The Farmers and Merchants State Bank
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Data as of · sourced from FFIEC call reports. How we update
The Farmers and Merchants State Bank is an FDIC-insured commercial bank headquartered in Scotland, SD, supervised by the FDIC, with $36.0M in total assets at Q2 2026, up 4.3% from Q2 2025, the 54th largest of 56 banks headquartered in South Dakota. It was established in 1934 and holds FDIC certificate 13999. It reports no CET1 ratio; its Tier 1 leverage ratio was 11.89% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 13999
- Headquarters
- Scotland, SD
- Established
- 1934
- Total assets, Q2 2026
- $36.0M
- Assets vs Q2 2025
- +4.3%
- Tier 1 leverage ratio, Q2 2026
- 11.89%
- Domestic offices
- 1 · The Farmers and Merchants State Bank branches FDIC institution directory, current count
- Routing number
- 091408174
- Safety and soundness
- Is The Farmers and Merchants State Bank safe?
- Latest call report
- Q2 2026, FFIEC 051 · The Farmers and Merchants State Bank Q3 2026 call report, filed October 28, 2026 (preliminary)
- Holding company
- SCOTLAND HOLDING COMPANY
- Asset rank in state
- 54th of 56 in South Dakota
Problem loans are falling at The Farmers and Merchants State Bank. It reported $36 million in assets at June 30, 2026, up 4.3% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, fell to 0.08% of loans from 0.63% a year earlier. It pays an average of 1.01% on its deposits and borrowings, lower than about three-quarters of the 533 banks with less than $100 million in assets (median 1.53%).
Earnings jumped: net income for the quarter was $103,000, 43% above the same quarter a year earlier. Over the same year, loans grew 0.2% and deposits grew 3.4%.
As of June 30, 2026, The Farmers and Merchants State Bank reported a return on assets of 1.13%, a nonperforming-loan ratio of 0.08% and a Texas ratio of 0.29%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, The Farmers and Merchants State Bank is the 54th largest of the 56 banks headquartered in South Dakota. Between Q1 2026 and Q2 2026, its total assets fell 0.2% to $36.0M, loans rose 7.2% and deposits fell 0.7%. Its loan book on June 30, 2026 was led by agricultural production loans, at 55.6% of total loans, followed by commercial and industrial loans at 15.1%. The FDIC Summary of Deposits lists a single office for it, in Scotland, SD. Judged on its Q2 2026 call report, The Farmers and Merchants State Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 550 Main St, Scotland, SD 57059
- County
- Bon Homme
- 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
- March 6, 1934
- Domestic offices
- 1 FDIC institution directory, current count
- Employees (FTE)
- 6
- Domestic deposits
- $32.4M
- Allowance for credit losses
- $217K
- Net charge-offs (YTD)
- -$1K
- Average total assets
- $36.4M
- Average total loans
- $13.1M
- Average interest-bearing deposits
- $24.5M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- March 6, 1934
- FDIC Cert
- 13999
- Fed RSSD
- 425050
- Website
- http://wwwfmsbscotland.com →
- Parent Holding Company
- SCOTLAND HOLDING COMPANY (RSSD 1127856)
Profitability
Q2 annualizedBalance 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. As a community bank leverage ratio filer, The Farmers and Merchants State Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
The Farmers and Merchants State Bank's total assets moved between a low of $32.5M (Q3 2023) and a high of $36.1M (Q1 2026) from Q3 2023 to Q2 2026, and it earned a profit in 11 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$36.0M total assets against $34.6M; $32.5M total liabilities against $31.4M.
$13.3M net loans and leases against $13.2M; $32.4M total deposits against $31.3M.
$17.0M securities against $14.6M; $4.8M cash and balances due against $5.6M.
$450K total interest income against $444K; $81K total interest expense against $93K.
$369K net interest income against $351K.
$13K total noninterest income against $15K; $265K total noninterest expense against $252K.
No provision recorded in the last 12 quarters.
$103K net income against $72K.
1.13% return on assets against 0.83%; 4.23% net interest margin against 4.19%.
11.89% tier 1 leverage ratio against 11.66%.
Inside the full The Farmers and Merchants State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeThe Farmers and Merchants State Bank rankings
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.35% (Q4 2024) to 1.71% (Q1 2025) and its net interest margin ran from 4.04% (Q3 2024) to 4.31% (Q3 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.89% | 1.13% | 0.08% | 0.29% | 4.23% |
| Q1 2026 | 11.72% | 1.31% | 0.13% | 0.44% | 4.27% |
| Q4 2025 | 12.14% | 0.92% | 0.50% | 1.84% | 4.18% |
| Q3 2025 | 11.95% | 0.50% | 0.42% | 1.65% | 4.31% |
| Q2 2025 | 11.66% | 0.83% | 0.63% | 2.54% | 4.19% |
| Q1 2025 | 11.57% | 1.71% | 0.58% | 2.65% | 4.17% |
| Q4 2024 | 11.36% | 0.35% | 0.61% | 3.08% | 4.07% |
| Q3 2024 | 11.42% | 1.36% | 0.69% | 2.98% | 4.04% |
Swipe the table sideways to see every column.
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 |
|---|---|---|---|
| The Farmers and Merchants State Bank | Scotland , SD | 57059 | $32.4M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in SD, rank 72 of 82 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $250K approved, $250K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 1997 (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 The Farmers and Merchants State Bank
What are The Farmers and Merchants State Bank's total assets?
As of the Q2 2026 filing, The Farmers and Merchants State Bank reported total assets of $36.0 million in its FFIEC call report.
Where is The Farmers and Merchants State Bank headquartered?
It is headquartered in Scotland, SD, United States.
When was The Farmers and Merchants State Bank founded?
It was established in 1934, per the FDIC institution directory.
Is The Farmers and Merchants State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #13999). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates The Farmers and Merchants State Bank?
The Farmers and Merchants State Bank's primary federal regulator is the FDIC.
How many branches does The Farmers and Merchants State Bank 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 The Farmers and Merchants State Bank's Texas Ratio?
Its Texas Ratio is 0.29% 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.
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