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Farmers State Bank

Victor, MT · Cert 342 · Farmers State Financial Corp.

State charter, Fed member · FED · 10 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets3

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 under $1B in assets (n=581 to 629). 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

27

Q2 2024Q2 2026peer median (50)

Asset Quality

39

Q2 2024Q2 2026peer median (50)

Profitability

51

Q2 2024Q2 2026peer median (50)

Liquidity

95

Q2 2024Q2 2026peer median

Efficiency

38

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 State Bank

Victor, MT · Cert 342 · Farmers State Financial Corp.

State charter, Fed member · FED · 10 branches

Q2 2026

$790.3MAssets
$525.5MLoans
$664.3MDeposits
$53.7MEquity
Loan mix
92%RE $452.8M6%C&I $27.7M3%Consumer $13.7MQ2 2025Q2 2026
Deposit mix
71%Interest-bearing $470.4M29%Noninterest $193.8MQ2 2025Q2 2026

NIM

4.57%Q2 ’244.91%Q2 ’255.14%Q2 ’26+20%+8%

Non-interest income vs. expense

3.07%Q2 ’242.98%Q2 ’253.12%Q2 ’26-5%+2%

Market Position · Missoula, MT · 2026 SOD (annual) · 1.8% share · #8 of 11 inst. · $0.1B of $4.0B

41.6% Ravalli
1.8% Missoula
1.0% Lewis and Clark
0.4% Flathead

Executive Summary

  • Earnings: ROA of 0.77%, up 5 bps year over year; NIM at 3.75%.
  • Asset quality: problem loans at 0.68% of loans (+11 bps YoY), with net charge-offs at 0.04%.
  • Capital: tier 1 leverage ratio of 8.84%, down 29 bps from a year ago.
  • Funding: loans stand at 79.12% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.77%+5 bps YoY

Net Interest Margin (YTD, annualized)

3.75%+29 bps YoY

Efficiency Ratio (YTD, annualized)

72.94%-366 bps YoY

Tier 1 Leverage Ratio

8.84%-29 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.72%0.76%0.76%0.84%0.77%+5 bps
Return on Equity11.95%12.05%11.85%12.21%11.16%-79 bps
Net Interest Margin3.46%3.52%3.51%3.71%3.75%+29 bps
Efficiency Ratio76.60%75.81%75.70%73.10%72.94%-366 bps
Non-Interest Burden2.55%2.56%2.55%2.61%2.60%+5 bps
Growth
Asset Growth (YoY)-0.53%-0.11%6.60%9.47%10.17%+1,070 bps
Loan Growth (YoY)0.74%2.68%5.94%7.91%10.93%+1,019 bps
Deposit Growth (YoY)4.54%5.14%4.80%6.23%4.80%+26 bps
Asset Quality
Nonperforming Loans / Loans0.57%0.35%0.53%0.52%0.68%+11 bps
Net Charge-Offs / Loans0.01%0.02%0.03%0.05%0.04%+4 bps
Allowance / Loans1.38%1.36%1.34%1.33%1.33%-5 bps
Allowance Coverage of NPLs2.4x3.9x2.5x2.5x1.9x-0.5x
Capital
Tier 1 Leverage Ratio9.14%9.23%9.18%9.00%8.84%-29 bps
Total Risk-Based Capital14.25%14.17%14.02%13.97%13.40%-85 bps
Equity / Assets6.37%7.06%6.97%6.83%6.80%+43 bps
Liquidity & Funding
Loans / Deposits74.75%74.35%75.23%76.19%79.12%+437 bps
Liquid Assets / Assets1.78%0.99%0.81%1.14%1.18%-60 bps
CRE / Total Capitaln/a373%378%382%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 State Bank

Victor, MT · Cert 342 · Peer group: banks under $1B in assets (n=581-629) · Farmers State Financial Corp.

State charter, Fed member · FED · 10 branches

Q2 2026

$790.3MAssets
$525.5MLoans
$664.3MDeposits
$53.7MEquity

Executive Summary

  • Strongest standing: return on equity outperforms 62% of banks under $1B in assets (rank 240 of 629).
  • Widest gap: equity / assets trails 96% of banks under $1B in assets (rank 602 of 629).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.76%

Rank 428 of 629

Net Interest Margin

3.75%

Rank 252 of 629

Efficiency Ratio

72.94%

Rank 394 of 629

Equity / Assets

6.80%

Rank 602 of 629

Non-interest income vs. expense

$4.2M$25.2MINCOMEEXPENSE
Unfavorable gap of $21.0M · efficiency ratio beats 38% of banks under $1B in assets
Bank 72.94%Peer median 67.8%Q1 2025Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.76%0.60%1.01%1.45%Beats 32%428 / 629
Return on Equity11.17%5.38%9.30%13.28%Beats 62%240 / 629
Net Interest Margin3.75%3.03%3.54%4.05%Beats 60%252 / 629
Efficiency Ratio72.94%58.35%67.79%79.08%Beats 38%394 / 629
Asset Quality
Nonperforming Loans / Loans0.68%0.09%0.46%1.20%Beats 39%354 / 581
Net Charge-Offs / Loans0.03%n/a0.01%0.06%Beats 38%365 / 581
Capital
Tier 1 Capital Ratio12.15%11.24%13.84%18.77%Beats 35%410 / 629
Total Risk-Based Capital Ratio13.40%11.58%14.43%19.66%Beats 42%366 / 629
Equity / Assets6.80%9.09%10.65%13.80%Beats 4%602 / 629
Liquidity & Funding
Loans / Deposits79.12%67.24%80.90%93.48%47th pctl312 / 594
Loans / Assets66.50%53.31%67.71%78.15%48th pctl330 / 629
Brokered Deposits / Depositsn/aNot reported for this institution