Farmers & Merchants Bank of Long Beach Increases Cash Dividend Payment to $28 Per Share

Rhea-AI Summary

Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) announced a quarterly cash dividend increase from $27 to $28 per share, showcasing the bank's financial strength and commitment to shareholder value. The dividend will be payable on March 31, 2022, to shareholders of record as of March 15, 2022. This marks the bank's 516th dividend payment, maintaining a flawless history of paying dividends without any reductions since 1916.

Positive

• Quarterly dividend increased from $27 to $28 per share.
• 516th consecutive dividend payment since 1916, demonstrating consistent financial performance.
• Dividend payment reflects the bank's financial strength and commitment to shareholder value.

Negative

• None.

--Declaration Represents 516^th Dividend Payment to Shareholders Since 1916--

LONG BEACH, Calif.--(BUSINESS WIRE)-- Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) today announced that its board of directors has approved an increase of the Bank’s regular quarterly cash dividend to $28 per share from $27 per share on the Bank’s common stock.

“The increase in the dividend payment reflects Farmers & Merchants Bank’s financial strength and the board’s commitment to enhancing shareholder value,” said Daniel Walker, chairman of the board and chief executive officer.

The quarterly dividend is payable on March 31, 2022, to shareholders of record as of March 15, 2022.

The declaration represents F&M’s 516th dividend payment. F&M has paid a dividend each year to shareholders since 1916, and the value of F&M’s quarterly dividend has never decreased.

About Farmers & Merchants Bank of Long Beach

Founded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank provides white-glove service to clients at 25 branches from San Clemente to Santa Barbara, as well as through its Online and Mobile Banking platforms. The Bank offers commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please visit the website, www.fmb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220222005302/en/

John Hinrichs

Executive Vice President

562-437-0011, ext. 5035

Roger Pondel

PondelWilkinson Inc.

Corporate & Investor Relations

310-279-5980

investor@pondel.com

Source: Farmers & Merchants Bank of Long Beach

FAQ

What is the new dividend amount for FMBL?

The new quarterly dividend amount for Farmers & Merchants Bank of Long Beach (FMBL) is $28 per share.

When will the FMBL dividend be paid?

The FMBL dividend will be paid on March 31, 2022.

What date is the record date for the FMBL dividend?

The record date for the FMBL dividend is March 15, 2022.

How many dividends has FMBL paid in total?

Farmers & Merchants Bank has paid a total of 516 dividends since its establishment.

Has FMBL ever decreased its dividend?

No, Farmers & Merchants Bank has never decreased its quarterly dividend amount since 1916.