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Farmers State Bank

Lincolnton, GA · Cert 879 · Lincoln Bancshares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$186.2MAssets
$89.2MLoans
$160.3MDeposits
$25.0MEquity
Loan mix
80%RE $68.2M9%C&I $7.7M11%Consumer $8.9MQ2 2025Q2 2026
Deposit mix
52%Interest-bearing $83.3M48%Noninterest $77.0MQ2 2025Q2 2026

NIM

5.99%Q2 ’245.97%Q2 ’255.66%Q2 ’26-2%-5%

Non-interest income vs. expense

3.59%Q2 ’243.05%Q2 ’252.88%Q2 ’26-12%-10%

Market Position · Augusta-Richmond County, GA-SC · 2026 SOD (annual) · 1.0% share · #16 of 25 inst. · $0.1B of $12.9B

69.0% Lincoln
12.0% Wilkes
4.9% McDuffie

Executive Summary

  • Earnings: ROA of 2.24%, up 1 bps year over year; NIM at 5.06%.
  • Asset quality: problem loans at 0.17% of loans (+3 bps YoY), with net charge-offs at 0.15%.
  • Capital: tier 1 leverage ratio of 15.44%, up 35 bps from a year ago.
  • Funding: loans stand at 55.63% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

2.24%+1 bps YoY

Net Interest Margin (quarter, annualized)

5.06%-26 bps YoY

Efficiency Ratio (quarter, annualized)

50.46%-138 bps YoY

Tier 1 Leverage Ratio

15.44%+35 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets2.23%2.37%2.38%1.94%2.24%+1 bps
Return on Equity18.58%18.46%17.74%14.64%16.78%-180 bps
Net Interest Margin5.32%5.19%5.33%5.01%5.06%-26 bps
Efficiency Ratio51.84%48.58%50.67%56.89%50.46%-138 bps
Non-Interest Burden2.48%2.17%2.36%2.57%2.23%-26 bps
Growth
Asset Growth (YoY)7.76%3.13%-0.47%-0.20%1.21%-655 bps
Loan Growth (YoY)4.65%2.08%5.71%3.30%4.75%+11 bps
Deposit Growth (YoY)8.90%3.44%-2.70%-1.74%-0.27%-917 bps
Asset Quality
Nonperforming Loans / Loans0.14%0.22%0.26%0.13%0.17%+3 bps
Net Charge-Offs / Loans0.10%0.08%0.15%0.16%0.15%+5 bps
Allowance / Loans1.79%1.79%1.74%1.75%1.65%-15 bps
Allowance Coverage of NPLs13.3x8.1x6.8x13.6x9.8x-3.5x
Capital
Tier 1 Leverage Ratio15.10%16.01%15.45%15.91%15.44%+35 bps
Total Risk-Based Capital33.84%34.85%33.12%35.07%32.91%-94 bps
Equity / Assets12.12%13.58%13.24%13.29%13.40%+128 bps
Liquidity & Funding
Loans / Deposits52.96%54.64%54.28%52.17%55.63%+267 bps
Liquid Assets / Assets25.84%23.58%23.39%27.38%23.10%-274 bps
CRE / Total Capitaln/a88.62%92.88%84.00%n/an/a