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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 $1.3MQ3 2024Q2 2026
Deposit mix
91%Interest-bearing $150.2M9%Noninterest $14.9MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.40%, up 25 bps year over year; NIM at 3.17%.
  • 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.

Return on Assets (YTD, annualized)

1.40%+25 bps YoY

Net Interest Margin (YTD, annualized)

3.17%-5 bps YoY

Efficiency Ratio (YTD, annualized)

39.23%-726 bps YoY

Tier 1 Leverage Ratio

11.08%-76 bps YoY

NIM

6.20%Q2 ’246.10%Q2 ’256.02%Q2 ’26-16%-1%

Non-interest income vs. expense

1.63%Q2 ’241.61%Q2 ’251.35%Q2 ’260%-19%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.54%1.48%1.16%1.15%1.25%1.30%1.33%1.40%+25 bps
Return on Equity12.49%12.09%9.52%9.61%10.57%11.01%11.68%12.43%+282 bps
Net Interest Margin3.56%3.39%3.17%3.22%3.18%3.16%3.20%3.17%-5 bps
Efficiency Ratio40.23%41.81%45.58%46.49%44.06%43.52%40.46%39.23%-726 bps
Non-Interest Burden1.51%1.50%1.52%1.57%1.46%1.44%1.32%1.26%-30 bps
Growth
Asset Growth (YoY)21.35%14.00%9.87%14.02%7.91%12.62%18.77%14.69%+67 bps
Loan Growth (YoY)14.61%13.90%13.13%13.30%16.58%21.44%20.23%17.69%+439 bps
Deposit Growth (YoY)31.08%19.91%14.10%13.64%5.59%11.60%19.90%18.37%+472 bps
Asset Quality
Nonperforming Loans / Loans0.37%0.56%0.53%1.14%0.68%0.64%0.57%0.19%-95 bps
Net Charge-Offs / Loans0.00%0.01%0.00%0.00%0.00%0.00%0.01%0.00%0 bps
Allowance / Loans0.97%1.00%1.06%1.08%1.01%0.99%1.04%1.08%0 bps
Allowance Coverage of NPLs2.6x1.8x2.0x0.9x1.5x1.5x1.8x5.8x+4.9x
Capital
Tier 1 Leverage Ratio11.72%11.54%12.21%11.84%11.65%11.70%11.56%11.08%-76 bps
Total Risk-Based Capital16.05%16.13%16.96%16.03%14.90%14.46%15.22%14.97%-106 bps
Equity / Assets11.56%11.90%12.52%11.56%11.54%11.45%11.41%11.03%-53 bps
Liquidity & Funding
Loans / Deposits104.99%107.23%109.94%108.94%115.92%116.69%110.24%108.32%-62 bps
Liquid Assets / Assets15.67%13.73%13.96%15.25%9.91%7.74%11.91%13.73%-151 bps
CRE / Total Capitaln/an/an/an/a33.48%29.49%30.59%n/an/a