Farmers and Merchants Bancshares, Inc. Reports Earnings of $3,570,968 or $1.16 per Share for the Six Months Ended June 30, 2023
HAMPSTEAD, Md., July 31, 2023 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), announced that net income for the six months ended June 30, 2023 was $3,570,968, or $1.16 per common share (basic and diluted), compared to $4,101,535, or $1.35 per common share (basic and diluted), for the same period in 2022. The Company’s return on average equity during the six months ended June 30, 2023 was 14.34% compared to 15.37% for the same period in 2022. The Company’s return on average assets during the six months ended June 30, 2023 was 0.99% compared to 1.15% for the same period in 2022.
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