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Letter portraitLegal landscape

Farmers & Merchants State Bank

Winterset, IA · Cert 15610 · Peer group: banks under $1B in assets in the Des Moines-West Des Moines, IA area (n=18-19) · Farmers&Merchants Bcorp

State charter, non-member · FDIC · 5 branches

Q2 2026

$271.7MAssets
$166.1MLoans
$241.1MDeposits
$26.9MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 100% of banks under $1B in assets in the Des Moines-West Des Moines, IA area (rank 6 of 18).
  • Widest gap: net charge-offs / loans trails 78% of banks under $1B in assets in the Des Moines-West Des Moines, IA area (rank 15 of 18).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

1.18%

Rank 9 of 19

Net Interest Margin

3.49%

Rank 11 of 19

Efficiency Ratio

57.36%

Rank 8 of 19

Equity / Assets

9.89%

Rank 9 of 19

Non-interest income vs. expense

$0.8M$5.8MINCOMEEXPENSE
Unfavorable gap of $4.9M · efficiency ratio beats 63% of banks under $1B in assets in the Des Moines-West Des Moines, IA area
Bank 57.36%Peer median 57.8%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets1.18%1.05%1.15%1.42%Beats 53%9 / 19
Return on Equity11.94%10.97%12.15%13.79%Beats 42%11 / 19
Net Interest Margin3.49%3.08%3.50%3.67%Beats 42%11 / 19
Efficiency Ratio57.36%52.38%57.82%63.73%Beats 63%8 / 19
Asset Quality
Nonperforming Loans / Loans0.00%n/a0.21%0.91%Beats 100%6 / 18
Net Charge-Offs / Loans0.01%0.00%0.01%0.01%Beats 22%15 / 18
Capital
Tier 1 Capital Ratio16.13%10.79%12.38%16.13%Beats 74%5 / 19
Total Risk-Based Capital Ratio17.04%11.60%13.40%17.04%Beats 74%5 / 19
Equity / Assets9.89%8.64%9.66%11.07%Beats 53%9 / 19
Liquidity & Funding
Loans / Deposits68.88%65.91%76.09%88.00%26th pctl14 / 19
Loans / Assets61.11%57.37%63.36%76.16%42nd pctl11 / 19
Brokered Deposits / Depositsn/aNot reported for this institution