Farmers & Merchants Bancorp (FMCB) Reports Record Quarterly Results
Key Highlights
- ➤Net income $25.1 million, up 5.75% year over year, sets another quarterly record
- ➤Diluted EPS $36.75, up 8.34% from the third quarter of 2025
- ➤Loans and leases grew $136.0 million to $3.74 billion year over year
- ➤Net interest income $58.3 million, up 5.25%, with margin rising to 4.24%
- ➤Capital ratios strengthened, including 16.39% preliminary total risk-based capital
Expert Statements
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“We are very pleased with the Company’s financial performance in the third quarter of 2026 highlighted by another record quarter with net income of $25.1 million and a return on average assets of 1.75% and return on average equity of 14.74%.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“We achieved these impressive results while continuing to maintain a strong liquidity position and balance sheet at quarter-end with $172.0 million in cash, $1.5 billion in investment securities of which $862.5 million were available-for-sale, no borrowings and access to $2.1 billion in borrowing capacity.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“Capital levels continued to strengthen and were significantly above the regulatory thresholds for “well-capitalized” banks at quarter-end.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“We experienced solid loan growth of $40.5 million during the quarter compared to the second quarter of 2026 and loan growth of $136.0 million when compared to September 30, 2025.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“Deposits increased $85.0 million compared to September 30, 2025 as we continued our focus on growing deposits with both our longstanding established client relationships while developing new client relationships.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“We had no brokered deposits as of September 30, 2026 compared to $80 million as of June 30, 2026 and zero as of September 30, 2025.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“Overall credit quality remained resilient during the third quarter of 2026.”
Kent Steinwert, Chairman, President and Chief Executive Officer of Farmers & Merchants Bancorp
“Our Company remains in excellent financial condition at quarter-end and should be well positioned to navigate the challenges ahead as we have for the past 110 years.”
Third Quarter 2026 Highlights * Net income of $25.1 million, up $1.4 million or 5.75% compared to the third quarter of 2025; resulting in basic earnings per common share of $37.21 and diluted earnings per common share of $36.75, up 8.34% compared to the third quarter of 2025; * Achieved an annualized return on average assets of 1.75% and return on average equity of 14.74%; * Basic earnings per common share of $144.68 over the trailing twelve months, up 10.20% from $131.29 over the trailing period a year ago and up 22.13% versus $118.46 for the same period two years ago; * Tangible book value per common share increased 6.27% to $932.14 compared to $877.13 as of September 30, 2025; * Net interest income of $58.3 million, up $2.9 million, or 5.25%, compared to the third quarter of 2025; net interest margin (tax equivalent basis) of 4.24%, up from 4.16% in the third quarter of 2025; * Total loans and leases grew $136.0 million, or 3.77%, to $3.74 billion, and deposits grew $85.0 million, or 1.74%, to $5.0 billion as of September 30, 2026 compared to September 30, 2025; * Capital position strengthened with a preliminary total risk-based capital ratio of 16.39%, common equity tier 1 ratio of 14.91%, tier 1 leverage ratio of 12.05% and a tangible common equity ratio of 11.45%; * Credit quality remained resilient during the quarter with an allowance for credit losses on gross loans and leases of 2.06%; net charge offs for the quarter of $1.4 million, a provision for credit losses of $1.5 million and non-accrual loans and leases of $4.6 million at quarter-end. LODI, Calif., Oct. 20, 2026 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported record third quarter net income of $25.1 million, up 5.75% from $23.7 million in the third quarter of 2025. Diluted earnings per common share was $36.75 for the third quarter, up 8.34% when compared with $33.92 per diluted common share for the third quarter of 2025. The annualized return on average assets was 1.75% and return on average equity was 14.74% for the third quarter of 2026. Tangible book value per common share increased to $932.14 at September 30, 2026, up 6.27% compared with $877.13 as of September 30, 2025.
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