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Farmers & Merchants State Bank, The

Archbold, OH · Cert 5969 · Farmers&Merchants Bcorp Inc.

State charter, non-member · FDIC · 39 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B 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 $1B-$10B in assets (n=322 to 328). 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

41

Q2 2024Q2 2026peer median (50)

Asset Quality

69

Q2 2024Q2 2026peer median (50)

Profitability

47

Q2 2024Q2 2026peer median (50)

Liquidity

53

Q2 2024Q2 2026peer median

Efficiency

61

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 & Merchants State Bank, The

Archbold, OH · Cert 5969 · Farmers&Merchants Bcorp Inc.

State charter, non-member · FDIC · 39 branches

Q2 2026

$3.5BAssets
$2.7BLoans
$2.9BDeposits
$400.8MEquity
Loan mix
85%RE $2.1B13%C&I $0.3B2%Consumer $0.1BQ3 2024Q2 2026
Deposit mix
82%Interest-bearing $2.4B18%Noninterest $0.5BQ3 2024Q2 2026

Market Position · Toledo, OH · 2026 SOD (annual) · 6.7% share · #6 of 22 inst. · $1.1B of $16.1B

51.5% Fulton
31.9% Williams
23.5% Adams
2.2% Allen

Executive Summary

  • Earnings: ROA of 1.28%, up 35 bps year over year; NIM at 3.30%.
  • Asset quality: problem loans at 0.27% of loans (+13 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.44%, up 29 bps from a year ago.
  • Funding: loans stand at 94.24% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.28%+35 bps YoY

Net Interest Margin (YTD, annualized)

3.30%+26 bps YoY

Efficiency Ratio (YTD, annualized)

55.51%-676 bps YoY

Tier 1 Leverage Ratio

9.44%+29 bps YoY

NIM

4.77%Q2 ’244.98%Q2 ’255.03%Q2 ’26+18%+9%

Non-interest income vs. expense

2.03%Q2 ’242.18%Q2 ’252.13%Q2 ’26+8%-9%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.76%0.83%0.88%0.93%0.98%1.03%1.15%1.28%+35 bps
Return on Equity7.32%7.91%8.14%8.54%8.93%9.32%10.12%11.22%+268 bps
Net Interest Margin2.59%2.61%2.96%3.04%3.14%3.16%3.33%3.30%+26 bps
Efficiency Ratio66.23%63.90%63.52%62.27%61.43%59.85%57.62%55.51%-676 bps
Non-Interest Burden1.57%1.52%1.71%1.72%1.76%1.71%1.66%1.57%-15 bps
Growth
Asset Growth (YoY)4.87%2.54%3.07%0.66%0.02%2.04%2.94%4.61%+394 bps
Loan Growth (YoY)0.37%-0.69%1.59%2.81%4.85%5.96%4.00%2.84%+3 bps
Deposit Growth (YoY)4.31%3.07%2.95%2.60%2.51%1.64%4.18%5.88%+328 bps
Asset Quality
Nonperforming Loans / Loans0.11%0.12%0.17%0.14%0.19%0.41%0.41%0.27%+13 bps
Net Charge-Offs / Loans0.01%0.01%0.04%0.02%0.02%0.03%0.02%0.02%-1 bps
Allowance / Loans1.00%1.01%1.02%1.02%1.03%1.02%1.04%1.03%+1 bps
Allowance Coverage of NPLs8.8x8.3x5.9x7.2x5.3x2.5x2.5x3.8x-3.4x
Capital
Tier 1 Leverage Ratio8.74%8.81%9.10%9.16%9.41%9.47%9.57%9.44%+29 bps
Total Risk-Based Capital12.28%12.40%12.40%12.43%12.55%12.53%12.81%12.91%+48 bps
Equity / Assets10.60%10.67%10.86%11.18%11.35%11.46%11.35%11.48%+31 bps
Liquidity & Funding
Loans / Deposits94.48%95.31%95.61%97.03%96.64%99.36%95.45%94.24%-279 bps
Liquid Assets / Assets5.88%3.66%3.75%1.17%2.33%1.60%3.87%3.10%+194 bps
CRE / Total Capitaln/an/an/an/a445%436%419%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 & Merchants State Bank, The

Archbold, OH · Cert 5969 · Peer group: banks $1B-$10B in assets (n=322-328) · Farmers&Merchants Bcorp Inc.

State charter, non-member · FDIC · 39 branches

Q2 2026

$3.5BAssets
$2.7BLoans
$2.9BDeposits
$400.8MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 71% of banks $1B-$10B in assets (rank 94 of 322).
  • Widest gap: tier 1 capital ratio trails 73% of banks $1B-$10B in assets (rank 240 of 328).
  • Overall: at or above the peer median on 5 of 9 directional measures.

Return on Assets

1.27%

Rank 147 of 328

Net Interest Margin

3.30%

Rank 196 of 328

Efficiency Ratio

56.42%

Rank 128 of 328

Equity / Assets

11.48%

Rank 108 of 328

Non-interest income vs. expense

$19.5M$75.1MINCOMEEXPENSE
Unfavorable gap of $55.6M · efficiency ratio beats 61% of banks $1B-$10B in assets
Bank 56.42%Peer median 59.6%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets1.27%0.91%1.22%1.52%Beats 55%147 / 328
Return on Equity11.09%8.43%11.45%14.43%Beats 46%177 / 328
Net Interest Margin3.30%3.03%3.45%3.83%Beats 40%196 / 328
Efficiency Ratio56.42%51.61%59.56%67.53%Beats 61%128 / 328
Asset Quality
Nonperforming Loans / Loans0.27%0.24%0.51%1.03%Beats 71%94 / 322
Net Charge-Offs / Loans0.01%0.01%0.03%0.10%Beats 66%111 / 322
Capital
Tier 1 Capital Ratio11.84%11.75%13.15%15.47%Beats 27%240 / 328
Total Risk-Based Capital Ratio12.91%12.63%14.15%16.46%Beats 29%232 / 328
Equity / Assets11.48%9.15%10.33%12.01%Beats 67%108 / 328
Liquidity & Funding
Loans / Deposits94.24%76.63%87.92%95.36%72nd pctl91 / 323
Loans / Assets77.58%65.18%74.15%79.98%66th pctl112 / 328
Brokered Deposits / Depositsn/aNot reported for this institution