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 reports developments tied to its role as the OTCQX-traded parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank. The community bank serves California through a branch network and has a long-standing focus on agricultural lending, alongside conventional banking measures such as deposits, loans, securities, liquidity and capital ratios.
Recurring FMCB news covers quarterly and annual earnings, net interest income and margin, asset and deposit trends, credit quality, cash dividends, share repurchase authorizations and shareholder liquidity programs. Company updates also address tangible book value, regulatory capital, non-accrual loans, charge-offs and the bank's operating footprint.
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.