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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	150.14	145.33	129.34	94.26	71.65	65.32
Interest Income on Investments	18.11	18.24	10.46	6.89	5.2	4.85
Total Interest Income	168.25	163.57	139.81	101.15	76.84	70.17
Interest Paid on Deposits	61.5	64.46	46.92	9.88	5.42	8.64
Interest Paid on Borrowings	12.71	13.2	11.49	4.48	1.92	1.76
Total Interest Expense	74.21	77.66	58.41	14.36	7.34	10.39
Net Interest Income	94.04	85.91	81.4	86.79	69.5	59.78
Net Interest Income Growth (YoY)	15.97%	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	15.09	14.69	16.23	14.18	13.42	12.07
Total Non-Interest Income	16.07	15.55	16.04	15.54	17.61	16.36
Non-Interest Income Growth (YoY)	5.72%	-3.06%	3.24%	-11.77%	7.65%	38.39%
Revenues Before Loan Losses	110.11	101.46	97.44	102.32	87.11	76.13
Provision for Loan Losses	1.48	0.27	1.74	4.6	3.44	6.98
Revenue	108.63	101.19	95.69	97.72	83.66	69.15
Revenue Growth (YoY)	13.86%	5.74%	-2.08%	16.81%	20.98%	7.66%
Salaries and Employee Benefits	37.57	37.16	32.83	28.46	25.79	23.02
Federal Deposit Insurance	1.93	2.11	1.98	0.91	1.07	0.63
Amortization of Goodwill & Intangibles	2.6	2.6	2.39	1.28	1.58	1.03
Selling, General & Administrative	24.56	22.65	24.64	19.84	18.13	16.61
Other Non-Interest Expense	4.6	4.17	5.15	4.67	3.31	3.04
Total Non-Interest Expense	71.54	68.62	67.13	54.89	50.31	44.33
EBT Excluding Unusual Items	37.09	32.57	28.56	42.84	33.36	24.82
Other Unusual Items	-	-	-	-	-	0.43
Pretax Income	37.09	32.57	28.35	40.48	29.5	25.21
Income Tax Expense	7.54	6.64	5.57	7.96	6	5.11
Net Income	29.56	25.94	22.79	32.52	23.5	20.1
Preferred Dividends & Other Adjustments	0.56	0.51	0.25	0.28	0.19	0.15
Net Income to Common	29	25.43	22.54	32.23	23.3	19.94
Net Income Growth	38.38%	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)	-0.57%	-0.55%	3.07%	13.15%	4.60%	0.28%
EPS (Basic)	2.16	1.90	1.67	2.46	2.01	1.80
EPS (Diluted)	2.16	1.90	1.67	2.46	2.01	1.80
EPS Growth	38.39%	13.49%	-32.11%	22.39%	11.67%	8.71%
Dividend Per Share	0.885	0.882	0.850	0.800	0.710	0.660
Dividend Growth	1.72%	3.82%	6.25%	12.68%	7.58%	8.20%
Effective Tax Rate	20.31%	20.37%	19.63%	19.67%	20.35%	20.28%

Updated Jul 28, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q