TellerScore

Farmers & Merchants State Bank is a state-chartered bank headquartered in Waterloo, Wisconsin, in business for about 129 years. At the end of Q2 2026 it reported $245.6M in total assets and $183.0M in deposits, with 3 offices.

Based on its Q2 2026 filing, Farmers & Merchants State Bank scores 72/100, which we describe as strong. That is higher than 50% of 2,650 banks with $100 million – $1 billion. Among 154 banks headquartered in Wisconsin, it ranks 83rd. Its strongest component is loan quality (100/100; 0.00%), and its lowest is funding & liquidity (50/100; 116% loans-to-deposits, 15% uninsured).

TellerScore · Q2 2026

Scorecard

Capital cushion61/100
Tier 1 leverage ratio: 11.13%
Loan quality100/100
Noncurrent loans ÷ total loans: 0.00%
Earnings57/100
Return on assets (annualized): 0.92%
Funding & liquidity50/100
Loans ÷ deposits and uninsured-deposit share: 115.7% · 15.1% uninsured
Problem-loan coverage100/100
"Texas ratio": (noncurrent loans + foreclosed property) ÷ (equity + loan-loss reserves): 0.00%

The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.

9 quarters

Health trend

From Q2 2025 to Q2 2026, the score rose 2 points (70 → 72), mostly because the earnings component improved by 12 points.

TellerScore
687072Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTellerScore
Q2 202469
Q3 202469
Q4 202468
Q1 202568
Q2 202570
Q3 202571
Q4 202571
Q1 202671
Q2 202672
Tier 1 leverage ratio
5.00%8.08%11.17%well-capitalized benchmarkQ2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTier 1 leverage ratio
Q2 202410.86%
Q3 202410.85%
Q4 202410.51%
Q1 202510.74%
Q2 202511.04%
Q3 202511.17%
Q4 202510.85%
Q1 202611.01%
Q2 202611.13%
Noncurrent loans
0.00%0.01%0.02%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterNoncurrent loans
Q2 20240.00%
Q3 20240.00%
Q4 20240.00%
Q1 20250.02%
Q2 20250.00%
Q3 20250.00%
Q4 20250.00%
Q1 20260.00%
Q2 20260.00%
Return on assets
0.56%0.74%0.92%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterReturn on assets
Q2 20240.58%
Q3 20240.59%
Q4 20240.64%
Q1 20250.56%
Q2 20250.62%
Q3 20250.67%
Q4 20250.84%
Q1 20260.81%
Q2 20260.92%
Quarter-by-quarter figures
QuarterScoreAssetsCapitalProblem loansROALoans/deposits
Q2 202672$245.6M11.13%0.00%0.92%115.7%
Q1 202671$245.6M11.01%0.00%0.81%111.8%
Q4 202571$240.8M10.85%0.00%0.84%114.0%
Q3 202571$239.3M11.17%0.00%0.67%114.2%
Q2 202570$237.4M11.04%0.00%0.62%114.2%
Q1 202568$240.2M10.74%0.02%0.56%110.3%
Q4 202468$240.3M10.51%0.00%0.64%112.2%
Q3 202469$240.5M10.85%0.00%0.59%110.6%
Q2 202469$234.4M10.86%0.00%0.58%114.6%

2,650 peers · $100 million – $1 billion

How it compares with peers

Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).

Capital ratio11.13%
53rd
Total risk-based capital0.00%
24th
Problem loans0.00%
88th
Net charge-offs-0.01%
89th
Return on assets0.92%
29th
Net interest margin3.48%
27th
Efficiency ratio70.0%
30th
Loans to deposits115.7%
2nd
Uninsured deposits15.1%
81st
Loan-loss reserves1.11%
40th
Texas ratio0.0%
89th

Similar-size banks in Wisconsin

InstitutionScoreAssetsCapitalProblem loansCompare
Cleveland State BankBank Cleveland, WI69 out of 100, Moderate$246.5M9.2%0.30%vs
Citizens State BankBank Cadott, WI58 out of 100, Moderate$237.6M8.8%0.99%vs
Security BankBank New Auburn, WI69 out of 100, Moderate$253.8M11.6%1.19%vs
Great North BankBank Florence, WI44 out of 100, Below average$233.4M8.8%1.40%vs
Marathon BankBank Wausau, WI82 out of 100, Strong$261.1M15.3%0.03%vs
Community Bank of CameronBank Cameron, WI73 out of 100, Strong$226.9M9.0%0.53%vs

Deposit insurance

Is my money safe at Farmers & Merchants State Bank?

Yes. Farmers & Merchants State Bank is an FDIC-insured institution (FDIC certificate #13242). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

An estimated 15.1% of deposits ($27.7M) are above the $250,000 FDIC insurance limit, below the peer median of 24%. Insured balances are protected regardless of the score.

The tier 1 leverage ratio is 11.13%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 0.00% (benchmark: 10%).

Check how much of your own balance is covered

3 locations

Branches

Farmers & Merchants State Bank lists 3 offices in 3 cities. Most locations:

  • Lake Mills, WI (1)
  • Marshall, WI (1)
  • Waterloo, WI (1)

All branch addresses and map

HMDA 2025

Mortgage lending

In 2025, Farmers & Merchants State Bank reported 85 home-loan applications under HMDA (LEI 5493006S21NZTF9Y1L04): 74 originated ($29,350,000 total), 5 denied, and 3 withdrawn or closed by the applicant. Its denial rate on decided applications was 6.1%, compared with 22.2% for all lenders nationwide.

Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.

Identity & history

Profile

Legal name
Farmers & Merchants State Bank
Type
State-chartered bank
FDIC certificate #
13242
RSSD ID
79145
Primary regulator
FDIC
Holding company
Maunesha Bancshares Inc
Established
January 1, 1897
Headquarters
210 W Madison St, Waterloo, WI 53594
Employees
33

Quick answers

Farmers & Merchants State Bank: common questions

Is Farmers & Merchants State Bank FDIC insured?

Yes. Farmers & Merchants State Bank is an FDIC-insured institution (FDIC certificate #13242). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

What is Farmers & Merchants State Bank's TellerScore?

72 out of 100 (Strong), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.

Has Farmers & Merchants State Bank ever failed?

There is no failure record for FDIC certificate #13242 in the FDIC failed bank list.

How many branches does Farmers & Merchants State Bank have?

3 offices as of the latest FDIC data.

Nearby

Highest-scoring banks and credit unions with branches near Waterloo

InstitutionScoreAssetsCapitalProblem loansCompare
Mississippi Public Employees Federal Credit UnionCredit union Jackson, MS97 out of 100, Very strong$29.2M18.1%0.10%vs
National Exchange Bank and TrustBank Fond Du Lac, WI88 out of 100, Very strong$2.9B20.1%0.37%vs
Hustisford State BankBank Hustisford, WI84 out of 100, Strong$80.3M15.2%0.22%vs
Badger BankBank Fort Atkinson, WI82 out of 100, Strong$206.0M12.4%0.07%vs
Capitol BankBank Madison, WI79 out of 100, Strong$565.3M12.4%0.02%vs
Farmers and Merchants Union BankBank Columbus, WI78 out of 100, Strong$872.1M10.0%0.15%vs