FRMRS&MER BK LONG BCH CAL - FMBL STOCK NEWS

Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) reported its 2024 third quarter results. The bank achieved profitable operations with a strong balance sheet and capital ratios exceeding regulatory requirements. Key financial highlights include:

- Total interest and dividend income rose to $113.6 million for Q3 2024
- Net interest income before provision for credit losses was $60.4 million
- Net income for Q3 2024 was $14.3 million, or $115.17 per diluted share
- Gross loans stood at $6.46 billion as of September 30, 2024
- Total deposits were $8.77 billion at the end of Q3 2024
- Total assets were $12.02 billion as of September 30, 2024

The bank's performance was impacted by higher deposit costs and pressure from low-yielding securities in the HTM portfolio. However, F&M maintains a stable loan portfolio and strong liquidity position.

Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) has declared its third-quarter cash dividend of $28 per share on the Bank's common stock. The dividend is payable on September 30, 2024, to shareholders of record as of September 13, 2024. This marks F&M's 528th dividend payment since 1916, highlighting the Bank's consistent commitment to shareholder returns. F&M has maintained an unbroken streak of annual dividend payments for over a century, with the quarterly dividend value never decreasing. The Bank, founded in 1907, offers a range of services including commercial and small business banking, home loans, and consumer retail banking products across 27 branches from San Clemente to Santa Barbara.

Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) has announced the election of Richard H. Taketa to its board of directors. Taketa, 52, is the President of Taketa Capital and brings extensive experience in finance, operations, and risk management. He previously served as CEO of York Risk Services Group and Southern California Risk Management Associates.

Daniel K. Walker, F&M's executive chairman, welcomed Taketa, highlighting his expertise in regulated markets and corporate advisory. Taketa also serves on the boards of Palomar Holdings, Inc. and Veritone, Inc., and is active in the Orange County community. He holds a bachelor's degree from Colgate University and a Juris Doctor from Stanford Law School.

Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) reported its Q2 2024 financial results, demonstrating resilience amid challenges for regional banks. Key highlights include:

- Total interest and dividend income rose to $108.7 million, up from $102.3 million in Q2 2023
- Net interest income before provision for credit losses was $57.1 million, down from $65.1 million in Q2 2023
- Net income for Q2 2024 was $13.5 million, or $107.86 per diluted share, compared to $18.1 million, or $143.69 per diluted share in Q2 2023
- Total assets reached $12.19 billion as of June 30, 2024
- The Board authorized an additional $10 million stock repurchase program

Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) has announced a regular quarterly cash dividend of $28 per share, payable on June 28, 2024, to shareholders of record as of June 14, 2024. This marks the 527th consecutive dividend payment since 1916, maintaining a consistent dividend value. Founded in 1907, the Bank provides commercial and small business banking, business loan programs, home loans, and consumer retail banking products through 27 branches and online platforms. Farmers & Merchants Bank is a California state-chartered bank with FDIC insurance and is an Equal Housing Lender. For more details, visit www.fmb.com.

Farmers & Merchants Bank of Long Beach (FMBL) reported strong financial results for the first quarter of 2024, showcasing resilient performance despite external challenges. The bank's net interest income, total interest and dividend income, and non-interest income all saw positive growth. However, net income saw a decline compared to the same period last year. The balance sheet remained stable with a slight decrease in gross loans but maintained a dependable deposit base. Capital ratios exceeded regulatory requirements, reflecting the bank's strength and stability. The stock repurchase program also demonstrated the bank's commitment to enhancing shareholder value.

Farmers & Merchants Bank of Long Beach (FMBL) declares its 526th dividend payment of $28 per share, continuing its tradition of annual dividends since 1916.

Farmers & Merchants Bank of Long Beach (FMBL) reported financial results for the fourth quarter and full year ended December 31, 2023, including a new $10 million stock repurchase program. The bank's net interest margin and net income declined, while total interest and dividend income increased. The Board of Directors declared a total of $127 per share in dividends in 2023. The bank's gross loans and total deposits remained stable, and its capital ratios exceeded regulatory requirements.

Farmers & Merchants Bank of Long Beach (FMBL) reported strong financial results for the fourth quarter and full year ended December 31, 2023. The Board of Directors authorized a new $10 million stock repurchase program, reflecting confidence in the bank's long-term outlook. Despite industry pressures, the bank maintained a strong balance sheet and capital ratios, with net charge-offs of 0.01% and an allocation for credit losses for loans ratio of 1.45%. However, the net interest margin and net income saw declines compared to the previous year.