FRMRS&MER BNCORP LODI CA - FMCB STOCK NEWS

Farmers & Merchants Bancorp (FMCB) declares a year-end cash dividend of $8.80 per share, up 6.02% from May 2023. Total cash dividends for 2023 increased 5.88% to $17.10 per share. The company's net income rose by 25.83% to $114.13 per share, resulting in a 15.0% dividend payout ratio. Additionally, the company repurchased and retired 17,126 shares, focusing on shareholders' ownership percentage. The Chairman, President, and CEO highlighted the record financial performance in 2023, with net income reaching $66.9 million for the nine months ended September 30, 2023, representing a 21.5% increase over the same period in 2022. Asset quality and liquidity remained strong, with a tier 1 leverage capital ratio of 10.22% and a CET1 ratio of 12.48% at September 30, 2023.

Farmers & Merchants Bancorp reports strong financial performance in Q3 2023 with net income of $22.0 million and record year-to-date net income of $66.9 million.

Farmers & Merchants Bancorp (FMCB) reported record net income of $23.5 million for Q1 2023, translating to $30.80 per share, up from $17.1 million in Q1 2022. The company achieved a return on average assets of 1.80% and return on average equity of 18.93%. Key highlights include strong liquidity with $529.6 million in cash and no outstanding borrowings, alongside a total risk-based capital ratio of 13.68%. Although customer deposits saw a slight decline of 4.62% due to seasonal factors, the loan portfolio grew by 5.85% year-over-year. The company's credit quality remained strong with a robust allowance for credit losses of 1.99%. Noninterest income included $4.3 million from a BOLI benefit, though offset by a $5.7 million loss from securities sales.

Farmers & Merchants Bancorp (OTCQX: FMCB) reported record net income of $75.1 million, or $96.55 per share for 2022, reflecting a 14.93% increase from 2021. Total assets rose to $5.3 billion, with loans held for investment growing 10.7% to $3.5 billion. The bank's return on average assets improved to 1.41%, and return on average equity reached 16.04%. However, the company recorded $10.7 million in losses from the sale of investment securities and a drop in NSF fees. Despite these challenges, non-performing loans remained low at 0.02%. FMCB's net interest margin rose to 4.45%.

The Board of Directors of Farmers & Merchants Bancorp (OTCQX: FMCB) has announced an extension of its share repurchase program through December 31, 2024, with an additional $20 million authorized for repurchases. Since November 2021, the company has repurchased and retired 18,824 shares, valued at $17.9 million, representing 2.38% of total shares outstanding. The company's capital ratios remain strong, with a tier 1 leverage capital ratio of 9.12% and a total capital ratio of 13.32%, classifying it as 'well capitalized'.

Farmers & Merchants Bancorp (OTCQX: FMCB) has declared a year-end cash dividend of $8.30 per share, marking a 6.41% increase from 2021. The dividend will be paid on January 3, 2023 to shareholders of record by December 7, 2022. In 2022, total cash dividends were $16.15 per share, up 5.56%. The company reported record net income of $19.5 million for Q3 2022, with earnings per share of $25.20, a 13.7% increase year-over-year. Farmers & Merchants Bancorp remains well-capitalized with a tier 1 leverage capital ratio of 9.12%.