FSB Offers COVID-19 Relief Plan

March 30, 2020

For over 140 years Farmers State Bank has supported our clients and communities, and during this difficult time we remain committed to continuing that support. “This is an unprecedented time for all of us,” says CEO, Rod Duroe, “Our goal is to stand with our customers and help our communities get back on their feet.”

To lessen the strain on our customers experiencing financial hardship due to COVID-19, FSB is offering the following COVID-19 Relief Program, which is available through April 30, 2020.

For personal customers of Farmers State Bank: 

  • The Bank may provide payment deferrals on consumer loans, credit cards and mortgage loans.
  • All associated fees for deferring payments (skip-a-pays) will be waived.  
  • Early withdrawal penalties on Certificates of Deposits are waived.
  • Fees for nonsufficient funds and overdrafts are waived. (The Bank is not obligated to pay any item against your account if there are not sufficient funds.)
  • We will continue to offer consumer credit for qualified consumers, including those experiencing financial hardship.

For business customers: 

  • Working capital lines of credit, payment modifications and payment deferrals.
  • All associated fees for payment deferrals or modifications will be waived.  
  • Early withdrawal penalties on Certificates of Deposit are waived.
  • Fees for nonsufficient funds and overdrafts are waived. (The Bank is not obligated to pay any item against your account if there are not sufficient funds.)

FSB is offering skip-a-pay service to defer a payment on your FSB loan or credit card. Interest will continue to accrue and your normal payment will resume as scheduled the following month. Payment deferral is subject to approval. For more information contact your lender. To apply, complete the Loan Deferral Form.

FSB continues to evaluate the rapidly changing impacts of COVID-19, and will consider options to extend or expand relief efforts as circumstances change.  For more details, please contact your Relationship Manager directly or call us at (877) 372-1879.

This blog is intended to be an informational resource for readers. The views expressed on this blog are those of the bloggers, and not necessarily those of FSB. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. FSB does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog.