Farmers & Merchants Bancorp (FMCB)

FMCB Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	223.76	223.27	204.48	164.02	147.21	143.38
Interest Income on Investments	48.71	48.71	49.27	34.39	18.06	15.91
Total Interest Income	272.47	271.98	253.75	198.41	165.27	159.29
Interest Paid on Deposits	62.51	63.44	37.52	4.35	4.02	9.11
Interest Paid on Borrowings	1.86	1.86	0.85	0.49	0.32	0.38
Total Interest Expense	64.37	65.3	38.37	4.84	4.33	9.49
Net Interest Income	208.1	206.68	215.39	193.57	160.94	149.8
Net Interest Income Growth (YoY)	-1.55%	-4.04%	11.27%	20.28%	7.43%	5.92%
Gain (Loss) on Sale of Investments	0.74	0.74	-8.2	-10.69	2.55	0.04
Other Non-Interest Income	13.58	13.63	17.38	13.62	12.92	12.38
Total Non-Interest Income	17.38	17.43	11.94	5.73	18.44	15.05
Non-Interest Income Growth (YoY)	28.19%	45.98%	108.49%	-68.95%	22.51%	-7.80%
Revenues Before Loan Losses	225.48	224.11	227.33	199.3	179.38	164.86
Provision for Loan Losses	0.3	-	9.41	6.45	1.91	4.5
Revenue	225.18	224.11	217.92	192.85	177.47	160.36
Revenue Growth (YoY)	3.76%	2.84%	13.00%	8.67%	10.67%	1.78%
Salaries and Employee Benefits	72.47	72.47	70.88	64.25	63.86	56.95
Occupancy Expenses	-	-	-	-	-	3.81
Federal Deposit Insurance	2.85	2.85	2.77	1.77	1.5	0.52
Selling, General & Administrative	16.7	16.7	14.35	13.47	12.09	6.88
Other Non-Interest Expense	9.83	9.84	13.36	13.62	11.7	14.26
Total Non-Interest Expense	101.85	101.86	101.37	93.11	89.15	82.41
EBT Excluding Unusual Items	123.33	122.24	116.55	99.74	88.32	77.95
Pretax Income	123.33	122.24	116.55	99.74	88.32	77.95
Income Tax Expense	34.59	33.79	28.24	24.65	21.99	19.22
Net Income	88.74	88.46	88.31	75.09	66.34	58.73
Net Income to Common	88.74	88.46	88.31	75.09	66.34	58.73
Net Income Growth	1.43%	0.16%	17.61%	13.20%	12.94%	4.81%
Basic Shares Outstanding	1	1	1	1	1	1
Diluted Shares Outstanding	1	1	1	1	1	1
Shares Change (YoY)	-4.25%	-3.49%	-2.62%	-1.51%	-0.46%	0.78%
EPS (Basic)	123.26	121.02	116.61	96.55	84.01	74.03
EPS (Diluted)	123.24	121.02	116.61	96.55	84.01	74.03
EPS Growth	5.94%	3.78%	20.78%	14.93%	13.48%	4.00%
Dividend Per Share	18.100	18.100	17.100	16.150	15.300	14.750
Dividend Growth	5.85%	5.85%	5.88%	5.56%	3.73%	3.87%
Effective Tax Rate	28.04%	27.64%	24.23%	24.71%	24.89%	24.65%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.