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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

$175.1MAssets
$124.9MLoans
$149.4MDeposits
$16.5MEquity
Loan mix
84%RE $100.6M16%C&I $18.7M1%Consumer $0.8MQ3 2024Q2 2026
Deposit mix
82%Interest-bearing $123.3M18%Noninterest $26.1MQ3 2024Q2 2026

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.

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

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%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.45%0.43%0.65%0.61%0.67%0.61%1.15%1.10%+49 bps
Return on Equity5.39%5.25%7.86%7.20%7.65%6.91%12.27%11.77%+458 bps
Net Interest Margin3.05%3.12%3.29%3.45%3.50%3.58%4.04%4.05%+60 bps
Efficiency Ratio82.77%83.77%78.40%77.39%74.46%75.74%66.75%68.10%-928 bps
Non-Interest Burden2.47%2.56%2.54%2.62%2.54%2.65%2.55%2.65%+4 bps
Growth
Asset Growth (YoY)1.94%4.01%1.66%2.65%1.40%0.60%3.06%3.69%+103 bps
Loan Growth (YoY)4.16%3.64%1.66%0.95%-1.29%4.35%5.59%6.78%+583 bps
Deposit Growth (YoY)0.07%2.65%0.15%3.37%2.45%0.41%3.35%5.34%+197 bps
Asset Quality
Nonperforming Loans / Loans1.57%1.61%1.44%1.46%1.12%1.07%1.21%0.91%-55 bps
Net Charge-Offs / Loans0.57%0.42%0.00%0.00%0.01%0.00%0.00%0.00%0 bps
Allowance / Loans0.70%0.74%0.74%0.81%0.96%1.02%1.04%1.02%+21 bps
Allowance Coverage of NPLs0.4x0.5x0.5x0.5x0.9x1.0x0.9x1.1x+0.6x
Capital
Tier 1 Leverage Ratio10.94%10.82%10.76%10.99%11.23%11.11%11.37%11.36%+37 bps
Total Risk-Based Capital16.94%16.94%17.51%17.29%18.42%17.48%17.83%17.35%+6 bps
Equity / Assets8.83%7.93%8.72%9.00%9.33%9.24%9.44%9.40%+40 bps
Liquidity & Funding
Loans / Deposits81.42%78.28%80.50%82.46%78.45%81.35%82.24%83.58%+113 bps
Liquid Assets / Assets0.38%0.33%0.44%0.38%0.46%0.40%0.34%0.35%-2 bps
CRE / Total Capitaln/an/an/an/a254%268%262%n/an/a