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Farmers & Merchants Bank of Long Beach (FMBL) is a reputable financial institution headquartered in Long Beach, California. Established in 1907, it has grown to become a cornerstone of the community by providing a wide range of banking services to individuals, businesses, and non-profits. The bank offers both personal and commercial banking solutions, including savings accounts, checking accounts, loans, and credit facilities.
In recent years, Farmers & Merchants Bank of Long Beach has made significant strides in enhancing its digital banking capabilities. This includes the introduction of a user-friendly mobile banking app and an upgraded online banking platform, making it easier for customers to manage their finances on the go.
The bank is known for its strong financial condition, consistently reporting solid performance metrics. Its conservative approach to lending and investment has helped it maintain a robust balance sheet and a high level of customer trust. Additionally, FMBL has forged key partnerships with local businesses and community organizations, further cementing its role as a pillar of the local economy.
Farmers & Merchants Bank of Long Beach continues to focus on community engagement through various programs and initiatives. Its commitment to customer satisfaction and community support has garnered numerous awards and recognitions over the years.
Stay updated with the latest news and developments about Farmers & Merchants Bank of Long Beach through our platform. From financial reports to new product launches and community events, we provide comprehensive coverage to keep stakeholders informed.
Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) reported its Q3 2022 results, showing resilience despite a challenging interest rate environment. Total assets grew to $11.9 billion, with net loans increasing to $6.4 billion and total deposits rising to $9.4 billion since December 31, 2021. Interest and dividend income reached $88 million, a rise from $79.6 million in Q3 2021. However, net income fell to $26.6 million ($209.64 per diluted share) from $30.5 million ($238.07) last year. The bank's capital ratios remain strong, with a total risk-based capital ratio of 16.61%.
Farmers & Merchants Bank of Long Beach (OTC-PINK: FMBL) has approved a quarterly cash dividend of $28 per share, payable on September 30, 2022, to shareholders on record as of September 15, 2022. This announcement marks the 518th dividend payment since the bank's establishment, with a continuous payment history dating back to 1916. The bank has maintained its quarterly dividend at the same level without any reductions, highlighting its financial stability and commitment to shareholder return.
Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) reported strong financial results for Q2 and the first half of 2022, with total assets rising to $11.73 billion and net loans increasing to $5.78 billion. Total interest income grew to $81.2 million, while net income for Q2 reached $29.1 million, or $228.51 per diluted share. However, net interest margin decreased to 2.76% from 2.96% year-over-year. Non-interest income also declined, totaling $4.7 million. The bank repurchased shares under its stock buyback program, enhancing shareholder value amidst economic uncertainties.
Farmers & Merchants Bank of Long Beach (OTCQX: FMBL) has announced a quarterly cash dividend of $28 per share, payable on June 30, 2022, to shareholders on record as of June 15, 2022. This marks the bank's 517th dividend payment since its inception in 1916, highlighting its commitment to consistent shareholder returns. Notably, the value of the dividend has never decreased, reflecting the bank's financial stability and growth trajectory.
Farmers & Merchants Bank of Long Beach (FMBL) reported strong first-quarter 2022 results, reinforcing its financial stability amid challenging economic conditions. Net income rose to $27.8 million, or $217.02 per diluted share, up from $25.3 million in Q1 2021. Total assets reached a record of $11.67 billion, with total deposits increasing to $9.36 billion. The bank’s net interest income was $72.6 million, a growth from $70.5 million. A loan loss provision recapture of $1.0 million was noted, alongside a solid capital position with a total risk-based capital ratio of 18.67%.
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.
Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) has announced the election of Stephen Cooke to its board of directors, taking over from Richard Darling, who retired after 40 years. Cooke, an experienced corporate advisor and law practitioner, will serve on the Risk and Compliance Committee and the Nominations and Corporate Governance Committee. With a rich background in law and community service, his addition is seen as a positive step for the bank. Lawrence McLaughlin succeeds Darling as the Lead Independent Director.
Farmers & Merchants Bank of Long Beach (FMBL) reported a strong financial performance for 2021, ending with record total deposits of $9.24 billion and net loans of $5.37 billion. The bank's total interest income rose to $307.3 million, up from $286.3 million in 2020. Net income for 2021 increased to $115.2 million or $898.31 per diluted share, compared to $79.8 million in 2020. The Board has authorized a new $20 million stock repurchase program, reflecting confidence in the bank's long-term prospects.
Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) has announced a regular quarterly cash dividend of
Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) reported a significant rise in net income to $30.5 million for Q3 2021, up from $19.9 million in Q3 2020. Total assets reached a record $11.3 billion, with total deposits increasing to $8.9 billion. The net interest income also improved to $76.7 million, driven by higher interest and dividend income of $79.6 million. The bank maintained robust capital ratios, with a total risk-based capital ratio of 18.86%. Notably, it realized a $1.0 million recapture of loan loss provision, contrasting the previous year’s $3.0 million provision.
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