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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 $3.5MQ3 2024Q2 2026
Deposit mix
68%Interest-bearing $42.2M32%Noninterest $20.3MQ3 2024Q2 2026

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.

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

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%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.93%1.03%1.01%1.07%1.10%1.06%0.92%0.89%-19 bps
Return on Equity14.99%16.30%14.24%14.83%14.83%14.19%11.93%11.49%-334 bps
Net Interest Margin3.72%3.76%3.86%3.93%3.93%3.84%3.96%3.75%-18 bps
Efficiency Ratio72.11%69.34%72.01%70.60%69.94%70.15%70.09%72.06%+146 bps
Non-Interest Burden2.49%2.40%2.61%2.60%2.57%2.52%2.60%2.54%-6 bps
Growth
Asset Growth (YoY)-0.07%-2.64%-2.94%2.27%3.86%12.76%14.14%11.08%+881 bps
Loan Growth (YoY)4.84%5.57%2.77%1.18%4.11%2.38%0.07%1.49%+31 bps
Deposit Growth (YoY)-6.45%0.43%0.65%5.04%11.93%13.76%13.96%10.49%+545 bps
Asset Quality
Nonperforming Loans / Loans2.49%2.23%1.98%2.18%0.51%1.05%1.06%1.07%-111 bps
Net Charge-Offs / Loans0.08%0.11%0.01%0.06%0.01%0.00%0.44%0.25%+19 bps
Allowance / Loans1.97%1.93%1.89%1.94%1.96%1.99%1.90%1.95%+1 bps
Allowance Coverage of NPLs0.8x0.9x1.0x0.9x3.9x1.9x1.8x1.8x+0.9x
Capital
Tier 1 Leverage Ratio11.56%12.00%11.78%11.78%11.64%11.53%10.97%10.71%-106 bps
Total Risk-Based Capital17.52%18.17%18.24%18.63%18.53%18.75%18.79%18.78%+15 bps
Equity / Assets7.35%6.87%7.36%7.45%7.84%7.90%7.59%7.65%+20 bps
Liquidity & Funding
Loans / Deposits53.67%51.75%52.97%49.75%49.92%46.58%46.51%45.70%-405 bps
Liquid Assets / Assets0.27%1.01%0.75%0.46%0.52%0.85%1.04%0.22%-24 bps
CRE / Total Capitaln/an/an/an/a141.54%138.83%136.46%n/an/a