First Farmers & Merchants National Bank (Luverne, MN)
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Data as of · sourced from FFIEC call reports. How we update
First Farmers & Merchants National Bank is an FDIC-insured commercial bank headquartered in Luverne, MN, established in 1931 (FDIC certificate 5186), and it is supervised by the OCC. At Q2 2026 it reported total assets of $242.6M, up 7.6% from Q2 2025, the 101st largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 14.32% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 5186
- Headquarters
- Luverne, MN
- Established
- 1931
- Total assets, Q2 2026
- $242.6M
- Assets vs Q2 2025
- +7.6%
- CET1 ratio, Q2 2026
- 14.32%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 091216007
- Latest call report
- Q2 2026, FFIEC 041 · First Farmers & Merchants National Bank Q3 2026 call report, filed October 23, 2026 (preliminary)
- Holding company
- 215 HOLDING CO.
- Asset rank in state
- 101st of 221 in Minnesota
Problem loans are rising at First Farmers & Merchants National Bank. Based in Luverne, Minnesota, it had $243 million in assets at June 30, 2026, up 7.6% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.85% of loans from 0.00% a year earlier. It spends about 52 cents to bring in each dollar of revenue, lower than about three-quarters of the 2,660 banks with $100 million to $1 billion in assets (median 61 cents). It also grew deposits 8.2% over the year, about double the median of 4.0% for banks its size.
Earnings jumped: net income for the quarter was $852,000, 51% above the same quarter a year earlier.
As of June 30, 2026, First Farmers & Merchants National Bank reported a CET1 capital ratio of 14.32%, a return on assets of 1.37%, a nonperforming-loan ratio of 0.85% and a Texas ratio of 5.53%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, First Farmers & Merchants National Bank is the 101st largest of the 221 banks headquartered in Minnesota. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 2.5% to $242.6M, loans rose 0.2% and deposits fell 3.6%. The largest part of its loan book on June 30, 2026 was agricultural production loans, at 31.5% of total loans, ahead of farmland and other real estate loans at 26.5%. The FDIC Summary of Deposits lists 2 offices for it, in Pipestone, MN and Luverne, MN; its Pipestone office books 64% of its branch deposits. By the capital ratios in its Q2 2026 call report, First Farmers & Merchants National Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 303 E Main St, Luverne, MN 56156
- County
- Rock
- Metro Area
- Sioux Falls, SD-MN
- Charter
- Commercial bank, national (federal) charter, Fed member, OCC-supervised
- Primary Regulator
- OCC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- January 1, 1931
- Former names
- First Farmers and Merchants National Bank (1987); First Bank Luverne (National Association) (1984-1987); First National Bank of Luverne (1950-1984)
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 26
- Domestic deposits
- $213.5M
- Allowance for credit losses
- $2.0M
- Net charge-offs (YTD)
- $0
- Average total assets
- $249.6M
- Average total loans
- $183.9M
- Average interest-bearing deposits
- $186.5M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 5186
- Fed RSSD
- 917854
- 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
Over the 12 quarters to Q2 2026, First Farmers & Merchants National Bank's total assets ran between $221.0M (Q3 2023) and $249.0M (Q1 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
$242.6M total assets against $225.5M; $216.2M total liabilities against $202.4M.
$183.0M net loans and leases against $169.5M; $213.5M total deposits against $197.3M.
$44.6M securities against $44.3M; $10.6M cash and balances due against $8.0M.
$3.4M total interest income against $3.0M; $901K total interest expense against $870K.
$2.5M net interest income against $2.1M.
$100K total noninterest income against $76K; $1.3M total noninterest expense against $1.2M.
$0 provision for credit losses against $0.
$852K net income against $563K.
1.37% return on assets against 0.98%; 4.05% net interest margin against 3.76%.
14.32% CET1 capital ratio against 13.96%; 11.62% tier 1 leverage ratio against 11.53%.
Inside the full First Farmers & Merchants National Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst Farmers & Merchants National Bank rankings
Its closest position to the top of a national ranking is 929 of 3,606, for efficiency ratio; its furthest is 2,741 of 4,196, for total assets.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.86% (Q3 2024) to 2.03% (Q4 2024) and its net interest margin ran from 3.38% (Q3 2024) to 4.12% (Q3 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 14.32% | 1.37% | 0.85% | 5.53% | 4.05% |
| Q1 2026 | 13.59% | 1.12% | 0.32% | 2.25% | 3.88% |
| Q4 2025 | 14.24% | 1.86% | 0.35% | 2.24% | 3.91% |
| Q3 2025 | 14.25% | 1.30% | 0.00% | 0.00% | 4.12% |
| Q2 2025 | 13.96% | 0.98% | 0.00% | 0.00% | 3.76% |
| Q1 2025 | 13.66% | 0.89% | 0.00% | 1.59% | 3.61% |
| Q4 2024 | 14.01% | 2.03% | 0.00% | 1.56% | 3.55% |
| Q3 2024 | 13.71% | 0.86% | 0.00% | 1.58% | 3.38% |
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 |
|---|---|---|---|
| Pipestone Branch | Pipestone , MN | 56164 | $137.7M |
| First Farmers & Merchants National Bank (main office) | Luverne , MN | 56156 | $75.8M |
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 |
|---|---|---|---|
| October 1, 1984 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| October 1, 1984 | Structure Change | Acquired First Bank (N.A.) - Pipestone 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
- <0.1% of deposits in MN, rank 131 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $265K approved, $265K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2018 (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 First Farmers & Merchants National Bank
What are First Farmers & Merchants National Bank's total assets?
As of the Q2 2026 filing, First Farmers & Merchants National Bank reported total assets of $242.6 million in its FFIEC call report.
Where is First Farmers & Merchants National Bank headquartered?
It is headquartered in Luverne, MN, United States.
When was First Farmers & Merchants National Bank founded?
It was established in 1931, per the FDIC institution directory.
Is First Farmers & Merchants National Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #5186). 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 National Bank?
First Farmers & Merchants National Bank's primary federal regulator is the OCC.
What is First Farmers & Merchants National Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 14.32% 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 National Bank 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 First Farmers & Merchants National Bank's Texas Ratio?
Its Texas Ratio is 5.53% 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 National Bank previously called?
The charter now named First Farmers & Merchants National Bank has also operated as First Farmers and Merchants National Bank (1987), First Bank Luverne (National Association) (1984-1987), First National Bank of Luverne (1950-1984), per FDIC structure-change records.
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