First Farmers & Merchants Bank
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Data as of · sourced from FFIEC call reports. How we update
First Farmers & Merchants Bank is an FDIC-insured commercial bank headquartered in Cannon Falls, MN, established in 1915 (FDIC certificate 10168), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $486.4M, up 4.8% from Q2 2025, the 52nd largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 14.04% 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
- 10168
- Headquarters
- Cannon Falls, MN
- Established
- 1915
- Total assets, Q2 2026
- $486.4M
- Assets vs Q2 2025
- +4.8%
- CET1 ratio, Q2 2026
- 14.04%
- Domestic offices
- 7 FDIC institution directory, current count
- Routing number
- 091912330
- Latest call report
- Q2 2026, FFIEC 041 · First Farmers & Merchants Bank call report
- Holding company
- 215 HOLDING CO.
- Asset rank in state
- 52nd of 221 in Minnesota
First Farmers & Merchants Bank, based in Cannon Falls, Minnesota, reported $486 million in assets at June 30, 2026, up 4.8% 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 2.6% for the 2,660 banks with $100 million to $1 billion in assets. It also pays an average of 1.22% on its deposits and borrowings, lower than about three-quarters of banks its size (median 1.80%).
Earnings jumped: net income for the quarter was $1.9 million, 54% above the same quarter a year earlier.
As of June 30, 2026, First Farmers & Merchants Bank reported a CET1 capital ratio of 14.04%, a return on assets of 1.55%, a nonperforming-loan ratio of 0.01% and a Texas ratio of 0.05%. The figures come from its call report filed with the FFIEC.
First Farmers & Merchants Bank ranks as the 52nd 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 rose 2.7% to $486.4M, loans rose 4.3% and deposits rose 2.5%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 21.6% of total loans, ahead of farmland and other real estate loans at 20.7%. The FDIC Summary of Deposits lists 7 offices for it, in 5 cities in MN; its Cannon Falls 3 offices book 40% of its branch deposits. On its Q2 2026 call report, First Farmers & Merchants Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 920 4th St S, Cannon Falls, MN 55009
- County
- Goodhue
- Metro Area
- Red Wing, 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 041
- Established
- June 21, 1915
- Former names
- White Rock Bank (2006-2013)
- Domestic offices
- 7 FDIC institution directory, current count
- Employees (FTE)
- 54
- Domestic deposits
- $436.8M
- Allowance for credit losses
- $3.0M
- Net charge-offs (YTD)
- -$1K
- Average total assets
- $484.1M
- Average total loans
- $303.6M
- Average interest-bearing deposits
- $358.6M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10168
- Fed RSSD
- 217059
- Website
- www.ffmbank.com →
- Parent Holding Company
- 215 HOLDING CO. (RSSD 1247576)
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, First Farmers & Merchants Bank's total assets ranged from $451.4M (Q1 2025) to $490.5M (Q4 2025), 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
$486.4M total assets against $464.3M; $439.4M total liabilities against $424.7M.
$306.9M net loans and leases against $292.3M; $436.8M total deposits against $421.0M.
$134.1M securities against $131.2M; $33.7M cash and balances due against $30.5M.
$6.2M total interest income against $5.7M; $1.3M total interest expense against $1.4M.
$4.9M net interest income against $4.4M.
$428K total noninterest income against $392K; $2.6M total noninterest expense against $2.4M.
$1K provision for credit losses against $0.
$1.9M net income against $1.2M.
1.55% return on assets against 1.05%; 4.21% net interest margin against 3.85%.
14.04% CET1 capital ratio against 13.09%; 10.09% tier 1 leverage ratio against 9.48%.
Inside the full First Farmers & Merchants Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst Farmers & Merchants Bank rankings
Its closest position to the top of a national ranking is 744 of 3,606, for efficiency ratio; its furthest is 3,290 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.47% (Q3 2024) to 1.81% (Q4 2024) and its net interest margin ran from 3.00% (Q3 2024) to 4.21% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 14.04% | 1.55% | 0.01% | 0.05% | 4.21% |
| Q1 2026 | 13.41% | 1.19% | 0.01% | 0.06% | 4.07% |
| Q4 2025 | 14.16% | 1.75% | 0.01% | 0.05% | 3.98% |
| Q3 2025 | 13.10% | 1.09% | 0.01% | 0.06% | 3.94% |
| Q2 2025 | 13.09% | 1.05% | 0.01% | 0.06% | 3.85% |
| Q1 2025 | 13.33% | 0.88% | 0.01% | 0.06% | 3.61% |
| Q4 2024 | 13.43% | 1.81% | 0.01% | 0.06% | 3.30% |
| Q3 2024 | 12.74% | 0.47% | 0.01% | 0.06% | 3.00% |
Swipe the table sideways to see every column.
Branch Network
View all 7 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 |
|---|---|---|---|
| First Farmers & Merchants Bank (main office) | Cannon Falls , MN | 55009 | $142.9M |
| Goodhue Branch | Goodhue , MN | 55027 | $88.7M |
| Red Wing Branch | Red Wing , MN | 55066 | $87.7M |
| Le Sueur Branch | Le Sueur , MN | 56058 | $80.0M |
| White Rock Branch | Cannon Falls , MN | 55009 | $33.1M |
| Bellechester Branch | Bellchester , MN | 55027 | $4.5M |
| Cannon Falls Family Fare Branch | Cannon Falls , MN | 55009 | $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 |
|---|---|---|---|
| August 24, 2013 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 24, 2013 | Structure Change | Acquired First Farmers & Merchants National Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 21, 1996 | Structure Change | Acquired Goodhue State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 20, 1996 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 4 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.1% of deposits in MN, rank 70 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 27 applications, 20 loans originated, $7.9M originated, across 2 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $260K approved, $260K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2023 (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 First Farmers & Merchants Bank
What are First Farmers & Merchants Bank's total assets?
As of the Q2 2026 filing, First Farmers & Merchants Bank reported total assets of $486.4 million in its FFIEC call report.
Where is First Farmers & Merchants Bank headquartered?
It is headquartered in Cannon Falls, MN, United States.
When was First Farmers & Merchants Bank founded?
It was established in 1915, per the FDIC institution directory.
Is First Farmers & Merchants Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10168). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Farmers & Merchants Bank?
First Farmers & Merchants Bank's primary federal regulator is the FDIC.
What is First Farmers & Merchants Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 14.04% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does First Farmers & Merchants Bank operate?
It operates 7 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Farmers & Merchants Bank's Texas Ratio?
Its Texas Ratio is 0.05% 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.
What was First Farmers & Merchants Bank previously called?
The charter now named First Farmers & Merchants Bank has also operated as White Rock Bank (2006-2013), per FDIC structure-change records.
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