# FM BANK
WASECA, MN · FDIC certificate 10998 · asset band $300M-1B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *ordinary*. Composite score 0 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $738.4M | |
| Deposits | $636.1M | |
| Loans and leases | $494.6M | |
| Total equity | $58.5M | |
| Loans / deposits | 77.29% (p39 of band) | 82.04% |
| Liquid assets / assets | 28.88% (p61 of band) | |
| Uninsured deposits / deposits | 45.43% (p92 of band) | 25.97% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 5.47% (p60 of band) | |
| FHLB advances / assets | 5.07% | |
| Tier 1 leverage | 7.66% (p1 of band) | 10.81% |
| Unrealized securities loss / equity | -7.09% (p53 of band) | -8.10% |
| AOCI / equity | 0.44% (p91 of band) | |
| ROA (annualized) | 1.42% (p60 of band) | 1.28% |
| Net interest margin | 3.39% (p23 of band) | 3.91% |
| Efficiency ratio | 52.39% (p23 of band) | |
| Noncurrent loans | 0.00% (p4 of band) | 0.43% |
| Net charge-offs (annualized) | 0.00% (p24 of band) | |
| Reserve coverage of noncurrent | – | |
| Real estate % of loans | 58% | |
| Construction % of loans | 48.38% (p55 of band) | |
| Auto loans | $1.4M (0.29% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p45 of band) | |
| Deposits YoY | 5.6% | |
| Employees | 68 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 0 |  |  |
| 2011-06 | 0 |  |  |
| 2011-09 | 0 |  |  |
| 2011-12 | 0 |  |  |
| 2012-03 | 0 |  |  |
| 2012-06 | 2 | deposits shrinking, assets shrinking |  |
| 2012-09 | 4 | wholesale funding >15%, capital falling |  |
| 2012-12 | 3 |  | capital falling |
| 2013-03 | 3 | uninsured deposits >50% | wholesale funding >15% |
| 2013-06 | 3 | wholesale funding >15% | uninsured deposits >50% |
| 2013-09 | 2 | uninsured deposits >50%, capital falling | deposits shrinking, assets shrinking, wholesale funding >15% |
| 2013-12 | 2 |  |  |
| 2014-03 | 3 | NIM <2.5% |  |
| 2014-06 | 2 |  | capital falling |
| 2014-09 | 2 |  |  |
| 2014-12 | 3 | leverage <7%, capital falling | NIM <2.5% |
| 2015-03 | 3 | NIM <2.5% | capital falling |
| 2015-06 | 4 | reserve under noncurrent |  |
| 2015-09 | 3 |  | reserve under noncurrent |
| 2015-12 | 3 | reserve under noncurrent | leverage <7% |
| 2016-03 | 5 | wholesale funding >15%, deposits shrinking, assets shrinking, uninsured deposits leaving | NIM <2.5%, reserve under noncurrent |
| 2016-06 | 5 |  |  |
| 2016-09 | 4 |  | uninsured deposits >50% |
| 2016-12 | 5 | uninsured deposits >50% |  |
| 2017-03 | 4 |  | uninsured deposits >50% |
| 2017-06 | 4 | uninsured deposits >50% | wholesale funding >15% |
| 2017-09 | 2 |  | deposits shrinking, uninsured deposits leaving |
| 2017-12 | 4 | wholesale funding >15%, deposits shrinking, uninsured deposits leaving | uninsured deposits >50% |
| 2018-03 | 1 |  | wholesale funding >15%, deposits shrinking, uninsured deposits leaving |
| 2018-06 | 1 |  |  |
| 2018-09 | 2 | uninsured deposits >50%, wholesale funding >15% | assets shrinking |
| 2018-12 | 3 | capital falling, assets shrinking | wholesale funding >15% |
| 2019-03 | 0 |  | uninsured deposits >50%, capital falling, assets shrinking |
| 2019-06 | 2 | wholesale funding >15%, deposits shrinking |  |
| 2019-09 | 0 |  | wholesale funding >15%, deposits shrinking |
| 2019-12 | 0 |  |  |
| 2020-03 | 1 | uninsured deposits >50% |  |
| 2020-06 | 3 | capital falling, charge-offs p90 |  |
| 2020-09 | 2 |  | charge-offs p90 |
| 2020-12 | 1 |  | capital falling |
| 2021-03 | 1 |  |  |
| 2021-06 | 1 | capital falling | uninsured deposits >50% |
| 2021-09 | 1 |  |  |
| 2021-12 | 1 |  |  |
| 2022-03 | 2 | AOCI drag >20% of equity |  |
| 2022-06 | 3 | securities losses >30% of equity |  |
| 2022-09 | 4 | leverage <7% |  |
