Farmers & Merchants State Bank of New York Mills, Incorporated: how it compares with its peers
Against 85 MN banks with half to twice its assets, Farmers & Merchants State Bank of New York Mills, Incorporated's strongest measure in Q2 2026 is assets per employee ($8.3M vs. a $7.2M peer median). Its weakest relative measure is net interest margin (3.26% vs. 4.07%).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.91% | 1.27% | Bottom third Ahead of 25% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.26% | 4.07% | Bottom third Ahead of 15% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 72.27% | 61.21% | Bottom third Ahead of 18% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.3M | $7.2M | Top third Ahead of 69% of peers |
| Loans to deposits Net loans and leases over total deposits. | 53.07% | 78.76% | Context |
What it means for lending operations
Its efficiency ratio of 72.27% 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
- Lowry State Bank Lowry, MN · $84M
- Odin State Bank Odin, MN · $82M
- Vantage Bank Kent, MN · $85M
- American State Bank of Grygla Grygla, MN · $82M
- First Security Bank - Canby Canby, MN · $85M
- State Bank of Cold Spring Cold Spring, MN · $82M
Questions about Farmers & Merchants State Bank of New York Mills, Incorporated
How big is Farmers & Merchants State Bank of New York Mills, Incorporated?
Farmers & Merchants State Bank of New York Mills, Incorporated, established in 1916, is headquartered in New York Mills, MN. It reported $83M in total assets in its Q2 2026 FDIC call report and operates 1 office.
What is Farmers & Merchants State Bank of New York Mills, Incorporated's return on assets?
0.91% annualized in Q2 2026, against a 1.27% median for 85 MN banks with half to twice its assets, ahead of 25% of them.
What is Farmers & Merchants State Bank of New York Mills, Incorporated's efficiency ratio?
72.27% in Q2 2026: it spent about 72 cents in noninterest expense for each dollar of revenue. The peer median is 61.21%, and lower is better.
Is Farmers & Merchants State Bank of New York Mills, Incorporated growing its loans?
Net loans grew 13.0% over the year to Q2 2026, while deposits shrank 0.2%.
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.