LODI, Calif., Nov. 24, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), has amended their record date for the fourth quarter dividend from December 15, 2025 to December 4, 2025. The quarterly cash dividend declared amount of $5.05 per share and the cash dividend pay date of January 2, 2026 both remain unchanged from the original announcement on November 12, 2025. The ...

Financial Data and Key Metrics Changes - In Q3 2025, the company reported record revenues exceeding $4 billion, driven by strong customer growth and engagement [3][4] - Net income reached $783 million, marking a 39% year-over-year increase, with a return on equity (ROE) of 31% [23] - The cost-to-income ratio improved to 28%, reflecting enhanced operational efficiency [4][22] Business Line Data and Key Metrics Changes - The customer base grew to 127 million, with over 4 million net additions in the quarter, maintaining an activity rate above 83% [3] - Credit portfolio balances reached $30.4 billion, up 42% year-over-year, with secured lending growing 133% and unsecured loans increasing by 63% [15][16] - Loan originations hit a record high of $4.2 billion, up 40% year-over-year [16] Market Data and Key Metrics Changes - In Brazil, the company serves over 60% of the adult population and is the largest player in the SME segment by account numbers [5] - In Mexico, customer growth reached approximately 14% of the adult population, with RPAC levels nearing those in Brazil at $12.5 [6][46] - The cost of funding improved from 91% to 89% of interbank rates, demonstrating effective volume growth and efficiency [18] Company Strategy and Development Direction - The company aims to broaden its product portfolio and deepen customer engagement while executing a disciplined credit strategy [5][6] - A focus on becoming AI-first is emphasized, integrating AI into operations to enhance customer experiences and improve risk management [8][9] - The company is exploring opportunities in the U.S. following its filing for a National Bank Charter, while prioritizing growth in Brazil and Mexico [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the scalability of their model, highlighting strong customer engagement and unit economics [4][5] - The company anticipates continued growth in Mexico, with expectations of meaningful contributions to results in the coming years [6][72] - Management remains cautious about potential regulatory impacts in Mexico, particularly regarding proposed caps on card interchange fees [48][49] Other Important Information - The gross profit reached $1.8 billion, up 32% year-over-year, with a gross profit margin of 43.5% [22] - The liquidity metrics for the consumer credit portfolio in Brazil showed a 15-90 day NPL ratio of 4.2% and a 90-plus-day NPL ratio of 6.8% [20][21] Q&A Session Summary Question: Can you explain the lower provisions this quarter? - Management noted that asset quality has improved, with better-than-expected performance and recovery levels due to reactivating previously defaulted customers [26][27] Question: What explains the NIM contraction? - Management explained that the decline in net interest margin (NIM) was due to a shift towards less risky assets and increased interest expenses in Brazil, despite a decrease in funding costs as a percentage of interbank rates [33][34] Question: How is the rollout of the credit limit increase program performing? - Management indicated that the full effects of the credit limit increase program will materialize over time, with a focus on less risky customers [40][41] Question: What is the impact of the proposed cap on card interchange fees in Mexico? - Management expressed concerns that caps could inhibit financial inclusion and the unit economics of new customers, while remaining engaged in discussions with industry participants [48][49] Question: Will the company provide NPL data for Mexico? - Management confirmed that as Mexico's relevance in the credit portfolio grows, more granular disclosures on asset quality will be provided [52][53]

Core Viewpoint - Farmers & Merchants Bancorp is launching a special voluntary program allowing shareholders with 99 shares or less to sell their shares without fees, aimed at increasing liquidity and portfolio diversification [1][2]. Group 1: Program Details - The program will be effective from November 19, 2025, to December 23, 2025, unless terminated or extended by the company [2]. - Eligible shareholders will be notified by mail about the program [2]. - The program will be administered by Georgeson LLC, with Computershare Trust Company serving as the paying agent [2]. Group 2: Company Overview - Farmers & Merchants Bancorp trades on the OTCQX under the symbol FMCB and is the parent company of Farmers & Merchants Bank of Central California [4]. - Founded in 1916, F&M Bank operates 33 locations in California and has $5.6 billion in assets [4]. - The bank has maintained a 5-Star rating from BauerFinancial for 35 consecutive years, making it one of the safest banks in the nation [4]. Group 3: Banking Services - F&M Bank offers a comprehensive range of loan, deposit, equipment leasing, and treasury management products for businesses, as well as consumer banking products [5]. - The bank received the highest rating of "Outstanding" from the FDIC in its last Community Reinvestment Act evaluation [5].

