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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	147.2	145.33	129.34	94.26	71.65	65.32
Interest Income on Investments	18.72	18.24	10.46	6.89	5.2	4.85
Total Interest Income	165.92	163.57	139.81	101.15	76.84	70.17
Interest Paid on Deposits	63.17	64.46	46.92	9.88	5.42	8.64
Interest Paid on Borrowings	13.05	13.2	11.49	4.48	1.92	1.76
Total Interest Expense	76.22	77.66	58.41	14.36	7.34	10.39
Net Interest Income	89.7	85.91	81.4	86.79	69.5	59.78
Net Interest Income Growth (YoY)	12.36%	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	14.78	14.69	16.23	14.18	13.42	12.07
Total Non-Interest Income	15.82	15.55	16.04	15.54	17.61	16.36
Non-Interest Income Growth (YoY)	0.07%	-3.06%	3.24%	-11.77%	7.65%	38.39%
Revenues Before Loan Losses	105.52	101.46	97.44	102.32	87.11	76.13
Provision for Loan Losses	1.38	0.27	1.74	4.6	3.44	6.98
Revenue	104.14	101.19	95.69	97.72	83.66	69.15
Revenue Growth (YoY)	9.24%	5.74%	-2.08%	16.81%	20.98%	7.66%
Salaries and Employee Benefits	37.51	37.16	32.83	28.46	25.79	23.02
Federal Deposit Insurance	1.99	2.11	1.98	0.91	1.07	0.63
Amortization of Goodwill & Intangibles	2.56	2.6	2.39	1.28	1.58	1.03
Selling, General & Administrative	23.34	22.65	24.64	19.84	18.13	16.61
Other Non-Interest Expense	4.03	4.17	5.15	4.67	3.31	3.04
Total Non-Interest Expense	69.59	68.62	67.13	54.89	50.31	44.33
EBT Excluding Unusual Items	34.56	32.57	28.56	42.84	33.36	24.82
Other Unusual Items	-	-	-	-	-	0.43
Pretax Income	34.56	32.57	28.35	40.48	29.5	25.21
Income Tax Expense	7.02	6.64	5.57	7.96	6	5.11
Net Income	27.53	25.94	22.79	32.52	23.5	20.1
Preferred Dividends & Other Adjustments	0.53	0.51	0.25	0.28	0.19	0.15
Net Income to Common	27	25.43	22.54	32.23	23.3	19.94
Net Income Growth	26.99%	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)	2.01	1.90	1.67	2.46	2.01	1.80
EPS (Diluted)	2.01	1.90	1.67	2.46	2.01	1.80
EPS Growth	26.69%	13.49%	-32.11%	22.39%	11.67%	8.71%
Dividend Per Share	0.884	0.882	0.850	0.800	0.710	0.660
Dividend Growth	2.76%	3.82%	6.25%	12.68%	7.58%	8.20%
Effective Tax Rate	20.33%	20.37%	19.63%	19.67%	20.35%	20.28%

Updated Feb 26, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q