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Farmers & Merchants Bank of Central California

Lodi, CA · Cert 1331 · Farmers&Merchants Bcorp

State charter, non-member · FDIC · 31 branches

Q2 2026

$5.8BAssets
$3.7BLoans
$5.1BDeposits
$686.8MEquity
Loan mix
85%RE $2.7B14%C&I $0.5B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
69%Interest-bearing $3.5B31%Noninterest $1.6BQ2 2025Q2 2026

NIM

5.04%Q2 ’244.97%Q2 ’254.98%Q2 ’26+4%+3%

Non-interest income vs. expense

1.80%Q2 ’241.85%Q2 ’251.84%Q2 ’260%+3%

Market Position · Stockton-Lodi, CA · 2026 SOD (annual) · 14.1% share · #4 of 15 inst. · $2.2B of $15.7B

14.1% San Joaquin
9.4% Stanislaus
1.1% Sacramento
0.9% Contra Costa

Executive Summary

  • Earnings: ROA of 1.76%, up 6 bps year over year; NIM at 3.96%.
  • Asset quality: problem loans at 0.13% of loans (+13 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 11.65%, up 45 bps from a year ago.
  • Funding: loans stand at 72.68% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.76%+6 bps YoY

Net Interest Margin (quarter, annualized)

3.96%+11 bps YoY

Efficiency Ratio (quarter, annualized)

42.74%-64 bps YoY

Tier 1 Leverage Ratio

11.65%+45 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.69%1.75%1.74%1.71%1.76%+6 bps
Return on Equity15.20%15.43%15.29%14.93%15.19%-1 bps
Net Interest Margin3.85%3.97%3.95%3.98%3.96%+11 bps
Efficiency Ratio43.38%44.94%43.95%45.52%42.74%-64 bps
Non-Interest Burden1.45%1.51%1.53%1.61%1.49%+4 bps
Growth
Asset Growth (YoY)3.97%3.89%5.88%2.69%6.48%+250 bps
Loan Growth (YoY)-1.60%-2.59%-0.80%0.91%2.21%+381 bps
Deposit Growth (YoY)3.57%4.22%5.93%2.78%6.96%+339 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.03%0.02%0.11%0.13%+13 bps
Net Charge-Offs / Loans0.06%0.10%0.02%0.00%0.02%-4 bps
Allowance / Loans2.10%2.11%2.09%2.13%2.09%-2 bps
Allowance Coverage of NPLsn/a69.8x101.8x19.2x15.6xn/a
Capital
Tier 1 Leverage Ratio11.21%11.21%10.98%11.31%11.65%+45 bps
Total Risk-Based Capital15.39%15.24%15.24%15.65%16.00%+61 bps
Equity / Assets11.49%11.23%11.47%11.37%11.77%+28 bps
Liquidity & Funding
Loans / Deposits76.05%73.47%73.19%70.63%72.68%-338 bps
Liquid Assets / Assets16.93%14.86%14.10%17.59%15.13%-181 bps
CRE / Total Capitaln/a250%252%249%n/an/a