FRMRS&MER BK LONG BCH CAL - FMBL STOCK NEWS

F&M Bank (OTCQX: FMBL) announces key executive management changes, reinforcing its strategic vision and growth. Daniel K. Walker is named Executive Chairman of the Board, W. Henry Walker promoted to CEO, Kevin M. Tiber to President, Kathleen Salmons to Executive VP, Chief Risk Officer, and Taylor L. Hoang to Executive VP, CFO. John W.H. Hinrichs retires after a multi-decade career with the Bank.

Farmers & Merchants Bank of Long Beach reports financial results for Q3 2023, with strong balance sheet and stable deposit base. Cost of funds may impact performance in the near-term. Total interest and dividend income rose to $107.9 million. Net interest income before provision for credit losses decreased to $64.9 million. Net interest margin was 2.14% for Q3 2023. Non-interest income was $4.1 million. Net income was $17.4 million. Gross loans amounted to $6.81 billion. Deposits were $9.06 billion. Total assets increased to $12.5 billion. Capital ratios exceed regulatory requirements. Bank repurchased 93 shares of common stock.

Farmers & Merchants Bank declares regular quarterly dividend of $28 per share on common stock.

Farmers & Merchants Bank of Long Beach reports financial results for Q2 2023, with total interest and dividend income rising to $102.3 million from $81.2 million in Q2 2022. Net interest income for Q2 2023 was $65.1 million compared to $78.1 million in Q2 2022. Net income for Q2 2023 was $18.1 million compared to $29.1 million in Q2 2022. Gross loans remained stable at $6.82 billion. Deposits decreased to $8.89 billion from $9.14 billion. Total assets increased to $12.27 billion.

Farmers & Merchants Bank of Long Beach (FMBL) reported its Q1 2023 financial results, highlighting a net income of $21.6 million or $170.86 per diluted share, a decline from $27.8 million or $217.02 in Q1 2022. Interest and dividend income increased to $97.3 million from $75.3 million, while net interest income fell to $70.8 million, down from $72.6 million. The bank maintained a strong capital position with a total risk-based capital ratio of 16.63%, surpassing regulatory requirements. Deposits decreased to $8.97 billion, down from $9.14 billion, yet the bank attracted a 17% increase in new accounts year-over-year. The Q1 results reflect the challenges faced by the banking sector amid rising interest rates.

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.

Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) has declared a $28 cash dividend per share, marking its 521st dividend payment since 1916. This quarterly dividend will be payable on March 31, 2023, to shareholders of record as of March 15, 2023. F&M has maintained a consistent dividend payment history, never decreasing its quarterly dividend value during its century-long commitment to shareholders. The bank, founded in 1907, provides a range of banking services across California and is recognized for its robust service offerings and stability.

Farmers & Merchants Bank of Long Beach (FMBL) reported strong financial results for the fourth quarter and full year ending December 31, 2022. Total interest and dividend income rose to $95.9 million for Q4 and $340.3 million for the year, while net interest income before loan loss provision increased to $77.3 million in Q4 and $309.0 million for the year. Despite net income decreasing to $25.4 million in Q4, the bank's capital ratios remain strong, exceeding regulatory requirements. However, non-interest income fell to $4.2 million for Q4 and $18.5 million for the year. The bank repurchased shares under a stock buyback program, purchasing 2,400 shares at an average price of $8,132.92.