Farmers State Bank (Waterloo, 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 Waterloo, IA, established in 1903 (FDIC certificate 12855), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $1.60B, down 1.6% from Q2 2025, the 19th largest of 225 banks headquartered in Iowa. Its CET1 capital ratio was 13.41% 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
- 12855
- Headquarters
- Waterloo, IA
- Established
- 1903
- Total assets, Q2 2026
- $1.60B
- Assets vs Q2 2025
- -1.6%
- CET1 ratio, Q2 2026
- 13.41%
- Domestic offices
- 8 FDIC institution directory, current count
- Routing number
- 073908045
- Latest call report
- Q2 2026, FFIEC 051 · Farmers State Bank call report
- Holding company
- FSB FINANCIAL SERVICES, INC.
- Asset rank in state
- 19th of 225 in Iowa
Farmers State Bank, based in Waterloo, Iowa, reported $1.6 billion in assets at June 30, 2026, down 1.6% from a year earlier. It carries problem assets equal to 0.1% of the capital and reserves that would absorb them, a small fraction of the median of 3.6% for the 895 banks with $1 billion to $10 billion in assets. It also lost 2.4% of its deposits over the year, lower than about 9 in 10 banks its size (median 5.1%).
Earnings jumped: net income for the quarter was $6.0 million, 47% above the same quarter a year earlier. Its $210 million commercial and industrial book is improving, with 0.01% past due or on nonaccrual, down from 1.82% a year earlier. Funding is the softer spot: it holds about half of its deposits (46%) above the FDIC insurance limit, higher than about three-quarters of banks its size (median 30.9%).
As of June 30, 2026, Farmers State Bank reported a CET1 capital ratio of 13.41%, a return on assets of 1.52%, a nonperforming-loan ratio of 0.01% and a Texas ratio of 0.09%. The figures come from its call report filed with the FFIEC.
Farmers State Bank ranks as the 19th largest of the 225 banks based in Iowa, by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 1.2% to $1.60B, loans rose 0.6% and deposits fell 0.2%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 24.1% of total loans, followed by commercial and industrial loans at 16.1%. The FDIC Summary of Deposits lists 8 offices for it, in 7 cities in IA; its Waterloo 2 offices book 51% of its branch deposits. On its Q2 2026 call report, Farmers State Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 131 Tower Park Dr, Waterloo, IA 50701
- County
- Black Hawk
- Metro Area
- Waterloo-Cedar Falls, 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
- June 25, 1903
- Domestic offices
- 8 FDIC institution directory, current count
- Employees (FTE)
- 102
- Domestic deposits
- $1.26B
- Allowance for credit losses
- $13.8M
- Net charge-offs (YTD)
- $67K
- Average total assets
- $1.59B
- Average total loans
- $1.30B
- Average interest-bearing deposits
- $1.07B
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 12855
- Fed RSSD
- 840747
- Website
- www.fsb1879.com →
- Parent Holding Company
- FSB FINANCIAL SERVICES, INC. (RSSD 1204832)
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
Over the 12 quarters to Q2 2026, Farmers State Bank's total assets ran between $1.53B (Q3 2023) and $1.64B (Q4 2024), 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
$1.60B total assets against $1.63B; $1.43B total liabilities against $1.48B.
$1.29B net loans and leases against $1.29B; $1.26B total deposits against $1.29B.
$226.3M securities against $243.0M; $26.7M cash and balances due against $39.9M.
$21.2M total interest income against $20.4M; $9.1M total interest expense against $11.4M.
$12.1M net interest income against $9.0M.
$939K total noninterest income against $1.0M; $6.5M total noninterest expense against $5.8M.
$273K provision for credit losses against -$155K.
$6.0M net income against $4.1M.
1.52% return on assets against 1.02%; 3.22% net interest margin against 2.40%.
13.41% CET1 capital ratio against 12.62%; 11.20% tier 1 leverage ratio against 10.05%.
Inside the full Farmers State Bank 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.
Loans outstanding are at or above total deposits. The bank reports little borrowing or brokered funding, so the difference is carried mainly by equity and other liabilities. Worth watching if loan growth continues to outpace deposits. Industry heuristic, not a supervisory threshold.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Farmers State Bank rankings
Its closest position to the top of a national ranking is 697 of 4,196, for total assets; its furthest is 3,246 of 3,640, for Texas Ratio.
Metric pages for Farmers State Bank: Uninsured deposits.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.37% (Q3 2024) to 1.52% (Q2 2026) and its net interest margin ran from 1.82% (Q3 2024) to 3.22% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.41% | 1.52% | 0.01% | 0.09% | 3.22% |
| Q1 2026 | 13.25% | 1.34% | 0.01% | 0.08% | 3.04% |
| Q4 2025 | 12.83% | 1.42% | 0.05% | 0.35% | 2.93% |
| Q3 2025 | 12.80% | 1.10% | 0.04% | 0.39% | 2.64% |
| Q2 2025 | 12.62% | 1.02% | 0.00% | 0.11% | 2.40% |
| Q1 2025 | 12.30% | 0.70% | 0.01% | 0.15% | 2.14% |
| Q4 2024 | 12.18% | 0.76% | 0.03% | 0.23% | 2.23% |
| Q3 2024 | 12.05% | 0.37% | 0.03% | 0.31% | 1.82% |
Swipe the table sideways to see every column.
Branch Network
View all 8 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) | Waterloo , IA | 50701 | $439.6M |
| Downtown Cedar Falls | Cedar Falls , IA | 50613 | $252.0M |
| Farmers State Bank (main office) | Waterloo , IA | 50701 | $196.4M |
| Jesup Branch | Jesup , IA | 50648 | $146.9M |
| West Des Moines Branch | West Des Moines , IA | 50266 | $114.5M |
| Waverly Branch | Waverly , IA | 50677 | $57.3M |
| Farmers State Bank, Gilbertville Branch | Gilbertville , IA | 50634 | $48.5M |
| Dunkerton Branch | Dunkerton , IA | 50626 | $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 |
|---|---|---|---|
| November 1, 1994 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| November 1, 1994 | Structure Change | Acquired State Bank of Fayette Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
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
- 1.0% of deposits in IA, rank 23 of 261 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 516 applications, 390 loans originated, $105.3M originated, across 5 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 11 loans, $5.5M approved, $504K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (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
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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 $1.60 billion in its FFIEC call report.
Where is Farmers State Bank headquartered?
It is headquartered in Waterloo, IA, United States.
When was Farmers State Bank founded?
It was established in 1903, per the FDIC institution directory.
Is Farmers State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #12855). 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.
What is Farmers State Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 13.41% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Farmers State Bank operate?
It operates 8 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 0.09% 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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