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Stock impact report

Farmers & Merchants Bancorp, Inc. Reports 2024 Fourth-Quarter and Full-Year Financial Results

Farmers & Merchants Bancorp, Inc. (FMAO) 
NASDAQ:AMEX Investor Relations: farmers.com
Company Research Source: GlobeNewswire
ARCHBOLD, Ohio, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2024 fourth quarter and twelve months ended December 31, 2024. 2024 Fourth Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 87 consecutive quarters of profitabilityNet income increased 51.2% to $8.4 million, or $0.61 per basic and diluted share, from $5.5 million, or $0.41 per basic and diluted shareAsset quality remains at historically strong levels with nonperforming loans of only $3.1 million at December 31, 2024, compared to $22.4 million at December 31, 2023Net charge-offs to average loans were 0.00%Allowance for credit losses was 826.70% of nonperforming loansTier 1 leverage ratio was 8.12%Net interest margin increased 27 basis points to 2.84%Efficiency ratio improved to 59.82%, compared to 69.23% for the same period a year ago 2024 Full-Year Financial Highlights Include (on a year-over-year basis unl Show less Read more
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