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Putnam 1st Mercantile Bank

Cookeville, TN · Cert 58079 · First Mercantile Finl Corp.

State charter, non-member · FDIC · 3 branches

Q2 2026

$178.9MAssets
$148.8MLoans
$159.8MDeposits
$17.0MEquity
Loan mix
89%RE $127.4M9%C&I $12.7M2%Consumer $2.8MQ2 2025Q2 2026
Deposit mix
81%Interest-bearing $129.6M19%Noninterest $30.2MQ2 2025Q2 2026

NIM

5.92%Q2 ’246.16%Q2 ’256.26%Q2 ’26+14%+8%

Non-interest income vs. expense

2.17%Q2 ’242.29%Q2 ’252.09%Q2 ’26+5%-8%

Executive Summary

  • Earnings: ROA of 1.71%, up 39 bps year over year; NIM at 4.05%.
  • Asset quality: problem loans at 0.13% of loans (-4 bps YoY), with net charge-offs at 0.10%.
  • Capital: tier 1 leverage ratio of 11.72%, down 100 bps from a year ago.
  • Funding: loans stand at 93.10% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.71%+39 bps YoY

Net Interest Margin (quarter, annualized)

4.05%+30 bps YoY

Efficiency Ratio (quarter, annualized)

47.26%-763 bps YoY

Tier 1 Leverage Ratio

11.72%-100 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.32%1.40%1.51%1.53%1.71%+39 bps
Return on Equity14.16%14.53%15.72%16.25%18.11%+395 bps
Net Interest Margin3.75%3.85%3.89%3.87%4.05%+30 bps
Efficiency Ratio54.88%53.62%51.21%49.68%47.26%-763 bps
Non-Interest Burden1.87%1.88%1.82%1.76%1.72%-15 bps
Growth
Asset Growth (YoY)0.66%4.12%6.71%13.72%16.41%+1,576 bps
Loan Growth (YoY)2.93%5.61%17.42%17.95%19.60%+1,667 bps
Deposit Growth (YoY)-0.48%3.87%5.18%13.57%16.33%+1,680 bps
Asset Quality
Nonperforming Loans / Loans0.17%0.06%0.14%0.22%0.13%-4 bps
Net Charge-Offs / Loans0.02%0.00%0.00%0.00%0.10%+8 bps
Allowance / Loans1.62%1.64%1.54%1.59%1.44%-18 bps
Allowance Coverage of NPLs9.3x26.1x10.9x7.1x10.8x+1.4x
Capital
Tier 1 Leverage Ratio12.72%12.57%11.88%11.68%11.72%-100 bps
Total Risk-Based Capital12.72%12.57%11.88%11.68%11.72%-100 bps
Equity / Assets9.58%9.73%9.52%9.35%9.53%-6 bps
Liquidity & Funding
Loans / Deposits90.55%88.94%93.06%90.29%93.10%+255 bps
Liquid Assets / Assets0.34%2.54%0.00%2.87%1.08%+73 bps
CRE / Total Capitaln/a344%375%372%n/an/a