Farmers State Bank (Algona, IA)
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Data as of · sourced from FFIEC call reports. How we update
Farmers State Bank is an FDIC-insured commercial bank headquartered in Algona, IA, established in 1895 (FDIC certificate 8760), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $150.5M, up 9.9% from Q2 2025, the 164th largest of 225 banks headquartered in Iowa. It reports no CET1 ratio; its Tier 1 leverage ratio was 12.70% 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
- 8760
- Headquarters
- Algona, IA
- Established
- 1895
- Total assets, Q2 2026
- $150.5M
- Assets vs Q2 2025
- +9.9%
- Tier 1 leverage ratio, Q2 2026
- 12.70%
- Domestic offices
- 3 FDIC institution directory, current count
- Routing number
- 073909578
- Latest call report
- Q2 2026, FFIEC 051 · Farmers State Bank call report
- Holding company
- WHITTEMORE BANCSHARES, INC.
- Asset rank in state
- 164th of 225 in Iowa
Problem loans are rising at Farmers State Bank. The Algona, Iowa bank had $150 million in assets at June 30, 2026, up 9.9% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.91% of loans from 0.14% a year earlier. It grew deposits 11.2% over the year, about triple the median of 4.0% for the 2,660 banks with $100 million to $1 billion in assets. It also holds commercial real estate loans equal to only 39% of its capital, about a third the median of 1.2 times for banks its size.
The commercial and industrial book ($17 million) is worsening: 4.00% of it is past due or on nonaccrual, up from 0.12% a year earlier. Earnings jumped: net income for the quarter was $670,000, 30% above the same quarter a year earlier.
As of June 30, 2026, Farmers State Bank reported a return on assets of 1.74%, a nonperforming-loan ratio of 0.91% and a Texas ratio of 4.91%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Farmers State Bank is the 164th largest of the 225 banks headquartered in Iowa. From Q1 2026 to Q2 2026, its total assets fell 4.4% to $150.5M, loans rose 3.6% and deposits fell 5.2%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 28.1% of total loans, ahead of farmland and other real estate loans at 20.0%. The FDIC Summary of Deposits lists 3 offices for it, in Algona, IA, West Bend, IA and Whittemore, IA; its Algona office books 68% of its branch deposits. Judged on its Q2 2026 call report, Farmers State Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 501 E State St, Algona, IA 50511
- County
- Kossuth
- 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
- January 1, 1895
- Domestic offices
- 3 FDIC institution directory, current count
- Employees (FTE)
- 17
- Domestic deposits
- $130.7M
- Allowance for credit losses
- $1.5M
- Net charge-offs (YTD)
- -$19K
- Average total assets
- $154.1M
- Average total loans
- $107.9M
- Average interest-bearing deposits
- $121.0M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8760
- Fed RSSD
- 208440
- Website
- www.fsbiowa.com →
- Parent Holding Company
- WHITTEMORE BANCSHARES, INC. (RSSD 1245611)
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, Farmers State Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Farmers State Bank's total assets moved between a low of $136.9M (Q2 2025) and a high of $157.4M (Q1 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
$150.5M total assets against $136.9M; $131.4M total liabilities against $119.4M.
$109.0M net loans and leases against $99.9M; $130.7M total deposits against $117.5M.
$29.9M securities against $26.9M; $6.5M cash and balances due against $4.9M.
$2.0M total interest income against $1.8M; $522K total interest expense against $560K.
$1.5M net interest income against $1.3M.
$128K total noninterest income against $147K; $901K total noninterest expense against $833K.
$15K provision for credit losses against $38K.
$670K net income against $515K.
1.74% return on assets against 1.44%; 4.00% net interest margin against 3.71%.
12.70% tier 1 leverage ratio against 12.78%.
Inside the full Farmers State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFarmers State Bank rankings
Its closest position to the top of a national ranking is 837 of 3,611, for ROA; its furthest is 3,294 of 4,196, for total assets.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 1.04% (Q3 2024) to 1.74% (Q2 2026) and its net interest margin ran from 3.31% (Q3 2024) to 4.02% (Q3 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.70% | 1.74% | 0.91% | 4.91% | 4.00% |
| Q1 2026 | 12.33% | 1.30% | 0.69% | 3.60% | 3.57% |
| Q4 2025 | 13.13% | 1.36% | 0.70% | 3.87% | 3.92% |
| Q3 2025 | 13.45% | 1.46% | 0.57% | 3.31% | 4.02% |
| Q2 2025 | 12.78% | 1.44% | 0.14% | 0.76% | 3.71% |
| Q1 2025 | 12.23% | 1.25% | 0.27% | 1.52% | 3.59% |
| Q4 2024 | 12.11% | 1.22% | 0.09% | 0.52% | 3.58% |
| Q3 2024 | 12.17% | 1.04% | 0.10% | 0.58% | 3.31% |
Swipe the table sideways to see every column.
Branch Network
View all 3 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 State Bank (main office) | Algona , IA | 50511 | $89.4M |
| West Bend Branch | West Bend , IA | 50597 | $23.4M |
| Whittemore Branch | Whittemore , IA | 50598 | $17.9M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in IA, rank 181 of 261 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $70K approved, $70K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2011 (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 State Bank
What are Farmers State Bank's total assets?
As of the Q2 2026 filing, Farmers State Bank reported total assets of $150.5 million in its FFIEC call report.
Where is Farmers State Bank headquartered?
It is headquartered in Algona, IA, United States.
When was Farmers State Bank founded?
It was established in 1895, per the FDIC institution directory.
Is Farmers State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8760). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Farmers State Bank?
Farmers State Bank's primary federal regulator is the FDIC.
How many branches does Farmers State Bank operate?
It operates 3 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Farmers State Bank's Texas Ratio?
Its Texas Ratio is 4.91% 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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