FARMERS & MERCHANTS BANCORP INC

Listed Company

FMAOCIK 0000792966NasdaqAcceleratedSavings Institution, Federally CharteredOhioFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$33.31M

Total Assets

$3.43B

Equity

$370.86M

Shares Out

13.77M

Op. Cash Flow

$36.74M

FMAO$30.52+17.29% · past yearDBEQ Basic

Daily closing prices

Business

FARMERS & MERCHANTS BANCORP INC is a bank holding company that provides commercial banking and related financial services through its subsidiaries. The company’s primary products and services include commercial, agricultural and consumer lending, residential mortgage loans, deposit accounts, online and mobile banking, ATM/ITM services, custodial IRAs and HSAs, investment brokerage services, and insurance products. It operates through its primary banking subsidiary, a brokerage/investment services unit, and an insurance agency. The company serves communities in Northwest Ohio, Northeast Indiana and Southeast Michigan via branch offices, five loan production offices, ATMs/ITMs and digital channels.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	159	145	129	94	72
U.S. Treasury and government agencies	9	6	4	4	3
Municipalities	1	2	2	1	1
Dividends	1	1	882,000	318,000	174,000
Federal funds sold	0	45,000	44,000	21,000	31,000
Other	3	10	4	906,000	324,000
Total interest income	174	164	140	101	77
Deposits	58	64	47	10	5
Federal funds purchased and securities sold under agreements to repurchase	1	1	1	1	649,000
Borrowed funds	9	11	9	2	785,000
Subordinated notes	1	1	1	1	490,000
Total interest expense	69	78	58	14	—
Net Interest Income - Before Provision for Credit Losses	104	86	81	87	69
Provision for Credit Losses - Loans	3	944,000	2	5	—
Provision for (Recovery of) Credit Losses - Off Balance Sheet Credit Exposures	−506,000	−671,000	46,000	0	—
Net Interest Income After Provision for Credit Losses	102	86	80	82	66
Interchange income	5	5	5	5	—
Loan servicing income	3	3	4	2	—
Net gain on sale of loans	1	859,000	699,000	1	4
Increase in cash surrender value of bank owned life insurance	1	965,000	834,000	691,000	—
Net gain (loss) on sale of other assets owned	−41,000	71,000	−135,000	259,000	434,000
Net loss on sale of available-for-sale securities	0	0	−891,000	—	293,000
Total consolidated noninterest income	17	16	16	16	18
Salaries and wages	32	30	27	23	20
Employee benefits	9	9	8	7	7
Net occupancy expense	4	4	4	3	2
Furniture and equipment	6	5	5	4	3
Data processing	4	1	3	4	4
Franchise taxes	2	2	1	1	1
ATM expense	3	2	3	2	2
Advertising	2	2	3	2	1
FDIC assessment	2	2	2	905,000	1
Servicing rights amortization - net	2	818,000	611,000	145,000	2
Loan expense	1	960,000	1	1	—
Consulting fees	2	877,000	832,000	1	—
Professional fees	2	2	1	1	2
Intangible asset amortization	2	2	2	1	—
Other general and administrative	6	5	6	6	8
Total noninterest expense	77	69	67	58	54
Net income before income taxes	43	33	28	40	29
Income Taxes	9	7	6	8	6
Net Income	33	26	23	33	23
Basic Earnings Per Share	2.43	1.9	1.67	2.46	2.01
Diluted Earnings Per Share	2.43	1.9	1.67	2.46	2.01
Dividends Declared	0.9	0.88	0.85	0.81	0.71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	97	175	141	83	135
Federal funds sold	469,000	1	1	1	45
Total cash and cash equivalents	98	176	142	84	181
Interest-bearing time deposits	1	2	3	4	11
Securities - available-for-sale	422	427	358	391	430
Other securities, at cost	13	14	17	10	8
Loans held for sale	4	3	2	827,000	8
Loans, net of allowance for credit losses of $27,688 and $25,826	2,686	2,536	2,556	—	—
Premises and equipment	32	34	36	28	27
Goodwill	86	86	86	86	80
Loan servicing rights	5	6	6	4	3
Bank owned life insurance	47	35	34	33	28
Other assets	39	45	43	37	21
Total Assets	3,434	3,365	3,283	3,015	2,638
Noninterest-bearing	527	517	528	533	474
NOW accounts	876	850	817	751	650
Savings	729	672	599	627	598
Time	598	648	663	558	471
Total deposits	2,731	2,687	2,607	2,469	2,193
Federal funds purchased and securities sold under agreement to repurchase	38	27	28	54	29
Federal Home Loan Bank (FHLB) advances	227	246	266	127	24
Subordinated notes, net of unamortized issuance costs	35	35	35	35	34
Dividend payable	3	3	3	3	2
Accrued expenses and other liabilities	30	32	28	19	17
Total liabilities	3,064	3,030	2,967	2,717	2,341
Commitments and Contingencies	—	—	—	—	—
Common stock - No par value authorized 40,000,000 shares 12/31/25 and 20,000,000 shares 12/31/24; issued 14,564,425 shares 12/31/25 and 12/31/24; outstanding 13,748,074 shares 12/31/25 and 13,699,536 shares 12/31/24	136	136	136	135	123
Treasury stock - 816,351 shares 12/31/25 and 864,889 shares 12/31/24	−11	−11	−11	−12	−12
Retained earnings	258	236	221	212	189
Accumulated other comprehensive loss	−12	−25	−29	−38	−3
Total stockholders' equity	371	335	317	298	297
Total Liabilities and Stockholders' Equity	3,434	3,365	3,283	3,015	2,638

