Farmers & Merchants Bancorp (FMCB)

FMCB Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	220.31	204.48	164.02	147.21	143.38	137.24
Interest Income on Investments	49.27	49.27	34.39	18.06	15.91	17.39
Total Interest Income	269.58	253.75	198.41	165.27	159.29	154.62
Interest Paid on Deposits	59	37.52	4.35	4.02	9.11	12.64
Interest Paid on Borrowings	0.85	0.85	0.49	0.32	0.38	0.55
Total Interest Expense	59.84	38.37	4.84	4.33	9.49	13.19
Net Interest Income	209.74	215.39	193.57	160.94	149.8	141.43
Net Interest Income Growth (YoY)	-2.35%	11.27%	20.28%	7.43%	5.92%	12.69%
Gain (Loss) on Sale of Investments	-8.2	-8.2	-10.69	2.55	0.04	0
Other Non-Interest Income	18.32	17.38	13.62	12.92	12.38	12.65
Total Non-Interest Income	12.88	11.94	5.73	18.44	15.05	16.33
Non-Interest Income Growth (YoY)	422.52%	108.49%	-68.95%	22.51%	-7.80%	7.28%
Revenues Before Loan Losses	222.61	227.33	199.3	179.38	164.86	157.76
Provision for Loan Losses	5.35	9.41	6.45	1.91	4.5	0.2
Revenue	217.26	217.92	192.85	177.47	160.36	157.56
Revenue Growth (YoY)	4.33%	13.00%	8.67%	10.67%	1.78%	16.54%
Salaries and Employee Benefits	70.88	70.88	64.25	63.86	56.95	55.25
Federal Deposit Insurance	2.77	2.77	1.77	1.5	0.52	0.62
Selling, General & Administrative	14.35	14.35	13.47	12.09	6.88	9.36
Other Non-Interest Expense	9.3	13.36	13.62	11.7	14.26	13.55
Total Non-Interest Expense	97.3	101.37	93.11	89.15	82.41	82.24
EBT Excluding Unusual Items	119.96	116.55	99.74	88.32	77.95	75.31
Pretax Income	119.96	116.55	99.74	88.32	77.95	75.31
Income Tax Expense	32.01	28.24	24.65	21.99	19.22	19.28
Earnings From Continuing Operations	87.95	88.31	75.09	66.34	58.73	56.04
Net Income to Common	87.95	88.31	75.09	66.34	58.73	56.04
Basic Shares Outstanding	1	1	1	1	1	1
Diluted Shares Outstanding	1	1	1	1	1	1
Shares Change (YoY)	-2.58%	-2.62%	-1.51%	-0.47%	0.78%	-1.75%
EPS (Basic)	117.71	116.61	96.55	84.01	74.03	71.18
EPS (Diluted)	117.71	116.61	96.55	84.01	74.03	71.18
EPS Growth	6.91%	20.78%	14.93%	13.48%	4.00%	25.27%
Effective Tax Rate	26.68%	24.23%	24.71%	24.89%	24.65%	25.60%
Dividend Per Share	17.600	17.100	16.150	15.300	14.750	14.200
Dividend Growth	112.05%	5.88%	5.56%	3.73%	3.87%	2.16%

Source: S&P Capital IQ. Banks template.