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Farmers & Merchants Bancorp (FMCB) Reports Record Third Quarter 2024 Earnings

FRMRS&MER BNCORP LODI CA (FMCB) 
NASDAQ:AMEX Investor Relations: farmers.com
Company Research Source: GlobeNewswire
Third Quarter 2024 Highlights Record net income of $22.1 million, or $29.96 per share; up 2.50% on a per share basis from third quarter 2023;Achieved a return on average assets of 1.65% and a return on average equity of 15.03%;Solid liquidity position with $1.5 billion in cash and investment securities and a borrowing capacity of $2.1 billion with no outstanding borrowings as of September 30, 2024;Continued growth in capital with a total risk-based capital ratio of 14.95%, common equity tier 1 ratio of 13.47%, tier 1 capital ratio of 13.70% and a tangible common equity ratio of 10.91%;Credit quality remains strong with a total allowance for credit losses of 2.11%. LODI, Calif., Oct. 16, 2024 (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 $22.1 million, or $29.96 per diluted common share for the third Show less Read more
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