Farmers and Merchants State Bank of Alpha
Farmers and Merchants State Bank of Alpha is an FDIC-insured commercial bank headquartered in Alpha, MN, supervised by the FDIC, with $48.8M in total assets at Q3 2026, up 11.8% from Q3 2025, the 203rd largest of 221 banks headquartered in Minnesota. It was established in 1911 and holds FDIC certificate 10571. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.69% at Q3 2026, above the 8% community bank leverage ratio requirement for being considered well capitalized.
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Data as of · sourced from FFIEC call reports. How we update
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 10571
- Headquarters
- Alpha, MN
- Established
- 1911
- Total assets, Q3 2026
- $48.8M
- Assets vs Q3 2025
- +11.8%
- Tier 1 leverage ratio, Q3 2026
- 10.69%
- Domestic offices
- 1 branch
- Routing number
- 091210249
- Safety and soundness
- Is Farmers and Merchants State Bank of Alpha safe?
- Latest call report
- Q3 2026, FFIEC 051 · Farmers and Merchants State Bank of Alpha call report
- Asset rank in state
- 203rd of 221 in Minnesota
Problem loans are rising at Farmers and Merchants State Bank of Alpha. Based in Alpha, Minnesota, it had $49 million in assets at September 30, 2026, up 11.8% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 8.54% of loans from 0.16% a year earlier. It is losing 3.4% a year on shareholders' equity, lower than about 9 in 10 of the 526 banks with less than $100 million in assets (median 8.8%). It also carries problem assets equal to 46.7% of the capital and reserves that would absorb them, 29.1 times the median of 1.6% for banks its size.
It lost $44,000 in the quarter. Delinquency has appeared in its $3.8 million commercial and industrial book: 14.46% of those loans are past due or on nonaccrual, against almost none a year earlier. Its margin is thin by comparison: it keeps 3.22 cents of net interest income on every dollar of earning assets, lower than about three-quarters of banks its size (median 3.99 cents).
As of September 30, 2026, Farmers and Merchants State Bank of Alpha reported a return on assets of -0.36%, a nonperforming-loan ratio of 8.54% and a Texas ratio of 46.73%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, Farmers and Merchants State Bank of Alpha is the 203rd largest by total assets at Q3 2026. Between Q2 2026 and Q3 2026, its total assets rose 3.0% to $48.8M, loans fell 2.0% and deposits rose 3.9%. Farmland and other real estate loans made up 31.2% of its total loans on September 30, 2026, its largest category; next came agricultural production loans at 19.0%. Its one office in the FDIC Summary of Deposits is in Alpha, MN. Judged on its Q3 2026 call report, Farmers and Merchants State Bank of Alpha meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 210 Main St N, Alpha, MN 56111
- County
- Martin
- 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
- August 1, 1911
- Domestic offices
- 1 branch
- Employees (FTE)
- 6
- Domestic deposits
- $42.8M
- Allowance for credit losses
- $328K
- Net charge-offs (YTD)
- $160K
- Average total assets
- $49.1M
- Average total loans
- $30.5M
- Average interest-bearing deposits
- $37.2M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10571
- Fed RSSD
- 388753
- Website
- famstatebankofalpha.com →
Profitability
Q3 annualizedBalance Sheet
Income Statement
Operating & Funding
Watch Farmers and Merchants State Bank of Alpha: get a note when its numbers change. Free, no card required.
Ratios tagged annualized use the Q3 income alone. The UBPR and FDIC annualize the year to date instead. As a community bank leverage ratio filer, Farmers and Merchants State Bank of Alpha reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Farmers and Merchants State Bank of Alpha's total assets moved between a low of $42.7M (Q4 2024) and a high of $48.8M (Q3 2026) from Q4 2023 to Q3 2026, and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q3 2026 with Q3 2025. How these charts are built
$48.8M total assets against $43.7M; $43.7M total liabilities against $38.5M.
$29.5M net loans and leases against $28.4M; $42.8M total deposits against $37.6M.
$5.9M securities against $4.2M; $12.2M cash and balances due against $10.1M.
$622K total interest income against $627K; $241K total interest expense against $233K.
$381K net interest income against $394K.
$12K total noninterest income against -$26K; $304K total noninterest expense against $283K.
$150K provision for credit losses against $0.
-$44K net income against $58K.
-0.36% return on assets against 0.52%; 3.22% net interest margin against 3.65%.
10.69% tier 1 leverage ratio against 11.61%.
Inside the full Farmers and Merchants State Bank of Alpha 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.
Nonperforming loans (nonaccrual loans plus loans 90 or more days past due) exceed 3% of total loans. BankRegReports band at 3% of total loans.
Farmers and Merchants State Bank of Alpha rankings
Quarterly trend: last 8 quarters
Across the 8 quarters to Q3 2026, its return on assets ran from -1.04% (Q4 2024) to 0.72% (Q2 2026) and its net interest margin ran from 3.22% (Q3 2026) to 3.65% (Q3 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q3 2026 | 10.69% | -0.36% | 8.54% | 46.73% | 3.22% |
| Q2 2026 | 11.15% | 0.72% | 4.15% | 22.57% | 3.47% |
| Q1 2026 | 10.71% | 0.53% | 2.15% | 12.16% | 3.62% |
| Q4 2025 | 11.12% | 0.26% | 0.15% | 0.81% | 3.63% |
| Q3 2025 | 11.61% | 0.52% | 0.16% | 0.81% | 3.65% |
| Q2 2025 | 11.46% | 0.32% | 0.25% | 4.65% | 3.59% |
| Q1 2025 | 11.52% | 0.70% | 0.19% | 4.37% | 3.56% |
| Q4 2024 | 11.58% | -1.04% | 1.03% | 9.18% | 3.44% |
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Branch Network
View the branch → 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 |
|---|---|---|---|
| Farmers and Merchants State Bank of Alpha (main office) | Alpha , MN | 56111 | $41.2M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in MN, rank 251 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $44K approved, $44K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 1998 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), 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 State Bank of Alpha
What are Farmers and Merchants State Bank of Alpha's total assets?
As of the Q3 2026 filing, Farmers and Merchants State Bank of Alpha reported total assets of $48.8 million in its FFIEC call report.
Where is Farmers and Merchants State Bank of Alpha headquartered?
It is headquartered in Alpha, MN, United States.
When was Farmers and Merchants State Bank of Alpha founded?
It was established in 1911, per the FDIC institution directory.
Is Farmers and Merchants State Bank of Alpha FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10571). 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 State Bank of Alpha?
Farmers and Merchants State Bank of Alpha's primary federal regulator is the FDIC.
How many branches does Farmers and Merchants State Bank of Alpha operate?
It operates 1 domestic office, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Farmers and Merchants State Bank of Alpha's Texas Ratio?
Its Texas Ratio is 46.73% in its Q3 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 nonperforming assets against the bank's capital and reserves.
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