Farmers and Merchants Bank (Granite Quarry, NC)
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Data as of · sourced from FFIEC call reports. How we update
Farmers and Merchants Bank is an FDIC-insured commercial bank headquartered in Granite Quarry, NC, established in 1909 (FDIC certificate 2036), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $998.8M, up 7.3% from Q2 2025, the 15th largest of 38 banks headquartered in North Carolina. Its CET1 capital ratio was 25.46% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 2036
- Headquarters
- Granite Quarry, NC
- Established
- 1909
- Total assets, Q2 2026
- $998.8M
- Assets vs Q2 2025
- +7.3%
- CET1 ratio, Q2 2026
- 25.46%
- Domestic offices
- 12 FDIC institution directory, current count
- Routing number
- 053103640
- Latest call report
- Q2 2026, FFIEC 051 · Farmers and Merchants Bank call report
- Holding company
- F & M FINANCIAL CORPORATION
- Asset rank in state
- 15th of 38 in North Carolina
Problem loans are rising at Farmers and Merchants Bank. It reported $999 million in assets at June 30, 2026, up 7.3% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.79% of loans from 0.20% a year earlier. It earns about $2.61 a year on every $100 of assets, about double the median of $1.28 for the 2,660 banks with $100 million to $1 billion in assets. It also keeps 5.08 cents of net interest income on every dollar of earning assets, higher than about 9 in 10 banks its size (median 3.95 cents).
Net income for the quarter rose 24% from a year earlier, to $6.5 million. Over the same year, loans grew 2.1% and deposits grew 6.6%. Concentration is the risk to watch: it holds commercial real estate loans worth 2.1 times its capital, higher than about three-quarters of banks its size (median 1.2 times).
As of June 30, 2026, Farmers and Merchants Bank reported a CET1 capital ratio of 25.46%, a return on assets of 2.61%, a nonperforming-loan ratio of 0.79% and a Texas ratio of 2.67%. The figures come from its call report filed with the FFIEC.
Farmers and Merchants Bank ranks as the 15th largest of the 38 banks based in North Carolina, by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 1.3% to $998.8M, loans rose 2.8% and deposits rose 1.4%. The largest part of its loan book on June 30, 2026 was construction and land development loans, at 30.6% of total loans, ahead of non-owner-occupied commercial real estate loans at 29.2%. The FDIC Summary of Deposits lists 12 offices for it, in 8 cities in NC; its Salisbury 5 offices book 42% of its branch deposits. Judged on its Q2 2026 call report, Farmers and Merchants Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 138 N Salisbury Gq Ave, Granite Quarry, NC 28146
- County
- Rowan
- Metro Area
- Charlotte-Concord-Gastonia, NC-SC
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- No
- Federal Reserve district
- District 5, Richmond
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- January 1, 1909
- Former names
- Farmers & Merchants Bank (2010)
- Domestic offices
- 12 FDIC institution directory, current count
- Employees (FTE)
- 123
- Domestic deposits
- $842.6M
- Allowance for credit losses
- $10.3M
- Net charge-offs (YTD)
- -$756K
- Average total assets
- $992.8M
- Average total loans
- $536.1M
- Average interest-bearing deposits
- $567.7M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 2036
- Fed RSSD
- 348720
- Website
- www.fmbnc.com →
- Parent Holding Company
- F & M FINANCIAL CORPORATION (RSSD 1076619)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Farmers and Merchants Bank's total assets moved between a low of $894.1M (Q4 2024) and a high of $998.8M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$998.8M total assets against $931.1M; $849.3M total liabilities against $798.1M.
$530.7M net loans and leases against $519.2M; $842.6M total deposits against $790.4M.
$306.2M securities against $248.6M; $121.3M cash and balances due against $120.4M.
$13.9M total interest income against $13.0M; $1.7M total interest expense against $1.6M.
$12.2M net interest income against $11.4M.
$2.5M total noninterest income against $2.3M; $7.0M total noninterest expense against $7.1M.
-$550K provision for credit losses against $0.
$6.5M net income against $5.2M.
2.61% return on assets against 2.24%; 5.08% net interest margin against 5.13%.
25.46% CET1 capital ratio against 23.65%; 15.25% tier 1 leverage ratio against 14.46%.
Inside the full Farmers and Merchants Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Farmers and Merchants Bank rankings
Its closest position to the top of a national ranking is 135 of 3,611, for ROA; its furthest is 1,970 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 2.20% (Q1 2025) to 2.61% (Q2 2026) and its net interest margin ran from 4.96% (Q1 2026) to 5.34% (Q3 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 25.46% | 2.61% | 0.79% | 2.67% | 5.08% |
| Q1 2026 | 25.47% | 2.48% | 0.67% | 2.25% | 4.96% |
| Q4 2025 | 24.57% | 2.21% | 0.62% | 2.95% | 5.01% |
| Q3 2025 | 24.47% | 2.32% | 0.66% | 3.15% | 5.18% |
| Q2 2025 | 23.65% | 2.24% | 0.20% | 1.59% | 5.13% |
| Q1 2025 | 23.47% | 2.20% | 0.62% | 3.18% | 5.11% |
| Q4 2024 | 22.60% | 2.29% | 0.10% | 1.30% | 5.20% |
| Q3 2024 | 21.75% | 2.45% | 0.10% | 1.32% | 5.34% |
Swipe the table sideways to see every column.
Branch Network
View all 12 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| North Main Street Branch | Salisbury , NC | 28144 | $172.7M |
| Farmers & Merchants Bank | Granite Quarry , NC | 28146 | $128.7M |
| West Salisbury Branch | Salisbury , NC | 28147 | $121.2M |
| Church Street Branch | Concord , NC | 28025 | $107.2M |
| Kannapolis Branch | Kannapolis , NC | 28083 | $81.6M |
| China Grove Branch | China Grove , NC | 28023 | $73.2M |
| Rockwell Branch | Rockwell , NC | 28138 | $66.9M |
| Avalon Drive Branch | Salisbury , NC | 28146 | $52.0M |
| Raleigh Branch | Raleigh , NC | 27615 | $34.0M |
| Trinity Oaks Retirement Community Branch | Salisbury , NC | 28144 | $4.9M |
| Faith Teller's Window Branch | Faith , NC | 28041 | $0 |
| Statesville Boulevard Express Branch | Salisbury , NC | 28144 | $0 |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.1% of deposits in NC, rank 31 of 82 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 89 applications, 71 loans originated, $24.8M originated, across 2 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- Not on file
- Enforcement actions, SBA 7(a) lending, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Farmers and Merchants Bank
What are Farmers and Merchants Bank's total assets?
As of the Q2 2026 filing, Farmers and Merchants Bank reported total assets of $998.8 million in its FFIEC call report.
Where is Farmers and Merchants Bank headquartered?
It is headquartered in Granite Quarry, NC, United States.
When was Farmers and Merchants Bank founded?
It was established in 1909, per the FDIC institution directory.
Is Farmers and Merchants Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #2036). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Farmers and Merchants Bank?
Farmers and Merchants Bank's primary federal regulator is the FDIC.
What is Farmers and Merchants Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 25.46% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Farmers and Merchants Bank operate?
It operates 12 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Farmers and Merchants Bank's Texas Ratio?
Its Texas Ratio is 2.67% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Farmers and Merchants Bank previously called?
The charter now named Farmers and Merchants Bank has also operated as Farmers & Merchants Bank (2010), per FDIC structure-change records.
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