Farmers and Merchants State Bank is a state-chartered bank headquartered in Winterset, Iowa, in business for about 88 years. At the end of Q2 2026 it reported $271.7M in total assets and $241.1M in deposits, with 5 offices.
Farmers and Merchants State Bank has a TellerScore of 78 out of 100 (strong) based on Q2 2026 data — higher than 72% of its 2,650 banks with $100 million – $1 billion. Among 226 banks headquartered in Iowa, it ranks 74th. Loan quality contributes the most (100/100, 0.00%); capital cushion contributes the least (57/100, 10.68%).
TellerScore · Q2 2026
Scorecard
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 (76 → 78), mostly because the capital cushion component improved by 6 points.
Show as table
| Quarter | TellerScore |
|---|---|
| Q2 2024 | 77 |
| Q3 2024 | 77 |
| Q4 2024 | 76 |
| Q1 2025 | 76 |
| Q2 2025 | 76 |
| Q3 2025 | 77 |
| Q4 2025 | 77 |
| Q1 2026 | 77 |
| Q2 2026 | 78 |
Show as table
| Quarter | Tier 1 leverage ratio |
|---|---|
| Q2 2024 | 10.49% |
| Q3 2024 | 10.41% |
| Q4 2024 | 10.01% |
| Q1 2025 | 9.93% |
| Q2 2025 | 10.09% |
| Q3 2025 | 10.42% |
| Q4 2025 | 10.33% |
| Q1 2026 | 10.43% |
| Q2 2026 | 10.68% |
Show as table
| Quarter | Noncurrent loans |
|---|---|
| Q2 2024 | 0.00% |
| Q3 2024 | 0.00% |
| Q4 2024 | 0.00% |
| Q1 2025 | 0.00% |
| Q2 2025 | 0.00% |
| Q3 2025 | 0.00% |
| Q4 2025 | 0.00% |
| Q1 2026 | 0.00% |
| Q2 2026 | 0.00% |
Show as table
| Quarter | Return on assets |
|---|---|
| Q2 2024 | 1.15% |
| Q3 2024 | 1.17% |
| Q4 2024 | 1.19% |
| Q1 2025 | 1.21% |
| Q2 2025 | 1.24% |
| Q3 2025 | 1.30% |
| Q4 2025 | 1.24% |
| Q1 2026 | 1.12% |
| Q2 2026 | 1.20% |
| Quarter | Score | Assets | Capital | Problem loans | ROA | Loans/deposits |
|---|---|---|---|---|---|---|
| Q2 2026 | 78 | $271.7M | 10.68% | 0.00% | 1.20% | 68.2% |
| Q1 2026 | 77 | $265.5M | 10.43% | 0.00% | 1.12% | 68.3% |
| Q4 2025 | 77 | $267.6M | 10.33% | 0.00% | 1.24% | 68.6% |
| Q3 2025 | 77 | $257.2M | 10.42% | 0.00% | 1.30% | 71.5% |
| Q2 2025 | 76 | $258.7M | 10.09% | 0.00% | 1.24% | 68.4% |
| Q1 2025 | 76 | $259.1M | 9.93% | 0.00% | 1.21% | 65.9% |
| Q4 2024 | 76 | $259.7M | 10.01% | 0.00% | 1.19% | 64.0% |
| Q3 2024 | 77 | $239.8M | 10.41% | 0.00% | 1.17% | 70.2% |
| Q2 2024 | 77 | $235.6M | 10.49% | 0.00% | 1.15% | 70.1% |
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).
Similar-size banks in Iowa
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| Cherokee State BankBank Cherokee, IA | 83 out of 100, Strong | $271.1M | 13.0% | 0.00% | vs |
| Mediapolis Savings BankBank Mediapolis, IA | 71 out of 100, Strong | $269.9M | 10.2% | 0.39% | vs |
| Freedom Financial BankBank West Des Moines, IA | 68 out of 100, Moderate | $269.3M | 9.3% | 0.00% | vs |
| FNB BankBank Fontanelle, IA | 91 out of 100, Very strong | $274.6M | 14.5% | 0.02% | vs |
| Westside State BankBank Westside, IA | 51 out of 100, Below average | $268.7M | 8.8% | 1.57% | vs |
| Iowa State Savings BankBank Creston, IA | 74 out of 100, Strong | $276.5M | 9.4% | 0.20% | vs |
Deposit insurance
Is my money safe at Farmers and Merchants State Bank?
Yes. Farmers and Merchants State Bank is an FDIC-insured institution (FDIC certificate #15610). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
An estimated 26.3% of deposits ($63.4M) are above the $250,000 FDIC insurance limit, above the peer median of 24%. Insured balances are protected regardless of the score.
The tier 1 leverage ratio is 10.68%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 17.04% (benchmark: 10%).
5 locations
Branches
Farmers and Merchants State Bank lists 4 offices in 4 cities. Most locations:
- Greenfield, IA (1)
- Orient, IA (1)
- Saint Charles, IA (1)
- Winterset, IA (1)
HMDA 2025
Mortgage lending
In 2025, Farmers and Merchants State Bank reported 68 home-loan applications under HMDA (LEI 549300DUVDQ4UATCVD64): 63 originated ($11,585,000 total), 1 denied, and 0 withdrawn or closed by the applicant. Its denial rate on decided applications was 1.5%, 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 and Merchants State Bank
- Type
- State-chartered bank
- FDIC certificate #
- 15610
- RSSD ID
- 145741
- Primary regulator
- FDIC
- Holding company
- Farmers&merchants Bcorp
- Established
- August 11, 1938
- Headquarters
- 101 W Jefferson St, Winterset, IA 50273
- Website
- www.fmstate.bank
- Employees
- 32
Quick answers
Farmers and Merchants State Bank: common questions
Is Farmers and Merchants State Bank FDIC insured?
Yes. Farmers and Merchants State Bank is an FDIC-insured institution (FDIC certificate #15610). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
What is Farmers and Merchants State Bank's TellerScore?
78 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 and Merchants State Bank ever failed?
There is no failure record for FDIC certificate #15610 in the FDIC failed bank list.
How many branches does Farmers and Merchants State Bank have?
5 offices as of the latest FDIC data.
Nearby
Highest-scoring banks and credit unions with branches near Winterset
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| Lamoure Credit UnionCredit union Lamoure, ND | 98 out of 100, Very strong | $38.8M | 18.9% | 0.00% | vs |
| Iowa State BankBank Des Moines, IA | 95 out of 100, Very strong | $480.5M | 15.9% | 0.00% | vs |
| Journey Credit UnionCredit union Des Moines, IA | 85 out of 100, Very strong | $97.6M | 16.9% | 1.11% | vs |
| Serve Credit UnionCredit union Des Moines, IA | 84 out of 100, Strong | $101.3M | 18.1% | 0.81% | vs |
| American State BankBank Osceola, IA | 83 out of 100, Strong | $360.8M | 11.1% | 0.04% | vs |
| Charter BankBank Johnston, IA | 83 out of 100, Strong | $227.5M | 11.0% | 0.00% | vs |