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First Farmers & Merchants National Bank

Fairmont, MN · Cert 33131 · 215 Holding Co.

National charter · OCC · 5 affiliate banks · 2 branches (24 in holding)

Q2 2026

$140.4MAssets
$116.5MLoans
$115.4MDeposits
$13.9MEquity
Loan mix
79%RE $77.2M16%C&I $16.0M4%Consumer $4.2MQ2 2025Q2 2026
Deposit mix
85%Interest-bearing $98.1M15%Noninterest $17.3MQ2 2025Q2 2026

NIM

5.72%Q2 ’245.91%Q2 ’256.06%Q2 ’26+10%+9%

Non-interest income vs. expense

2.78%Q2 ’242.79%Q2 ’252.81%Q2 ’26-4%+0%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 0.0% share · #115 of 125 inst. · $0.0B of $253.2B

6.8% Martin
0.1% Ramsey

Executive Summary

  • Earnings: ROA of 1.10%, up 31 bps year over year; NIM at 4.18%.
  • Asset quality: problem loans at 0.06% of loans (-17 bps YoY), with net charge-offs at 0.03%.
  • Capital: tier 1 leverage ratio of 10.59%, down 44 bps from a year ago.
  • Funding: loans stand at 101.02% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.10%+31 bps YoY

Net Interest Margin (quarter, annualized)

4.18%+35 bps YoY

Efficiency Ratio (quarter, annualized)

62.84%-496 bps YoY

Tier 1 Leverage Ratio

10.59%-44 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.79%0.71%0.88%0.96%1.10%+31 bps
Return on Equity8.05%7.23%9.28%10.13%11.28%+324 bps
Net Interest Margin3.84%3.91%3.89%3.86%4.18%+35 bps
Efficiency Ratio67.80%66.35%65.34%62.95%62.84%-496 bps
Non-Interest Burden2.51%2.51%2.46%2.36%2.52%+1 bps
Growth
Asset Growth (YoY)-4.57%-2.74%5.20%8.32%7.22%+1,179 bps
Loan Growth (YoY)-3.77%-0.66%4.82%9.54%7.32%+1,109 bps
Deposit Growth (YoY)5.54%4.87%9.39%7.83%4.05%-150 bps
Asset Quality
Nonperforming Loans / Loans0.24%0.20%0.17%0.34%0.06%-17 bps
Net Charge-Offs / Loans0.02%0.00%0.13%0.37%0.03%+2 bps
Allowance / Loans1.31%1.33%1.32%1.16%1.19%-12 bps
Allowance Coverage of NPLs5.5x6.8x7.6x3.4x18.7x+13.2x
Capital
Tier 1 Leverage Ratio11.03%10.73%10.42%10.07%10.59%-44 bps
Total Risk-Based Capital13.42%13.17%13.34%12.64%13.04%-39 bps
Equity / Assets9.89%9.65%9.33%9.52%9.92%+3 bps
Liquidity & Funding
Loans / Deposits97.93%97.22%91.31%99.07%101.02%+309 bps
Liquid Assets / Assets3.43%4.75%9.77%2.97%3.20%-23 bps
CRE / Total Capitaln/a231%211%229%n/an/a