Farmers State Bank of Underwood: how it compares with its peers
Against 92 MN banks with half to twice its assets, Farmers State Bank of Underwood's strongest measure in Q2 2026 is net interest margin (4.77% vs. a 4.12% peer median). Its weakest relative measure is assets per employee ($6.7M vs. $7.1M).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.66% | 1.23% | Top third Ahead of 76% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.77% | 4.12% | Top third Ahead of 85% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 60.80% | 61.53% | Middle third Ahead of 53% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.7M | $7.1M | Middle third Ahead of 46% of peers |
| Loans to deposits Net loans and leases over total deposits. | 81.47% | 79.00% | Context |
What it means for lending operations
Its efficiency ratio of 60.80% is better than the 61.53% peer median. Banks that already run lean usually find their next gains in loan growth: faster digital applications and fewer borrowers abandoning a slow document chase.
Banks closest in size
- Security State Bank of Aitkin Aitkin, MN · $114M
- Rushford State Bank (Incorporated) Rushford, MN · $115M
- Security State Bank of Wanamingo Wanamingo, MN · $113M
- The First National Bank of Coleraine Coleraine, MN · $112M
- First State Bank of Le Center Le Center, MN · $110M
- Mid-Central National Bank Wadena, MN · $117M
Questions about Farmers State Bank of Underwood
How big is Farmers State Bank of Underwood?
Farmers State Bank of Underwood, established in 1915, is headquartered in Underwood, MN. It reported $114M in total assets in its Q2 2026 FDIC call report and operates 4 offices.
What is Farmers State Bank of Underwood's return on assets?
1.66% annualized in Q2 2026, against a 1.23% median for 92 MN banks with half to twice its assets, ahead of 76% of them.
What is Farmers State Bank of Underwood's efficiency ratio?
60.80% in Q2 2026: it spent about 61 cents in noninterest expense for each dollar of revenue. The peer median is 61.53%, and lower is better.
Is Farmers State Bank of Underwood growing its loans?
Net loans grew 7.6% over the year to Q2 2026, while deposits grew 4.2%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are MN banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Minnesota bank ranked.