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Farmers and Merchants Bank of Kendall

Kendall, WI · Cert 12355

FDIC · 3 branches

Q4 2022

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2022, the quarter ended December 31, 2022, on both parts.

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

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

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 Bank of Kendall

Kendall, WI · Cert 12355

FDIC · 3 branches

Q4 2022

$81.3MAssets
$58.6MLoans
$68.0MDeposits
$13.0MEquity
Loan mix
90%RE $40.4M7%C&I $3.1M3%Consumer $1.3MQ4 2021Q4 2022
Deposit mix
67%Interest-bearing $45.3M33%Noninterest $22.7MQ4 2021Q4 2022

NIM

4.98%Q4 ’204.28%Q4 ’214.18%Q4 ’22-8%+0%

Non-interest income vs. expense

2.53%Q4 ’202.45%Q4 ’212.44%Q4 ’22-6%0%

Executive Summary

  • Earnings: ROA of 1.87%, down 19 bps year over year; NIM at 4.01%.
  • Asset quality: problem loans at 0.72% of loans (-301 bps YoY), with net recoveries of 0.22%.
  • Capital: tier 1 leverage ratio of 15.70%, up 13 bps from a year ago.
  • Funding: loans stand at 86.11% of deposits as of Q4 2022.

Financial Results

Return on Assets (YTD, annualized)

1.87%-19 bps YoY

Net Interest Margin (YTD, annualized)

4.01%0 bps YoY

Efficiency Ratio (YTD, annualized)

51.82%-19 bps YoY

Tier 1 Leverage Ratio

15.70%+13 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2021Q1 2022Q2 2022Q3 2022Q4 2022YoY ΔTrend
Earnings
Return on Assets2.05%1.50%1.59%1.74%1.87%-19 bps
Return on Equity13.07%9.35%9.78%10.60%11.43%-165 bps
Net Interest Margin4.01%3.51%3.64%4.00%4.01%0 bps
Efficiency Ratio52.01%57.08%55.51%53.06%51.82%-19 bps
Non-Interest Burden1.75%1.70%1.71%1.78%1.74%0 bps
Growth
Asset Growth (YoY)1.13%-1.41%-2.41%-4.27%1.08%-5 bps
Loan Growth (YoY)-6.76%-8.03%-4.87%1.48%4.43%+1,119 bps
Deposit Growth (YoY)1.12%-2.05%-2.09%-4.46%2.11%+99 bps
Asset Quality
Nonperforming Loans / Loans3.74%0.86%0.74%0.71%0.72%-301 bps
Net Charge-Offs / Loans0.02%-0.91%-0.43%-0.29%-0.22%-24 bps
Allowance / Loans1.06%1.28%1.22%1.20%1.23%+17 bps
Allowance Coverage of NPLs0.3x1.5x1.6x1.7x1.7x+1.4x
Capital
Tier 1 Leverage Ratio15.56%16.20%16.22%17.27%15.70%+13 bps
Total Risk-Based Capital15.56%16.20%16.22%17.27%15.70%+13 bps
Equity / Assets15.77%16.23%16.66%17.18%15.98%+22 bps
Liquidity & Funding
Loans / Deposits84.20%84.86%90.43%92.70%86.11%+191 bps
Liquid Assets / Assets25.33%26.79%14.12%7.75%17.93%-740 bps
CRE / Total Capitaln/an/an/an/an/an/an/a