Welcome to our dedicated page for Farmers Merchant news (Ticker: FMCB), a resource for investors and traders seeking the latest updates and insights on Farmers Merchant stock.
Farmers & Merchants Bancorp (FMCB) is the parent company of Farmers & Merchants Bank of Central California, a locally owned and operated community bank founded in 1916. The company trades on the OTCQX under the symbol FMCB and operates in the commercial banking industry with a focus on California markets, including the Central Valley and parts of the San Francisco Bay Area.
This news page aggregates company-issued press releases and other coverage related to FMCB. Readers can follow announcements on quarterly and annual financial results, including net income, earnings per share, returns on assets and equity, loan and deposit trends, and credit quality metrics. The company frequently reports on its capital ratios and notes when they exceed regulatory thresholds for "well-capitalized" banks.
Farmers & Merchants Bancorp also uses news releases to communicate decisions by its board of directors, such as changes in dividend policy, declarations of cash dividends, and its long record of consecutive dividend payments and increases. Updates on share repurchase authorizations, special shareholder programs, and other capital management actions are also disclosed through news items.
Because F&M Bank is active in agricultural lending and community banking, news may highlight its role as a significant agricultural lender and its recognition by organizations such as Bank Director’s Magazine, Forbes, S&P Global Market Intelligence, and Newsweek. Investors and observers can use this page to monitor how the company describes its financial performance, risk profile, and community banking activities over time.
Farmers & Merchants Bancorp (FMCB) reported record net income of $23.5 million for Q1 2023, translating to $30.80 per share, up from $17.1 million in Q1 2022. The company achieved a return on average assets of 1.80% and return on average equity of 18.93%. Key highlights include strong liquidity with $529.6 million in cash and no outstanding borrowings, alongside a total risk-based capital ratio of 13.68%. Although customer deposits saw a slight decline of 4.62% due to seasonal factors, the loan portfolio grew by 5.85% year-over-year. The company's credit quality remained strong with a robust allowance for credit losses of 1.99%. Noninterest income included $4.3 million from a BOLI benefit, though offset by a $5.7 million loss from securities sales.
Farmers & Merchants Bancorp (OTCQX: FMCB) reported record net income of $75.1 million, or $96.55 per share for 2022, reflecting a 14.93% increase from 2021. Total assets rose to $5.3 billion, with loans held for investment growing 10.7% to $3.5 billion. The bank's return on average assets improved to 1.41%, and return on average equity reached 16.04%. However, the company recorded $10.7 million in losses from the sale of investment securities and a drop in NSF fees. Despite these challenges, non-performing loans remained low at 0.02%. FMCB's net interest margin rose to 4.45%.
The Board of Directors of Farmers & Merchants Bancorp (OTCQX: FMCB) has announced an extension of its share repurchase program through December 31, 2024, with an additional $20 million authorized for repurchases. Since November 2021, the company has repurchased and retired 18,824 shares, valued at $17.9 million, representing 2.38% of total shares outstanding. The company's capital ratios remain strong, with a tier 1 leverage capital ratio of 9.12% and a total capital ratio of 13.32%, classifying it as 'well capitalized'.
Farmers & Merchants Bancorp (OTCQX: FMCB) has declared a year-end cash dividend of $8.30 per share, marking a 6.41% increase from 2021. The dividend will be paid on January 3, 2023 to shareholders of record by December 7, 2022. In 2022, total cash dividends were $16.15 per share, up 5.56%. The company reported record net income of $19.5 million for Q3 2022, with earnings per share of $25.20, a 13.7% increase year-over-year. Farmers & Merchants Bancorp remains well-capitalized with a tier 1 leverage capital ratio of 9.12%.
Farmers & Merchants Bancorp (OTCQX: FMCB) reported a record net income of $19.5 million, or $25.20 per share, for Q3 2022, a 13.67% increase from Q3 2021. The company achieved a return on average assets of 1.45% and return on average equity of 16.64%. Total assets grew 7.13% to $5.5 billion, with loans increasing 9.67% to $3.3 billion. Net interest margin improved to 3.95%. The company repurchased 6,368 shares during the quarter, reflecting strong capital management.
Farmers & Merchants Bancorp (OTCQX: FMCB) reported record net income of $18.4 million, or $23.58 per share for Q2 2022, a 15.3% increase from the previous year. The return on average assets was 1.38%, with equity at 15.94%. Total assets grew to $5.3 billion, with deposits increasing by 8.1% to $4.8 billion. Loans held for investment rose by 12.5% to $3.2 billion, excluding forgiven SBA PPP loans. The efficiency ratio improved to 47.8%. Dividends were declared at $7.85 per share, marking 87 consecutive years of dividend payments.
Farmers & Merchants Bancorp (OTCQX: FMCB) declared a cash dividend of $7.85 per share, marking a 4.7% increase from the $7.50 paid in July 2021. This dividend, payable on July 1, 2022, recognizes the company’s solid financial performance, including a net income of $17.1 million for Q1 2022. With a return on average assets of 1.29% and a stable credit quality, FMCB continues its streak as a “Dividend King”, celebrating 87 years of consecutive dividends and 57 years of increases.
Farmers & Merchants Bancorp (OTCQX: FMCB) reported a record net income of $17.1 million or $21.70 per share for Q1 2022, marking a growth from $16.7 million in Q1 2021. Total assets rose by 14.6% year-over-year to $5.4 billion, while total deposits increased by 14.1% to $4.8 billion. The company achieved a return on average assets of 1.29% and return on average equity of 14.65%. Notably, the efficiency ratio improved to 51.1%. Cash and liquid investment securities grew by 36.8% to $2.0 billion. Overall, FMCB shows robust financial health as it replaces forgiven SBA PPP loans with higher-yielding loans.
Farmers & Merchants Bancorp (FMCB) reported strong financial results for 2021, with net income reaching $66.3 million or $84.01 per share, reflecting a 13.47% increase from 2020. Total assets grew by $627 million (13.8%) to $5.2 billion, while total deposits rose by $580 million (14.3%) to $4.6 billion. The bank's loan portfolio, excluding forgiven SBA PPP loans, expanded by 10%. Despite low interest rates affecting margins, FMCB remains optimistic about future growth, aided by a new branch in Alameda County.
Farmers & Merchants Bancorp (OTCQX: FMCB) declared a year-end cash dividend of $7.80 per share, a 4.00% increase from last year. The dividend is payable on January 3, 2022, to shareholders of record as of December 9, 2021. In 2021, total cash dividends increased 3.73% to $15.30 per share. The company reported record net income of $17.5 million for Q3 2021, up 18.2% year-over-year, and a total net income of $65.9 million over the last twelve months, reflecting strong financial performance amidst market challenges.