Farmers and Merchants Bancshares, Inc. Reports Earnings of $6,418,337 or $2.08 Per Share for the Year Ended December 31, 2023
HAMPSTEAD, Md., Jan. 31, 2024 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), announced that net income for the year ended December 31, 2023 was $6,418,337, or $2.08 per common share (basic and diluted), compared to $8,090,127, or $2.66 per common share (basic and diluted), for the same period in 2022. The Company’s return on average equity during the year ended December 31, 2023 was 13.08% compared to 16.03% for the same period in 2022. The Company’s return on average assets during the year ended December 31, 2023 was 0.86% compared to 1.13% for the same period in 2022.
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