| 2022-12 | 1 |  | capital falling, securities losses >30% of equity, leverage <7% |
| 2023-03 | 0 |  | AOCI drag >20% of equity |
| 2023-06 | 0 |  |  |
| 2023-09 | 3 | capital falling, AOCI drag >20% of equity, securities losses >30% of equity |  |
| 2023-12 | 1 |  | AOCI drag >20% of equity, securities losses >30% of equity |
| 2024-03 | 0 |  | capital falling |
| 2024-06 | 0 |  |  |
| 2024-09 | 0 |  |  |
| 2024-12 | 0 |  |  |
| 2025-03 | 0 |  |  |
| 2025-06 | 0 |  |  |
| 2025-09 | 0 |  |  |
| 2025-12 | 0 |  |  |
| 2026-03 | 0 |  |  |
| 2026-06 | 0 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2025-12-04 [Fergus Falls FM Bank Opens New Downtown Building - Fergus Now](https://news.google.com/rss/articles/CBMiigFBVV95cUxPYjFFY05KZGF6THhaSlVSSFlPd2tISHFUWC10MWNWdEVGdURYc1h3SzVYWXVTdUZGNEY1RDE3OE5lZnVzdkhiOWZ0RnZmYTVMRHhETmludkVGUGkybVEwSlR2QVNFUnJ5eDh6T0ZUdGFXLU1fSHNuaGJMbWY4XzRQOGNWYkNQUUdJdFE?oc=5) · Fergus Now
- 2023-06-30 [Quoin Financial Bank to be acquired by Minnesota bank - SiouxFalls.Business](https://news.google.com/rss/articles/CBMiigFBVV95cUxQa21Nak1OXzlhVmZac1AxblNETmRxNEpBTEJzWUdIZUQxaGlsQU9zZkV0RkFZSVBfUE4zY0JoUkFDb1BudTEwVVJNTHJOLVNXdzZLN0traXFzUVo5OVhIYjFBS1V6a0VINkhWeFJKT3VzeUpIa2pRZTJ3SUtzaGR0QWhWSFVjMDNaVVE?oc=5) · SiouxFalls.Business
- 2022-12-19 [FM BANK plans charter relocation to Waseca - southernminn.com](https://news.google.com/rss/articles/CBMi3gFBVV95cUxPZmI5Qm5nY0F2Qzd5UHJWVHBHY1RPNy14WmlxNUN4NV8wZl8ydE9WTlBuVEZybkhTLWR3UWVCZDV4Q1NMUGVub1VuLUd2Tzl2MmZFbU1QNUlYRmIzQXRJMzVCVTU1TWU2OW5HVkRFV2duOW1FclcwLU9XclRVSU9Vc3RBYy1MS1BwQmJNeGVld0JVRF9LeW9VWWlfNFlmbkVfUHNteUxMZGVmcndWaDVMZGJjYVVvNEY3M3RNQVVMM3Z0QWxCbzg4R0w1LUFLcXIyUDZfTnJrVmRpR0Q5MHc?oc=5) · southernminn.com
- 2026-09-01 [Gaylon Lawrence Jr. eyes more consolidation of his bank portfolio - The Business Journals](https://news.google.com/rss/articles/CBMirgFBVV95cUxNRm5mVGlVZFVlWmFnMzBuMnEwbWcwYmZCNWphbHJ6ZldsUW5SX3NVdnFRYlM2UGYtQ19Wc3UweS1DVHBxMmF3X1M4SnZEYjNFRmV1MnZPUVp4NnVIT0VkbDJPZmZERmRqQUxDZG5kN1ozUjJKNTRHbU4xZFFOdFI4VmtWT0tLSGxPR0laVmpNTGV0UkdocjhiU2d4ajlMdUxrMnp5THFKNlJKcmpZdEE?oc=5) · The Business Journals
- 2026-03-25 [FM BANK and Quoin Financial Bank Select Jack Henry to Elevate Service - FF News](https://news.google.com/rss/articles/CBMimAFBVV95cUxPS0NzOEFKVFJFU2Q4MFI0MjlLZXphRDJwRGl3MXpQNEhuZGdWMHd6VnM1YjV0SjBkVjZBeU44SUkzUXdXVVBCLTNlY2VVZDY3MklwVk5hdHBzMFVZYTl0WjlRd09vRFVGOUI5WDNKRWtkUUU4Q19uMjZKRnowZnFYRE1OYTRBVWxyZlhrMlM5RlJ1ZDZmTkNnVg?oc=5) · FF News
- 2026-03-30 [Independent Bancshares Inc. taps Jack Henry for core banking upgrade - IBS Intelligence](https://news.google.com/rss/articles/CBMiqgFBVV95cUxOeWtKcGZ2SHBrb3pJTE1sT0FVUmhwbVVFdUhGOTY2bzh1SGIzRlExVG92WDVJUk1nTzVuLWVGSlViY3ZUSXlrVUhrblRNNzJXQXZBaFpHeTBXSUFrc0VzSW05SlBhcER1S09uZDE5M2prOGpiS0RSNDY2cVBCSE5rckU3cTBYeEVDTkVZVU91cGxGUF9CVTcycG1vSjZlS19xVW9WNEFPcWN2dw?oc=5) · IBS Intelligence
- 2024-09-17 [Craig Bakkelund Obituary Nov 18, 2021 - Anderson TeBeest Funeral Home](https://news.google.com/rss/articles/CBMiakFVX3lxTFA0cG9VUmtxSTUxeWxUSzNrbnJnVk5IT2RyVjYybTYzNlg4Ni1HaVdCWXJOY1hLU29TOGtYS3llVnFmUzhOTkJ5ejZXUS10WjYwNTZwWGRlaEt4Y1hFcWc1RVpheWx6MDZLWkE?oc=5) · Anderson TeBeest Funeral Home
- 2023-09-22 [Suspect Arrested After Attempting to Cash Fraudulent Check at FM Bank - Fergus Now](https://news.google.com/rss/articles/CBMipgFBVV95cUxPVkkyQ1pTM016UzhyZ3o1dWc1QlowWlgwZXptdHUtWXdaQ3UzR0JQTVNnNHJfWkRfeXYyUzItek42QU1LcXlEc3lIZ2hJcHRSZk9YMk5tbWJudnZqMjNNWHlvWEJuUkFpUTNOLU1JRGV5YnBjM2Iyd3JNZmtJU3g2eGtBdDRnaXFVb01BYko4YWpXRTNEbGFDNXQ0RzhUOWprVUtiY2ZB?oc=5) · Fergus Now

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=10998 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/54.json (key "10998", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide