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Farmers & Merchants Bank

Lakeland, GA · Cert 5716 · Lowndes Bancshares Inc.

State charter, non-member · FDIC · 2 affiliate banks · 6 branches (12 in holding)

Q2 2026

$862.0MAssets
$620.8MLoans
$784.7MDeposits
$74.0MEquity
Loan mix
83%RE $492.1M12%C&I $69.9M5%Consumer $29.2MQ3 2024Q2 2026
Deposit mix
84%Interest-bearing $662.5M16%Noninterest $122.2MQ3 2024Q2 2026

Return on Assets (YTD, annualized)

1.63%+15 bps YoY

Net Interest Margin (YTD, annualized)

4.42%-9 bps YoY

Efficiency Ratio (YTD, annualized)

48.07%-679 bps YoY

Tier 1 Leverage Ratio

9.74%+26 bps YoY

NIM

6.53%Q2 ’246.60%Q2 ’256.28%Q2 ’26+0%-2%

Non-interest income vs. expense

3.03%Q2 ’242.60%Q2 ’252.24%Q2 ’26-9%-16%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Return on Assets1.28%0.74%1.46%1.48%1.58%1.55%1.59%1.63%+15 bps
Net Interest Margin4.48%4.19%4.47%4.51%4.44%4.51%4.44%4.42%-9 bps
Non-Interest Burden2.65%3.00%2.33%2.37%2.06%2.22%2.09%2.00%-37 bps
Loan Growth (YoY)9.99%11.47%13.55%13.55%8.33%13.76%11.16%7.46%-609 bps
Nonperforming Loans / Loans2.96%3.21%2.85%2.76%1.83%1.82%2.22%1.86%-91 bps
Allowance / Loans1.08%1.25%1.20%1.17%1.27%1.17%1.17%1.24%+7 bps
Tier 1 Leverage Ratio9.75%9.14%9.26%9.47%9.56%9.97%9.92%9.74%+26 bps
Equity / Assets8.64%7.55%8.01%8.16%8.57%8.90%8.84%8.58%+43 bps
Liquid Assets / Assets5.60%10.50%8.48%6.87%7.73%4.38%7.84%13.58%+671 bps