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F & M Bank

Watertown, SD · Cert 15289

FDIC · 175 branches

Q4 2021

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 2021, the quarter ended December 31, 2021, 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

F & M Bank

Watertown, SD · Cert 15289

FDIC · 175 branches

Q4 2021

$13.3BAssets
$8.1BLoans
$11.8BDeposits
$1.3BEquity
Loan mix
76%RE $3.5B23%C&I $1.1B1%Consumer $0.0BQ4 2020Q4 2021
Deposit mix
75%Interest-bearing $8.9B25%Noninterest $2.9BQ4 2020Q4 2021

NIM

4.25%Q4 ’193.81%Q4 ’203.08%Q4 ’21-5%-12%

Non-interest income vs. expense

1.67%Q4 ’197.87%Q4 ’201.79%Q4 ’21+558%-84%

Market Position · Omaha-Council Bluffs, NE-IA · 2021 SOD (annual) · 4.4% share · #6 of 72 inst. · $1.6B of $36.8B

4.2% Douglas
5.1% Polk
0.4% Minnehaha
34.0% Codington

Executive Summary

  • Earnings: ROA of 1.61%, up 689 bps year over year; NIM at 2.95%.
  • Asset quality: problem loans at 1.96% of loans (-111 bps YoY), with net charge-offs at 0.33%.
  • Capital: tier 1 leverage ratio of 10.68%, up 99 bps from a year ago.
  • Funding: loans stand at 69.00% of deposits as of Q4 2021.

Financial Results

Return on Assets (YTD, annualized)

1.61%+689 bps YoY

Net Interest Margin (YTD, annualized)

2.95%-42 bps YoY

Efficiency Ratio (YTD, annualized)

51.13%-904 bps YoY

Tier 1 Leverage Ratio

10.68%+99 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2020Q1 2021Q2 2021Q3 2021Q4 2021YoY ΔTrend
Earnings
Return on Assets-5.28%1.66%1.76%1.73%1.61%+689 bps
Return on Equity-49.56%18.60%19.38%18.65%17.20%+6,676 bps
Net Interest Margin3.37%3.24%3.07%3.04%2.95%-42 bps
Efficiency Ratio60.17%46.89%48.33%50.62%51.13%-904 bps
Non-Interest Burden8.04%1.25%1.21%1.28%1.25%-679 bps
Growth
Asset Growth (YoY)-0.30%5.01%0.97%2.52%4.14%+443 bps
Loan Growth (YoY)-1.12%-7.04%-17.80%-18.77%-14.54%-1,341 bps
Deposit Growth (YoY)12.24%13.57%3.38%2.66%3.34%-890 bps
Asset Quality
Nonperforming Loans / Loans3.07%3.16%2.48%2.42%1.96%-111 bps
Net Charge-Offs / Loans0.67%0.35%0.31%0.28%0.33%-34 bps
Allowance / Loans3.24%3.28%3.19%3.01%2.91%-34 bps
Allowance Coverage of NPLs1.1x1.0x1.3x1.2x1.5x+0.4x
Capital
Tier 1 Leverage Ratio9.69%9.98%10.14%10.59%10.68%+99 bps
Total Risk-Based Capital13.92%14.76%15.64%16.10%16.24%+233 bps
Equity / Assets8.87%8.95%9.44%9.87%9.73%+86 bps
Liquidity & Funding
Loans / Deposits83.44%77.71%73.29%72.18%69.00%-1,443 bps
Liquid Assets / Assets6.54%9.50%13.82%13.78%16.30%+976 bps
CRE / Total Capitaln/an/an/an/an/an/an/a