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Farmers State Bank, Inc.

Booneville, KY · Cert 5838 · Middlefork Financial Group Inc.

State charter, non-member · FDIC · 2 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in KY3

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 in KY (n=69). 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

57

Q2 2024Q2 2026peer median (50)

Asset Quality

18

Q2 2024Q2 2026peer median (50)

Profitability

42

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

25

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, Inc.

Booneville, KY · Cert 5838 · Middlefork Financial Group Inc.

State charter, non-member · FDIC · 2 affiliate banks · 2 branches (7 in holding)

Q2 2026

$69.3MAssets
$28.6MLoans
$62.5MDeposits
$5.3MEquity
Loan mix
78%RE $20.9M9%C&I $2.5M13%Consumer $3.5MQ2 2025Q2 2026
Deposit mix
68%Interest-bearing $42.2M32%Noninterest $20.3MQ2 2025Q2 2026

NIM

4.47%Q2 ’244.73%Q2 ’254.60%Q2 ’26+11%-5%

Non-interest income vs. expense

3.03%Q2 ’243.20%Q2 ’253.13%Q2 ’26+8%-2%

Executive Summary

  • Earnings: ROA of 0.89%, down 19 bps year over year; NIM at 3.75%.
  • Asset quality: problem loans at 1.07% of loans (-111 bps YoY), with net charge-offs at 0.25%.
  • Capital: tier 1 leverage ratio of 10.71%, down 106 bps from a year ago.
  • Funding: loans stand at 45.70% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.89%-19 bps YoY

Net Interest Margin (YTD, annualized)

3.75%-18 bps YoY

Efficiency Ratio (YTD, annualized)

72.06%+146 bps YoY

Tier 1 Leverage Ratio

10.71%-106 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.07%1.10%1.06%0.92%0.89%-19 bps
Return on Equity14.83%14.83%14.19%11.93%11.49%-334 bps
Net Interest Margin3.93%3.93%3.84%3.96%3.75%-18 bps
Efficiency Ratio70.60%69.94%70.15%70.09%72.06%+146 bps
Non-Interest Burden2.60%2.57%2.52%2.60%2.54%-6 bps
Growth
Asset Growth (YoY)2.27%3.86%12.76%14.14%11.08%+881 bps
Loan Growth (YoY)1.18%4.11%2.38%0.07%1.49%+31 bps
Deposit Growth (YoY)5.04%11.93%13.76%13.96%10.49%+545 bps
Asset Quality
Nonperforming Loans / Loans2.18%0.51%1.05%1.06%1.07%-111 bps
Net Charge-Offs / Loans0.06%0.01%0.00%0.44%0.25%+19 bps
Allowance / Loans1.94%1.96%1.99%1.90%1.95%+1 bps
Allowance Coverage of NPLs0.9x3.9x1.9x1.8x1.8x+0.9x
Capital
Tier 1 Leverage Ratio11.78%11.64%11.53%10.97%10.71%-106 bps
Total Risk-Based Capital18.63%18.53%18.75%18.79%18.78%+15 bps
Equity / Assets7.45%7.84%7.90%7.59%7.65%+20 bps
Liquidity & Funding
Loans / Deposits49.75%49.92%46.58%46.51%45.70%-405 bps
Liquid Assets / Assets0.46%0.52%0.85%1.04%0.22%-24 bps
CRE / Total Capitaln/a141.54%138.83%136.46%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, Inc.

Booneville, KY · Cert 5838 · Peer group: banks under $1B in assets in KY (n=69) · Middlefork Financial Group Inc.

State charter, non-member · FDIC · 2 affiliate banks · 2 branches (7 in holding)

Q2 2026

$69.3MAssets
$28.6MLoans
$62.5MDeposits
$5.3MEquity

Executive Summary

  • Strongest standing: tier 1 capital ratio outperforms 78% of banks under $1B in assets in KY (rank 15 of 69).
  • Widest gap: net charge-offs / loans trails 94% of banks under $1B in assets in KY (rank 66 of 69).
  • Overall: at or above the peer median on 3 of 9 directional measures.

Return on Assets

0.88%

Rank 49 of 69

Net Interest Margin

3.75%

Rank 34 of 69

Efficiency Ratio

72.06%

Rank 53 of 69

Equity / Assets

7.65%

Rank 58 of 69

Non-interest income vs. expense

$0.4M$2.3MINCOMEEXPENSE
Unfavorable gap of $1.8M · efficiency ratio beats 25% of banks under $1B in assets in KY
Bank 72.06%Peer median 63.0%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.88%0.83%1.18%1.44%Beats 29%49 / 69
Return on Equity11.48%7.64%11.70%15.70%Beats 46%37 / 69
Net Interest Margin3.75%3.45%3.75%3.96%Beats 51%34 / 69
Efficiency Ratio72.06%55.32%62.99%70.80%Beats 25%53 / 69
Asset Quality
Nonperforming Loans / Loans1.07%0.18%0.52%1.14%Beats 29%50 / 69
Net Charge-Offs / Loans0.22%0.01%0.02%0.06%Beats 6%66 / 69
Capital
Tier 1 Capital Ratio17.53%11.33%13.58%16.27%Beats 78%15 / 69
Total Risk-Based Capital Ratio18.78%11.55%14.43%17.27%Beats 78%15 / 69
Equity / Assets7.65%8.31%9.91%12.53%Beats 16%58 / 69
Liquidity & Funding
Loans / Deposits45.70%71.40%81.07%88.03%6th pctl65 / 69
Loans / Assets41.20%61.10%68.66%76.68%7th pctl64 / 69
Brokered Deposits / Depositsn/aNot reported for this institution