secwatch.observer — SEC 8-K summary
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Issuer:     FARMERS & MERCHANTS BANCORP INC (FMAO)
CIK:        0000792966
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000950170-24-051353
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792966/000095017024051353/0000950170-24-051353-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792966/000095017024051353/fmao-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-051353

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