# FARMERS&MERCHANTS STATE BANK
SCOTLAND, SD · FDIC certificate 13999 · asset band <$300M · latest filing 2026-06 · live

**Verdict on the desk:** this could be *liquidity-rich*. 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 | $36.0M | |
| Deposits | $32.4M | |
| Loans and leases | $13.5M | |
| Total equity | $3.6M | |
| Loans / deposits | 40.98% (p12 of band) | 73.59% |
| Liquid assets / assets | 60.38% (p88 of band) | |
| Uninsured deposits / deposits | 22.84% (p61 of band) | 19.81% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p23 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 11.89% (p51 of band) | 11.76% |
| Unrealized securities loss / equity | -28.04% (p15 of band) | -6.57% |
| AOCI / equity | -1.87% (p13 of band) | |
| ROA (annualized) | 1.25% (p55 of band) | 1.17% |
| Net interest margin | 4.40% (p72 of band) | 3.93% |
| Efficiency ratio | 65.62% (p50 of band) | |
| Noncurrent loans | 0.08% (p33 of band) | 0.36% |
| Net charge-offs (annualized) | -0.01% (p13 of band) | |
| Reserve coverage of noncurrent | 1972.73% | |
| Real estate % of loans | 16% | |
| Construction % of loans | 0.00% (p9 of band) | |
| Auto loans | $1.3M (9.78% of loans; DQ 2.58%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | 3.4% | |
| Employees | 6 | |

## 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 | 1 | reserve under noncurrent |  |
| 2012-03 | 1 | capital falling | reserve under noncurrent |
| 2012-06 | 0 |  | capital falling |
| 2012-09 | 0 |  |  |
| 2012-12 | 0 |  |  |
| 2013-03 | 2 | losing money, expense ratio p90 |  |
| 2013-06 | 0 |  | losing money, expense ratio p90 |
| 2013-09 | 1 | reserve under noncurrent |  |
| 2013-12 | 0 |  | reserve under noncurrent |
| 2014-03 | 2 | capital falling, reserve under noncurrent |  |
| 2014-06 | 0 |  | capital falling, reserve under noncurrent |
| 2014-09 | 0 |  |  |
| 2014-12 | 2 | deposits shrinking, uninsured deposits leaving |  |
| 2015-03 | 2 | capital falling, reserve under noncurrent | deposits shrinking, uninsured deposits leaving |
| 2015-06 | 1 | uninsured deposits leaving | capital falling, reserve under noncurrent |
| 2015-09 | 0 |  | uninsured deposits leaving |
| 2015-12 | 1 | uninsured deposits leaving |  |
| 2016-03 | 0 |  | uninsured deposits leaving |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 1 | reserve under noncurrent |  |
| 2017-03 | 0 |  | reserve under noncurrent |
| 2017-06 | 0 |  |  |
| 2017-09 | 1 | uninsured deposits leaving |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 0 |  | uninsured deposits leaving |
| 2018-06 | 1 | uninsured deposits leaving |  |
| 2018-09 | 1 | reserve under noncurrent | uninsured deposits leaving |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 | capital falling | reserve under noncurrent |
| 2019-06 | 0 |  | capital falling |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 1 | capital falling |  |
| 2020-06 | 3 | noncurrent p90, reserve under noncurrent |  |
| 2020-09 | 3 |  |  |
| 2020-12 | 1 |  | noncurrent p90, reserve under noncurrent |
| 2021-03 | 2 | NIM <2.5% |  |
| 2021-06 | 3 | noncurrent p90, reserve under noncurrent | NIM <2.5% |
| 2021-09 | 2 | charge-offs p90 | capital falling, noncurrent p90 |
| 2021-12 | 3 | noncurrent p90 |  |
| 2022-03 | 4 | AOCI drag >20% of equity, expense ratio p90 | charge-offs p90 |
| 2022-06 | 3 | securities losses >30% of equity | noncurrent p90, expense ratio p90 |
| 2022-09 | 2 |  | reserve under noncurrent |
| 2022-12 | 2 |  |  |
| 2023-03 | 1 |  | AOCI drag >20% of equity |
| 2023-06 | 4 | deposits shrinking, assets shrinking, uninsured deposits leaving |  |
| 2023-09 | 4 | noncurrent p90, reserve under noncurrent | assets shrinking, uninsured deposits leaving |
| 2023-12 | 2 |  | noncurrent p90, reserve under noncurrent |
| 2024-03 | 2 | capital falling | deposits shrinking |
| 2024-06 | 1 |  | capital falling |
| 2024-09 | 1 |  |  |
| 2024-12 | 1 |  |  |
| 2025-03 | 1 |  |  |
| 2025-06 | 1 |  |  |
| 2025-09 | 1 |  |  |
| 2025-12 | 0 |  | securities losses >30% of equity |
| 2026-03 | 1 | securities losses >30% of equity |  |
| 2026-06 | 0 |  | securities losses >30% of equity |

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

- nothing found for that search

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=13999 (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/47.json (key "13999", 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