Financial Performance - Net income for Q3 2025 was $7.5 million, with diluted EPS at $0.47[8] - Pre-tax pre-provision net income improved by 28% sequentially[8] - The tax-equivalent net interest margin increased to 3.08% from 2.93%, a 15 basis point increase[8, 15] Loan and Deposit Portfolio - Total deposits increased by $137.5 million, driven by existing and new relationships[8] - Non-interest bearing deposits represent 43.1% of total deposits[8, 27] - $100.7 million in new loans were originated, with $69.0 million funded, including $85.3 million in commercial loans originated ($65.4 million funded)[8] - Non-accrual loans decreased to 1.51% of total loans from 1.57% in the prior quarter[8] Capital and Liquidity - The bank repurchased $1.1 million in shares in Q3 2025[8, 18] - Total risk-based capital remained strong at 16.13%[8, 17] - Immediately available net funding of $2.0 billion, representing 202% coverage of estimated uninsured deposits[8, 20]

Financial Data and Key Metrics Changes - The company generated net income of $3.2 million or $0.32 per diluted share in Q3 2025, a 45% increase from the same quarter last year [6] - Tangible book value per share increased by 1.2% this quarter [6] - Gross revenue increased by 8.7% from the prior quarter and 15.5% year-over-year [9] - Net interest income rose for the fourth consecutive quarter, increasing 8.9% from the prior quarter and 25% year-over-year [9][10] - Non-interest income increased by more than $500,000 or 8.5% from the prior quarter [10] Business Line Data and Key Metrics Changes - Loans held for investment increased by $50 million from the end of the prior quarter, with new loan production of $146 million in Q3 [7] - Total deposits increased by $320 million from the end of the prior quarter, driven by new accounts and existing client balance growth [8] - Trust and investment management assets under management decreased by $64 million, primarily due to net withdrawals from low-fee product categories [8] Market Data and Key Metrics Changes - The average rate on new loan production was 6.38% in the quarter [7] - The spot rate on deposits at the end of the quarter was 3.04% [24] - The company achieved a 63% beta on money market accounts in Q3, which is expected to continue into Q4 [25] Company Strategy and Development Direction - The company aims to grow deposits and loans by focusing on superior service rather than competing on pricing [4] - Management is optimistic about opportunities arising from market disruptions due to M&A activity in Colorado [12] - The company is focused on creating operating leverage by growing revenues faster than expenses [43] Management's Comments on Operating Environment and Future Outlook - Management sees healthy economic conditions in their markets and expects strong loan and deposit pipelines to continue into Q4 [12] - There are no indications of meaningful deterioration in asset quality, with stable trends in the loan portfolio [12] - The company anticipates NIM expansion as liquidity is deployed into the loan portfolio [19] Other Important Information - The company has made significant investments in technology and team restructuring to enhance operational efficiency [68] - The efficiency ratio is trending down with operating leverage increasing [70] - The company was named one of the KBW Bank Honor Roll members in 2025 for its performance [70] Q&A Session Summary Question: Insights on deposit growth and mortgage department contributions - Management indicated that the deposit growth is expected to remain stable and provide a higher base for future growth [16] Question: Details on the credit related to the downgraded loan - A specific provision was made for a C&I loan that was downgraded, and management expects it to be resolved over time [17] Question: Expectations for NIM in Q4 - Management anticipates a potential NIM expansion of about five basis points in Q4 [20] Question: Thoughts on the beta for additional Fed rate cuts - The beta has been declining, with a reasonable expectation of around 63% for the fourth quarter [25] Question: Update on wealth management and AUM strategy - The company is focused on fee income growth rather than AUM, with positive progress noted in agency accounts [27] Question: Opportunities from M&A disruptions - Management believes that ongoing market disruptions create opportunities for talent acquisition and client growth [37] Question: Plans for redeploying excess cash - The company expects to continue deploying liquidity into the loan portfolio, with strong loan demand trends anticipated [61]

