Farmers & Merchants Bancorp (OTCQX: FMCB) posts $5.8bn assets, 14.75% ROE
Rhea-AI Filing Summary
Farmers & Merchants Bancorp furnished an investor presentation providing a mid‑year 2026 update on its financial position and strategy. As of or year‑to‑date June 30, 2026, the bank reports assets of $5.8bn, ROA 1.70%, ROE 14.75%, NIM 4.22%, TCE 11.45% and RBC 16.04%.
The franchise serves Central California and the San Francisco Bay Area with 33 locations and a diversified commercial and agricultural lending focus. Loans are 55% fixed and 45% variable, with a loan‑to‑deposit ratio of 73.07% and a year‑to‑date cost of average total deposits of 1.19%. Credit quality metrics are strong, including non‑performing loans of $2.7 million, or 0.07% of total loans and leases, and an allowance for credit losses of $77.3 million, or 2.08%. The company highlights an average annual total shareholder return of 12.74% and dividend growth of 11.11% over 29 years, along with planned new branches in Walnut Creek, Lafayette, Elk Grove, Livingston and Lockeford.
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Filing Explained
The July 23 Form 8-K furnishes the mid-year presentation under Item 7.01 for investor communications; the information, including Exhibit 99.1, is not deemed filed under Section 18 or incorporated by reference into other filings unless expressly stated.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Assets: $5.8bn
ROA: 1.70%
ROE: 14.75%
+7 more
10 metrics
Assets
$5.8bn
As of or year-to-date June 30, 2026
ROA
1.70%
As of or year-to-date June 30, 2026
ROE
14.75%
As of or year-to-date June 30, 2026
Net interest margin (NIM)
4.22%
As of or year-to-date June 30, 2026 on a tax equivalent basis
Risk-based capital (RBC)
16.04%
Capital ratio as of or year-to-date June 30, 2026
Allowance for credit losses
$77.3 million
Allowance on loans and leases as of June 30, 2026
Allowance for credit losses ratio
2.08%
Allowance as a percentage of total loans and leases as of June 30, 2026
Non-performing loans ratio
0.07%
Non-performing loans of $2.7 million as a percentage of total loans and leases as of June 30, 2026
Loan-to-deposit ratio
73.07%
Loan and deposit composition as of June 30, 2026
Average annual total shareholder return
12.74%
Over the last 29 years through December 31, 2025
Key Terms
Net charge-offs, Allowance for Credit Losses (ACL), loan-to-deposit ratio, Tax Equivalent Yield, +2 more
6 terms
Net charge-offs financial
"Net charge-offs of $4.2 million over the last 10 years (2016-2025)"
Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.
Allowance for Credit Losses (ACL) financial
"Allowance for Credit Losses (ACL) on loans and leases of $77.3 million or 2.08%"
Allowance for credit losses (ACL) is an accounting reserve banks and lenders set aside to cover loans and other receivables that may not be repaid. Think of it as a cushion or rainy-day fund that reduces reported assets to reflect expected losses; when the cushion grows, it can signal rising borrower trouble or more conservative accounting, and when it shrinks, it may boost reported profits and capital. Investors watch ACL to judge a lender’s risk exposure, earnings quality, and capital strength.
loan-to-deposit ratio financial
"Loan-to-deposit ratio – 73.07% as of June 30, 2026"
Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.
Tax Equivalent Yield financial
"Investment portfolio as of 6/30/26: $1.6 billion Tax Equivalent Yield – 3.71%"
Tangible common equity financial
"Tangible common equity divided by tangible assets"
Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.
Dividend King financial
"Ranked 17th out of 58 public companies to be considered a “Dividend King”"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What key mid-2026 financial metrics did Farmers & Merchants Bancorp (FMCB) report?
Farmers & Merchants Bancorp reported assets of $5.8bn, ROA 1.70%, ROE 14.75%, NIM 4.22%, TCE 11.45% and RBC 16.04% as of or year‑to‑date June 30, 2026, reflecting profitability, margin, and capital strength.
How strong is FMCB’s credit quality as of June 30, 2026?
Credit quality indicators are favorable, with non‑performing loans of $2.7 million, or 0.07% of total loans and leases, and an allowance for credit losses of $77.3 million, or 2.08%. Net charge‑offs were $122,000, or 0.003% of average loans and leases year‑to‑date 2026.
What is FMCB’s loan and deposit profile at mid-2026?
As of June 30, 2026, loans are 55% fixed and 45% variable, with a loan‑to‑deposit ratio of 73.07%. The year‑to‑date cost of average total deposits is 1.19%, and the cost of total interest‑bearing deposits is 1.73%, indicating relatively low funding costs.
How significant is agriculture lending in FMCB’s portfolio (FMCB)?
Agriculture‑related lending represents 25.6% of the loan portfolio as of June 30, 2026. The bank notes over 100 years of Ag lending experience, diversified Ag exposures, and very limited historical Ag net charge‑offs, including $1.3 million over 2016‑2025 and net recoveries year‑to‑date 2026.
What future branch locations are planned by Farmers & Merchants Bancorp (FMCB)?
Planned future locations include Downtown Walnut Creek (1823 N. Main St., Q4‑2026), Lafayette (3529 Mt. Diablo Boulevard, Q3‑2027), Livingston (503 Main St., Q1‑2027), Lockeford (19000 E. Highway 12, Q1‑2027) and Elk Grove (corner of Laguna and Big Horn, 2028).
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): July 23, 2026
(Exact name of registrant as specified in its charter)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (209 ) 367-2300
Former name or former address, if changed since last report
Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of
this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 |
Regulation FD Disclosure
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On July 23, 2026, Farmers & Merchants Bancorp (the “Company”) released an investor presentation (the “Investor Presentation”) which includes updates
regarding the Company’s financial position, business, and operations that management of the Company intends to use from time to time in investor communications and conferences. A copy of the Investor Presentation is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information furnished in this Current Report on Form 8-K, including Exhibit
99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not to be incorporated by reference into any filing by the Company, under the Securities Act of 1933,
as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing, unless otherwise expressly stated in such filing. By filing this Form 8-K and furnishing this information pursuant to Item 7.01, the Company
makes no admission as to the materiality of any information in this Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
| Item 9.01 |
Financial Statements and Exhibits
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(d) Exhibits
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Exhibit No.
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Description of Exhibits
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| 99.1 |
Farmers & Merchants Bancorp Investor Presentation, dated July 23, 2026.
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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FARMERS & MERCHANTS BANCORP
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By
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/s/ Bart R. Olson
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Bart R. Olson
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Executive Vice President
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& Chief Financial Officer
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Date: July 23, 2026
Exhibit 99.1
