ARCHBOLD, Ohio, June 11, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), proudly announces its collaboration with Habitat for Humanity of Fulton County, Ohio to sponsor and build four playhouses for deserving, local families. On Friday, June 14th, employees of F&M Bank will team up to build four playhouses for local children through Habitat's Playhouse Project program. Nearly 40 employees have volunteered to paint, assemble a ...

ARCHBOLD, Ohio, May 21, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announces the retirement of Board Chairman, Jack Johnson. Mr. Johnson was appointed to the Company's Board in January 1991. He was Vice Chairman from April 2013 to July 2013 and became Chairman of the Board of Directors on July 19, 2013, a position he held until April 30, 2024. An official celebration of his retirement from the board was held on May 21, 202 ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, May 9th:Northrim BanCorp (NRIM) : This full-service commercial bank that provides a full range of personal and business banking services, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 12.2% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 4.8%, compared with the industry average of 3.3%.Farmers & Merchants Bancorp (FMAO) : This bank ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-38084 (Exact name of registrant as specified in its charter) FARMERS & MERCHANTS BANCORP, INC. (State or other jurisdiction of incorporation or o ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, May 7th:Janus Henderson Group (JHG) : This investment management company which provides investment advisors for equities, fixed income, property and private equity sectors, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.6% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 4.7%, compared with the industry average of 2.7%.Hasbro (HAS) ...

ARCHBOLD, Ohio, May 03, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced the appointment of Andrew Briggs as Chairman of the Board of both the Company and the Bank. As part of F&M's comprehensive succession plan, current Board Chairman Jack Johnson will retire later this month after reaching the maximum age requirement as set forth in F&M's bylaws. Kevin Sauder, President and CEO of Sauder Woodworking Company, will con ...

Financial Performance - Net income for Q1 2024 was $5.4 million, down from $6.5 million in Q1 2023, with earnings per share at $0.39 compared to $0.47 last year[6]. - Net income for the quarter was $5,359,000, a decrease from $5,543,000 in the previous quarter, representing a decline of 3.3%[24]. - The company reported a net income of $5,359 thousand for the three months ended March 31, 2024, compared to $6,466 thousand in the same period of 2023, a decrease of 17.14%[37]. Income and Expenses - Total interest income for the three months ended March 31, 2024, was $38,654,000, an increase from $38,270,000 in December 2023, representing a growth of 1.0%[23]. - Net interest income after provision for credit losses was $20,673,000 for the quarter, compared to $19,468,000 in the previous quarter, reflecting an increase of 6.2%[23]. - Noninterest income totaled $3,946,000, slightly up from $3,927,000 in the previous quarter, indicating a growth of 0.5%[24]. - Total noninterest expense increased to $17,841,000 from $16,520,000 in December 2023, marking an increase of 8.0%[24]. Loans and Deposits - Total loans rose by 3.9% year-over-year to $2.54 billion as of March 31, 2024[7]. - Total deposits reached a record $2.62 billion, marking a 4.3% increase from the previous year[9]. - Total loans, net, decreased to $2,541,367 thousand as of March 31, 2024, from $2,581,191 thousand in December 2023, a decline of 1.5%[30]. - Total deposits increased to $2,621,382 thousand as of March 31, 2024, compared to $2,607,463 thousand in December 2023, reflecting a growth of 0.6%[27]. Asset Management - Total assets increased by 7.1% to a record $3.29 billion[7]. - Total assets as of March 31, 2024, were $3,287,554,000, a slight increase from $3,283,229,000 in December 2023, reflecting a growth of 0.1%[26]. - Cash and cash equivalents surged by 191.9% to $187.8 million, reflecting a $123.5 million increase[7]. - Cash and cash equivalents increased to $187,782,000 from $142,201,000 in December 2023, representing a significant growth of 32.0%[26]. Credit Quality - The allowance for credit losses to nonperforming loans was 127.28%, down from 319.38% a year ago[14]. - Nonperforming loans increased to $19.4 million, or 0.76% of total loans, primarily due to one agricultural relationship[11]. - Nonaccrual loans decreased to $19,391 thousand from $22,353 thousand in the previous year, indicating a reduction of 13.1%[32]. - Allowance for credit losses was $26,626 thousand as of March 31, 2024, down from $27,236 thousand in December 2023, a decrease of 2.2%[32]. Dividends and Shareholder Returns - The company declared cash dividends of $0.22 per share, a 4.8% increase over the same period last year, with a payout ratio of 55.52%[18]. - Dividends declared remained stable at $0.22 per share for both the current and previous quarters[24]. - Dividend payout ratio increased to 55.52% in March 2024 from 54.23% in December 2023, reflecting a higher proportion of earnings distributed to shareholders[30]. Efficiency and Ratios - Return on average assets for the quarter ended March 31, 2024, was 0.66%, slightly down from 0.67% in December 2023[30]. - The efficiency ratio improved to 74.08% in March 2024 from 69.23% in December 2023, indicating a decline in operational efficiency[30]. - The Tier 1 leverage ratio stood at 8.40% as of March 31, 2024, up from 8.20% in December 2023, indicating improved capital adequacy[30]. - Return on average tangible equity was 9.59% for the three months ended March 31, 2024, down from 12.57% in the same period of 2023[37]. Growth and Expansion - The company opened four new offices in 2023, contributing $78.6 million in deposits as of March 31, 2024[5]. - Total interest earning assets increased to $3,093,539 thousand for the three months ended March 31, 2024, compared to $2,889,450 thousand for the same period in 2023, reflecting a growth of 7.05%[34]. - Average loans increased to $2,577,114 thousand with a yield of 5.46% for the three months ended March 31, 2024, compared to $2,397,061 thousand with a yield of 4.96% in the same period of 2023[34]. - The average tangible equity for the three months ended March 31, 2024, was $223,487 thousand, compared to $205,718 thousand in the same period of 2023, reflecting an increase of 8.66%[37].

ARCHBOLD, Ohio, April 24, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced that Mark Hutchinson has joined F&M as Treasurer. In this new position, Hutchinson will oversee certain financial operations including budgeting, planning, investing and other financial matters for the Bank. Hutchinson will report to the Company's Chief Financial Officer. He has 22 years of experience working for 2 financial institutions in the ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, April 16th:TIM (TIMB) : This company in Brazil which offers mobile cellular service throughout the Brazilian territory, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.7% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 6.5%, compared with the industry average of 1.9%.Farmers & Merchants Bancorp (FMAO) : This bank holding company wh ...

ARCHBOLD, Ohio, March 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.28 billion at December 31, 2023, today announced that it has approved the Company's quarterly cash dividend of $0.22 per share, which is a 4.8% increase over the 2023 first-quarter dividend. The first quarter dividend is payable on April 20, 2024, to shareholders of record as of March 29, 2024. About Farmers & Merchants State B ...