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Farmers & Merchants Bank, The

Stuttgart, AR · Cert 16216 · Farmers&Merchants Bankshares

State charter, Fed member · FED · 21 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating in a single state3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets operating in a single state (n=257 to 258). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

25

Q2 2024Q2 2026peer median (50)

Asset Quality

58

Q2 2024Q2 2026peer median (50)

Profitability

42

Q2 2024Q2 2026peer median (50)

Liquidity

87

Q2 2024Q2 2026peer median

Efficiency

34

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

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

Farmers & Merchants Bank, The

Stuttgart, AR · Cert 16216 · Farmers&Merchants Bankshares

State charter, Fed member · FED · 21 branches

Q2 2026

$2.0BAssets
$1.4BLoans
$1.7BDeposits
$225.4MEquity
Loan mix
82%RE $1.0B14%C&I $0.2B4%Consumer $0.1BQ2 2025Q2 2026
Deposit mix
86%Interest-bearing $1.5B14%Noninterest $0.2BQ2 2025Q2 2026

NIM

4.55%Q2 ’245.08%Q2 ’255.35%Q2 ’26+23%+10%

Non-interest income vs. expense

2.45%Q2 ’242.78%Q2 ’252.75%Q2 ’26-2%+21%

Market Position · Fayetteville-Springdale-Rogers, AR · 2026 SOD (annual) · 2.3% share · #10 of 42 inst. · $0.5B of $20.2B

5.0% Washington
54.5% Arkansas
15.7% Baxter
4.0% Craighead

Executive Summary

  • Earnings: ROA of 1.07%, up 6 bps year over year; NIM at 3.65%.
  • Asset quality: problem loans at 0.39% of loans (+12 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 9.79%, down 4 bps from a year ago.
  • Funding: loans stand at 83.33% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.07%+6 bps YoY

Net Interest Margin (YTD, annualized)

3.65%+32 bps YoY

Efficiency Ratio (YTD, annualized)

63.94%+37 bps YoY

Tier 1 Leverage Ratio

9.79%-4 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.01%1.02%1.02%1.05%1.07%+6 bps
Return on Equity9.29%9.37%9.29%9.45%9.60%+31 bps
Net Interest Margin3.33%3.29%3.36%3.64%3.65%+32 bps
Efficiency Ratio63.56%64.04%63.88%64.41%63.94%+37 bps
Non-Interest Burden1.69%1.75%1.81%2.08%2.05%+36 bps
Growth
Asset Growth (YoY)2.33%6.07%7.75%7.49%6.32%+399 bps
Loan Growth (YoY)6.15%7.08%7.08%6.15%5.86%-29 bps
Deposit Growth (YoY)5.18%9.65%6.98%9.34%11.19%+601 bps
Asset Quality
Nonperforming Loans / Loans0.27%0.23%0.47%0.53%0.39%+12 bps
Net Charge-Offs / Loans0.24%0.16%0.14%0.00%0.01%-24 bps
Allowance / Loans1.20%1.22%1.27%1.27%1.29%+9 bps
Allowance Coverage of NPLs4.5x5.4x2.7x2.4x3.3x-1.1x
Capital
Tier 1 Leverage Ratio9.83%9.57%9.76%9.86%9.79%-4 bps
Total Risk-Based Capital9.83%9.57%9.76%9.86%9.79%-4 bps
Equity / Assets10.85%10.91%11.16%11.11%11.19%+34 bps
Liquidity & Funding
Loans / Deposits87.51%84.18%85.35%81.67%83.33%-419 bps
Liquid Assets / Assets0.12%0.29%0.18%1.63%0.78%+66 bps
CRE / Total Capitaln/a317%314%309%n/an/a

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. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Farmers & Merchants Bank, The

Stuttgart, AR · Cert 16216 · Peer group: banks $1B-$10B in assets operating in a single state (n=257-258) · Farmers&Merchants Bankshares

State charter, Fed member · FED · 21 branches

Q2 2026

$2.0BAssets
$1.4BLoans
$1.7BDeposits
$225.4MEquity

Executive Summary

  • Strongest standing: equity / assets outperforms 64% of banks $1B-$10B in assets operating in a single state (rank 92 of 258).
  • Widest gap: total risk-based capital ratio trails 95% of banks $1B-$10B in assets operating in a single state (rank 244 of 258).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

1.06%

Rank 165 of 258

Net Interest Margin

3.65%

Rank 97 of 258

Efficiency Ratio

64.61%

Rank 171 of 257

Equity / Assets

11.19%

Rank 92 of 258

Non-interest income vs. expense

$14.2M$55.7MINCOMEEXPENSE
Unfavorable gap of $41.5M · efficiency ratio beats 34% of banks $1B-$10B in assets operating in a single state
Bank 64.61%Peer median 60.3%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.06%0.93%1.23%1.54%Beats 36%165 / 258
Return on Equity9.44%9.26%11.84%14.74%Beats 27%189 / 258
Net Interest Margin3.65%3.16%3.49%3.88%Beats 62%97 / 258
Efficiency Ratio64.61%51.71%60.30%69.65%Beats 34%171 / 257
Asset Quality
Nonperforming Loans / Loans0.39%0.19%0.46%0.90%Beats 57%113 / 258
Net Charge-Offs / Loans0.02%0.01%0.02%0.07%Beats 59%106 / 258
Capital
Tier 1 Capital Ratio9.79%11.41%12.98%15.12%Beats 5%244 / 258
Total Risk-Based Capital Ratio9.79%12.10%13.91%16.08%Beats 5%244 / 258
Equity / Assets11.19%9.09%10.24%11.72%Beats 64%92 / 258
Liquidity & Funding
Loans / Deposits83.33%73.24%86.34%95.95%41st pctl153 / 258
Loans / Assets71.08%63.01%72.27%78.40%46th pctl139 / 258
Brokered Deposits / Depositsn/aNot reported for this institution