Core Insights - First Western Financial, Inc. reported a net income of $3.2 million for Q3 2025, an increase from $2.5 million in Q2 2025 and $2.1 million in Q3 2024, reflecting improved profitability [3][7]. - The company experienced significant growth in total deposits, which rose by $320 million, or 12.6%, from $2.53 billion in Q2 2025 to $2.85 billion in Q3 2025 [7][22]. - Net interest income increased by $1.6 million, or 8.9%, from $17.9 million in Q2 2025 to $19.5 million in Q3 2025, driven by a rise in average interest-earning assets [7][13]. - Non-interest income also saw a rise of $0.5 million, or 7.9%, from $6.3 million in Q2 2025 to $6.8 million in Q3 2025, primarily due to increases in net gains on mortgage loans and fees [7][14]. - The efficiency ratio improved to 76.4% in Q3 2025 from 78.8% in Q2 2025, indicating better cost management [18]. Financial Performance - Total income before non-interest expense was $24.0 million for Q3 2025, up 7.1% from $22.4 million in Q2 2025, with gross revenue increasing by 8.7% to $26.3 million [9]. - The provision for credit losses was $2.3 million in Q3 2025, compared to $1.8 million in Q2 2025, reflecting a cautious approach to credit risk [29]. - The net interest margin decreased by 13 basis points to 2.54% from 2.67% in Q2 2025, attributed to a shift in the mix of interest-earning assets and an increase in the cost of funds [11][12]. Asset and Liability Management - Total loans held for investment increased by $50 million, or 2.0%, to $2.59 billion as of September 30, 2025, with growth in non-owner occupied commercial real estate and residential portfolios [21]. - Total assets reached $3.24 billion as of September 30, 2025, up from $3.03 billion in Q2 2025, indicating robust growth [42][44]. - The company’s borrowings from the Federal Home Loan Bank and Federal Reserve decreased to $50.9 million, down $112.5 million from $163.4 million in Q2 2025, reflecting strong deposit growth [23]. Credit Quality - Non-performing assets totaled $22.7 million, or 0.70% of total assets, as of September 30, 2025, an increase from $18.8 million, or 0.62%, in Q2 2025 [26]. - Non-performing loans increased to $18.3 million from $14.4 million in Q2 2025, primarily due to the addition of one credit relationship [28]. - The allowance for credit losses as a percentage of total loans increased from 0.75% to 0.81% during the quarter, reflecting a proactive stance on credit quality [29]. Capital Position - As of September 30, 2025, the company maintained a strong capital position, with Tier 1 capital to risk-weighted assets at 9.80% and total capital at 12.50% [30]. - Book value per common share increased by 1.1% from $26.64 in Q2 2025 to $26.92, and tangible book value per common share rose by 1.2% from $23.39 to $23.68 [30][31].

