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Farmers & Merchants Bancorp Inc (FMAO) delivers community-focused banking services across multiple states, specializing in commercial lending, agricultural finance, and residential mortgages. This page provides investors and stakeholders with direct access to the company's official news updates and financial disclosures.
Discover timely announcements including quarterly earnings reports, strategic leadership changes, and regulatory filings. Our curated collection ensures you stay informed about FMAO's community initiatives, product expansions, and compliance updates without promotional bias.
Key updates cover operational milestones, branch network developments, and innovations in consumer lending practices. Bookmark this page for streamlined access to Farmers & Merchants Bancorp's latest developments, carefully sourced from primary channels to maintain accuracy and relevance.
Farmers & Merchants Bancorp, Inc. (FMAO) reported its 2024 second-quarter and year-to-date financial results, marking its 85th consecutive quarter of profitability. Key highlights include:
- Net income of $5.7 million, or $0.42 per share
- Total loans increased 1.75% to $2.56 billion
- Deposits grew 7.0% to a record $2.64 billion
- Total assets rose 5.6% to a record $3.32 billion
- Stockholders' equity increased 5.9% to $322.7 million
The company benefited from a refinance and paydown on a $16.2 million agricultural-based relationship, improving profitability and asset quality. Nonperforming loans decreased significantly to $2.5 million, down from $19.4 million in the previous quarter.
Farmers & Merchants Bancorp, holding company of F&M Bank, announced a 4.8% increase in its quarterly cash dividend to $0.22 per share. This dividend, reflecting the company's robust financial health, is payable on July 20, 2024, to shareholders recorded by July 5, 2024. As of March 31, 2024, the company's total assets stood at $3.29 billion.
F&M Bank, owned by Farmers & Merchants Bancorp (Nasdaq: FMAO), is collaborating with Habitat for Humanity of Fulton County, Ohio, to build four playhouses for local families. The initiative, part of Habitat's Playhouse Project, will take place on June 14, 2024, with nearly 40 F&M Bank employees volunteering. The event will include free shaved ice, face painting, and music, encouraging public participation. F&M Bank aims to provide children in Fulton, Defiance, and Henry Counties a safe space to play, while supporting Habitat's affordable housing mission.
Farmers & Merchants Bancorp (Nasdaq: FMAO), based in Archbold, Ohio, has announced the retirement of its Board Chairman, Jack Johnson. Johnson joined the board in January 1991 and served as Chairman from July 2013 until April 30, 2024. His retirement was celebrated on May 21, 2024, following the company's maximum age requirement policy. During his tenure, Johnson played a critical role in the bank's growth and numerous milestones. Effective May 3, 2024, Andrew Briggs has been appointed as the new Chairman, with Kevin Sauder continuing as Vice Chairman.
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.
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