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Q2 2026 · read from the 30 June 2026 Call Report · United States · Mid-Atlantic · Maryland, the state note

Farmers & Merchants Bank

Upperco, Maryland · $874M in assets · beside the 11 other Maryland banks between $300M and $1B

The filing

0.00%
NPA / loans
1st of 12
53.2%
CRE / loans
12th of 12
1129.5x
Coverage of noncurrent
1st of 12

Farmers & Merchants Bank is the largest of the 12 Maryland banks nearest its size between $300M and $1B, with $874M in assets at 30 June 2026. Loans are 88.4% of deposits, 9th of 12 against a median of 84.6%, and equity is 9.1% of assets, 10th of 12. Loans grew +3.5% in the year, 8th of 12, and deposits fell 3.3%; the cohort's median loan growth is +4.7%.

Noncurrent loans are 0.00% of the book, the lowest in the cohort against a median of 0.46%; 0.08% is 30 to 89 days past due, and the allowance covers them 1129.5 times. Commercial real estate is 53.2% of loans, the highest in the cohort against a median of 32.4%, and 379% of capital, above the 300% screen, with construction at 30% against the 100% screen.

Return on assets is 0.97%, 7th of 12 against a median of 0.99%, on an efficiency ratio of 63.0%, 6th of 12. Five years ago it was 1.04%. The question is what the concentration does under a commercial real estate stress, and how much of it is owner-occupied (owner-occupied nonresidential is 24.9% of loans).

Commercial real estate, share of loansMD banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 32.4% Bo Bank of Glen Burnie 11.3% FS First Shore Federal Savings & Loan Association 13.4% FB Farmers Bank of Willards 19.4% QB Queenstown Bank of Maryland 24.4% AB Arundel Bank 25.9% WB Woodsboro Bank 31.8% HB Harford Bank 33.0% HS Hebron Savings Bank 40.9% Bo Bank of Ocean City 43.1% HB Harbor Bank of Maryland 47.1% BB Bayvanguard Bank 47.4% FM Farmers & Merchants Bank 53.2%
Loans, year over yearMD banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +4.7% Bo Bank of Glen Burnie +25.4% HB Harford Bank +17.7% HS Hebron Savings Bank +13.6% WB Woodsboro Bank +6.8% Bo Bank of Ocean City +6.3% FB Farmers Bank of Willards +5.2% QB Queenstown Bank of Maryland +4.1% FM Farmers & Merchants Bank +3.5% HB Harbor Bank of Maryland +1.8% FS First Shore Federal Savings & Loan Association +0.2% AB Arundel Bank +0.1% BB Bayvanguard Bank -5.5%

SBA 7(a), FY2008 to FY2026

Farmers & Merchants Bank is the 67th largest 7(a) lender into Maryland of 268, with $13M across 19 loans, 0.2% of everything approved in the state (Manufacturers and Traders Trust Company leads with $813M). 5 of its 8 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Maryland, 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
Baltimore, MD$5M38th of 1300.6%-0.5 pts
Carroll, MD$4M8th of 543.0%+1.4 pts
Queen Annes, MD$3M4th of 416.2%quiet FY2017
Adams, PA$3M7th of 353.8%quiet FY2019
Howard, MD$585K75th of 1140.1%quiet FY2021
Alexandria City, VA$405K63rd of 830.2%thin
Montgomery, MD$185K132nd of 1440.0%quiet FY2019
Baltimore City, MD$135K113th of 1190.0%quiet FY2014
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
Accommodation & food services8$8M49.3%0.01%646th of 2,596
Professional & technical services4$3M21.2%0.01%558th of 1,955
Construction2$2M12.8%0.01%909th of 2,063
Other services2$1M7.3%0.00%1094th of 2,248
Retail trade2$592K3.6%0.00%1796th of 2,589
7(a) lenders into Maryland, share of approvals since FY2008268 lenders on record; the ten largest and Farmers & Merchants Bank
Ma Manufacturers and Traders Trust C… 14.7% $813M · 6,207 loans TB Truist Bank 7.1% $393M · 890 loans LO Live Oak Banking Company 6.8% $373M · 273 loans FB Fulton Bank, National Association 3.9% $215M · 266 loans WF Wells Fargo Bank National Associa… 3.5% $193M · 719 loans AU Atlantic Union Bank 3.2% $177M · 415 loans HB Hanmi Bank 2.7% $148M · 166 loans FN First National Bank of Pennsylvan… 2.6% $141M · 301 loans RL Readycap Lending, LLC 2.1% $117M · 267 loans BB Beacon Bank and Trust 1.9% $106M · 96 loans FM Farmers & Merchants Bank 0.2% $13M · 19 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 2 CBLR filers; owner-occupied excluded; bold marks a screen met
Farmers & Merchants BankRankCohort median
Total CRE against capital, the 300% screen379%12th of 12215%
Construction against capital, the 100% screen30%6th of 1230%
Construction and land development, share of loans4.2%6th of 124.3%
Non-owner-occupied nonfarm nonresidential, share of loans43.8%12th of 1223.4%
Total CRE, the guidance definition, share of loans53.2%12th of 1232.4%
CRE growth over 36 months, the third prong+13.3%5th of 12+21.0%

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
Farmers & Merchants Bank$874M1.0%63.0%0.00%-0.02%0.7%88.4%9.1%
Bayvanguard Bank$869M1.0%66.5%0.48%-0.01%0.9%103.1%18.7%
Hebron Savings Bank$839M1.6%53.6%0.08%-0.07%1.3%88.3%12.8%
Harford Bank$777M1.1%59.5%0.91%0.01%1.2%84.3%9.6%
Queenstown Bank of Maryland$730M0.8%64.9%0.12%0.01%1.4%73.4%10.4%
Bank of Ocean City$695M1.4%46.2%0.59%0.00%0.7%84.9%11.0%
Farmers Bank of Willards$548M1.4%59.1%0.70%0.11%1.1%84.0%11.7%
Arundel Bank$492M0.2%92.7%0.44%0.00%0.6%99.7%13.5%
Woodsboro Bank$483M1.1%62.6%0.09%-0.02%1.2%77.1%7.1%
Bank of Glen Burnie$395M-0.1%95.4%0.25%0.12%1.2%75.0%5.4%
Harbor Bank of Maryland$383M0.4%90.0%1.89%-0.01%1.1%70.7%12.2%
First Shore Federal Savings & Loan Association$367M0.8%69.1%0.82%0.00%1.3%94.6%17.0%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Farmers & Merchants BankCohort median
20212026Change20212026Change
Loans$522M$642M+23%$316M$437M+38%
Deposits$614M$726M+18%$440M$545M+24%
NPA / loans0.85%0.00%-0.85 pts1.03%0.46%-0.56 pts
Efficiency60.4%63.0%+2.6 pts68.4%63.9%-4.5 pts
ROA1.04%0.97%-0.06 pts0.76%0.99%+0.24 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 MD banks $300M to $1B
Institution www.fmb1919.bank

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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