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Farmers & Merchants Bank & Trust

Marinette, WI · Cert 10382 · F&M Bankshares 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 WI3

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 WI (n=110 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

62

Q2 2024Q2 2026peer median (50)

Asset Quality

63

Q2 2024Q2 2026peer median (50)

Profitability

62

Q2 2024Q2 2026peer median (50)

Liquidity

89

Q2 2024Q2 2026peer median

Efficiency

35

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 & Merchants Bank & Trust

Marinette, WI · Cert 10382 · F&M Bankshares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$175.1MAssets
$124.9MLoans
$149.4MDeposits
$16.5MEquity
Loan mix
84%RE $100.6M16%C&I $18.7M1%Consumer $0.8MQ2 2025Q2 2026
Deposit mix
82%Interest-bearing $123.3M18%Noninterest $26.1MQ2 2025Q2 2026

NIM

4.42%Q2 ’244.91%Q2 ’255.33%Q2 ’26+13%+17%

Non-interest income vs. expense

2.81%Q2 ’242.83%Q2 ’252.98%Q2 ’26+6%+1%

Executive Summary

  • Earnings: ROA of 1.10%, up 49 bps year over year; NIM at 4.05%.
  • Asset quality: problem loans at 0.91% of loans (-55 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 11.36%, up 37 bps from a year ago.
  • Funding: loans stand at 83.58% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.10%+49 bps YoY

Net Interest Margin (YTD, annualized)

4.05%+60 bps YoY

Efficiency Ratio (YTD, annualized)

68.10%-928 bps YoY

Tier 1 Leverage Ratio

11.36%+37 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.61%0.67%0.61%1.15%1.10%+49 bps
Return on Equity7.20%7.65%6.91%12.27%11.77%+458 bps
Net Interest Margin3.45%3.50%3.58%4.04%4.05%+60 bps
Efficiency Ratio77.39%74.46%75.74%66.75%68.10%-928 bps
Non-Interest Burden2.62%2.54%2.65%2.55%2.65%+4 bps
Growth
Asset Growth (YoY)2.65%1.40%0.60%3.06%3.69%+103 bps
Loan Growth (YoY)0.95%-1.29%4.35%5.59%6.78%+583 bps
Deposit Growth (YoY)3.37%2.45%0.41%3.35%5.34%+197 bps
Asset Quality
Nonperforming Loans / Loans1.46%1.12%1.07%1.21%0.91%-55 bps
Net Charge-Offs / Loans0.00%0.01%0.00%0.00%0.00%0 bps
Allowance / Loans0.81%0.96%1.02%1.04%1.02%+21 bps
Allowance Coverage of NPLs0.5x0.9x1.0x0.9x1.1x+0.6x
Capital
Tier 1 Leverage Ratio10.99%11.23%11.11%11.37%11.36%+37 bps
Total Risk-Based Capital17.29%18.42%17.48%17.83%17.35%+6 bps
Equity / Assets9.00%9.33%9.24%9.44%9.40%+40 bps
Liquidity & Funding
Loans / Deposits82.46%78.45%81.35%82.24%83.58%+113 bps
Liquid Assets / Assets0.38%0.46%0.40%0.34%0.35%-2 bps
CRE / Total Capitaln/a254%268%262%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 & Merchants Bank & Trust

Marinette, WI · Cert 10382 · Peer group: banks under $1B in assets in WI (n=110-113) · F&M Bankshares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$175.1MAssets
$124.9MLoans
$149.4MDeposits
$16.5MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets in WI (rank 37 of 110).
  • Widest gap: nonperforming loans / loans trails 75% of banks under $1B in assets in WI (rank 83 of 110).
  • Overall: at or above the peer median on 5 of 9 directional measures.

Return on Assets

1.10%

Rank 65 of 113

Net Interest Margin

4.05%

Rank 17 of 113

Efficiency Ratio

68.10%

Rank 75 of 113

Equity / Assets

9.40%

Rank 77 of 113

Non-interest income vs. expense

$0.6M$5.3MINCOMEEXPENSE
Unfavorable gap of $4.8M · efficiency ratio beats 35% of banks under $1B in assets in WI
Bank 68.10%Peer median 62.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.10%0.85%1.17%1.51%Beats 42%65 / 113
Return on Equity11.66%7.70%10.77%13.67%Beats 58%48 / 113
Net Interest Margin4.05%3.19%3.59%3.89%Beats 85%17 / 113
Efficiency Ratio68.10%54.61%62.43%71.88%Beats 35%75 / 113
Asset Quality
Nonperforming Loans / Loans0.91%0.03%0.24%0.91%Beats 25%83 / 110
Net Charge-Offs / Loans0.00%n/a0.00%0.01%Beats 100%37 / 110
Capital
Tier 1 Capital Ratio16.26%11.22%12.95%15.76%Beats 76%27 / 113
Total Risk-Based Capital Ratio17.35%11.57%13.59%16.73%Beats 77%26 / 113
Equity / Assets9.40%9.17%10.74%13.13%Beats 32%77 / 113
Liquidity & Funding
Loans / Deposits83.58%76.54%86.37%98.93%42nd pctl65 / 112
Loans / Assets71.33%63.07%71.33%78.84%50th pctl57 / 113
Brokered Deposits / Depositsn/aNot reported for this institution