Farmers & Merchants Bancorp Inc

NASDAQ:FMAOUnited States

Oct 30, 2024

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• Farmers & Merchants Bancorp, Inc. Reports 2024 Third-Quarter and Year-to-Date Financial Results, from 6:25PM ET on Wednesday Oct 30, 2024 by Dow Jones

  6:25PM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: FMAO
  deposits $1,487,809 $ 30,291 2.71% $1,373,110 $ 18,854 1.83% Other time deposits 662,129 18,423 3.71% 620,071 13,054 2.81% Other borrowed money 264,310 8,235 4.15% 204,927 6,134 3.99% Fed funds purchased & securities sold under agreement to repurchase 27,887 837 4.00% 37,649 1,181 4.18% Subordinated notes 34,741 853 3.27% 34,625 853 3.28% --------- ---- -------------- --------- ---- -------------- Total Interest Bearing Liabilities $2,476,876 $ 58,639 3.16% $2,270,382 $ 40,076 2.35% ==== ============== ====== === ==== ============== ====== === Noninterest Bearing Liabilities 507,843 561,001 Stockholders' Equity $ 321,545 $ 305,606 ========= --------- Net Interest Income and Interest Rate Spread $ 63,082 2.01% $ 61,462 2.22% ==== ============== ====== === ==== ============== ====== === Net Interest Margin 2.68% 2.77% ====== === ====== === Yields on Tax exempt securities and the portion of the tax-exempt IDB loans included in loans have been tax adjusted based on a 21% tax rate in the charts FARMERS & MERCHANTS BANCORP, INC. AND SUBSIDIARIES AVERAGE BALANCE SHEETS AND RELATED YIELDS AND RATES (in thousands of dollars, except percentages) For the Three Months Ended September 30, 2024 For the Three Months Ended September 30, 2023 ---------------------------------------------------------- --------------------------------------------------------- Excluding Excluding As Reported Acc/Amort Difference As Reported Acc/Amort Difference $ Yield $ Yield $ Yield $ Yield $ Yield $ Yield -------- -------- -------- -------- ------- --------- -------- -------- ------- -------- ------- --------- Interest Earning Assets: Loans $ 36,873 5.78% $ 36,149 5.67% $ 724 0.11% $ 33,783 5.33% $32,631 5.15% $1,152 0.18% Taxable investment securities 2,107 2.03% 2,107 2.03% - 0.00% 1,559 1.58% 1,559 1.58% - 0.00% Tax-exempt investment securities 81 2.09% 81 2.09% - 0.00% 84 1.77% 84 1.77% - 0.00% Fed funds sold & other 2,840 5.76% 2,840 5.76% - 0.00% 933 4.36% 933 4.36% - 0.00% ------- ------- ----- ------- ------ ----- Total Interest Earning Assets 41,901 5.27% 41,177 5.17% 724 0.10% 36,359 4.79% 35,207 4.64% 1,152 0.15% Interest Bearing Liabilities: Savings deposits $ 10,691 2.78% $ 10,691 2.78% $ - 0.00% $ 7,673 2.24% $ 7,673 2.24% $ - 0.00% Other time deposits 6,256 3.75% 6,256 3.75% - 0.00% 5,650 3.38% 5,500 3.29% 150 0.09% Other borrowed money 2,804 4.24% 2,800 4.23% 4 0.01% 2,741 4.11% 2,759 4.14% (18) -0.03% Federal funds purchased and securities sold under agreement to repurchase 277 4.03% 277 4.03% - 0.00% 349 4.09% 349 4.09% - 0.00% Subordinated notes 284 3.27% 284 3.27% - 0.00% 284 3.28% 284 3.28% - 0.00% ------- ------- ----- ------- ------ ----- Total Interest Bearing Liabilities 20,312 3.21% 