Farmers & Merchants Bancorp In Stock Price, News & Analysis

Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) announced a quarterly cash dividend of $0.17 per share, a 6.3% increase from Q4 2019. The dividend will be payable on January 20, 2021 to shareholders of record by December 29, 2020. The company reported assets of $1.83 billion as of September 30, 2020, underlining its financial stability and commitment to returning value to shareholders.

Farmers & Merchants Bancorp, Inc. (FMAO) announced the acquisition of Adams County Financial Resources (ACFR) for FM Investment Services. This deal is projected to generate over $500,000 in noninterest income in 2021. ACFR, with $83 million in assets under management and over 450 clients, will enhance FM Investment Services' footprint in Northeastern Indiana. The addition of Lorie A. Garwood as Vice President/Financial Advisor further strengthens the team's expertise, bringing in 20 years of experience in investment and banking.

Farmers & Merchants Bancorp, Inc. (NASDAQ: FMAO) has expanded its Board of Directors from 12 to 13 members with the appointment of Lori A. Johnston. A seasoned leader, Johnston is the President of ProMedica Insurance Corporation and brings extensive financial expertise, having previously worked as a CPA at Ernst & Young. Her addition is part of the Company's strategic initiative to enhance board talent, aiming to boost the Bank's growth and financial performance. Johnston will serve on the Audit Committee, contributing her insights to improve operational outcomes.

Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) announced a consolidation of four branch offices as part of its strategic plan to enhance operational efficiency and invest in remote banking solutions, effective March 1, 2021. The affected locations include offices in Archbold, Wauseon, Bryan, and Monroeville. CEO Lars B. Eller emphasized the shift towards electronic banking has been accelerated by customer demand and the COVID-19 pandemic. The consolidation aims to improve customer service while maintaining ATM access. Employees affected will have opportunities to transition to other roles within the company.

Farmers & Merchants Bancorp (FMAO) reported strong third-quarter 2020 results, with a 5.3% increase in earnings per diluted share to $0.40. Net interest income rose 3.0% to $13.0 million, despite a $1.7 million increase in provisions for loan losses due to COVID-19. Noninterest income saw a significant 49.2% increase, totaling $4.7 million. Total deposits grew 18.8% year-over-year to $1.519 billion. The company remains well-capitalized with a Tier 1 capital ratio of 10.65% and declared a 13.3% increase in quarterly cash dividends to $0.17 per share.

Farmers & Merchants Bancorp (Nasdaq: FMAO) announced a 6.3% increase in its quarterly cash dividend, raising it to $0.17 per share from $0.16. This marks the 26th consecutive annual increase since 1994. The dividend will be paid on October 20, 2020, to shareholders of record as of September 29, 2020. Lars B. Eller, President and CEO, stated that the increase reflects the bank's strong financial position and commitment to supporting shareholders during the ongoing pandemic.

Farmers & Merchants State Bank announced the appointment of Shalini Singhal as the new Chief Information Officer. Singhal brings over 20 years of experience in information technology, previously serving as CIO for The Middlefield Banking Company. In her new role, she will lead IT strategy and enhance user experience through technology. Singhal holds an MBA in Systems and Operations and is keen on delivering transformative IT solutions. The company has been operating since 1897, providing banking services across Northwest Ohio and Northeast Indiana.

The Board of Directors of Farmers & Merchants Bancorp has approved a quarterly cash dividend of $0.16 per share, payable on July 20, 2020, to shareholders of record as of June 29, 2020. The company, which operates The Farmers & Merchants State Bank with assets of $1.7 billion, has been serving Northwest Ohio and Northeast Indiana since 1897. This announcement reflects the company's continued commitment to returning value to its shareholders amidst current economic conditions.

Farmers & Merchants Bancorp (Nasdaq: FMAO) has been named one of the Top 200 Publicly Traded Community Banks and Thrifts by American Banker magazine for the fourth consecutive year. This recognition is based on the company's three-year average return on equity (ROE) as of December 31, 2019. CEO Lars Eller expressed pride in this achievement, highlighting the dedication of their team and their commitment to customer relationships. Farmers & Merchants State Bank, the affiliate of FMAO, has been operational for 123 years and holds assets of $1.6 billion.