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Farmers & Merchants State Bank

$100M-$1B Specialty: Commercial WI FDIC cert 13242

Waterloo, WI

3 branches across WI

NEW · Q2 2026 RECAP

Your Quarter, Wrapped

A 35-second highlight reel of your Q2 — the wins worth celebrating and the one signal worth watching, pulled straight from your scorecard data.

Q2 2026 at a glance

  • 1 of 2,643 banks in the $100M-$1B peer group nationwide — 1 of 110 in WI.
  • Deposits +3.8% year over year ($183.0M on the books).
  • Delinquency rate 0.00%.
  • Return on assets 0.92%.
  • Efficiency ratio 70.00% vs a 64.48% peer average.
  • Loan-to-deposit ratio 115.74% vs a 77.95% peer average.

Animation disabled (reduced-motion preference). Full details in the Core Metrics table below.

2643 banks in the $100M-$1B peer group nationally 110 in WI
View $100M-$1B leaderboard (WI) →

Farmers & Merchants State Bank has 1 strength but faces 4 concerns

Key Strengths include matched growth signatures, metrics ranked in the top 10%, and values meaningfully above the tier average.
Key Concerns include matched risk or decline signatures, metrics ranked in the bottom 10%, and values meaningfully below the tier average.

Key Strengths

Areas where this bank excels compared to peers

  • + Credit Quality Leader: Top 26.6% in tier

Key Concerns

Areas that may need attention

  • - Loan-to-Deposit Ratio 37.78% above tier average
  • - ROA 0.40% below tier average
  • - Net Interest Margin 0.50% below tier average
  • - Efficiency Ratio 5.52% above tier average
Get updates when Farmers & Merchants State Bank releases new data →

Core Metrics

As of 2026-Q2

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
Total Assets ? $245.6M
+3.5% YoY +0.0% QoQ
-$141.0M $386.6M
+1.2% YoY
$1.2B
+13.5% YoY
$6.3B
+7.7% YoY
36%
Total Loans ? $211.8M
+5.2% YoY +3.1% QoQ
-$46.5M $258.3M
+1.7% YoY
$860.4M
+13.3% YoY
$3.2B
+9.4% YoY
51%
Total Deposits ? $183.0M
+3.8% YoY -0.4% QoQ
-$143.7M $326.7M
+0.7% YoY
$935.5M
+13.1% YoY
$4.9B
+7.3% YoY
30%
Return on Assets ? 0.92%
+47.8% YoY +13.2% QoQ
-0.40% 1.32%
+10.8% YoY
1.56%
+18.6% YoY
1.30%
+12.1% YoY
29%
Net Interest Margin ? 3.48%
+16.7% YoY +2.8% QoQ
-0.50% 3.99%
+5.0% YoY
3.83%
+8.5% YoY
3.95%
+4.9% YoY
27%
Efficiency Ratio ? 70.00%
-9.5% YoY -3.8% QoQ
+5.52% 64.48%
-3.2% YoY
62.90%
-5.1% YoY
70.05%
+2.5% YoY
30%
Delinquency Rate ? 0.00%
-5.0% YoY -3.0% QoQ
-0.92% 0.92%
+15.7% YoY
0.85%
+12.5% YoY
0.98%
+16.3% YoY
Top 11.7% in tier
Loan-to-Deposit Ratio ? 115.74%
+1.4% YoY +3.5% QoQ
+37.78% 77.95%
+1.0% YoY
87.22%
+0.9% YoY
79.03%
+2.3% YoY
Bottom 1.9% in tier
Non-Interest-Bearing Deposit Share ? 20.30%
+3.8% YoY +7.5% QoQ
-1.73% 22.03%
-0.6% YoY
18.65%
-1.9% YoY
21.98%
-0.6% YoY
47%
Nonperforming Asset Ratio ? 0.00%
-3.3% YoY -0.0% QoQ
-0.67% 0.67%
+16.4% YoY
0.63%
+16.4% YoY
0.69%
+15.8% YoY
Top 10.8% in tier
Tier 1 Capital Ratio ? 11.13%
+0.8% YoY +1.1% QoQ
-4.78% 15.91%
+1.4% YoY
15.02%
+1.5% YoY
17.09%
+0.8% YoY
25%
Non-Interest Income / Assets ? 0.27%
-5.1% YoY +106.5% QoQ
-0.30% 0.57%
+7.6% YoY
2.21%
+12.7% YoY
0.66%
+5.2% YoY
67%

Additional Detail

Deposit mix, loan mix, capital, efficiency, asset quality & profitability · As of 2026-Q2

