On October 16, 2025, Farmers & Merchants Bancorp (FMCB) announced record third‑quarter net income of $23.7 million, or $33.92 per diluted share, the highest quarterly net income in the company’s history. The company also reported a return on average assets of 1.70 % and a return on average equity of 15.10 %. The expense‑efficiency ratio for the quarter was 46.48 %, down from 47.63 % in the same period last year.
Total net income for the nine‑month period ended September 30, 2025 was $91.6 million, up from $88.0 million a year earlier, while diluted earnings per share over the trailing twelve months reached $130.83, an increase of 10.4 % from the prior year. The company’s net interest income for the quarter rose to $55.4 million, up from $52.0 million in Q3 2024, and the nine‑month net interest margin increased to 4.14 % from 4.04 %.
At quarter‑end, FMCB held $172.6 million in cash and cash equivalents and $1.6 billion in investment securities, of which $870.2 million were available‑for‑sale. Total assets were $5.6 billion, up from $5.4 billion at the end of 2024, and total deposits increased $185.9 million to $4.9 billion, resulting in a loan‑to‑deposit ratio of 74.16 %.
Credit quality remained strong, with only $1.0 million in non‑accrual loans and a delinquency ratio of 0.03 %. Net charge‑offs for the quarter were $0.9 million, and the allowance for credit losses stood at $78.8 million. Capital ratios were robust, with a preliminary risk‑based capital ratio of 15.76 % and a common equity tier 1 ratio of 14.28 %. The company also repurchased 2,540 shares during the quarter and paid $3.6 million in dividends.
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