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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · Georgia, the state note

Farmers & Merchants Bank

Lakeland, Georgia · $862M in assets · beside the 11 other Georgia banks between $300M and $1B

The filing

48.1%
Efficiency
2nd of 12
8.6%
Equity / assets
10th of 12
1.86%
NPA / loans
10th of 12

Farmers & Merchants Bank is the third largest of the 12 Georgia banks nearest its size between $300M and $1B, with $862M in assets at 30 June 2026. Loans are 79.1% of deposits, 4th of 12 against a median of 82.7%, and equity is 8.6% of assets, 10th of 12. Loans grew +7.5% in the year, 6th of 12, and deposits grew 12.8%; the cohort's median loan growth is +6.9%.

Noncurrent loans are 1.86% of the book, 10th of 12 against a median of 0.48%; 1.76% is 30 to 89 days past due, and the allowance covers them 0.7 times. Net charge-offs are 0.22% of loans, the highest in the cohort. Commercial real estate is 37.8% of loans, 8th of 12 against a median of 34.7%, and 285% of capital, below the 300% screen, with construction at 162% against the 100% screen. CRE has grown +113.7% over 36 months, past the guidance's 50% prong.

Return on assets is 1.56%, 6th of 12 against a median of 1.56%, on an efficiency ratio of 48.1%, 2nd of 12. Five years ago it was 0.69%. The question is which of these lines moves first over the next four quarters, and against which peer.

The efficiency ratioGA banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 54.4% FS FNB South 46.1% FM Farmers & Merchants Bank 48.1% FN First National Community Bank 48.8% FA First American Bank & Trust Co. 49.6% FS First State Bank of Blakely 51.4% CT Citizens Trust Bank 54.1% PS Peach State Bank & Trust 54.8% PB Promiseone Bank 58.1% AB Affinity Bank National Association 61.6% FC First Century Bank N.A. 62.3% BB Barwick Banking Co. 62.8% OS Oconee State Bank 73.3%
Loans, year over yearGA banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +6.9% FC First Century Bank N.A. +49.7% BB Barwick Banking Co. +31.6% OS Oconee State Bank +16.2% FS FNB South +12.1% FA First American Bank & Trust Co. +11.5% FM Farmers & Merchants Bank +7.5% PS Peach State Bank & Trust +6.4% PB Promiseone Bank +2.5% FN First National Community Bank +2.3% AB Affinity Bank National Association +2.3% FS First State Bank of Blakely -1.0% CT Citizens Trust Bank -2.0%

SBA 7(a), FY2008 to FY2026

Farmers & Merchants Bank is the 70th largest 7(a) lender into Georgia of 409, with $51M across 20 loans, 0.3% of everything approved in the state (Metro City Bank leads with $1.91B). 9 of its 16 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Georgia, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Lowndes, GA$12M1st of 618.0%+7.6 pts
Clinch, GA$8M1st of 640.7%quiet FY2022
Berrien, GA$5M1st of 1518.5%quiet FY2016
Madison, FL$5M1st of 1718.5%quiet FY2019
Saint Johns, FL$5M28th of 1131.0%thin
Colquitt, GA$5M2nd of 1624.9%-15.9 pts
Leon, FL$5M15th of 922.1%thin
Paulding, GA$4M14th of 622.5%quiet FY2022
Coffee, GA$4M9th of 273.2%quiet FY2019
Rockdale, GA$4M18th of 801.4%quiet FY2012
Carroll, GA$3M24th of 701.6%quiet FY2017
Bradford, FL$3M2nd of 1318.7%-38.0 pts
Clayton, GA$2M43rd of 930.6%quiet FY2013
3 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Manufacturing4$15M20.8%0.04%358th of 2,246
Other services3$10M14.0%0.03%356th of 2,248
Agriculture, forestry & fishing5$9M13.2%0.12%91st of 1,007
Retail trade4$8M11.5%0.01%544th of 2,589
Administrative & waste services3$5M7.3%0.04%318th of 1,763
7(a) lenders into Georgia, share of approvals since FY2008409 lenders on record; the ten largest and Farmers & Merchants Bank
MC Metro City Bank 9.6% $1.91B · 1,541 loans LO Live Oak Banking Company 4.9% $963M · 746 loans TH The Huntington National Bank 4.2% $835M · 1,424 loans AB Ameris Bank 4.0% $792M · 980 loans SB Southstate Bank, National Associa… 3.3% $661M · 785 loans TB Truist Bank 3.3% $654M · 1,625 loans PB Pinnacle Bank 3.1% $618M · 592 loans RB Renasant Bank 3.0% $597M · 783 loans HB Hometrust Bank 2.6% $515M · 441 loans WF Wells Fargo Bank National Associa… 2.5% $500M · 2,514 loans Fa Farmers and Merchants Bank 0.3% $51M · 20 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 3 CBLR filers, Farmers & Merchants Bank among them; owner-occupied excluded; bold marks a screen met
Farmers & Merchants BankRankCohort median
Total CRE against capital, the 300% screen285%10th of 12237%
Construction against capital, the 100% screen162%12th of 1255%
Construction and land development, share of loans21.4%12th of 1210.6%
Non-owner-occupied nonfarm nonresidential, share of loans14.6%5th of 1217.8%
Total CRE, the guidance definition, share of loans37.8%8th of 1234.7%
CRE growth over 36 months, the third prong+113.7%11th of 12+41.0%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Affinity Bank National Association$915M1.1%61.6%0.47%0.03%1.2%102.1%12.9%
First American Bank & Trust Co.$902M2.0%49.6%0.00%0.00%1.1%94.2%13.0%
Farmers & Merchants Bank$862M1.6%48.1%1.86%0.22%1.2%79.1%8.6%
First Century Bank N.A.$832M1.8%62.3%0.00%0.00%0.4%20.3%16.2%
Barwick Banking Co.$830M0.8%62.8%0.49%0.10%1.0%99.8%8.5%
Promiseone Bank$812M1.5%58.1%0.81%0.10%1.0%84.5%8.6%
Citizens Trust Bank$790M1.6%54.1%1.63%0.04%1.3%57.5%12.5%
Peach State Bank & Trust$786M1.4%54.8%0.00%-0.02%1.1%74.1%9.5%
First National Community Bank$755M1.9%48.8%0.43%-0.01%1.3%82.7%12.9%
Oconee State Bank$744M0.8%73.3%2.83%0.02%1.3%82.7%9.3%
FNB South$735M2.6%46.1%0.00%-1.40%3.2%81.5%15.9%
First State Bank of Blakely$668M1.8%51.4%3.36%0.00%1.5%85.3%19.5%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Farmers & Merchants BankCohort median
20212026Change20212026Change
Loans$410M$621M+51%$320M$542M+69%
Deposits$560M$785M+40%$463M$698M+51%
NPA / loans2.70%1.86%-0.84 pts0.96%0.48%-0.48 pts
Efficiency71.0%48.1%-22.9 pts64.3%54.4%-9.9 pts
ROA0.69%1.56%+0.87 pts1.01%1.56%+0.55 pts

This read was prepared for Farmers & Merchants Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Farmers & Merchants Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort GA banks $300M to $1B
Institution www.fmb.net

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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