Financial Data and Key Metrics Changes - TrustCo Bank reported a net income of $16.3 million for Q3 2025, representing a 26.3% increase compared to the same quarter last year [10] - Return on average assets increased to 1.03% and return on average equity grew by 20% [7] - Efficiency ratio improved by almost 9% year-over-year [7] - Consolidated equity to assets ratio was 10.9%, slightly down from 10.95% in 2024 [11] - Book value per share increased by 6% to $37.3 compared to $35.19 a year earlier [11] Business Line Data and Key Metrics Changes - Average loans grew by 2.5% or $125.9 million to $5.2 billion, marking an all-time high [12] - Home equity credit lines increased by $59.9 million or 15.7%, while residential real estate loans rose by $34 million or 0.8% [13] - Commercial loans also increased by $34.6 million or 12.4% [13] - Non-performing loans decreased to $18.5 million from $19.4 million a year ago, with a coverage ratio of over 280% [7][12] Market Data and Key Metrics Changes - Total deposits reached $5.5 billion, up $217 million compared to the prior year quarter [14] - Net interest income for Q3 2025 was $43.1 million, an increase of $4.4 million or 11.5% year-over-year [14] - Net interest margin improved to 2.79%, up 18 basis points from the prior year [14] - The yield on interest-earning assets increased to 4.25%, up 14 basis points from the prior year [14] Company Strategy and Development Direction - The company is focused on delivering high-quality loan and deposit products while maintaining strong underwriting standards [6] - TrustCo Bank has received approval to repurchase 1 million shares, with nearly half repurchased so far, indicating confidence in the stock's undervaluation [8][9] - The management emphasizes long-term shareholder value and plans to seek further stock repurchase approvals [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the loan growth driven by a strong local economy and increased demand for credit [13][19] - The bank remains committed to maintaining competitive deposit offerings while ensuring financial stability [15] - The management highlighted the importance of relationship banking and digital capabilities in retaining deposits [14] Other Important Information - The wealth management division had approximately $1.25 billion in assets under management, contributing significantly to non-interest income [15] - Total non-interest expense net of ORE expense was $26.2 million, down from the prior year quarter [16] Q&A Session Summary Question: Expectations for net interest income and CD rates - Management indicated the highest rate offered is 4% for a three-month CD, with $1 billion in CDs maturing over the next six months [27] - The average rate on the $1 billion coming due is approximately 3.75% [28] Question: Details on recoveries and property repossessions - Management noted that the $194,000 in recoveries for the quarter relates to about five properties, with a strong real estate market facilitating transactions before repossession [29] Question: Future branch expansion plans - Management is interested in expanding in Pasco County, Florida, and is also exploring opportunities in Downstate New York [30][31]

Core Insights - LHV Group experienced a decline in net income and profitability in Q3 2025, despite an increase in business volumes [1][2][15] Financial Performance - LHV Group's net profit for Q3 2025 was EUR 26.3 million, a decrease of 14% from the previous quarter and 24% year-on-year [2][4] - Consolidated net income for Q3 2025 was EUR 72.7 million, down 2% from Q2 2025 and 13% from Q3 2024 [2] - Net interest income was EUR 55.5 million, while net fee and commission income was EUR 15.3 million [2][6] - Total expenses for Q3 2025 were EUR 38.8 million, a decrease of 4% from the previous quarter but an increase of 8% year-on-year [2][6] Asset and Loan Growth - As of September 2025, consolidated assets reached EUR 9.53 billion, up 2% from the previous quarter and 22% year-on-year [3] - The consolidated loan portfolio grew by EUR 236 million, or 5%, to EUR 5.23 billion [3][15] - Consolidated deposits increased by EUR 89 million, or 1%, to EUR 7.45 billion [3][15] Customer and Market Activity - The number of LHV Pank customers grew by 9,200 during the quarter, with strong customer activity in settlements and card usage [8] - The volume of payments made by financial intermediaries reached 21.3 million in Q3, an increase of 1.4 million from the previous quarter [3] Subsidiary Performance - LHV Pank's net profit for the first nine months was EUR 79.4 million, which is EUR 2.8 million below the financial plan [9] - LHV Bank's loan portfolio in the UK increased by EUR 91 million to EUR 660 million, with over EUR 200 million in loans approved but not yet issued [10][11] - LHV Kindlustus reported a net profit of EUR 2.4 million for the first nine months, exceeding the financial plan by EUR 0.7 million [12] Capital and Ratings - LHV Group is well-capitalized, meeting all capital objectives with sufficient margin [14] - Moody's upgraded LHV Group's non-subordinated debt rating to Baa2 [14]

