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) has appointed Michelle Galvan as Assistant Vice President and Shareholder Relations Officer to enhance shareholder engagement. Kent Steinwert emphasized the importance of addressing shareholder needs. The company also reauthorized a share repurchase program of up to $20 million, representing about 4% of outstanding equity as of September 30, 2021. This buyback aims to enhance shareholder value through open market purchases and may be subject to various market conditions.
Farmers & Merchants Bancorp (OTCQX: FMCB) has been inducted into the National Ag Science Center's Ag Hall of Fame, marking its status as the first financial institution to receive this accolade. Serving California's ag community for over 100 years, F&M Bank is the 14th largest agricultural lender in the U.S., with 45% of its loan portfolio dedicated to agriculture. The bank's commitment to supporting local agricultural programs has resulted in over $250,000 in donations and more than 1,000 interest-free loans to students. The induction ceremony took place on November 5, 2021.
Farmers & Merchants Bancorp (OTCQX: FMCB) announced that Stephen W. Haley, CFO, will retire on December 31, 2021, after 18 years with the company. Mark K. Olson, previously CFO at Altabank, will take over on November 1, 2021. The transition aims to ensure continuity and leverage Olson's extensive banking experience as FMCB continues to expand. The company is recognized for its strong asset growth, reaching over $5.0 billion, and for its commitment to agriculture lending. FMCB has maintained a robust dividend history and high ratings from BauerFinancial.
Farmers & Merchants Bancorp (OTCQX: FMCB) reported record net income of $17.5 million for Q3 2021, an increase of 18.2% year-over-year. Earnings per share reached $22.16, up 18.8%. Year-to-date net income stands at $50.4 million, a 16.5% rise compared to the previous year. The company’s total assets grew by 18.6% to $5.1 billion, with net interest income at $39.1 million. Asset quality remains healthy, evidenced by a mere $516,000 in non-performing loans. The company is optimistic about future growth, particularly with the upcoming opening of a new branch in Oakland.
Farmers & Merchants Bancorp (OTCQX: FMCB) proudly announces that its subsidiary, F&M Bank, has been recognized as the Best Community Bank in California by Newsweek in its America's Best Banks 2022 ranking. This award highlights the bank's exceptional customer service and reliability, especially in the reshaped banking landscape due to the pandemic.
Farmers & Merchants Bancorp (OTCQX: FMCB) announced the retirement of Kenneth W. Smith, Executive Vice President and Chief Credit Officer, effective December 31, 2021, ending 46 years in banking. Jay J. Colombini will succeed him starting November 1, 2021, bringing 36 years of credit administration experience, including 28 years at the bank. Chairman and CEO Kent A. Steinwert praised Smith's contributions to the bank's credit quality. The company continues to focus on strategic succession planning, appointing two Senior Vice President – Market Managers to fill Colombini's current role.
Farmers & Merchants Bancorp (OTCQX: FMCB) reported record net income of $16.2 million for Q2 2021, a 12.9% increase from the prior year. Earnings per share rose to $20.45, reflecting a 13.4% increase year-over-year. Net interest income reached $39.8 million, up 12.5%, although the net interest margin fell to 3.52%. Total assets grew to $4.9 billion, a 15.7% increase, with total deposits at $4.4 billion, up 16.7%. The company declared a dividend of $7.50 per share, continuing its 56-year dividend increase streak.
The Board of Directors of Farmers & Merchants Bancorp announced a mid-year cash dividend of $7.50 per share, increasing from $7.25 in July 2020. This dividend is payable on July 1, 2021, to shareholders of record on June 11, 2021. The company reported net income of $16.7 million for Q1 2021, an 18.4% increase from the previous year, with a return on average assets of 1.45%. Farmers & Merchants remains a member of the select group of Dividend Kings, marking its 86th consecutive year of paying dividends.
Farmers & Merchants Bancorp (FMCB) reported a record net income of $16.7 million for Q1 2021, an increase of 18.4% from Q1 2020. Earnings per share rose 18.9% to $21.17. Net interest income grew 13.2% to $40.1 million, despite a decline in net interest margin to 3.74% due to low market rates. Total assets reached $4.7 billion, up 27.3%, with total loans increasing 16.5%. Credit quality remained strong with a negligible delinquency ratio of 0.026% and only $493,000 in non-performing loans.
Farmers & Merchants Bancorp (FMCB) reported record net income of $58.7 million ($74.03 per share) for the year ending December 31, 2020, marking a 4.8% increase from the previous year. The company achieved a return on average assets of 1.43% and return on average equity of 14.60%. Total deposits grew 23.9% to $4.1 billion, while total loans increased 16.1% to $3.11 billion. In Q4 2020, net income was $15.5 million with a 1.39% return on average assets. Credit quality remained strong amidst economic challenges.