FM Bank is a state-chartered bank headquartered in Waseca, Minnesota, in business for about 148 years. At the end of Q2 2026 it reported $738.4M in total assets and $636.1M in deposits, with 6 offices.
FM Bank has a TellerScore of 66 out of 100 (moderate) based on Q2 2026 data — higher than only 31% of its 2,650 banks with $100 million – $1 billion. Among 223 banks headquartered in Minnesota, it ranks 141st. Loan quality contributes the most (100/100, 0.00%); capital cushion contributes the least (27/100, 7.66%).
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
The score has been essentially flat from Q2 2025 to Q2 2026 (65 → 66).
Show as table
| Quarter | TellerScore |
|---|---|
| Q2 2024 | 62 |
| Q3 2024 | 63 |
| Q4 2024 | 63 |
| Q1 2025 | 65 |
| Q2 2025 | 65 |
| Q3 2025 | 65 |
| Q4 2025 | 64 |
| Q1 2026 | 68 |
| Q2 2026 | 66 |
Show as table
| Quarter | Tier 1 leverage ratio |
|---|---|
| Q2 2024 | 7.14% |
| Q3 2024 | 7.43% |
| Q4 2024 | 7.45% |
| Q1 2025 | 7.65% |
| Q2 2025 | 7.64% |
| Q3 2025 | 7.88% |
| Q4 2025 | 7.87% |
| Q1 2026 | 8.27% |
| Q2 2026 | 7.66% |
Show as table
| Quarter | Noncurrent loans |
|---|---|
| Q2 2024 | 0.04% |
| Q3 2024 | 0.04% |
| Q4 2024 | 0.03% |
| Q1 2025 | 0.00% |
| Q2 2025 | 0.00% |
| Q3 2025 | 0.01% |
| Q4 2025 | 0.02% |
| Q1 2026 | 0.02% |
| Q2 2026 | 0.00% |
Show as table
| Quarter | Return on assets |
|---|---|
| Q2 2024 | 0.85% |
| Q3 2024 | 0.86% |
| Q4 2024 | 0.93% |
| Q1 2025 | 1.12% |
| Q2 2025 | 1.15% |
| Q3 2025 | 1.19% |
| Q4 2025 | 1.12% |
| Q1 2026 | 1.43% |
| Q2 2026 | 1.42% |
| Quarter | Score | Assets | Capital | Problem loans | ROA | Loans/deposits |
|---|---|---|---|---|---|---|
| Q2 2026 | 66 | $738.4M | 7.66% | 0.00% | 1.42% | 77.3% |
| Q1 2026 | 68 | $702.6M | 8.27% | 0.02% | 1.43% | 76.8% |
| Q4 2025 | 64 | $705.2M | 7.87% | 0.02% | 1.12% | 75.0% |
| Q3 2025 | 65 | $699.3M | 7.88% | 0.01% | 1.19% | 76.7% |
| Q2 2025 | 65 | $673.1M | 7.64% | 0.00% | 1.15% | 70.2% |
| Q1 2025 | 65 | $655.1M | 7.65% | 0.00% | 1.12% | 69.3% |
| Q4 2024 | 63 | $659.9M | 7.45% | 0.03% | 0.93% | 66.9% |
| Q3 2024 | 63 | $622.0M | 7.43% | 0.04% | 0.86% | 64.5% |
| Q2 2024 | 62 | $625.7M | 7.14% | 0.04% | 0.85% | 63.0% |
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 Minnesota
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| Platinum BankBank Oakdale, MN | 55 out of 100, Moderate | $739.1M | 8.5% | 0.81% | vs |
| Alliance BankBank Lake City, MN | 70 out of 100, Strong | $755.9M | 10.1% | 0.01% | vs |
| The Bank of Elk RiverBank Elk River, MN | 59 out of 100, Moderate | $719.1M | 9.1% | 1.20% | vs |
| Highland BankBank Saint Paul, MN | 34 out of 100, Low | $775.9M | 8.6% | 2.51% | vs |
| HomeTown BankBank Carver, MN | 64 out of 100, Moderate | $691.9M | 8.3% | 0.37% | vs |
| Premier Bank MinnesotaBank Hastings, MN | 77 out of 100, Strong | $691.5M | 10.0% | 0.04% | vs |
Deposit insurance
Is my money safe at FM Bank?
Yes. FM Bank is an FDIC-insured institution (FDIC certificate #10998). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
An estimated 45.4% of deposits ($289.0M) 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 7.66%, above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 11.75% (benchmark: 10%).
6 locations
Branches
FM Bank lists 6 offices in 6 cities. Most locations:
- Clarkfield, MN (1)
- Fergus Falls, MN (1)
- Granite Falls, MN (1)
- Olivia, MN (1)
- Waseca, MN (1)
- Wheaton, MN (1)
Identity & history
Profile
- Legal name
- FM Bank
- Former names
- Granite Falls Bank
- Type
- State-chartered bank
- FDIC certificate #
- 10998
- RSSD ID
- 20857
- Primary regulator
- FDIC
- Holding company
- Independent Bancshares Inc
- Established
- January 1, 1878
- Headquarters
- 220 Elm Ave E, Waseca, MN 56093
- Website
- mybankfm.com
- Employees
- 68
Quick answers
FM Bank: common questions
Is FM Bank FDIC insured?
Yes. FM Bank is an FDIC-insured institution (FDIC certificate #10998). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
What is FM Bank's TellerScore?
66 out of 100 (Moderate), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.
Has FM Bank ever failed?
There is no failure record for FDIC certificate #10998 in the FDIC failed bank list.
How many branches does FM Bank have?
6 offices as of the latest FDIC data.
Nearby
Highest-scoring banks and credit unions with branches near Waseca
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| St. Clair State Bank (Incorporated)Bank Saint Clair, MN | 85 out of 100, Very strong | $134.4M | 11.1% | 0.03% | vs |
| Arcadian BankBank Hartland, MN | 85 out of 100, Very strong | $242.1M | 12.0% | 0.10% | vs |
| Federated Employees Credit UnionCredit union Owatonna, MN | 82 out of 100, Strong | $66.7M | 13.2% | 0.19% | vs |
| Janesville State BankBank Janesville, MN | 81 out of 100, Strong | $98.8M | 11.4% | 0.00% | vs |
| Elysian BankBank Elysian, MN | 79 out of 100, Strong | $76.0M | 12.2% | 0.74% | vs |
| Commerce BankBank Geneva, MN | 78 out of 100, Strong | $220.0M | 13.9% | 0.60% | vs |