Farmers & Merchants Bank of Long Beach Experiences Influx of Deposits Amidst Period of Banking Turbulence
Farmers & Merchants Bank of Long Beach (OTC-PINK: FMBL) reports a surge in new deposits from both existing and new clients amidst ongoing banking sector turbulence. Chairman and CEO Daniel K. Walker highlights the bank's strong financial position, citing over 116 years of operational success and a commitment to safeguarding client deposits. Notable strengths include capital reserves exceeding three times federally mandated levels and a perfect record of profitability and dividends. The bank plans to open two new branches and invest in technology to enhance client services in 2023.
- Steady inflow of new deposits from clients amid banking industry turbulence.
- Capital reserves more than three times the federally required 'well-capitalized' standard.
- 115 years of profitability and 106 years of uninterrupted dividends.
- Strong loan portfolio with a loan-to-value ratio of under 50%.
- Plans to open two new branches and invest in technology in 2023.
- None.
“We are pleased to welcome our new clients, comprised of businesses and consumers, as they are attracted to F&M Bank during this turbulent period in the banking sector. Our dedication to strong, sound and conservative management and banking policies has enabled the Bank to weather economic recessions, world wars, natural disasters, and interest rate volatility, and today’s environment is no exception,” said
“We would like to remind clients, shareholders and the communities we serve of F&M’s strong financial position, commitment to safeguarding our clients’ deposits and serving all of our stakeholders in the same professional manner as we have for more than 116 years.”
F&M Bank remains
- Strong liquidity, to support all operations and depositor needs, as well as access to significant funding, if ever needed.
- Capital reserves that are more than three times the federally mandated requirement to be deemed “well-capitalized.”
- Capital reserves sufficient to protect depositors against any unrealized securities losses and remain at two-times the regulatory “well-capitalized” standard.
- 115 years of profitability (a perfect record).
- 106 years of dividends without a decrease (a perfect record).
-
A balanced and safe loan-to-deposit ratio at
67.7% . -
A strong loan portfolio, with a loan-to-value ratio of less than
50% - one of the strongest in the country. - A stable and diversified client and deposit base developed over 116 years, with no reliance on a particular client type or sector.
- No exposure to crypto currencies or crypto-based collateral.
- No exposure to off-balance sheet hedging or related activities.
“F&M Bank is led by a team of experienced executive officers who have nearly 400 combined years of experience managing banks of all sizes. We look ahead with optimism and plans for 2023 including opening two new branch offices and continued investments in technology infrastructure to serve our clients even better. Our executive officers are available 24/7 to speak with clients and prospects, as needed,” Walker added.
About Farmers & Merchants Bank
Founded in
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Kevin Tiber, Investment Officer
Executive Vice President
562-577-2205
Kevin.Tiber@FMB.com
Corporate & Investor Relations
310-279-5980
investor@pondel.com
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