First Farmers & Merchants National Bank: how it compares with its peers
Against 99 MN banks with half to twice its assets, First Farmers & Merchants National Bank's strongest measure in Q2 2026 is assets per employee ($8.8M vs. a $7.1M peer median). Its weakest relative measure is return on assets (1.02% vs. 1.26%).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.02% | 1.26% | Bottom third Ahead of 30% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.17% | 4.02% | Middle third Ahead of 57% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 62.89% | 61.21% | Middle third Ahead of 41% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.8M | $7.1M | Top third Ahead of 78% of peers |
| Loans to deposits Net loans and leases over total deposits. | 99.81% | 79.21% | Context |
What it means for lending operations
Its efficiency ratio of 62.89% is above the 61.21% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Northwoods Bank of Minnesota Park Rapids, MN · $141M
- Valley Premier Bank Hawley, MN · $141M
- Farmers and Merchants State Bank of Springfield Springfield, MN · $140M
- Citizens State Bank Norwood Young America Norwood Young America, MN · $141M
- Security State Bank of Warroad Warroad, MN · $138M
- The First National Bank of Cokato Cokato, MN · $138M
Questions about First Farmers & Merchants National Bank
How big is First Farmers & Merchants National Bank?
First Farmers & Merchants National Bank, established in 1990, is headquartered in Fairmont, MN. It reported $140M in total assets in its Q2 2026 FDIC call report and operates 2 offices.
What is First Farmers & Merchants National Bank's return on assets?
1.02% annualized in Q2 2026, against a 1.26% median for 99 MN banks with half to twice its assets, ahead of 30% of them.
What is First Farmers & Merchants National Bank's efficiency ratio?
62.89% in Q2 2026: it spent about 63 cents in noninterest expense for each dollar of revenue. The peer median is 61.21%, and lower is better.
Is First Farmers & Merchants National Bank growing its loans?
Net loans grew 7.4% over the year to Q2 2026, while deposits grew 4.0%.
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.