20,308 3.21% 4 0.00% 16,697 2.82% 16,565 2.80% 132 0.02% Interest/Dividend income/yield 41,901 5.27% 41,177 5.17% 724 0.10% 36,359 4.79% 35,207 4.64% 1,152 0.15% Interest Expense / yield 20,312 3.21% 20,308 3.21% 4 0.00% 16,697 2.82% 16,565 2.80% 132 0.02% ------- ---- ------- ---- ----- ----- ------- ---- ------ ---- ----- ----- Net Interest Spread 21,589 2.06% 20,869 1.96% 720 0.10% 19,662 1.97% 18,642 1.84% 1,020 0.13% Net Interest Margin 2.71% 2.62% 0.09% 2.59% 2.46% 0.13% For the Nine Months Ended September 30, 2024 For the Nine Months Ended September 30, 2023 ---------------------------------------------------------- --------------------------------------------------------- Excluding Excluding As Reported Acc/Amort Difference As Reported Acc/Amort Difference $ Yield $ Yield $ Yield $ Yield $ Yield $ Yield -------- -------- -------- -------- ------- --------- -------- -------- ------- -------- ------- --------- Interest Earning Assets: Loans $108,666 5.66% $106,588 5.55% $2,078 0.11% $ 94,851 5.12% $92,364 4.99% $2,487 0.13% Taxable investment securities 5,575 1.87% 5,575 1.87% - 0.00% 4,544 1.53% 4,544 1.53% - 0.00% Tax-exempt investment securities 249 2.03% 249 2.03% - 0.00% 277 1.88% 277 1.88% - 0.00% Fed funds sold & other 7,231 5.84% 7,231 5.84% - 0.00% 1,866 3.67% 1,866 3.67% - 0.00% ------- ------- ----- ------- ------ ----- Total Interest Earning Assets 121,721 5.17% 119,643 5.08% 2,078 0.09% 101,538 4.57% 99,051 4.47% 2,487 0.10% Interest Bearing Liabilities: Savings deposits $ 30,291 2.71% $ 30,291 2.71% $ - 0.00% $ 18,854 1.83% $18,854 1.83% $ - 0.00% Other time deposits 18,423 3.71% 18,423 3.71% - 0.00% 13,054 2.81% 13,458 2.89% (404) -0.08% Other borrowed money 8,235 4.15% 8,254 4.16% (19) -0.01% 6,134 3.99% 6,187 4.03% (53) -0.04% Federal funds purchased and securities sold under agreement to repurchase 837 4.00% 837 4.00% - 0.00% 1,181 4.18% 1,181 4.18% - 0.00% Subordinated notes 853 3.27% 853 3.27% - 0.00% 853 3.28% 853 3.28% - 0.00% ------- ------- ----- ------- ------ ----- Total Interest Bearing Liabilities 58,639 3.16% 58,658 3.16% (19) 0.00% 40,076 2.35% 40,533 2.38% (457) -0.03% Interest/Dividend income/yield 121,721 5.17% 119,643 5.08% 2,078 0.09% 101,538 4.57% 99,051 4.47% 2,487 0.10% Interest Expense / yield 58,639 3.16% 58,658 3.16% (19) 0.00% 40,076 2.35% 40,533 2.38% (457) -0.03% ------- ---- ------- ---- ----- ----- ------- ---- ------ ---- ----- ----- Net Interest Spread 63,082 2.01% 60,985 1.92% 2,097 0.09% 61,462 2.22% 58,518 2.09% 2,944 0.13% Net Interest Margin 2.68% 2.59% 0.09% 2.77% 2.64% 0.13% Company Contact: Investor and Media Contact: Lars B. Eller President and Chief Executive Andrew M. Berger Officer Farmers & Merchants Bancorp, Inc. Managing Director (419) 446-2501 leller@fm.bank SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com ----------------------------------------------- ------------------
  

• *DJ Farmers & Merchants Bncp 3Q EPS 48c >FMAO, from 6:25PM ET on Wednesday Oct 30, 2024 by Dow Jones

  6:25PM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: FMAO