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Farmers and Merchants Bank

Milligan, NE · Cert 14275 · FM Group Inc.

State charter, non-member · FDIC · 2 branches

Q2 2026

$215.4MAssets
$178.9MLoans
$165.1MDeposits
$23.8MEquity
Loan mix
85%RE $96.6M14%C&I $15.4M1%Consumer $1.3MQ2 2025Q2 2026
Deposit mix
91%Interest-bearing $150.2M9%Noninterest $14.9MQ2 2025Q2 2026

NIM

6.30%Q2 ’246.21%Q2 ’256.15%Q2 ’26-13%-1%

Non-interest income vs. expense

1.71%Q2 ’241.67%Q2 ’251.34%Q2 ’260%-23%

Executive Summary

  • Earnings: ROA of 1.47%, up 31 bps year over year; NIM at 3.23%.
  • Asset quality: problem loans at 0.19% of loans (-95 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 11.08%, down 76 bps from a year ago.
  • Funding: loans stand at 108.32% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.47%+31 bps YoY

Net Interest Margin (quarter, annualized)

3.23%-5 bps YoY

Efficiency Ratio (quarter, annualized)

38.06%-931 bps YoY

Tier 1 Leverage Ratio

11.08%-76 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.16%1.46%1.40%1.33%1.47%+31 bps
Return on Equity9.62%12.61%12.22%11.68%13.10%+348 bps
Net Interest Margin3.28%3.47%3.45%3.20%3.23%-5 bps
Efficiency Ratio47.37%39.81%42.07%40.46%38.06%-931 bps
Non-Interest Burden1.62%1.44%1.51%1.32%1.24%-38 bps
Growth
Asset Growth (YoY)14.02%7.91%12.62%18.77%14.69%+67 bps
Loan Growth (YoY)13.30%16.58%21.44%20.23%17.69%+439 bps
Deposit Growth (YoY)13.64%5.59%11.60%19.90%18.37%+472 bps
Asset Quality
Nonperforming Loans / Loans1.14%0.68%0.64%0.57%0.19%-95 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.01%0.00%0 bps
Allowance / Loans1.08%1.01%0.99%1.04%1.08%0 bps
Allowance Coverage of NPLs0.9x1.5x1.5x1.8x5.8x+4.9x
Capital
Tier 1 Leverage Ratio11.84%11.65%11.70%11.56%11.08%-76 bps
Total Risk-Based Capital16.03%14.90%14.46%15.22%14.97%-106 bps
Equity / Assets11.56%11.54%11.45%11.41%11.03%-53 bps
Liquidity & Funding
Loans / Deposits108.94%115.92%116.69%110.24%108.32%-62 bps
Liquid Assets / Assets15.25%9.91%7.74%11.91%13.73%-151 bps
CRE / Total Capitaln/a33.48%29.49%30.59%n/an/a