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	33	26	23	33	23
Depreciation	4	4	3	3	3
Amortization of premiums on available-for-sale securities, net	37,000	1	2	2	2
Capitalized additions to servicing rights	−1	−826,000	−3	−537,000	−1
Amortization of core deposit intangible	2	2	2	1	677,000
Amortization of customer list intangible	123,000	123,000	123,000	123,000	123,000
Net accretion of fair value adjustments	−2	−3	−4	−5	−1
Amortization of subordinated note issuance costs	115,000	116,000	116,000	115,000	50,000
Stock-based compensation expense	1	1	1	899,000	822,000
Director stock awards	189,000	188,000	180,000	120,000	73,000
Deferred income taxes	−126,000	307,000	2	171,000	−2
Originations of loans held for sale	−63	−54	−36	−69	−121
Proceeds from sale of loans held for sale	63	52	36	78	125
Gain on derivatives	−66,000	−59,000	−40,000	0	—
Increase in cash surrender value of bank owned life insurance	−1	−965,000	−834,000	−691,000	−636,000
Change in other assets and other liabilities, net	−1	4	−7	−5	5
Net cash provided by operating activities	37	32	22	41	35
Maturities, prepayments and calls	70	35	24	31	56
Sales	1	0	22	0	9
Purchases	−50	−99	−4	−38	−171
Purchases	0	0	−698,000	−2	−670,000
Purchases of FHLB stock	−3	−2	−8	—	—
Proceeds from redemption of FHLB stock	4	2	2	1	2
Purchase of bank owned life insurance	−18	0	0	—	—
Proceeds from bank owned life insurance	7	0	0	—	—
Change in interest-bearing time deposits	984,000	258,000	2	6	20
Proceeds from sale of other assets owned	170,000	92,000	219,000	440,000	—
Additions to premises and equipment	−2	−2	−11	−3	−2
Net (increase) decrease on loan originations and principal collections	−150	21	−219	−396	−168
Net cash (used in) provided by investing activities	−139	−44	−194	−390	−266
Net change in deposits	44	79	139	166	171
Net change in federal funds purchased and securities sold under agreements to repurchase	11	−1	−26	25	−971,000
Proceeds of FHLB advances	40	15	324	140	—
Repayment of FHLB advances	−59	−35	−186	−37	−157,000
Purchase of treasury stock	−362,000	−664,000	−218,000	−308,000	−338,000
Cash dividends paid on common stock	−12	−12	−11	−10	−8
Net cash used in financing activities	23	46	230	253	236
Net (Decrease) Increase in Cash and Cash Equivalents	−79	34	58	−96	5
Interest paid	70	76	55	14	7
Federal income taxes paid	9	3	5	—	—
State income taxes paid	202,000	100,000	521,000	—	—
Transfer of loans to other real estate owned	150,000	0	0	—	—
Transfer of loans to other real estate owned	0	932,000	0	0	—
Cash dividends declared not paid	3	3	3	3	2

Filings

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Frequently asked questions

What is FARMERS & MERCHANTS BANCORP INC's CIK number?

FARMERS & MERCHANTS BANCORP INC's SEC CIK number is 0000792966 (792966). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find FARMERS & MERCHANTS BANCORP INC's SEC filings?

All of FARMERS & MERCHANTS BANCORP INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did FARMERS & MERCHANTS BANCORP INC last report earnings?

FARMERS & MERCHANTS BANCORP INC (FMAO) most recently filed an earnings 8-K with the SEC on Apr 22, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-170660). This is FARMERS & MERCHANTS BANCORP INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is FARMERS & MERCHANTS BANCORP INC's most recent earnings 8-K?

FARMERS & MERCHANTS BANCORP INC's latest earnings 8-K (Item 2.02) was filed Apr 22, 2026 under accession 0001193125-26-170660. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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