirements waived for those under 18 years of age provided the account does not become dormant
  • Quarterly statements
  • ***FREE E-Statements Available***
  • $2 paper statement fee
  • 12 free withdrawals are allowed per quarterly statement cycle. A $1 fee for each additional withdrawal will be deducted from the account at the time of withdrawal
Certificate of Deposit
  • CD's are automatically renewable*
  • Higher interest rates are paid on CD's of $25,000 and over
  • CD's are available for Individual Retirement Accounts (IRA's). IRA's are FDIC insured up to $250,000
Minimum deposits required to open:
 3 month CD
 6 month CD
12 month CD
18 month CD
24 month CD
36 month CD
60 month CD
$2,500 minimum deposit
$2,500 minimum deposit
$2,500 minimum deposit
$500 minimum deposit
$500 minimum deposit
$500 minimum deposit
$500 minimum deposit

*Substantial penalty for early withdrawal may apply

IRA's

IRA's are a great way to save for retirement. They are personal savings plans that allow you to set aside money for retirement, while offering you tax advantages*. We offer Traditional and Roth IRA's that are on deposit in a CD. IRA's are FDIC insured up to $250,000.

Traditional IRA

  • Fully / partially deductible contributions
  • Distributions taxed, but earnings not taxed until distribution
  • Annual distributions required after age 70 1/2
  • Must have earned income / compensation 
  • Potential tax credit

Roth IRA

  • Non-deductible contributions
  • Tax-free distributions if qualifications are met
  • May contribute annually after age 70 1/2
  • Must have earned income / compensation  

*Consult with your tax advisor

 

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* Loans, credit cards, and overdraft protection are subject to credit approval. Complete Account Disclosures for all products available upon request and provided at account opening.

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