Farmers & Merchants Bancorp (FMCB) Increases Cash Dividend for the 60th Consecutive Year

Core Viewpoint - Farmers & Merchants Bancorp has declared a mid-year cash dividend of $9.30 per share, marking a 5.7% increase from the previous year, reflecting the company's strong financial performance and commitment to returning value to shareholders [1][3]. Financial Performance - For the trailing twelve months, the company reported a net income of $88.7 million, up from $87.5 million the previous year, with diluted earnings per share increasing by 5.97% to $123.32 [1][2]. - In the first quarter of 2025, net income was $23.0 million, or $32.86 per diluted common share, compared to $22.7 million, or $30.56 per diluted common share for the same quarter in 2024 [2]. - The annualized return on average assets for Q1 2025 was 1.70%, and return on average equity was 15.65% [2]. Asset Quality and Capital Ratios - Total assets at the end of Q1 2025 were reported at $5.7 billion, with a solid credit quality indicated by only $193,000 in non-accrual loans and a delinquency ratio of 0.01% [2]. - The allowance for credit losses stood at $75.4 million, or 2.10% of total loans and leases, while the common equity tier 1 ratio was 13.75% and the total risk-based capital ratio was 15.23% [2]. Dividend History and Recognition - The company has paid dividends for 90 consecutive years and has increased dividends for 60 consecutive years, earning it a place among the "Dividend Kings" [3][5]. - Farmers & Merchants Bancorp is ranked 17th among only 55 publicly traded companies designated as "Dividend Kings" [5]. Industry Recognition - In August 2024, Farmers & Merchants Bancorp was recognized as the 2 best performing bank in the nation across all asset categories by Bank Director's Magazine [6]. - The bank was also ranked 6th on Forbes Magazine's list of "America's Best Banks" in 2023, based on various performance metrics [7]. - Additionally, it was ranked 4th on S&P Global Market Intelligence's "Top 50 List of Best-Performing Community Banks" in the US for 2023 [8]. Community Engagement - F&M Bank is the 15th largest bank lender to agriculture in the United States and has a long-standing commitment to supporting the agribusiness community in California [10][11].