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Farmers and Merchants Bank, The

Boswell, IN · Cert 1843 · Farmers&Merchants Bcorp the

State charter, non-member · FDIC · 4 branches

Q2 2026

$213.4MAssets
$142.1MLoans
$194.0MDeposits
$18.0MEquity
Loan mix
82%RE $82.5M16%C&I $16.3M1%Consumer $1.3MQ2 2025Q2 2026
Deposit mix
84%Interest-bearing $162.8M16%Noninterest $31.2MQ2 2025Q2 2026

NIM

4.03%Q2 ’244.46%Q2 ’254.66%Q2 ’26+16%+10%

Non-interest income vs. expense

2.47%Q2 ’242.57%Q2 ’252.65%Q2 ’26-14%+27%

Market Position · Lafayette-West Lafayette, IN · 2026 SOD (annual) · 4.1% share · #7 of 20 inst. · $0.2B of $4.7B

47.0% Benton
28.6% Warren
0.6% Tippecanoe

Executive Summary

  • Earnings: ROA of 0.85%, down 10 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.01% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.12%, up 44 bps from a year ago.
  • Funding: loans stand at 73.28% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.85%-10 bps YoY

Net Interest Margin (quarter, annualized)

3.39%+31 bps YoY

Efficiency Ratio (quarter, annualized)

71.33%+414 bps YoY

Tier 1 Leverage Ratio

9.12%+44 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.95%0.85%0.60%0.75%0.85%-10 bps
Return on Equity12.60%10.66%7.34%9.13%10.25%-235 bps
Net Interest Margin3.09%3.20%3.11%3.23%3.39%+31 bps
Efficiency Ratio67.19%70.91%80.03%74.63%71.33%+414 bps
Non-Interest Burden1.83%2.16%2.43%2.33%2.33%+50 bps
Growth
Asset Growth (YoY)0.71%-0.43%1.49%2.49%3.41%+270 bps
Loan Growth (YoY)12.56%9.94%10.12%8.58%4.49%-807 bps
Deposit Growth (YoY)-0.15%0.48%0.70%1.51%3.19%+334 bps
Asset Quality
Nonperforming Loans / Loans0.01%0.01%0.01%0.01%0.01%0 bps
Net Charge-Offs / Loans-0.01%0.00%-0.01%-0.01%0.00%+1 bps
Allowance / Loans1.16%1.14%1.13%1.14%1.15%-1 bps
Allowance Coverage of NPLs105.3x113.1x114.9x124.1x90.8x-14.4x
Capital
Tier 1 Leverage Ratio8.68%8.92%8.92%8.87%9.12%+44 bps
Total Risk-Based Capital13.55%13.70%13.72%13.91%14.04%+50 bps
Equity / Assets7.74%8.21%8.18%8.19%8.43%+69 bps
Liquidity & Funding
Loans / Deposits72.36%77.37%77.34%72.16%73.28%+91 bps
Liquid Assets / Assets7.39%6.89%6.41%5.62%5.95%-144 bps
CRE / Total Capitaln/a102.66%104.77%102.41%n/an/a