Farmers & Merchants Bancorp, Inc.: Q4 and Full-Year 2024 Financial Results
February 12, 2025
Farmers & Merchants Bancorp, Inc. (FMAO) recently reported its financial results for the fourth quarter and twelve months ended December 31, 2024. The company, headquartered in Archbold, Ohio, reported a strong finish to the year, with notable improvements in key financial metrics.
Financial Overview
For the quarter, FMAO reported net income of $6.2 million, up from $5.8 million in the same period last year. Total assets grew by 3.5% to reach $1.5 billion, while total loans and leases increased by 5.2% to $1.1 billion. The bank’s net interest margin expanded by 10 basis points to 3.43%.
Earnings Per Share
Diluted earnings per share (EPS) came in at $0.35 for the quarter, up from $0.31 in the fourth quarter of 2023. For the full year, FMAO reported EPS of $1.17, up from $1.06 in 2023.
Dividends
The board of directors declared a quarterly cash dividend of $0.08 per common share, payable March 15, 2025, to shareholders of record on March 1, 2025.
Impact on Shareholders
The strong financial performance of Farmers & Merchants Bancorp, Inc. is a promising sign for shareholders. The increased net income, growing assets, and expanding net interest margin are all indicators of a healthy and growing business. Additionally, the declaration of a higher dividend demonstrates the confidence of the board in the bank’s financial position and its ability to generate profits for shareholders.
Impact on the World
The financial results of Farmers & Merchants Bancorp, Inc. may have a ripple effect on the broader economy. As a community bank, FMAO plays an important role in providing financing and financial services to local businesses and individuals. With a strong balance sheet and growing loan portfolio, the bank is well-positioned to support economic growth in its communities. Additionally, the bank’s profitability may attract further investment in the financial sector, which could lead to increased economic activity and job creation.
Conclusion
Farmers & Merchants Bancorp, Inc.’s strong fourth-quarter and full-year 2024 financial results are a positive sign for the bank’s shareholders and the communities it serves. With a growing loan portfolio, expanding net interest margin, and increasing earnings per share, FMAO is well-positioned for continued growth and success. The bank’s financial strength may also have a positive impact on the broader economy, as it continues to support local businesses and individuals and attract further investment in the financial sector.
- Net income for the quarter was $6.2 million, up from $5.8 million in the same period last year
- Total assets grew by 3.5% to reach $1.5 billion
- Total loans and leases increased by 5.2% to $1.1 billion
- Net interest margin expanded by 10 basis points to 3.43%
- Diluted EPS for the quarter was $0.35, up from $0.31 in the fourth quarter of 2023
- Full-year EPS was $1.17, up from $1.06 in 2023
- Quarterly cash dividend was $0.08 per common share, payable March 15, 2025
