Farmers & Merchants Bancorp In Stock Price, News & Analysis

Farmers & Merchants Bancorp (Nasdaq: FMAO) reported a strong third quarter for 2021, with net income up 34.2% to $5.9 million and earnings per share increasing to $0.53. Adjusted net income, excluding one-time expenses, rose 60.8% to $7.1 million. The company achieved record quarterly net interest income of $17.8 million, a 36.5% increase, and net loans grew significantly by 48.2% year-over-year. Total deposits surged 22.9% to $1.87 billion. The regular quarterly dividend increased by 5.9%, marking the 27th consecutive annual rise.

Farmers & Merchants Bancorp, Inc. (FMAO) has successfully completed its acquisition of Perpetual Federal Savings Bank (PFSB). This strategic move is aimed at expanding F&M's presence in key Ohio markets such as Urbana, Dayton, and Sidney, and is expected to enhance customer growth opportunities.

Following this acquisition, F&M's total assets rise to approximately $2.64 billion, with total deposits of $2.23 billion and loans of $1.81 billion. The PFSB branches will rebrand to Farmers & Merchants State Bank by October 4, 2021, and a system conversion is scheduled for October 18, 2021.

Farmers & Merchants Bancorp, Inc. (FMAO) has announced the acquisition of Perpetual Federal Savings Bank (PFSB) following regulatory approvals. The transaction, which garnered 98% approval from PFSB shareholders, is set to close on October 1, 2021. David Vernon, a PFSB director, will join FMAO's Board. FMAO's CEO, Lars Eller, expressed confidence in the acquisition's integration and potential to expand services for PFSB's customers, enhancing community-focused banking.

The Board of Directors of Farmers & Merchants Bancorp, Inc. (FMAO) announced a 5.9% increase in its quarterly cash dividend, raising it from $0.17 to $0.18 per share. This marks the 27th consecutive annual increase since 1994. The third quarter dividend is scheduled for payment on October 20, 2021, to shareholders of record as of September 28, 2021. CEO Lars B. Eller emphasized the company's strong capital position and profitable model, highlighting F&M's 11th longest track record of consecutive dividend increases among 800 publicly traded banks.

Farmers & Merchants Bancorp (FMAO) announced the successful completion of a private placement of $35 million in subordinated notes, with a fixed interest rate of 3.25% for the first five years. This capital aims to enhance regulatory Tier 2 capital and support the company’s growth strategies, including acquisitions and organic expansion. The notes are redeemable after five years and will accrue a floating interest rate thereafter. CEO Lars B. Eller expressed optimism regarding the strengthened capital position.

Farmers & Merchants Bancorp (FMAO) reported a net income of $5.0 million for Q2 2021, a 3.7% increase year-over-year, equating to $0.44 per share. Net interest income rose 17.9% to $15.3 million, while noninterest income climbed 21.1% to $4.0 million. The bank's total deposits grew 25.5% to $1.854 billion. FMAO completed the acquisition of Ossian Financial Services and announced another acquisition of Perpetual Federal Savings Bank, projected to close in October 2021, adding $513 million in assets and $413 million in deposits.

The Board of Directors of Farmers & Merchants Bancorp has announced a quarterly cash dividend of $0.17 per share, payable on July 20, 2021, to shareholders of record as of June 28, 2021. This decision reflects the company's commitment to returning value to its shareholders. As of March 31, 2021, the company reported assets totaling $2.0 billion.

Farmers & Merchants State Bank has been operational since 1897, serving Northwest Ohio and Northeast Indiana with a range of financial services.

Farmers & Merchants Bancorp, Inc. (NASDAQ: FMAO) announced the appointment of Frank R. Simon to its Board of Directors following the retirements of Paul S. Siebenmorgen and Anthony J. Rupp. The Board will now consist of 12 members. Mr. Simon brings extensive experience representing financial institutions, as he is the founding and Managing Member of Simon PLC Attorneys & Counselors. Lars Eller, CEO, expressed optimism about Simon's expertise enhancing the company's strategic goals.

Farmers & Merchants Bancorp (FMAO) has signed an agreement to acquire Perpetual Federal Savings Bank (PFSB) in a stock and cash deal valued at approximately $103.7 million. PFSB, with $391 million in total assets as of March 31, 2021, will enhance FMAO's community banking presence in several key Ohio markets. Shareholders can choose between stock or cash for their PFSB shares. The merger is expected to be accretive to FMAO's earnings per share by approximately 10% and 14.5% in the first and second years, respectively, despite a 6.6% initial dilution in tangible book value.