First Farmers & Merchants State Bank of Grand Meadow
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Data as of · sourced from FFIEC call reports. How we update
First Farmers & Merchants State Bank of Grand Meadow is an FDIC-insured commercial bank headquartered in Grand Meadow, MN, supervised by the FDIC, with $93.0M in total assets at Q2 2026, down 3.0% from Q2 2025, the 177th largest of 221 banks headquartered in Minnesota. It was established in 1938 and holds FDIC certificate 15621. Its CET1 capital ratio was 11.46% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 15621
- Headquarters
- Grand Meadow, MN
- Established
- 1938
- Total assets, Q2 2026
- $93.0M
- Assets vs Q2 2025
- -3.0%
- CET1 ratio, Q2 2026
- 11.46%
- Domestic offices
- 3 · First Farmers & Merchants State Bank of Grand Meadow branches FDIC institution directory, current count
- Routing number
- 091216243
- Safety and soundness
- Is First Farmers & Merchants State Bank of Grand Meadow safe?
- Latest call report
- Q2 2026, FFIEC 041 · First Farmers & Merchants State Bank of Grand Meadow Q3 2026 call report, filed October 20, 2026 (preliminary)
- Holding company
- 215 HOLDING CO.
- Asset rank in state
- 177th of 221 in Minnesota
First Farmers & Merchants State Bank of Grand Meadow operates with a thinner capital cushion than most banks of its size. Based in Grand Meadow, Minnesota, it had $93 million in assets at June 30, 2026, down 3.0% from a year earlier. It holds common equity equal to 11.46% of its risk-weighted assets, lower than about 9 in 10 of the 533 banks with less than $100 million in assets (median 20.80%). It also lost 4.1% of its deposits over the year, lower than about three-quarters of banks its size (median 2.5%).
Loans and deposits moved in opposite directions: over the year loans rose 6.9% and deposits fell 4.1%. The commercial and industrial book ($8.8 million) is worsening: 8.73% of it is past due or on nonaccrual, up from 7.19% a year earlier. Concentration is the risk to watch: it holds commercial real estate loans worth 0.9 times its capital, about triple the median of 30% for banks its size.
As of June 30, 2026, First Farmers & Merchants State Bank of Grand Meadow reported a CET1 capital ratio of 11.46%, a return on assets of 1.01%, a nonperforming-loan ratio of 0.17% and a Texas ratio of 1.31%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, First Farmers & Merchants State Bank of Grand Meadow is the 177th largest by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 6.8% to $93.0M, loans rose 6.8% and deposits fell 7.6%. Its loan book on June 30, 2026 was led by farmland and other real estate loans, at 31.9% of total loans, followed by agricultural production loans at 22.1%. Its 3 offices in the FDIC Summary of Deposits are in Grand Meadow, MN, Stewartville, MN and Racine, MN; its Grand Meadow office books 54% of its branch deposits. Judged on its Q2 2026 call report, First Farmers & Merchants State Bank of Grand Meadow meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 105 Main St N, Grand Meadow, MN 55936
- County
- Mower
- Metro Area
- Austin, 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
- April 9, 1938
- Former names
- First American State Bank of Grand Meadow (1969-1993)
- Domestic offices
- 3 FDIC institution directory, current count
- Employees (FTE)
- 13
- Domestic deposits
- $83.2M
- Allowance for credit losses
- $1.1M
- Net charge-offs (YTD)
- $9K
- Average total assets
- $96.1M
- Average total loans
- $75.9M
- Average interest-bearing deposits
- $71.7M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- October 4, 1938
- FDIC Cert
- 15621
- Fed RSSD
- 77150
- 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
First Farmers & Merchants State Bank of Grand Meadow's total assets moved between a low of $87.8M (Q3 2024) and a high of $99.8M (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
$93.0M total assets against $95.9M; $84.4M total liabilities against $88.2M.
$75.3M net loans and leases against $70.6M; $83.2M total deposits against $86.8M.
$12.0M securities against $13.7M; $3.6M cash and balances due against $9.9M.
$1.5M total interest income against $1.5M; $401K total interest expense against $440K.
$1.1M net interest income against $1.0M.
$45K total noninterest income against $43K; $615K total noninterest expense against $610K.
$160K provision for credit losses against $75K.
$243K net income against $220K.
1.01% return on assets against 0.94%; 4.51% net interest margin against 4.45%.
11.46% CET1 capital ratio against 11.18%; 9.44% tier 1 leverage ratio against 8.86%.
Inside the full First Farmers & Merchants State Bank of Grand Meadow terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
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Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.41% (Q1 2025) to 1.29% (Q1 2026) and its net interest margin ran from 3.58% (Q3 2024) to 4.51% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.46% | 1.01% | 0.17% | 1.31% | 4.51% |
| Q1 2026 | 11.99% | 1.29% | 2.52% | 19.38% | 4.25% |
| Q4 2025 | 11.93% | 1.01% | 0.60% | 4.54% | 4.06% |
| Q3 2025 | 11.64% | 0.91% | 0.62% | 4.89% | 4.13% |
| Q2 2025 | 11.18% | 0.94% | 0.00% | 0.00% | 4.45% |
| Q1 2025 | 10.97% | 0.41% | 0.04% | 0.35% | 3.74% |
| Q4 2024 | 11.26% | 1.19% | 0.17% | 1.46% | 3.76% |
| Q3 2024 | 11.28% | 0.42% | 0.05% | 0.39% | 3.58% |
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 |
|---|---|---|---|
| First Farmers & Merchants State Bank of Grand Meadow (main office) | Grand Meadow , MN | 55936 | $45.2M |
| Stewartville Branch | Stewartville , MN | 55976 | $30.8M |
| Detached Facility | Racine , MN | 55967 | $7.2M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in MN, rank 210 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $3.9M approved, $3.9M average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2017 (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 State Bank of Grand Meadow
What are First Farmers & Merchants State Bank of Grand Meadow's total assets?
As of the Q2 2026 filing, First Farmers & Merchants State Bank of Grand Meadow reported total assets of $93.0 million in its FFIEC call report.
Where is First Farmers & Merchants State Bank of Grand Meadow headquartered?
It is headquartered in Grand Meadow, MN, United States.
When was First Farmers & Merchants State Bank of Grand Meadow founded?
It was established in 1938, per the FDIC institution directory.
Is First Farmers & Merchants State Bank of Grand Meadow FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #15621). 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 State Bank of Grand Meadow?
First Farmers & Merchants State Bank of Grand Meadow's primary federal regulator is the FDIC.
What is First Farmers & Merchants State Bank of Grand Meadow's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 11.46% in its Q2 2026 call report, above regulatory requirements.
How many branches does First Farmers & Merchants State Bank of Grand Meadow 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 First Farmers & Merchants State Bank of Grand Meadow's Texas Ratio?
Its Texas Ratio is 1.31% 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 State Bank of Grand Meadow previously called?
The charter now named First Farmers & Merchants State Bank of Grand Meadow has also operated as First American State Bank of Grand Meadow (1969-1993), per FDIC structure-change records.
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