Welcome to our dedicated page for Farmers & Merchants Bancorp In news (Ticker: FMAO), a resource for investors and traders seeking the latest updates and insights on Farmers & Merchants Bancorp In stock.
Farmers & Merchants Bancorp, Inc. (NASDAQ: FMAO) is a financial holding company headquartered in Archbold, Ohio, and the parent of The Farmers & Merchants State Bank (F&M Bank). As a local independent community bank that has served its markets since 1897, F&M Bank provides commercial banking, retail banking and other financial services across selected counties in Ohio, Northeast Indiana and Oakland County, Michigan, supported by loan production offices in additional locations.
This news page aggregates company-issued updates and market-moving information about Farmers & Merchants Bancorp, Inc. and F&M Bank. Readers can find earnings announcements filed via Form 8-K, where the company reports consolidated financial results, profitability trends, loan and deposit growth, asset quality metrics and capital ratios. These releases often include commentary from management on balance sheet management, credit quality and strategic priorities across the bank’s footprint.
News coverage also includes dividend declarations and changes, highlighting the company’s long history of quarterly dividend payments and its record of consecutive annual dividend increases. Additional items feature leadership appointments and promotions, such as new Market Presidents in specific regions, board appointments and the creation of roles focused on small business banking, marketing and customer experience.
Beyond financial and governance updates, F&M Bank issues news about branch expansion, such as the opening of full-service offices in Michigan, as well as community engagement initiatives. Examples include charity golf classics in Ohio and Indiana that raise funds for local organizations, and promotional events designed to engage residents across the bank’s markets. Investors, customers and observers can use this page to follow how Farmers & Merchants Bancorp, Inc. communicates its financial performance, regional growth and community-banking activities over time.
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.
Farmers & Merchants Bancorp, Inc. (FMAO) has successfully acquired Ossian Financial Services, Inc. (OFSI), enhancing its presence in Northeast Indiana. This acquisition, the third in the area since 2018, has almost doubled F&M's total assets to approximately $2.2 billion. Post-acquisition, F&M operates 12 full-service offices in Indiana with total deposits of $462 million and loans of $445 million. Expected earnings from OFSI are projected to add about $0.08 per diluted share for the remainder of 2021, excluding one-time costs. Branch signage will change on May 1, 2021.
Farmers & Merchants Bancorp, Inc. (FMAO) reported a strong first quarter for 2021, with net income rising 19.6% to $4.9 million and earnings per share climbing 18.9% to $0.44. Net interest income increased by 5.7% to $13.3 million, aided by a 24.8% surge in total deposits. The company originated $43.5 million in new loans under the Paycheck Protection Program, helping protect over 18,000 jobs. Total stockholders' equity grew by 4.4% to $246.8 million. The firm aims to complete its acquisition of Ossian Financial Services, which is expected to positively impact earnings in 2021.
Farmers & Merchants Bancorp (FMAO) has opened a new full-service banking office in Fort Wayne, Indiana, enhancing its local presence. This facility, located at 7370 Illinois Rd., will feature modern banking technology including Interactive Teller Machines (ITMs) for customer convenience. The addition increases F&M’s Indiana network to 10 locations, servicing deposits of $395 million and loans of $366 million. CEO Lars B. Eller emphasized the commitment to community-centric banking in this growing area, aiming to strengthen customer relationships locally.