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Stock impact report

Farmers & Merchants Bancorp, Inc. Reports 2023 Fourth-Quarter and Full-Year Financial Results [Yahoo! Finance]

Farmers & Merchants Bancorp, Inc. (FMAO) 
NASDAQ:AMEX Investor Relations: farmers.com
Company Research Source: Yahoo! Finance
2023 Fourth Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 83 consecutive quarters of profitability Net income was $5.5 million, or $0.41 per basic and diluted share Asset quality remains strong as nonperforming loans were 0.87% of total loans Net charge-offs to average loans were 0.03% Allowance for credit losses was 111.95% of nonperforming loans Tier 1 leverage ratio was 8.20% Opened first bank office in Michigan and new regional headquarters in Fort Wayne, Indiana Added Ian D. Boyce to the Board of Directors of both the Company and the Bank Realigned organizational structure to support future growth and drive profitability Dividend raised 4.8% year-over-year, representing the 29 th consecutive annual increase in the Company's regular dividend payment since 1994 2023 Full-Year Financial Highlights Include (on a year-over-year basis unless noted): Total loans were a record of $2.58 billion and increased 9.5% from $2.36 b Show less Read more
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