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Farmers & Merchants Bank

Eatonton, GA · Cert 9069 · Putnam-Greene Financial Corp.

State charter, non-member · FDIC · 3 affiliate banks · 2 branches (7 in holding)

Q2 2026

$289.6MAssets
$142.6MLoans
$258.6MDeposits
$28.7MEquity
Loan mix
93%RE $112.9M2%C&I $2.4M5%Consumer $6.6MQ2 2025Q2 2026
Deposit mix
63%Interest-bearing $162.1M37%Noninterest $96.5MQ2 2025Q2 2026

NIM

4.02%Q2 ’244.54%Q2 ’254.43%Q2 ’26+12%+9%

Non-interest income vs. expense

2.03%Q2 ’241.73%Q2 ’252.11%Q2 ’26-15%+25%

Executive Summary

  • Earnings: ROA of 0.73%, down 19 bps year over year; NIM at 2.90%.
  • Asset quality: problem loans at 0.74% of loans (+57 bps YoY), with net recoveries of 0.13%.
  • Capital: tier 1 leverage ratio of 11.20%, up 177 bps from a year ago.
  • Funding: loans stand at 55.17% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.73%-19 bps YoY

Net Interest Margin (quarter, annualized)

2.90%+24 bps YoY

Efficiency Ratio (quarter, annualized)

67.07%+721 bps YoY

Tier 1 Leverage Ratio

11.20%+177 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.92%0.71%0.64%0.37%0.73%-19 bps
Return on Equity12.40%8.53%7.20%4.03%7.54%-486 bps
Net Interest Margin2.66%2.68%2.72%2.61%2.90%+24 bps
Efficiency Ratio59.86%58.54%66.58%79.18%67.07%+721 bps
Non-Interest Burden1.49%1.48%1.72%2.01%1.86%+37 bps
Growth
Asset Growth (YoY)16.54%-2.16%-6.78%-9.66%-8.44%-2,498 bps
Loan Growth (YoY)-1.53%-13.27%-15.38%-12.75%14.55%+1,608 bps
Deposit Growth (YoY)20.83%-3.30%-9.22%-12.20%-10.75%-3,158 bps
Asset Quality
Nonperforming Loans / Loans0.17%1.57%1.06%0.84%0.74%+57 bps
Net Charge-Offs / Loans0.04%-0.07%0.00%-0.10%-0.13%-16 bps
Allowance / Loans1.64%1.76%1.65%1.68%1.49%-15 bps
Allowance Coverage of NPLs9.5x1.1x1.6x2.0x2.0x-7.5x
Capital
Tier 1 Leverage Ratio9.43%10.10%10.74%10.86%11.20%+177 bps
Total Risk-Based Capital20.44%21.21%21.60%21.35%19.76%-68 bps
Equity / Assets7.79%8.80%8.90%9.56%9.91%+213 bps
Liquidity & Funding
Loans / Deposits42.98%43.43%42.46%45.50%55.17%+1,218 bps
Liquid Assets / Assets25.56%23.77%25.58%21.64%12.43%-1,313 bps
CRE / Total Capitaln/a286%284%287%n/an/a