Farmers & Merchants Bancorp In Stock Price, News & Analysis

Farmers & Merchants Bancorp (FMAO) reported Q1 2023 results, revealing a net income of $6.5 million, down from $8.1 million in Q1 2022. Earnings per share fell to $0.47 from $0.62. Key highlights include a 9.6% increase in net interest income to $21.7 million and a record $2.447 billion in total loans, up 24.7%. Total assets grew 14.3% year-over-year to $3.07 billion, and deposits rose 11.5% to $2.51 billion. The company adopted CECL accounting standards, impacting equity by $3.4 million net of tax. Nonperforming loans declined 10.1% to 0.32% of total loans. The company declared a cash dividend of $0.21 per share, up 10.5% year-over-year.

F&M Bank announces significant growth in the Fort Wayne, Indiana market with the construction of a new regional headquarters at 128 Wayne Street. This facility will feature a full-service bank office, a drive-up ATM, and 3,000 square feet dedicated to office space, marking F&M's third location in Fort Wayne. The bank has also expanded its team, hiring industry veterans Rob Slusser, Dana Snyder, and Brian Ternet, who will lead its commercial banking efforts. Their combined experience aims to enhance F&M's brand and service in the community. F&M Bank, founded in 1897, serves customers across Northwest Ohio and Northeast Indiana, emphasizing a community-first approach to banking.

Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) announced a quarterly cash dividend of $0.21 per share, reflecting a 10.5% increase compared to the previous year. This dividend will be paid on April 20, 2023, to shareholders of record by April 1, 2023. As of December 31, 2022, the company reported assets totaling $3.02 billion.

Farmers & Merchants Bancorp (FMAO) reported its 2022 financial results, highlighting a net income increase of 38.4% to a record $32.5 million and earnings per share of $2.46, up from $2.01. The fourth quarter net income was $7.2 million, slightly down from $7.7 million YoY, while adjusted earnings were $0.65 per share. Total loans rose 26.9% to $2.36 billion, with organic growth at 21.4%. The efficiency ratio improved to 50.46%. Deposits increased by 12.6% to $2.47 billion, and a dividend increase of 14.4% was declared. The company aims for strategic investments of $7 million in 2023 amid maintaining strong asset quality with nonperforming loans at just 0.20%.

Farmers & Merchants Bancorp, Inc. (FMAO) has announced a quarterly cash dividend of $0.21 per share, marking a 10.5% increase from last year's fourth quarter. The dividend will be payable on January 20, 2023, to shareholders recorded by December 30, 2022. The company’s total assets are reported at $2.784 billion as of September 30, 2022. Farmers & Merchants State Bank, established in 1897, serves communities in Northwest Ohio and Northeast Indiana, offering a range of commercial and retail banking services.

Farmers & Merchants Bancorp (FMAO) reported strong third-quarter 2022 results, with net income soaring 51.3% to a record $9.0 million and earnings per share increasing 28.3% to $0.68. Total loans reached $2.143 billion, up 15.4%, while deposits grew 22.3% to $2.283 billion. The efficiency ratio improved to 51.19%, supporting robust profitability. The company also declared a 16.7% increase in its quarterly cash dividend. Economically, they remain cautious due to rising inflation and competition but expect ongoing growth and strong asset quality.

Farmers & Merchants Bancorp, Inc. (FMAO) announced the completion of its acquisition of Peoples-Sidney Financial Corporation (PPSF) on October 3, 2022. This marks F&M's fifth acquisition since 2019, enhancing its presence in Sidney and Shelby County. Following this acquisition, F&M operates 33 full-service branches with total deposits of $2.3 billion and loans of $2.1 billion as of June 30, 2022. The transition of Peoples branch signage to F&M occurred on October 1, 2022, with a system conversion planned for December 5, 2022.

Farmers & Merchants State Bank has recently announced the promotion of Benét Rupp to Executive Vice President. Rupp has been a key member of the executive team since 2019, previously serving as Chief Administrative Officer. Additionally, Eric Faust has been appointed as Senior Vice President and Chief Risk Officer, bringing extensive experience from his previous roles in the banking industry. The company continues to focus on building a talented executive team to enhance its operations and risk management strategies.

Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) announced a 16.7% increase in its quarterly cash dividend, raising it to $0.21 per share from $0.19 previously. This adjustment marks the 28th consecutive year of dividend increases since 1994. The new dividend will be payable on October 20, 2022, to shareholders on record as of September 26, 2022. The company’s annualized cash dividend has seen a 10.2% compound annual growth rate since 2017, indicating solid financial results and commitment to shareholder value.