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F&M Bank, owned by Farmers & Merchants Bancorp, Inc., appointed Andrew Briggs as Chairman of the Board, succeeding Jack Johnson. Briggs brings 40+ years of banking experience and leadership to the role. The appointment reflects F&M's succession plan and commitment to adding new members to the Board.
Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) reported $5.4 million in net income for the 2024 first quarter, with a $0.39 per share. Key highlights include 84 consecutive quarters of profitability, 6.2% increase in net interest income, total loans up by 3.9%, total assets reaching $3.29 billion, and total deposits at $2.62 billion. The company's stockholders' equity increased to $317.7 million, with a Tier 1 leverage ratio of 8.40%. F&M declared cash dividends of $0.22 per share, marking a 4.8% increase over the previous year.