Deposit Composition

% of total deposits

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
Noninterest-Bearing 20.3%
+0.7pp YoY
+1.4pp QoQ
 -1.9pp 22.1% 18.9% 22.2% 46%
Brokered Deposits 0.1%
-0.1pp YoY
0.0pp QoQ
 -7.7pp 7.9% 9.2% 8.5% 6%

Loan Composition

% of total loans & leases

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
C&I 0.4%
-0.2pp YoY
-0.1pp QoQ
 -11.2pp 11.6% 10.5% 12.5% 2%
CRE 68.4%
+0.1pp YoY
+0.4pp QoQ
 +28.8pp 39.5% 46.4% 41.4% 92%
1-4 Family 27.5%
+0.5pp YoY
-0.1pp QoQ
 -5.1pp 32.6% 32.3% 31.3% 46%
Consumer 0.3%
-0.2pp YoY
-0.1pp QoQ
 -3.8pp 4.1% 2.6% 5.0% 11%

Capital

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
CET1 Ratio n/a n/a 18.8% 15.5% 19.7% n/a
Leverage Ratio 11.1%
+0.1pp YoY
+0.1pp QoQ
 -1.0pp 12.2% 12.6% 12.6% 53%
Total Capital Ratio n/a n/a 19.9% 16.6% 20.8% n/a

Efficiency & Staffing

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
Full-Time Employees 33
0 YoY
+2 (+6.5%) QoQ
 -26 58 134 482 31%
Assets per Employee ($) $7.4M
+3.5% YoY
-6.1% QoQ
 -$76K $7.5M $8.2M $8.8M 60%
Branch Count 3
0 YoY
0 QoQ
 -2 4 9 18 26%

Asset Quality

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
Past Due 90+ Days n/a n/a 0.3% 0.4% 0.4% n/a
Nonaccrual 0.0%
0.0pp YoY
0.0pp QoQ
 -0.9pp 0.9% 0.9% 1.0% 0%
Allowance Coverage 2384.00x
+2.1% YoY
0.0% QoQ
 +2359.85x 24.15x 56.89x 20.23x 100%
Net Charge-off Rate (YTD) -0.0%
0.0pp QoQ
 -0.2pp 0.1% 0.0% 0.2% 13%

Profitability

Metric Current vs Tier Tier Avg State Avg (WI) National Avg Tier Percentile
ROE 8.6%
+2.6pp YoY
+0.9pp QoQ
 -3.6pp 12.2% 11.8% 11.6% 28%
Cost of Funds (YTD) 2.0%
-0.2pp YoY
0.0pp QoQ
 +0.3pp 1.7% 1.8% 1.7% 69%
Net Income ($, YTD) $1.1M
+50.7% YoY
— QoQ
 -$1.4M $2.6M $7.9M $40.4M 30%

Signature Analysis

Composite behavioral patterns that combine multiple metrics to identify what stands out about this bank. Matched signatures only; metric-level callouts appear in the Key Strengths / Key Concerns summary above.

Strengths are growth signatures this bank matches (e.g. Revenue Diversifier, Profitability Leader).
Concerns are risk or decline signatures this bank matches (e.g. Margin Compression, Credit Quality Pressure).

Strengths (1)

Credit Quality Leader

growth
#176 of 659 • Top 26.6% in tier

Best-in-class credit quality (delinquency in bottom 25% of peer group). Conservative underwriting paying off.

Why this signature
Delinquency Rate: 0.00%
(Tier: 0.92%, National: 0.98%)
better than tier avg
659 of 659 Community banks match · 920 nationally
→ Stable +1 banks QoQ | QoQ rank improving

Concerns (0)

No matched concern signatures this quarter

Metric Rankings

See how this bank ranks across all tracked metrics compared to peers.

Strengths are metrics in the top 25% (75th percentile or higher).
Concerns are metrics in the bottom 25% (25th percentile or lower).
Comparing against 2643 peers in $100M-$1B

Top Strengths (2 metrics)

286
Nonperforming Asset Ratio
credit_quality
Value: 0.00%
Peer Median: 0.67%
#286 of 2643 Top 10.8% in $100M-$1B
308
Delinquency Rate
credit_quality
Value: 0.00%
Peer Median: 0.92%
#308 of 2633 Top 11.7% in $100M-$1B

Top Weaknesses (2 metrics)

2595
Loan-to-Deposit Ratio
liquidity
Value: 115.74%
Peer Median: 77.95%
#2595 of 2643 Bottom 1.9% in $100M-$1B
1986
Tier 1 Capital Ratio
capital
Value: 11.13%
Peer Median: 15.91%
#1986 of 2643 Bottom 24.9% in $100M-$1B
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