Farmers State Bank of Underwood: Financial Reports & UBPR Data
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Data as of · sourced from FFIEC call reports. How we update
Farmers State Bank of Underwood operates with a thinner capital cushion than most banks of its size. The Underwood, Minnesota bank had $114 million in assets at June 30, 2026, up 4.9% from a year earlier. It funds 8.62% of its assets with Tier 1 capital, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 10.99%). On the other hand, it returns 21.2% a year on shareholders' equity, higher than about three-quarters of banks its size (median 12.5%).
Earnings jumped: net income for the quarter was $469,000, 52% above the same quarter a year earlier. Its $12 million commercial and industrial book is now fully current, after 4.62% of it was past due or on nonaccrual a year earlier.
As of June 30, 2026, Farmers State Bank of Underwood reported a CET1 capital ratio of 11.53%, a return on assets of 1.66%, a nonperforming-loan ratio of 0.03% and a Texas ratio of 0.27%, according to its call report filed with the FFIEC.
Headquarters Profile
- Address
- 110 Main St S, Underwood, MN 56586
- County
- Otter Tail
- Metro Area
- Fergus Falls, MN
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- No
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- December 1, 1915
- Offices
- 4 domestic
- Employees (FTE)
- 17
- Domestic deposits
- $103.9M
- Allowance for credit losses
- $1.1M
- Net charge-offs (YTD)
- $7K
- Average total assets
- $112.9M
- Average total loans
- $83.8M
- Average interest-bearing deposits
- $82.0M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10174
- Fed RSSD
- 865852
- Website
- www.farmerstbank.com →
- Parent Holding Company
- UNDERWOOD BANCSHARES, INC. (RSSD 1128385)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Rows tagged YTD are fiscal year to date through June 30, 2026, as filed. Net income is tagged Q2 because it is that quarter's own figure, not a running total, so it cannot be compared with a YTD row. ROA, ROE and net interest margin are the quarter's own income, annualized. The UBPR and FDIC annualize the year to date instead, so after the first quarter their figures differ from ours; where the UBPR has this quarter, its value is shown beside each as YTD. The UBPR's YTD ROA divides by the average of the quarterly average assets the bank reports on Schedule RC-K, while FDIC BankFind divides by the average of quarter-end total assets, so FDIC's ROA can differ from the YTD figure by a few hundredths of a point. Net interest margin is the UBPR's tax-equivalent figure over the UBPR's own average earning assets. FDIC BankFind's is not tax-equivalent and divides by the average of quarter-end earning assets including the prior year-end, so after a merger FDIC's margin can differ from ours by several tenths of a point.
Quarterly trends
Last 12 quarters from this bank's own FFIEC call reports. Dollar figures are the quarter's own amount: the income statement is filed year to date, so those lines are shown net of the preceding quarter.
Balances at each quarter end. The gap between the two lines is equity capital.
Balances at each quarter end. Loans rising toward deposits is the loan-to-deposit ratio tightening.
Balances at each quarter end. Each line is its own balance, not stacked on the other.
Each bar is that quarter alone. The gap between the two is net interest income.
What the balance sheet earned on spread that quarter, before fees and operating costs.
Fees, trading and other income against salaries, premises and the rest of the cost base.
What the bank charged to earnings that quarter to build its allowance for expected losses.
Net income for the quarter alone. The Call Report reports it year to date; this series converts it to the single quarter, so each bar covers three months.
CET1 is common equity tier 1 as a share of risk-weighted assets; the leverage ratio is tier 1 capital as a share of average total assets. A bank that files the community bank leverage ratio reports no CET1 ratio, so only its leverage line appears.
Inside the full Farmers State Bank of Underwood terminal
26 years of quarterly trends · 8 tabs · peer percentiles · Excel export
Unlock Farmers State Bank of Underwood, freeFarmers State Bank of Underwood rankings
How this bank ranks on each leaderboard. Click any rank to see the full ranked list.
Ranked among banks that report this metric, so the total differs from card to card. The CET1 ranking leaves out community bank leverage ratio filers, which report no CET1 ratio.
Quarterly trend: last 8 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.53% | 1.66% | 0.03% | 0.27% | 4.67% |
| Q1 2026 | 11.65% | 1.75% | 0.24% | 1.99% | 4.81% |
| Q4 2025 | 11.43% | 1.93% | 0.00% | 0.00% | 5.04% |
| Q3 2025 | 11.51% | 1.74% | 0.00% | 0.00% | 4.90% |
| Q2 2025 | 11.14% | 1.18% | 0.00% | 0.00% | 4.84% |
| Q1 2025 | 11.72% | 1.21% | 0.01% | 0.09% | 4.58% |
| Q4 2024 | 11.56% | 1.43% | 0.03% | 0.24% | 4.61% |
| Q3 2024 | 11.32% | 1.27% | 0.11% | 0.99% | 4.33% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, listed with the deposits booked at each location. The FDIC's office count above also includes administrative and limited-service offices, so the two totals can differ. View all 4 branches →
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Farmers State Bank of Underwood (main office) | Underwood , MN | 56586 | $56.1M |
| Fergus Falls Branch | Fergus Falls , MN | 56537 | $26.3M |
| Rothsay Branch | Rothsay , MN | 56579 | $14.3M |
| Dalton Branch | Dalton , MN | 56324 | $7.1M |
Regulatory record
What the public regulatory sources show for Farmers State Bank of Underwood, each with its period and source. These are facts as filed or published, not a rating or score. "Not on file" means we hold no record from that source, which is not the same as a clean record.
- Enforcement actions
- Not on file: no matched FDIC, Federal Reserve or OCC action
- Period: not on file. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- <0.1% of deposits in MN, rank 192 of 279 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- Not on file: no HMDA filing matched
- Period: not on file. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $244K approved, $244K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2023 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- Not on file: no CFPB complaints matched
- Period: not on file. Source: CFPB consumer complaint database.
- CFPB enforcement
- Not on file: CFPB enforcement actions are not loaded
- Period: not on file. Source: CFPB enforcement actions.
- CRA examination rating
- Not on file: FFIEC CRA ratings are not loaded
- Period: not on file. Source: FFIEC CRA ratings.
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Frequently asked about Farmers State Bank of Underwood
What are Farmers State Bank of Underwood's total assets?
As of the Q2 2026 filing, Farmers State Bank of Underwood reported total assets of $113.8 million in its FFIEC call report. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Farmers State Bank of Underwood headquartered?
Farmers State Bank of Underwood is headquartered in Underwood, MN, United States. It files quarterly FFIEC call reports, as every FDIC-insured commercial bank must.
When was Farmers State Bank of Underwood founded?
Farmers State Bank of Underwood was established in 1915, per the FDIC institution directory.
Is Farmers State Bank of Underwood FDIC-insured?
Yes. Farmers State Bank of Underwood is an FDIC-insured commercial bank (FDIC Certificate #10174). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Farmers State Bank of Underwood?
Farmers State Bank of Underwood's primary federal regulator is the FDIC. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is Farmers State Bank of Underwood's CET1 capital ratio?
Farmers State Bank of Underwood reported a Common Equity Tier 1 (CET1) capital ratio of 11.53% in its Q2 2026 call report, above regulatory requirements.
How many branches does Farmers State Bank of Underwood operate?
Farmers State Bank of Underwood operates 4 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Farmers State Bank of Underwood's Texas Ratio?
Farmers State Bank of Underwood's Texas Ratio is 0.27% in its Q2 2026 call report, within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; the glossary entry for the Texas Ratio carries the full definition.
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