Farmers & Merchants State Bank of Springfield
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Data as of · sourced from FFIEC call reports. How we update
Farmers & Merchants State Bank of Springfield is an FDIC-insured commercial bank headquartered in Springfield, MN, supervised by the FDIC, with $139.8M in total assets at Q2 2026, up 5.2% from Q2 2025, the 141st largest of 221 banks headquartered in Minnesota. It was established in 1918 and holds FDIC certificate 13382. Its CET1 capital ratio was 15.23% 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
- 13382
- Headquarters
- Springfield, MN
- Established
- 1918
- Total assets, Q2 2026
- $139.8M
- Assets vs Q2 2025
- +5.2%
- CET1 ratio, Q2 2026
- 15.23%
- Domestic offices
- 2 · Farmers & Merchants State Bank of Springfield branches FDIC institution directory, current count
- Routing number
- 091214339
- Safety and soundness
- Is Farmers & Merchants State Bank of Springfield safe?
- Latest call report
- Q2 2026, FFIEC 051 · Farmers & Merchants State Bank of Springfield Q3 2026 call report, filed October 22, 2026 (preliminary)
- Holding company
- PIESCO, INC.
- Asset rank in state
- 141st of 221 in Minnesota
Problem loans are rising at Farmers & Merchants State Bank of Springfield. The Springfield, Minnesota bank had $140 million in assets at June 30, 2026, up 5.2% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 2.36% of loans from 0.00% a year earlier. It funds 8.70% of its assets with Tier 1 capital, lower than about 9 in 10 of the 2,627 banks with $100 million to $1 billion in assets (median 10.99%). It also carries problem assets equal to 15.5% of the capital and reserves that would absorb them, 5.8 times the median of 2.7% for banks its size.
Net income for the quarter slipped 13% from a year earlier, to $526,000. Over the same year, loans shrank 5.3% and deposits grew 6.3%.
As of June 30, 2026, Farmers & Merchants State Bank of Springfield reported a CET1 capital ratio of 15.23%, a return on assets of 1.49%, a nonperforming-loan ratio of 4.48% and a Texas ratio of 15.52%. The figures come from its call report filed with the FFIEC.
Farmers & Merchants State Bank of Springfield ranks as the 141st largest of the 221 banks based in Minnesota, by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 1.2% to $139.8M, loans fell 2.9% and deposits fell 1.5%. Farmland and other real estate loans made up 38.7% of its total loans on June 30, 2026, its largest category; next came agricultural production loans at 37.9%. Its 2 offices in the FDIC Summary of Deposits are in Springfield, MN and Morgan, MN; its Springfield office books 72% of its branch deposits. By the capital ratios in its Q2 2026 call report, Farmers & Merchants State Bank of Springfield meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 101 N Marshall Ave, Springfield, MN 56087
- County
- Brown
- Metro Area
- New Ulm, 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
- January 1, 1918
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 19
- Domestic deposits
- $120.7M
- Allowance for credit losses
- $1.5M
- Net charge-offs (YTD)
- -$5K
- Average total assets
- $140.8M
- Average total loans
- $92.9M
- Average interest-bearing deposits
- $100.7M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 13382
- Fed RSSD
- 770451
- Website
- https://www.fmb-ebank.com →
- Parent Holding Company
- PIESCO, INC. (RSSD 2780717)
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
From Q3 2023 to Q2 2026, Farmers & Merchants State Bank of Springfield's total assets ranged from $132.8M (Q2 2025) to $142.5M (Q4 2023), 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
$139.8M total assets against $132.8M; $127.8M total liabilities against $120.9M.
$87.4M net loans and leases against $92.4M; $120.7M total deposits against $113.5M.
$33.6M securities against $24.3M; $11.8M cash and balances due against $8.8M.
$1.8M total interest income against $1.9M; $436K total interest expense against $393K.
$1.4M net interest income against $1.5M.
$65K total noninterest income against $57K; $904K total noninterest expense against $861K.
$0 provision for credit losses against $24K.
$526K net income against $606K.
1.49% return on assets against 1.79%; 4.13% net interest margin against 4.59%.
15.23% CET1 capital ratio against 14.05%; 8.70% tier 1 leverage ratio against 8.89%.
Inside the full Farmers & Merchants State Bank of Springfield 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 & Merchants State Bank of Springfield rankings
Its closest position to the top of a national ranking is 288 of 3,640, for Texas Ratio; its furthest is 3,368 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.18% (Q1 2026) to 1.79% (Q2 2025) and its net interest margin ran from 3.86% (Q3 2024) to 4.59% (Q2 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 15.23% | 1.49% | 4.48% | 15.52% | 4.13% |
| Q1 2026 | 14.56% | 1.18% | 4.33% | 15.59% | 3.94% |
| Q4 2025 | 15.31% | 1.48% | 0.00% | 0.00% | 4.44% |
| Q3 2025 | 15.71% | 1.69% | 0.00% | 0.00% | 4.53% |
| Q2 2025 | 14.05% | 1.79% | 0.00% | 0.00% | 4.59% |
| Q1 2025 | 13.14% | 1.52% | 0.00% | 0.00% | 4.23% |
| Q4 2024 | 13.60% | 1.60% | 0.00% | 0.00% | 4.39% |
| Q3 2024 | 14.09% | 1.39% | 0.00% | 0.00% | 3.86% |
Swipe the table sideways to see every column.
Branch Network
View all 2 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 of Springfield | Springfield , MN | 56087 | $86.3M |
| Morgan Branch | Morgan , MN | 56266 | $34.3M |
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 |
|---|---|---|---|
| March 19, 1988 | Structure Change | Acquired State Bank of Morgan Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| March 18, 1988 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in MN, rank 173 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $150K approved, $150K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2021 (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 & Merchants State Bank of Springfield
What are Farmers & Merchants State Bank of Springfield's total assets?
As of the Q2 2026 filing, Farmers & Merchants State Bank of Springfield reported total assets of $139.8 million in its FFIEC call report.
Where is Farmers & Merchants State Bank of Springfield headquartered?
It is headquartered in Springfield, MN, United States.
When was Farmers & Merchants State Bank of Springfield founded?
It was established in 1918, per the FDIC institution directory.
Is Farmers & Merchants State Bank of Springfield FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #13382). 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 of Springfield?
Farmers & Merchants State Bank of Springfield's primary federal regulator is the FDIC.
What is Farmers & Merchants State Bank of Springfield's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 15.23% 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 of Springfield operate?
It operates 2 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 of Springfield's Texas Ratio?
Its Texas Ratio is 15.52% 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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