FM Bank
✓ FDIC-insured · Active FDIC Certificate #10998
FM Bank is an FDIC-insured state-chartered bank that is not a Federal Reserve member (supervised by the FDIC), headquartered in Waseca, Minnesota, established in 1878. As of the 06/30/2026 FDIC call report, it reported $738M in total assets and $636M in deposits. FDIC location data lists 6 offices in Minnesota. The FDIC classifies it as a community bank. It is owned by the holding company INDEPENDENT BANCSHARES INC (Shorewood, MN).
Financial data as of the 06/30/2026 FDIC call report.
Where it operates
All 6 of FM Bank's FDIC-listed offices are in Minnesota. Browse banks in Waseca for other local options.
Branch locations
| FM Bank Fergus Falls Branch · Full Service - Brick And Mortar | 226 E Lincoln Ave Fergus Falls, MN 56537 Map ↗ |
| FM Bank Olivia Office Branch · Full Service - Brick And Mortar | 815 E Depue Ave Olivia, MN 56277 Map ↗ |
| FM Bank Wheaton Branch · Full Service - Brick And Mortar | 921 Broadway Wheaton, MN 56296 Map ↗ |
| FM Bank Clarkfield Branch · Full Service - Brick And Mortar | 940 10th Ave Clarkfield, MN 56223 Map ↗ |
| FM Bank Granite Falls Branch · Full Service - Brick And Mortar | 702 Prentice St Granite Falls, MN 56241 Map ↗ |
| FM Bank Fm Bank · Full Service - Brick And Mortar | 220 Elm Ave E Waseca, MN 56093 Map ↗ |
Holding company: INDEPENDENT BANCSHARES INC
The FDIC lists INDEPENDENT BANCSHARES INC, based in Shorewood, MN, as the top holding company for FM Bank. It also owns one other FDIC-insured bank:
- Quoin Financial Bank, Miller, SD ($251M in assets)
FDIC deposit insurance applies separately to each insured bank charter, even when they share a holding company. Confirm the charter before you spread deposits.
Similar-size banks in Minnesota
Active FDIC-insured banks headquartered in Minnesota with total assets closest to FM Bank's $738M. See all banks in Minnesota.
| Bank | HQ city | Assets | Offices |
|---|---|---|---|
| Northeast Bank | Minneapolis | $837M | 3 |
| Highland Bank | Saint Paul | $776M | 8 |
| Alliance Bank | Lake City | $756M | 6 |
| Platinum Bank | Oakdale | $739M | 2 |
| The Bank of Elk River | Elk River | $719M | 5 |
| HomeTown Bank | Carver | $692M | 11 |
| Premier Bank Minnesota | Hastings | $691M | 12 |
| BankVista | Sartell | $651M | 3 |
FM Bank: common questions
Is FM Bank FDIC-insured?
Yes. FM Bank is an active FDIC-insured institution, FDIC Certificate #10998. Deposits are insured up to $250,000 per depositor, per ownership category. You can confirm this on FDIC BankFind.
Where is FM Bank headquartered?
FM Bank is headquartered at 220 Elm Ave E, Waseca, MN 56093, according to FDIC records.
How many branches does FM Bank have?
FDIC location data lists 6 offices for FM Bank, all in Minnesota.
Who owns FM Bank?
The FDIC lists INDEPENDENT BANCSHARES INC of Shorewood, MN as the top holding company for FM Bank. The same holding company owns 1 other FDIC-insured bank.
Source: FDIC BankFind Suite (institution, location, and call report data). BankNearMe.com does not rank or rate banks.