Financial Performance - The company reported record third quarter net income of $23.7 million, or $33.92 per diluted common share, compared to $22.1 million, or $29.96 per diluted common share, for the same quarter in 2024, marking a 7.22% increase [2][5] - The annualized return on average assets was 1.70% and return on average equity was 15.10% for the third quarter of 2025, compared to 1.65% and 15.03% for the same quarter in 2024 [2][5] - Net interest income for the quarter was $55.4 million, up 6.6% from $52.0 million in the third quarter of 2024 [5][7] Earnings and Shareholder Value - Over the trailing twelve months, net income was $91.6 million, an increase from $88.0 million for the same period a year earlier [3] - Diluted earnings per share over the trailing twelve months totaled $130.83, up 10.4% compared to $118.46 for the same period a year ago [3][5] - The tangible book value per share increased by 9.8% to $877.13 compared to $799.04 as of September 30, 2024 [5][7] Balance Sheet and Liquidity - Total assets at quarter-end were $5.6 billion, up from $5.4 billion as of December 31, 2024 [8] - Total deposits increased by $185.9 million, or 4.0%, to $4.9 billion at September 30, 2025, compared to December 31, 2024 [6][8] - The company maintained a strong liquidity position with $172.6 million in cash and $1.6 billion in investment securities [4][5] Credit Quality - The company's credit quality remained solid with only $1.0 million, or 0.03%, in non-accrual loans and leases as of September 30, 2025 [9] - The allowance for credit losses on loans and leases was 2.10% as of September 30, 2025, with a net charge-off ratio of 0.03% for the quarter [9][10] Capital Ratios - The company's preliminary total risk-based capital ratio was 15.76% and the common equity tier 1 ratio was 14.28% as of September 30, 2025, both exceeding regulatory requirements for "well-capitalized" banks [10][11] - The company announced a change in its dividend policy from semi-annual to quarterly payments, with the first quarterly dividend declared on August 12, 2025 [10][11]

Core Insights - KeyCorp reported a net income of $454 million for Q3 2025, a significant increase from a net loss of $(447) million in Q3 2024, reflecting strong operational performance and effective management strategies [1][5][39] - Adjusted revenue for Q3 2025 was $1.9 billion, up 17% year-over-year, driven by net interest income growth and a 8% increase in adjusted noninterest income [2][6] - The company achieved a net interest margin of 2.75%, an increase of 58 basis points compared to Q3 2024, attributed to lower deposit costs and a favorable shift in the balance sheet composition [6][7] Financial Performance - Net interest income for Q3 2025 was $1.19 billion, up 23.8% year-over-year, while total revenue increased by 172.7% compared to Q3 2024 [6][30] - Noninterest income reached $702 million, a 361% increase from the previous year, primarily due to the absence of significant losses on securities sales that occurred in Q3 2024 [8][9] - Total noninterest expense was $1.18 billion, reflecting a 7.4% increase year-over-year, mainly driven by higher personnel expenses related to incentive compensation [10][11] Asset Quality and Risk Management - Nonperforming assets decreased by 9.9% year-over-year, indicating improved credit quality, with net charge-offs remaining stable at 42 basis points [1][17] - The allowance for loan and lease losses was $1.44 billion, representing 219% of nonperforming loans, demonstrating a strong reserve position [17][19] Capital Position - KeyCorp's Common Equity Tier 1 ratio stood at 11.8% as of September 30, 2025, reflecting a solid capital position above regulatory requirements [21][23] - The company maintained a tangible common equity to tangible assets ratio of 8.1%, indicating strong capital management [21] Business Segment Performance - The Consumer Bank segment generated $935 million in revenue, a 16.9% increase year-over-year, while the Commercial Bank segment reported $1.01 billion, up 17.1% [25][39] - Investment banking and debt placement fees contributed significantly to revenue growth, with a notable increase in M&A pipelines [3][39]