---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-051353"
form_type: "8-K"
ticker: "FMAO"
cik: "0000792966"
company_name: "FARMERS & MERCHANTS BANCORP INC"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:33:37.259945+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FMAO Q1 net income $5.4M ($0.39 EPS) down from $6.5M; loans up 3.9%, deposits up 4.3%

## Summary
- Net income of $5.4M ($0.39 per diluted share) vs $6.5M ($0.47) in prior-year Q1; net interest income after provision up 6.2% from Q4 2023.
- Total loans grew 3.9% to $2.54B; total deposits increased 4.3% to a record $2.62B.
- Cash and cash equivalents surged 191.9% to $187.8M; total assets reached record $3.29B.
- Nonperforming loans $19.4M (0.76% of loans) vs $7.7M a year ago, driven by a $16.5M agricultural relationship; net charge-offs 0.00%.
- Quarterly dividend raised 4.8% to $0.22 per share; 29 consecutive years of annual dividend increases.

## SEC filing metadata
- accession: 0000950170-24-051353
- form_type: 8-K
- ticker: FMAO
- cik: 0000792966
- company_name: FARMERS & MERCHANTS BANCORP INC
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/792966/000095017024051353/0000950170-24-051353-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/792966/000095017024051353/fmao-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-051353
- JSON: https://secwatch.observer/filing/0000950170-24-051353.json
- Plain text: https://secwatch.observer/filing/0000950170-24-051353.txt

## Key facts
- Earnings Releases
  FARMERS & MERCHANTS BANCORP INC reported the 2024 first quarter ended March 31, 2024 results: net income $5.4 million, EPS $0.39 per basic and diluted share.
  - Period: the 2024 first quarter ended March 31, 2024
  - Net income: $5.4 million
  - EPS: $0.39 per basic and diluted share
  - Result: reported results
  source text: Net income for the 2024 first quarter ended March 31, 2024, was $5.4 million, compared to $6.5 million for the same period last year. Net income per basic and diluted share for the 2024 first quarter was $0.39, compared to $0.47 for the same period last year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/792966/000095017024051353/0000950170-24-051353-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.