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Farmers and Merchants Bank

Baldwyn, MS · Cert 15801 · FMB Bancshares Inc.

State charter, Fed member · FED · 11 branches

Q2 2026

$565.8MAssets
$353.2MLoans
$481.2MDeposits
$76.2MEquity
Loan mix
79%RE $260.1M10%C&I $33.5M11%Consumer $35.9MQ2 2025Q2 2026
Deposit mix
83%Interest-bearing $400.5M17%Noninterest $80.7MQ2 2025Q2 2026

NIM

5.76%Q2 ’245.88%Q2 ’255.98%Q2 ’26+2%+5%

Non-interest income vs. expense

3.06%Q2 ’243.04%Q2 ’253.13%Q2 ’26-25%+35%

Executive Summary

  • Earnings: ROA of 1.77%, down 34 bps year over year; NIM at 4.37%.
  • Asset quality: problem loans at 1.69% of loans (+43 bps YoY), with net charge-offs at 0.25%.
  • Capital: tier 1 leverage ratio of 14.19%, up 62 bps from a year ago.
  • Funding: loans stand at 73.40% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.77%-34 bps YoY

Net Interest Margin (quarter, annualized)

4.37%+20 bps YoY

Efficiency Ratio (quarter, annualized)

57.15%+385 bps YoY

Tier 1 Leverage Ratio

14.19%+62 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets2.11%2.07%0.01%1.77%1.77%-34 bps
Return on Equity16.99%15.39%0.08%13.30%13.41%-358 bps
Net Interest Margin4.17%4.50%4.60%4.30%4.37%+20 bps
Efficiency Ratio53.30%55.32%76.87%59.34%57.15%+385 bps
Non-Interest Burden1.51%1.93%3.26%2.14%2.03%+52 bps
Growth
Asset Growth (YoY)-1.76%-0.56%-1.12%1.36%7.14%+891 bps
Loan Growth (YoY)6.29%8.56%7.81%3.31%8.05%+176 bps
Deposit Growth (YoY)3.62%5.25%4.00%6.85%6.53%+291 bps
Asset Quality
Nonperforming Loans / Loans1.26%0.98%1.58%1.52%1.69%+43 bps
Net Charge-Offs / Loans0.18%0.16%1.04%0.09%0.25%+7 bps
Allowance / Loans2.19%2.05%2.28%2.30%2.19%-1 bps
Allowance Coverage of NPLs1.7x2.1x1.4x1.5x1.3x-0.4x
Capital
Tier 1 Leverage Ratio13.57%14.69%14.38%14.07%14.19%+62 bps
Total Risk-Based Capital13.57%14.69%14.38%14.07%14.19%+62 bps
Equity / Assets12.97%13.89%13.70%12.88%13.46%+49 bps
Liquidity & Funding
Loans / Deposits72.37%76.88%78.38%70.34%73.40%+103 bps
Liquid Assets / Assets3.35%2.36%1.46%9.84%7.93%+458 bps
CRE / Total Capitaln/a157.15%166.68%161.55%n/an/a