The Farmers & Merchants State Bank
The Farmers & Merchants State Bank reported total assets of $3.5 bn at Q2 2026, up 4.6% from a year earlier. That ranks 365th among 497 banks reporting this metric (1 = highest). Its common equity tier 1 ratio was 11.84%, and an estimated 11.09% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Return on equity (ROE): up 1.10 pp on Q1 2026, to 11.22%
- Uninsured share of domestic deposits: down 0.85 pp on Q1 2026, to 11.09%
- Total deposits: up 2.1% on Q1 2026, to $2.9 bn
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about The Farmers & Merchants State Bank?
Its largest one-quarter change in total assets since Q1 2016 was +33.1% between Q4 2018 and Q1 2019, when it absorbed Bank of Geneva. Against its six size peers, its uninsured share of domestic deposits stands out most: 11.09% at Q2 2026, below the peer median of 34.90%. By noncurrent loans to total loans it moved from 154th to 94th among 500 banks between Q1 2026 and Q2 2026 (1 = lowest).
How large is The Farmers & Merchants State Bank?
At Q2 2026 the bank held $3.5 bn of assets. Deposits were $2.9 bn and net loans and leases $2.7 bn, a loan-to-deposit ratio of 93.26%. Securities of $440.9 mn made up 12.6% of assets.
Total assets rose 252.9% between Q1 2016 and Q2 2026, from $989.1 mn.
How much of its funding is uninsured?
An estimated 11.09% of domestic deposits were above the FDIC insurance limit at Q2 2026, -0.85 pp from the previous quarter and -0.80 pp from a year earlier. That share ranks 466th among 500 banks reporting this metric (1 = highest).
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $3.5 bn | +4.6% | 365th of 497 |
| Total deposits | $2.9 bn | +5.9% | 370th of 499 |
| Net loans and leases | $2.7 bn | +2.8% | 347th of 500 |
| Bank equity capital | $400.8 mn | +7.5% | 366th of 498 |
| Common equity tier 1 (CET1) ratio | 11.84% | +0.45 pp | 350th of 448 |
| Tier 1 leverage ratio | 9.44% | +0.29 pp | 376th of 500 |
| Return on equity (ROE) | 11.22% | +2.68 pp | 297th of 500 |
| Net interest margin | 3.54% | +0.31 pp | 283rd of 500 |
| Uninsured share of domestic deposits | 11.09% | -0.80 pp | 466th of 500 |
| Noncurrent loans to total loans | 0.27% | +0.13 pp | 94th of 500 (1 = lowest) |
| Net charge-offs to average loans | 0.02% | -0.01 pp | 120th of 500 (1 = lowest) |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q2 2026. Dashed amber lines mark the mergers and acquisitions listed under Mergers and acquisitions.
- Total assets $3.5bn
- Deposits $2.9bn
- Net loans $2.7bn
Capital and securities
The common equity tier 1 (CET1) ratio was 11.84% at Q2 2026, +0.45 pp from a year earlier. Since Q1 2016 it has ranged from 10.77% (Q4 2023) to 14.26% (Q4 2021). At Q2 2026 the tier 1 leverage ratio was 9.44% and the total risk-based capital ratio 12.91%. The median CET1 ratio of the size peers listed below was 14.27% at Q2 2026.
Available-for-sale securities showed an unrealized loss of $17.6 mn at Q2 2026; the loss narrowed by $6.6 mn from a year earlier.
Capital ratios
- Total capital 13%
- CET1 12%
- Tier 1 leverage 9.4%
Unrealized gains and losses on securities
- Available for sale -$18mn
- Held to maturity $0
Profitability and loan quality
Return on equity was 11.22% for the year to Q2 2026, annualized, with a return on assets of 1.28% and a net interest margin of 3.54%. The margin was +0.31 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 55.51%. Net income for the year to Q2 2026 was $22.2 mn, up 42.1% on the same period a year earlier. The median return on equity of its size peers was 14.38% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.27% of total loans at Q2 2026. Net charge-offs for the year to date were 0.02% of average loans, annualized.
Profitability
- Return on equity 11%
- Net interest margin 3.5%
- Return on assets 1.3%
Compared with banks of similar size
The six banks ranked closest to The Farmers & Merchants State Bank by total assets at Q2 2026, three above and three below where possible.
