PackageTrendsPeer
Letter portraitLegal landscape

Farmers & Merchants Savings Bank

Manchester, IA · Cert 9298 · Dunn Investment Co.

State charter, Fed member · FED · 7 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 IA3

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 IA (n=134 to 135). 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

61

Q2 2024Q2 2026peer median (50)

Asset Quality

59

Q2 2024Q2 2026peer median (50)

Profitability

46

Q2 2024Q2 2026peer median (50)

Liquidity

61

Q2 2024Q2 2026peer median

Efficiency

63

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 Savings Bank

Manchester, IA · Cert 9298 · Dunn Investment Co.

State charter, Fed member · FED · 7 branches

Q2 2026

$616.8MAssets
$461.2MLoans
$516.0MDeposits
$75.0MEquity
Loan mix
52%RE $198.3M48%C&I $182.9M1%Consumer $2.1MQ2 2025Q2 2026
Deposit mix
74%Interest-bearing $379.4M26%Noninterest $136.7MQ2 2025Q2 2026

NIM

5.29%Q2 ’245.40%Q2 ’255.60%Q2 ’26+6%+13%

Non-interest income vs. expense

2.50%Q2 ’242.61%Q2 ’252.40%Q2 ’26+5%-9%

Market Position · Cedar Rapids, IA · 2026 SOD (annual) · 2.2% share · #10 of 35 inst. · $0.2B of $8.8B

21.6% Delaware
2.1% Linn
0.1% Ramsey
0.8% Anoka

Executive Summary

  • Earnings: ROA of 0.95%, down 14 bps year over year; NIM at 4.24%.
  • Asset quality: problem loans at 1.70% of loans (-47 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 12.41%, down 72 bps from a year ago.
  • Funding: loans stand at 89.37% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.95%-14 bps YoY

Net Interest Margin (YTD, annualized)

4.24%+49 bps YoY

Efficiency Ratio (YTD, annualized)

53.62%-1,168 bps YoY

Tier 1 Leverage Ratio

12.41%-72 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.09%0.50%0.60%0.92%0.95%-14 bps
Return on Equity8.73%4.03%4.84%7.12%7.51%-122 bps
Net Interest Margin3.76%3.99%4.06%4.31%4.24%+49 bps
Efficiency Ratio65.30%61.89%65.44%59.52%53.62%-1,168 bps
Non-Interest Burden2.37%2.37%2.56%2.46%2.16%-21 bps
Growth
Asset Growth (YoY)1.72%-2.39%-1.66%-0.79%3.76%+205 bps
Loan Growth (YoY)-3.22%0.79%2.38%3.63%14.28%+1,750 bps
Deposit Growth (YoY)2.69%-1.05%0.10%0.76%0.36%-233 bps
Asset Quality
Nonperforming Loans / Loans2.17%0.79%0.36%1.64%1.70%-47 bps
Net Charge-Offs / Loans0.01%1.31%1.23%-0.02%-0.01%-2 bps
Allowance / Loans1.92%1.94%1.57%1.80%2.09%+17 bps
Allowance Coverage of NPLs0.9x2.5x4.4x1.1x1.2x+0.3x
Capital
Tier 1 Leverage Ratio13.13%12.51%12.73%13.17%12.41%-72 bps
Total Risk-Based Capital17.16%16.35%15.29%16.79%14.92%-224 bps
Equity / Assets12.80%11.91%12.79%12.96%12.17%-64 bps
Liquidity & Funding
Loans / Deposits78.48%76.34%84.59%84.80%89.37%+1,089 bps
Liquid Assets / Assets7.61%6.57%1.63%1.49%1.29%-633 bps
CRE / Total Capitaln/a163.78%162.21%162.86%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 Savings Bank

Manchester, IA · Cert 9298 · Peer group: banks under $1B in assets in IA (n=134-135) · Dunn Investment Co.

State charter, Fed member · FED · 7 branches

Q2 2026

$616.8MAssets
$461.2MLoans
$516.0MDeposits
$75.0MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets in IA (rank 45 of 134).
  • Widest gap: nonperforming loans / loans trails 83% of banks under $1B in assets in IA (rank 112 of 134).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

0.93%

Rank 101 of 135

Net Interest Margin

4.24%

Rank 9 of 135

Efficiency Ratio

53.62%

Rank 51 of 135

Equity / Assets

12.17%

Rank 47 of 135

Non-interest income vs. expense

$1.5M$14.8MINCOMEEXPENSE
Unfavorable gap of $13.3M · efficiency ratio beats 63% of banks under $1B in assets in IA
Bank 53.62%Peer median 57.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.93%0.92%1.19%1.47%Beats 25%101 / 135
Return on Equity7.61%7.99%10.26%13.14%Beats 21%106 / 135
Net Interest Margin4.24%2.95%3.41%3.73%Beats 93%9 / 135
Efficiency Ratio53.62%50.61%57.35%63.29%Beats 63%51 / 135
Asset Quality
Nonperforming Loans / Loans1.70%0.03%0.51%1.26%Beats 17%112 / 134
Net Charge-Offs / Loans0.00%n/a0.01%0.03%Beats 100%45 / 134
Capital
Tier 1 Capital Ratio13.66%11.23%13.31%15.45%Beats 56%59 / 135
Total Risk-Based Capital Ratio14.92%11.61%14.06%16.47%Beats 63%50 / 135
Equity / Assets12.17%9.87%11.05%13.07%Beats 65%47 / 135
Liquidity & Funding
Loans / Deposits89.37%68.54%81.55%91.24%67th pctl44 / 134
Loans / Assets74.77%57.61%68.06%76.23%70th pctl41 / 135
Brokered Deposits / Depositsn/aNot reported for this institution