Here are the 10-K annual reports from Frmrs&MER Bncorp Lodi CA (FMCB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow FMCB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FMCB filings page.
Farmers & Merchants Bancorp is a Delaware bank holding company for F&M Bank of Central California, operating 30 branches and 3 stand-alone ATMs across eight counties in the Central Valley and East Bay. It focuses on small and mid-sized businesses, agribusiness and retail customers with a full suite of deposit and lending products.
As of December 31, 2025, common stock outstanding was 697,904 shares, with 691,945 shares outstanding as of February 28, 2026. The Bank held $4.76 billion of deposits in its markets, or 2.06% of all bank deposits there, including a 13.40% share in San Joaquin County.
The company reports it is well-capitalized under Basel III standards and did not have preferred stock outstanding. In 2025 the Bank paid $51.8 million of dividends to the holding company, which funded $13.4 million of cash dividends to shareholders, $34.7 million of share repurchases and $3.7 million of expenses and cash reserves.
Farmers & Merchants emphasizes human capital, employing 383 full‑time‑equivalent staff and spending $74.1 million on salaries and benefits in 2025. It terminated legacy executive retirement plans and replaced them with a restricted stock retirement plan authorizing up to 80,000 shares, with initial grants made in 2025.
The filing highlights extensive regulation affecting capital, dividends, consumer protection, privacy and anti‑money‑laundering, and notes the Bank’s Outstanding Community Reinvestment Act rating from a December 2025 FDIC exam. Key risks include sensitivity to U.S. and California economic conditions, commercial real estate exposure (CRE and ADC loans equal to 172% and 20.12% of total risk‑based capital), and heightened uncertainty from interest‑rate policy, tariffs and geopolitical developments.