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Farmers & Merchants Bancshares, Inc.

CIK: 1698022 SIC: 6036
$20.84M
Net Interest Income
$4.28M
Net Income
74.9%
Efficiency Ratio
2.47%
Net Int. Margin
8.2%
ROE
Financial Statements Annual (10-K)
Showing 9 of 9 annual reports available (2017 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
Interest Income $42.35M $42.35M $38.36M $31.32M $26.27M $25.68M $20.76M $18.70M $17.77M $16.59M
Interest Expense $17.96M $17.96M $17.53M $9.91M $2.15M $2.81M $3.46M $3.68M $2.51M $1.71M
Net Interest Income $24.39M $24.39M $20.84M $21.42M $24.12M $22.88M $17.30M $15.02M $15.26M $14.89M
Provision for Credit Losses $698.00K $698.00K $150.00K $-570.00K $475.00K - - - - -
Net Interest Income After Provision $23.69M $23.69M $20.69M $21.99M $23.65M $22.55M $16.68M $14.98M $14.79M $14.48M
Non-Interest Income $1.98M $1.98M $1.75M $1.59M $2.29M $2.17M $2.07M $1.49M $1.37M $1.34M
Other Non-Interest Income - - - - $303.30K $307.51K $273.10K - - -
Non-Interest Expense $18.30M $18.30M $16.93M $15.14M $15.37M $14.13M $15.58M $10.88M $10.33M $10.02M
Compensation & Benefits $8.72M $8.72M $7.85M $7.54M $7.87M $7.21M $6.14M $5.47M $5.19M $4.93M
Occupancy Expense $1.17M $1.17M $1.07M $874.77K $890.93K $948.76K $758.36K $771.92K $706.19K $684.17K
Technology & Equipment $1.61M $1.61M $1.29M $983.13K $891.25K $775.83K $840.89K $614.54K $632.33K $644.58K
Professional Fees $738.00K $738.00K $865.00K $642.37K $894.72K $415.64K $424.81K - - -
Other Non-Interest Expense $2.12M $2.12M $2.02M $1.95M $1.86M $1.97M $2.95M $2.66M $2.49M $2.47M
Income Before Tax $7.37M $7.37M $5.51M $8.44M $10.58M $10.58M $3.17M - - -
Income Tax Expense $1.61M $1.61M $1.23M $2.02M $2.49M $2.43M $487.21K $1.04M $1.11M $2.00M
Net Income $5.77M $5.77M $4.28M $6.42M $8.09M $8.15M $2.68M $4.56M $4.71M $3.79M
Basic EPS nan 1.81 1.37 2.08 2.66 2.70 nan nan nan nan
Diluted EPS nan 1.81 1.37 2.08 2.66 nan nan nan nan nan
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
Cash & Due from Banks $46.11M $63.96M $44.40M $6.41M $25.26M $39.90M $6.66M $11.48M $6.24M
Interest-Bearing Deposits $566.00K $697.00K - - - - - - -
Investment Securities - AFS $118.73M $125.71M $164.08M $126.31M $149.24M $54.48M $36.53M $26.59M $27.93M
Investment Securities - HTM $21.05M $20.50M - $20.51M $21.85M $23.08M $19.51M $18.13M $18.20M
Loans & Leases (Gross) $638.34M $587.96M - - - - - - -
Allowance for Loan Losses - $4.26M $4.29M $4.15M $3.65M - - - -
Loans & Leases (Net) $633.14M $582.99M - $516.92M $482.01M $521.69M $359.38M $340.90M $332.53M
Goodwill & Intangibles $6.98M $6.98M - - - - - - -
Premises & Equipment $7.14M $7.35M $6.58M $6.19M $6.26M $7.74M $5.04M $5.08M $5.21M
Other Assets $7.30M $8.16M $5.94M $5.59M $5.52M $2.34M $2.18M $657.88K $622.86K
Total Assets $871.96M $844.64M $799.94M $718.21M $716.68M $677.32M $442.22M $417.16M $402.90M
Total Deposits $720.46M $758.81M $680.96M $623.61M $626.41M $573.40M $376.61M $354.71M $319.80M
Long-term Debt $12.04M $11.33M $13.21M $15.10M $16.98M $16.97M - - -
Other Liabilities $6.51M $6.67M $7.34M $6.20M $5.95M $5.05M $4.84M $2.73M $2.36M
