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Farmers and Merchants State Bank of Pierz

Pierz, MN · Cert 10165 · Farmers&Merchants Agency Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in MN3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets in MN (n=111 to 113). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

3

Q2 2024Q2 2026peer median (50)

Asset Quality

22

Q2 2024Q2 2026peer median (50)

Profitability

84

Q2 2024Q2 2026peer median (50)

Liquidity

81

Q2 2024Q2 2026peer median

Efficiency

61

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Farmers and Merchants State Bank of Pierz

Pierz, MN · Cert 10165 · Farmers&Merchants Agency Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$336.2MAssets
$221.1MLoans
$308.5MDeposits
$23.5MEquity
Loan mix
82%RE $146.7M14%C&I $24.5M4%Consumer $6.8MQ2 2025Q2 2026
Deposit mix
70%Interest-bearing $215.8M30%Noninterest $92.7MQ2 2025Q2 2026

NIM

5.25%Q2 ’245.70%Q2 ’255.88%Q2 ’26+8%+11%

Non-interest income vs. expense

2.68%Q2 ’242.82%Q2 ’252.89%Q2 ’26+6%+3%

Market Position · St. Cloud, MN · 2026 SOD (annual) · 0.8% share · #22 of 32 inst. · $0.1B of $7.9B

25.8% Morrison
8.4% Benton
7.6% Meeker

Executive Summary

  • Earnings: ROA of 1.36%, up 36 bps year over year; NIM at 4.63%.
  • Asset quality: problem loans at 1.03% of loans (-15 bps YoY), with net charge-offs at 0.66%.
  • Capital: tier 1 leverage ratio of 9.28%, down 87 bps from a year ago.
  • Funding: loans stand at 71.69% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.36%+36 bps YoY

Net Interest Margin (YTD, annualized)

4.63%+45 bps YoY

Efficiency Ratio (YTD, annualized)

58.23%-415 bps YoY

Tier 1 Leverage Ratio

9.28%-87 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.00%0.93%1.09%1.09%1.36%+36 bps
Return on Equity15.99%14.32%16.06%15.07%19.09%+311 bps
Net Interest Margin4.18%4.14%4.17%4.49%4.63%+45 bps
Efficiency Ratio62.39%59.06%57.42%60.15%58.23%-415 bps
Non-Interest Burden2.47%2.30%2.25%2.57%2.55%+7 bps
Growth
Asset Growth (YoY)2.49%-0.67%3.78%3.25%4.61%+212 bps
Loan Growth (YoY)-6.86%-3.25%-2.69%-2.66%10.39%+1,725 bps
Deposit Growth (YoY)2.48%-1.24%2.55%3.26%3.35%+87 bps
Asset Quality
Nonperforming Loans / Loans1.18%1.30%1.39%1.23%1.03%-15 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.99%0.66%+66 bps
Allowance / Loans1.34%1.34%1.45%1.40%1.32%-3 bps
Allowance Coverage of NPLs1.1x1.0x1.0x1.1x1.3x+0.1x
Capital
Tier 1 Leverage Ratio10.15%9.75%9.93%8.97%9.28%-87 bps
Total Risk-Based Capital10.15%9.75%9.93%8.97%9.28%-87 bps
Equity / Assets6.69%7.25%7.80%6.59%6.99%+29 bps
Liquidity & Funding
Loans / Deposits67.12%67.45%68.07%69.92%71.69%+457 bps
Liquid Assets / Assets8.67%5.59%2.54%1.85%1.38%-729 bps
CRE / Total Capitaln/a108.27%103.60%108.48%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Farmers and Merchants State Bank of Pierz

Pierz, MN · Cert 10165 · Peer group: banks under $1B in assets in MN (n=111-113) · Farmers&Merchants Agency Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$336.2MAssets
$221.1MLoans
$308.5MDeposits
$23.5MEquity

Executive Summary

  • Strongest standing: return on equity outperforms 93% of banks under $1B in assets in MN (rank 8 of 113).
  • Widest gap: total risk-based capital ratio trails 99% of banks under $1B in assets in MN (rank 112 of 113).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

1.36%

Rank 35 of 113

Net Interest Margin

4.63%

Rank 12 of 113

Efficiency Ratio

58.23%

Rank 45 of 113

Equity / Assets

6.99%

Rank 106 of 113

Non-interest income vs. expense

$1.2M$9.7MINCOMEEXPENSE
Unfavorable gap of $8.5M · efficiency ratio beats 61% of banks under $1B in assets in MN
Bank 58.23%Peer median 61.5%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.36%0.87%1.20%1.41%Beats 69%35 / 113
Return on Equity19.51%8.92%11.27%13.99%Beats 93%8 / 113
Net Interest Margin4.63%3.42%3.88%4.31%Beats 89%12 / 113
Efficiency Ratio58.23%54.13%61.48%69.86%Beats 61%45 / 113
Asset Quality
Nonperforming Loans / Loans1.03%0.09%0.58%1.82%Beats 36%72 / 111
Net Charge-Offs / Loans0.34%n/a0.00%0.04%Beats 8%103 / 111
Capital
Tier 1 Capital Ratio9.28%11.53%13.31%18.13%Beats 1%112 / 113
Total Risk-Based Capital Ratio9.28%12.12%14.43%19.39%Beats 1%112 / 113
Equity / Assets6.99%8.52%10.10%11.94%Beats 6%106 / 113
Liquidity & Funding
Loans / Deposits71.69%62.08%77.32%88.06%39th pctl68 / 111
Loans / Assets65.77%55.01%66.35%75.50%49th pctl58 / 113
Brokered Deposits / Depositsn/aNot reported for this institution