Among the seven banks in the table at Q2 2026, The Farmers & Merchants State Bank is 4th by total assets. Its CET1 ratio of 11.84% compares with a peer median of 14.27%, its tier 1 leverage ratio of 9.44% compares with a peer median of 10.79%, and its return on equity of 11.22% compares with a peer median of 14.38%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| MVB Bank, Inc | $3.5 bn | not reported | 14.24% | 39.29% | |
| Bank of Ann Arbor | $3.5 bn | 14.27% | 13.82% | 43.99% | |
| First Farmers Bank & Trust Co. | $3.5 bn | 12.82% | 17.35% | 30.24% | |
| The Farmers & Merchants State Bank | $3.5 bn | 11.84% | 11.22% | 11.09% | |
| Cache Valley Bank | $3.5 bn | 12.04% | 19.39% | 54.41% | |
| Ponce Bank | $3.5 bn | 17.87% | 7.44% | 20.09% | |
| Banco do Brasil Americas | $3.5 bn | 23.30% | 14.52% | 30.51% | |
Q2 2026. Peer median (the six banks, excluding this one): CET1 14.27%, return on equity 14.38%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
The Farmers & Merchants State Bank, as reported in its Call Reports.
From Q3 2024 to Q2 2026, total assets rose 3.2% to $3.5 bn, deposits rose 6.9% to $2.9 bn and bank equity capital rose 11.8% to $400.8 mn. Over the same period its full-time equivalent staff went from 446 to 477 and its offices went from 40 to 41.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $3.4 bn | $3.4 bn | $3.4 bn | $3.3 bn | $3.4 bn | $3.4 bn | $3.5 bn | $3.5 bn |
| Total deposits | $2.7 bn | $2.7 bn | $2.7 bn | $2.7 bn | $2.8 bn | $2.7 bn | $2.8 bn | $2.9 bn |
| Bank equity capital | $358.5 mn | $358.1 mn | $367.1 mn | $372.9 mn | $383.9 mn | $392.7 mn | $395.0 mn | $400.8 mn |
| Common equity tier 1 (CET1) ratio | 11.28% | 11.40% | 11.37% | 11.39% | 11.51% | 11.51% | 11.74% | 11.84% |
| Return on equity (ROE) | 7.32% | 7.91% | 8.14% | 8.54% | 8.93% | 9.32% | 10.12% | 11.22% |
| Uninsured share of domestic deposits | 10.54% | 10.36% | 10.67% | 11.89% | 12.72% | 12.78% | 11.94% | 11.09% |
| Full-time equivalent employees | 446 | 473 | 482 | 488 | 476 | 474 | 473 | 477 |
| Number of offices | 40 | 40 | 40 | 40 | 41 | 41 | 41 | 41 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
Figures before and after each event are not like for like.
- . Absorbed Bank of Geneva (FDIC certificate 5775).
- . Absorbed Ossian State Bank (FDIC certificate 1837).
- . Absorbed Perpetual Federal Savings Bank of Urbana (FDIC certificate 28934).
- . Absorbed Peoples Federal Savings and Loan Association (FDIC certificate 29703).
Large one-quarter moves
- Total assets changed by +33.1% in the quarter to 2019-03-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Bank of Geneva.
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 5969
- Federal Reserve RSSD ID
- 214414
- Head office
- Archbold, Ohio
- Holding company
- FARMERS&MERCHANTS BCORP INC (as reported to the FDIC)
- Holding company RSSD ID
- 1134630
- EconoMonitor ID
- EMB-US-000553
Frequently asked questions
What were The Farmers & Merchants State Bank's total assets?
$3.5 bn at Q2 2026, according to its Call Report as published by the FDIC. By total assets it ranks 365th among 497 banks reporting this metric (1 = highest).
Is The Farmers & Merchants State Bank the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 5969). Its holding company, FARMERS&MERCHANTS BCORP INC (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after The Farmers & Merchants State Bank files its Call Report and the FDIC publishes it. This page shows Q2 2026, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 5969, and in the Call Reports filed under RSSD ID 214414 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Uses community bank leverage ratio framework, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.