Farmers & Merchants Bancorp, Inc. (FMAO)

FMAO 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	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	154.28	145.33	129.34	94.26	71.65	65.32
Interest Income on Investments	16.55	18.24	10.46	6.89	5.2	4.85
Total Interest Income	170.83	163.57	139.81	101.15	76.84	70.17
Interest Paid on Deposits	59.61	64.46	46.92	9.88	5.42	8.64
Interest Paid on Borrowings	11.87	13.2	11.49	4.48	1.92	1.76
Total Interest Expense	71.48	77.66	58.41	14.36	7.34	10.39
Net Interest Income	99.35	85.91	81.4	86.79	69.5	59.78
Net Interest Income Growth (YoY)	19.68%	5.55%	-6.21%	24.88%	16.26%	11.63%
Gain (Loss) on Sale of Investments	-	-	-0.89	-	0.29	0.27
Other Non-Interest Income	15.26	14.69	16.23	14.18	13.42	12.07
Total Non-Interest Income	16.47	15.55	16.04	15.54	17.61	16.36
Non-Interest Income Growth (YoY)	6.26%	-3.06%	3.24%	-11.77%	7.65%	38.39%
Revenues Before Loan Losses	115.82	101.46	97.44	102.32	87.11	76.13
Provision for Loan Losses	1.75	0.27	1.74	4.6	3.44	6.98
Revenue	114.07	101.19	95.69	97.72	83.66	69.15
Revenue Growth (YoY)	16.39%	5.74%	-2.08%	16.81%	20.98%	7.66%
Salaries and Employee Benefits	38.1	37.16	32.83	28.46	25.79	23.02
Federal Deposit Insurance	1.85	2.11	1.98	0.91	1.07	0.63
Amortization of Goodwill & Intangibles	2.97	2.6	2.39	1.28	1.58	1.03
Selling, General & Administrative	25.72	22.65	24.64	19.84	18.13	16.61
Other Non-Interest Expense	4.9	4.17	5.15	4.67	3.31	3.04
Total Non-Interest Expense	73.85	68.62	67.13	54.89	50.31	44.33
EBT Excluding Unusual Items	40.22	32.57	28.56	42.84	33.36	24.82
Other Unusual Items	-	-	-	-	-	0.43
Pretax Income	40.22	32.57	28.35	40.48	29.5	25.21
Income Tax Expense	8.32	6.64	5.57	7.96	6	5.11
Net Income	31.9	25.94	22.79	32.52	23.5	20.1
Preferred Dividends & Other Adjustments	0.59	0.51	0.25	0.28	0.19	0.15
Net Income to Common	31.31	25.43	22.54	32.23	23.3	19.94
Net Income Growth	38.08%	13.83%	-29.92%	38.39%	16.92%	9.20%
Basic Shares Outstanding	13	13	13	13	12	11
Diluted Shares Outstanding	13	13	13	13	12	11
Shares Change (YoY)	-0.56%	-0.55%	3.07%	13.15%	4.60%	0.28%
EPS (Basic)	2.33	1.90	1.67	2.46	2.01	1.80
EPS (Diluted)	2.33	1.90	1.67	2.46	2.01	1.80
EPS Growth	37.90%	13.49%	-32.11%	22.39%	11.67%	8.71%
Dividend Per Share	0.891	0.882	0.850	0.800	0.710	0.660
Dividend Growth	1.14%	3.82%	6.25%	12.68%	7.58%	8.20%
Effective Tax Rate	20.69%	20.37%	19.63%	19.67%	20.35%	20.28%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q