Farmers & Merchants Bancorp, Inc. (FMAO)

FMAO Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest Income on Loans	158.61	145.33	129.34	94.26	71.65
Interest Income on Investments	14.93	18.24	10.46	6.89	5.2
Total Interest Income	173.54	163.57	139.81	101.15	76.84
Interest Paid on Deposits	58.18	64.46	46.92	9.88	5.42
Interest Paid on Borrowings	11.07	13.2	11.49	4.48	1.92
Total Interest Expense	69.25	77.66	58.41	14.36	7.34
Net Interest Income	104.29	85.91	81.4	86.79	69.5
Net Interest Income Growth (YoY)	21.39%	5.55%	-6.21%	24.88%	16.26%
Gain (Loss) on Sale of Investments	-	-	-0.89	-	0.29
Other Non-Interest Income	15.89	14.69	16.23	14.18	13.42
Total Non-Interest Income	17.14	15.55	16.04	15.54	17.61
Non-Interest Income Growth (YoY)	10.19%	-3.06%	3.24%	-11.77%	7.65%
Revenues Before Loan Losses	121.43	101.46	97.44	102.32	87.11
Provision for Loan Losses	2.09	0.27	1.74	4.6	3.44
Revenue	119.34	101.19	95.69	97.72	83.66
Revenue Growth (YoY)	17.94%	5.74%	-2.08%	16.81%	20.98%
Salaries and Employee Benefits	40.92	37.16	32.83	28.46	25.79
Occupancy Expenses	4.43	-	-	-	-
Federal Deposit Insurance	1.72	2.11	1.98	0.91	1.07
Amortization of Goodwill & Intangibles	3.36	2.6	2.39	1.28	1.58
Selling, General & Administrative	20.99	22.65	24.64	19.84	18.13
Other Non-Interest Expense	5.39	4.17	5.15	4.67	3.31
Total Non-Interest Expense	76.81	68.62	67.13	54.89	50.31
EBT Excluding Unusual Items	42.53	32.57	28.56	42.84	33.36
Pretax Income	42.53	32.57	28.35	40.48	29.5
Income Tax Expense	9.22	6.64	5.57	7.96	6
Net Income	33.31	25.94	22.79	32.52	23.5
Preferred Dividends & Other Adjustments	-	0.51	0.25	0.28	0.19
Net Income to Common	33.31	25.43	22.54	32.23	23.3
Net Income Growth	28.42%	13.83%	-29.92%	38.39%	16.92%
Basic Shares Outstanding	14	13	13	13	12
Diluted Shares Outstanding	14	13	13	13	12
Shares Change (YoY)	2.30%	-0.55%	3.07%	13.15%	4.60%
EPS (Basic)	2.43	1.90	1.67	2.46	2.01
EPS (Diluted)	2.43	1.90	1.67	2.46	2.01
EPS Growth	28.02%	13.49%	-32.11%	22.39%	11.67%
Dividend Per Share	0.900	0.882	0.850	0.800	0.710
Dividend Growth	1.98%	3.82%	6.25%	12.68%	7.58%
Effective Tax Rate	21.67%	20.37%	19.63%	19.67%	20.35%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q