Farmers & Merchants Bank Q1 net income rises 57% to $1.8 million

FARMERS & MERCHANTS BANCSHARES INC

FARMERS & MERCHANTS BANCSHARES INC

FMFG

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  • Farmers & Merchants Bank posted net income of $1.8 million for quarter ended March 31, 2026, up 57%, with EPS of $0.56.
  • Net interest income climbed to $6.8 million, rising 23% as yield on earning assets increased 34 basis points to 5.37%.
  • Efficiency ratio improved to 65.83%, a 9.4 percentage-point decline from year-ago levels.
  • Total assets edged down to $863.4 million, while deposits slipped to $711.3 million on repayment of $8.5 million in brokered CDs.
  • CEO Gary A. Harris said the bank is investing in technology modernization, stronger tools, and talent to support growth, adding that management expects 2026 to be another strong year.


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