Total Liabilities $807.30M $788.37M $747.76M $670.44M $660.06M $625.59M $392.76M $371.76M $361.11M
Common Stock $32.00K $32.00K $31.17K $30.71K $30.37K $30.11K $29.74K $16.83K $16.68K
Retained Earnings $45.21M $41.61M $39.43M $35.30M $29.13M $22.70M $21.57M $18.62M $15.31M
AOCI $-12.73M $-16.51M $-17.68M $-17.11M $-1.39M $706.28K $42.62K $-568.30K $-394.17K
Total Stockholders Equity $64.66M $56.27M $52.18M $47.77M $56.62M $51.73M $49.45M $45.39M $41.80M
Total Liabilities & Equity $871.96M $844.64M $799.94M $718.21M $716.68M $677.32M $442.22M $417.16M $402.90M
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
Net Income $6.93M $5.77M $4.28M $6.42M $8.09M $8.15M $2.68M $4.56M $4.71M $3.79M
Depreciation & Amortization - $578.00K $559.00K - - - - - - -
Deferred Taxes - $-89.00K $257.00K $392.17K $-250.67K $-160.07K $151.33K $-53.84K $-111.36K $-347.45K
Stock-based Compensation $493.00K $172.00K $18.00K $42.79K - - - - - -
Net Change in Loans HFS - - - - - - $51.09M $-331.64K $245.94K $-556.80K
Operating Cash Flow $8.54M $6.05M $2.29M $5.90M $7.16M $11.70M $4.45M $5.72M $5.36M $7.91M
Purchases of Securities $1.02M $1.02M $3.27M $49.74M $19.19M $129.68M $28.84M $17.76M $4.01M $1.13M
Sales of Securities - - $23.89M - - - $2.02M - - -
Maturities of Securities $24.21M $13.26M $18.07M $12.91M $19.99M $31.33M $22.22M $8.51M $4.94M $6.85M
Acquisitions - - - - - - $19.37M - - -
Investing Cash Flow $-83.92M $-41.50M $-22.71M $-42.36M $-35.36M $-58.98M $-45.70M $-29.04M $-7.21M $-32.65M
Long-term Debt Issued - - - - - - $16.97M - - -
Long-term Debt Repaid - - $1.89M $1.89M $1.89M - - - - -
Dividends Paid - $1.33M $1.38M $1.24M $1.23M $1.16M $1.07M $1.02M $933.90K $953.52K
Financing Cash Flow $-17.94M $17.47M $40.39M $73.88M $9.00M $32.77M $73.10M $17.82M $9.23M $18.67M
Net Change in Cash $-93.32M $-17.98M $19.97M $37.43M $-19.20M $-14.51M $31.85M $-5.50M $7.38M $-6.08M
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Interest Expense $4.61M $4.76M $13.83M $11.60M
Income Before Tax $2.17M $1.47M $5.13M $4.41M
Income Tax Expense $462.00K $342.00K $1.06M $993.00K
Net Income $1.71M $1.12M $4.07M $3.42M
Basic EPS 0.53 0.36 1.28 1.09
Diluted EPS 0.53 0.36 1.28 1.09
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Property Plant & Equipment $7.22M $7.35M
Total Assets $869.63M $844.64M
Long-term Debt $12.02M $11.33M
Total Liabilities $806.47M $788.37M
Common Stock $32.00K $32.00K
Retained Earnings $44.60M $41.61M
Total Stockholders Equity $63.16M $56.27M
Total Liabilities & Equity $869.63M $844.64M
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $1.71M $1.12M $4.07M $3.42M
Stock-based Compensation - - $168.00K $14.00K
Operating Cash Flow - - $4.73M $2.45M
Capital Expenditure - - $305.00K $1.28M
Sales of Investments - - $10.16M $14.17M
Investing Cash Flow - - $-34.62M $-38.19M
Dividends Paid - - $665.00K $603.00K
Financing Cash Flow - - $17.41M $7.89M
Net Change in Cash - - $-12.47M $-27.85M

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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