Farmers & Merchants Bancorp (FMCB) Reports Record Third Quarter and Year-to-Date Earnings

Third Quarter 2023 Highlights

LODI, Calif., Oct. 19, 2023 (GLOBE NEWSWIRE) — Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported third quarter net income of $22.0 million, or $29.23 per diluted common share for the third quarter of 2023 compared with $19.5 million, or $25.20 per diluted common share for the third quarter of 2022 an increase of 12.8% or 16.0% on a per share basis. Annualized return on average assets was 1.65% and return on average equity was 16.80% for the third quarter of 2023 compared with 1.45% and 16.64% in the third quarter of 2022. The expense efficiency ratio for the third quarter was 42.89% compared with 46.86% in the third quarter of 2022.

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