First Farmers & Merchants National Bank: how it compares with its peers
Against 98 MN banks with half to twice its assets, First Farmers & Merchants National Bank's strongest measure in Q2 2026 is efficiency ratio (53.03% vs. a 62.17% peer median). Its weakest relative measure is return on assets (1.26% vs. 1.31%).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.26% | 1.31% | Middle third Ahead of 48% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.05% | 3.99% | Middle third Ahead of 57% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 53.03% | 62.17% | Top third Ahead of 83% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $9.3M | $7.4M | Top third Ahead of 82% of peers |
| Loans to deposits Net loans and leases over total deposits. | 85.70% | 76.51% | Context |
What it means for lending operations
Its efficiency ratio of 53.03% is better than the 62.17% 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
- Center National Bank Litchfield, MN · $243M
- Arcadian Bank Hartland, MN · $242M
- BANKWEST Rockford, MN · $240M
- Cornerstone State Bank Montgomery, MN · $247M
- Drake Bank Saint Paul, MN · $247M
- United Farmers State Bank Adams, MN · $234M
Questions about First Farmers & Merchants National Bank
How big is First Farmers & Merchants National Bank?
First Farmers & Merchants National Bank, established in 1931, is headquartered in Luverne, MN. It reported $243M 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?
1.26% annualized in Q2 2026, against a 1.31% median for 98 MN banks with half to twice its assets, ahead of 48% of them.
What is First Farmers & Merchants National Bank's efficiency ratio?
53.03% in Q2 2026: it spent about 53 cents in noninterest expense for each dollar of revenue. The peer median is 62.17%, and lower is better.
Is First Farmers & Merchants National Bank growing its loans?
Net loans grew 8.0% over the year to Q2 2026, while deposits grew 8.2%.
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.