Farmers and Merchants State Bank: how it compares with its peers
Against 17 SD banks with half to twice its assets, Farmers and Merchants State Bank's strongest measure in Q2 2026 is efficiency ratio (38.77% vs. a 53.60% peer median). Its weakest relative measure is return on assets (2.46% vs. 1.63%).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 2.46% | 1.63% | Top third Ahead of 82% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.94% | 3.77% | Top third Ahead of 88% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 38.77% | 53.60% | Top third Ahead of 94% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $11.3M | $7.5M | Top third Ahead of 82% of peers |
| Loans to deposits Net loans and leases over total deposits. | 106.46% | 77.41% | Context |
What it means for lending operations
Its efficiency ratio of 38.77% is better than the 53.60% 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
- Heartland State Bank Redfield, SD · $154M
- Citizens State Bank, of Arlington Arlington, SD · $153M
- Great Plains Bank Eureka, SD · $150M
- First State Bank of Roscoe Roscoe, SD · $147M
- Merchants State Bank Freeman, SD · $220M
Questions about Farmers and Merchants State Bank
How big is Farmers and Merchants State Bank?
Farmers and Merchants State Bank, established in 1910, is headquartered in Plankinton, SD. It reported $180M in total assets in its Q2 2026 FDIC call report and operates 2 offices.
What is Farmers and Merchants State Bank's return on assets?
2.46% annualized in Q2 2026, against a 1.63% median for 17 SD banks with half to twice its assets, ahead of 82% of them.
What is Farmers and Merchants State Bank's efficiency ratio?
38.77% in Q2 2026: it spent about 39 cents in noninterest expense for each dollar of revenue. The peer median is 53.60%, and lower is better.
Is Farmers and Merchants State Bank growing its loans?
Net loans grew 17.6% over the year to Q2 2026, while deposits grew 9.4%.
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 SD 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 South Dakota bank ranked.