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First Farmers & Merchants Bank

Cannon Falls, MN · Cert 10168 · 215 Holding Co.

State charter, non-member · FDIC · 7 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

49

Q2 2024Q2 2026peer median (50)

Asset Quality

77

Q2 2024Q2 2026peer median (50)

Profitability

66

Q2 2024Q2 2026peer median (50)

Liquidity

78

Q2 2024Q2 2026peer median

Efficiency

89

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

First Farmers & Merchants Bank

Cannon Falls, MN · Cert 10168 · 215 Holding Co.

State charter, non-member · FDIC · 5 affiliate banks · 7 branches (24 in holding)

Q2 2026

$486.4MAssets
$310.0MLoans
$436.8MDeposits
$47.0MEquity
Loan mix
85%RE $218.1M13%C&I $34.0M2%Consumer $4.7MQ2 2025Q2 2026
Deposit mix
82%Interest-bearing $359.1M18%Noninterest $77.7MQ2 2025Q2 2026

NIM

4.36%Q2 ’244.73%Q2 ’255.07%Q2 ’26+28%+11%

Non-interest income vs. expense

2.01%Q2 ’242.07%Q2 ’252.11%Q2 ’26+3%+2%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 0.0% share · #102 of 125 inst. · $0.1B of $253.2B

24.6% Goodhue
9.9% Le Sueur

Executive Summary

  • Earnings: ROA of 1.36%, up 39 bps year over year; NIM at 4.00%.
  • Asset quality: problem loans at 0.01% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.09%, up 61 bps from a year ago.
  • Funding: loans stand at 70.96% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.36%+39 bps YoY

Net Interest Margin (YTD, annualized)

4.00%+39 bps YoY

Efficiency Ratio (YTD, annualized)

48.87%-382 bps YoY

Tier 1 Leverage Ratio

10.09%+61 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.97%1.01%1.03%1.18%1.36%+39 bps
Return on Equity11.56%12.04%12.21%13.57%15.12%+356 bps
Net Interest Margin3.60%3.63%3.65%3.98%4.00%+39 bps
Efficiency Ratio52.69%51.87%51.27%48.26%48.87%-382 bps
Non-Interest Burden1.72%1.70%1.69%1.73%1.76%+4 bps
Growth
Asset Growth (YoY)-0.16%2.63%7.71%4.88%4.77%+493 bps
Loan Growth (YoY)2.96%4.60%5.34%4.58%5.03%+207 bps
Deposit Growth (YoY)5.77%7.72%6.35%3.94%3.75%-202 bps
Asset Quality
Nonperforming Loans / Loans0.01%0.01%0.01%0.01%0.01%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.95%0.96%1.00%1.01%0.98%+3 bps
Allowance Coverage of NPLs116.6x118.6x122.8x125.4x126.0x+9.4x
Capital
Tier 1 Leverage Ratio9.48%9.30%9.44%9.44%10.09%+61 bps
Total Risk-Based Capital13.95%13.98%14.51%14.34%14.93%+98 bps
Equity / Assets8.53%8.61%8.62%8.72%9.66%+113 bps
Liquidity & Funding
Loans / Deposits70.10%69.58%66.51%69.76%70.96%+86 bps
Liquid Assets / Assets4.29%5.85%7.52%4.80%4.95%+66 bps
CRE / Total Capitaln/a209%202%209%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

First Farmers & Merchants Bank

Cannon Falls, MN · Cert 10168 · Peer group: banks under $1B in assets in MN (n=111-113) · 215 Holding Co.

State charter, non-member · FDIC · 5 affiliate banks · 7 branches (24 in holding)

Q2 2026

$486.4MAssets
$310.0MLoans
$436.8MDeposits
$47.0MEquity

Executive Summary

  • Strongest standing: efficiency ratio outperforms 89% of banks under $1B in assets in MN (rank 13 of 113).
  • Widest gap: equity / assets trails 60% of banks under $1B in assets in MN (rank 68 of 113).
  • Overall: at or above the peer median on 8 of 9 directional measures.

Return on Assets

1.35%

Rank 37 of 113

Net Interest Margin

4.00%

Rank 48 of 113

Efficiency Ratio

48.87%

Rank 13 of 113

Equity / Assets

9.66%

Rank 68 of 113

Non-interest income vs. expense

$1.7M$10.2MINCOMEEXPENSE
Unfavorable gap of $8.5M · efficiency ratio beats 89% of banks under $1B in assets in MN
Bank 48.87%Peer median 61.5%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.35%0.87%1.20%1.41%Beats 67%37 / 113
Return on Equity13.99%8.92%11.27%13.99%Beats 74%29 / 113
Net Interest Margin4.00%3.42%3.88%4.31%Beats 58%48 / 113
Efficiency Ratio48.87%54.13%61.48%69.86%Beats 89%13 / 113
Asset Quality
Nonperforming Loans / Loans0.01%0.09%0.58%1.82%Beats 88%14 / 111
Net Charge-Offs / Loans0.00%n/a0.00%0.04%Beats 65%40 / 111
Capital
Tier 1 Capital Ratio14.04%11.53%13.31%18.13%Beats 55%51 / 113
Total Risk-Based Capital Ratio14.93%12.12%14.43%19.39%Beats 52%54 / 113
Equity / Assets9.66%8.52%10.10%11.94%Beats 40%68 / 113
Liquidity & Funding
Loans / Deposits70.96%62.08%77.32%88.06%36th pctl71 / 111
Loans / Assets63.72%55.01%66.35%75.50%43rd pctl64 / 113
Brokered Deposits / Depositsn/aNot reported for this institution