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Stock impact report

Farmers & Merchants Bancorp, Inc. Reports 2024 Third-Quarter and Year-to-Date Financial Results [Yahoo! Finance]

Farmers & Merchants Bancorp, Inc. (FMAO) 
NASDAQ:AMEX Investor Relations: farmers.com
Company Research Source: Yahoo! Finance
2024 Third Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 86 consecutive quarters of profitability Net income increased 36.4% to $6.5 million, or $0.48 per basic and diluted share, from $4.8 million, or $0.35 per basic and diluted share, and net income expanded 14.7% from the 2024 second quarter Net interest margin increased 12 basis points to 2.71% Efficiency ratio improved to 67.98%, compared to 73.07% for the same period a year ago, and 69.03% for the 2024 second quarter Total net loans remain stable at $2.54 billion at September 30, 2024 Total assets increased 4.8% to a record $3.39 billion Deposits increased 4.3% to a record $2.68 billion Stockholders' equity increased 10.6% to a record $335.4 million Asset quality remains at historically strong levels with nonperforming loans of only $2.9 million at September 30, 2024, compared to $22.4 million at September 30, 2023 Allowance for credit losses was 879.37% of nonperformin Show less Read more
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