Farmers & Merchants State Bank (Winterset, IA)
BankRegReports is independent of Farmers & Merchants State Bank and never asks for online banking logins or passwords.
Data as of · sourced from FFIEC call reports. How we update
Farmers & Merchants State Bank is an FDIC-insured commercial bank headquartered in Winterset, IA, established in 1938 (FDIC certificate 15610), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $271.7M, up 5.0% from Q2 2025, the 116th largest of 225 banks headquartered in Iowa. Its CET1 capital ratio was 16.13% 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
- 15610
- Headquarters
- Winterset, IA
- Established
- 1938
- Total assets, Q2 2026
- $271.7M
- Assets vs Q2 2025
- +5.0%
- CET1 ratio, Q2 2026
- 16.13%
- Domestic offices
- 5 FDIC institution directory, current count
- Routing number
- 073903147
- Latest call report
- Q2 2026, FFIEC 051 · Farmers & Merchants State Bank call report
- Holding company
- FARMERS AND MERCHANTS BANCORP
- Asset rank in state
- 116th of 225 in Iowa
Farmers & Merchants State Bank, based in Winterset, Iowa, reported $272 million in assets at June 30, 2026, up 5.0% from a year earlier. It carries problem assets equal to 0.0% of the capital and reserves that would absorb them, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 2.6%). It also holds commercial real estate loans equal to only 24% of its capital, a small fraction of the median of 1.2 times for banks its size.
As of June 30, 2026, Farmers & Merchants State Bank reported a CET1 capital ratio of 16.13%, a return on assets of 1.29%, a nonperforming-loan ratio of 0.00% and a Texas ratio of 0.00%. The figures come from its call report filed with the FFIEC.
Farmers & Merchants State Bank ranks as the 116th largest of the 225 banks based in Iowa, by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 2.4% to $271.7M, loans rose 2.1% and deposits rose 2.3%. The largest part of its loan book on June 30, 2026 was farmland and other real estate loans, at 30.4% of total loans, ahead of 1-4 family residential loans at 23.9%. The FDIC Summary of Deposits lists 5 offices for it, in 4 cities in IA; its Winterset 2 offices book 75% of its branch deposits. On its Q2 2026 call report, Farmers & Merchants State Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 101 W Jefferson St, Winterset, IA 50273
- County
- Madison
- Metro Area
- Des Moines-West Des Moines, IA
- 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 7, Chicago
- Fiduciary (trust) powers
- Trust powers grandfathered
- Call Report form
- FFIEC 051
- Established
- August 11, 1938
- Domestic offices
- 5 FDIC institution directory, current count
- Employees (FTE)
- 32
- Domestic deposits
- $241.1M
- Allowance for credit losses
- $1.6M
- Net charge-offs (YTD)
- $21K
- Average total assets
- $265.2M
- Average total loans
- $164.4M
- Average interest-bearing deposits
- $171.4M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- August 11, 1938
- FDIC Cert
- 15610
- Fed RSSD
- 145741
- Website
- http://www.fmstate.bank →
- Parent Holding Company
- FARMERS AND MERCHANTS BANCORP (RSSD 1245321)
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 & Merchants State Bank's total assets moved between a low of $224.5M (Q3 2023) and a high of $271.7M (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
$271.7M total assets against $258.7M; $244.9M total liabilities against $234.1M.
$164.5M net loans and leases against $157.0M; $241.1M total deposits against $229.6M.
$73.3M securities against $75.2M; $26.2M cash and balances due against $20.9M.
$3.3M total interest income against $3.2M; $909K total interest expense against $981K.
$2.3M net interest income against $2.2M.
$239K total noninterest income against $243K; $1.4M total noninterest expense against $1.3M.
$0 provision for credit losses against $50K.
$857K net income against $821K.
1.29% return on assets against 1.26%; 3.70% net interest margin against 3.46%.
16.13% CET1 capital ratio against 15.66%; 10.68% tier 1 leverage ratio against 10.09%.
Inside the full Farmers & Merchants State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFarmers & Merchants State Bank rankings
Its closest position to the top of a national ranking is 1,098 of 3,606, for efficiency ratio; its furthest is 3,489 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.09% (Q4 2025) to 1.40% (Q3 2025) and its net interest margin ran from 3.36% (Q3 2024) to 3.70% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 16.13% | 1.29% | 0.00% | 0.00% | 3.70% |
| Q1 2026 | 15.77% | 1.12% | 0.00% | 0.00% | 3.57% |
| Q4 2025 | 15.51% | 1.09% | 0.00% | 0.00% | 3.65% |
| Q3 2025 | 15.23% | 1.40% | 0.00% | 0.02% | 3.65% |
| Q2 2025 | 15.66% | 1.26% | 0.00% | 0.00% | 3.46% |
| Q1 2025 | 15.75% | 1.20% | 0.00% | 0.00% | 3.41% |
| Q4 2024 | 15.56% | 1.23% | 0.00% | 0.00% | 3.40% |
| Q3 2024 | 15.63% | 1.19% | 0.00% | 0.00% | 3.36% |
Swipe the table sideways to see every column.
Branch Network
View all 5 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 |
|---|---|---|---|
| Farmers and Merchants State Bank | Winterset , IA | 50273 | $181.7M |
| Orient Branch | Orient , IA | 50858 | $30.6M |
| St Charles Branch | Saint Charles , IA | 50240 | $28.3M |
| Farmers & Merchants State Bank - Greenfield Branch | Greenfield , IA | 50849 | $530K |
| Motor Branch | Winterset , IA | 50273 | $0 |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| June 25, 1994 | Structure Change | Acquired United Federal Savings Association of Iowa Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 1 event.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.2% of deposits in IA, rank 118 of 261 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 68 applications, 63 loans originated, $11.6M originated, across 1 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $1.0M approved, $1.0M average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2020 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
Add this badge to your website
Free to use. It shows Farmers & Merchants State Bank’s latest filed figures and updates each quarter.
Similar banks
Compare Farmers & Merchants State Bank with peers
Frequently asked about Farmers & Merchants State Bank
What are Farmers & Merchants State Bank's total assets?
As of the Q2 2026 filing, Farmers & Merchants State Bank reported total assets of $271.7 million in its FFIEC call report.
Where is Farmers & Merchants State Bank headquartered?
It is headquartered in Winterset, IA, United States.
When was Farmers & Merchants State Bank founded?
It was established in 1938, per the FDIC institution directory.
Is Farmers & Merchants State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #15610). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Farmers & Merchants State Bank?
Farmers & Merchants State Bank's primary federal regulator is the FDIC.
What is Farmers & Merchants State Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 16.13% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Farmers & Merchants State Bank operate?
It operates 5 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Farmers & Merchants State Bank's Texas Ratio?
Its Texas Ratio is 0.00% 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.
Go deeper on Farmers & Merchants State Bank.
Get an email when Farmers & Merchants State Bank files its next call report, and benchmark it against any peer you choose.
Unlock Farmers & Merchants State Bank, freeFree account