Farmers & Merchants Bancorp reports record Q1 net income of $23.5M, EPS $30.80

FARMERS & MERCHANTS BANCORP

2023-Q1 EPS reported $30.80

Net income $23.5M (diluted EPS $30.80) vs $17.1M ($21.70) in Q1 2022, up 37%.
Net interest income rose 32% to $55.7M; net interest margin improved to 4.53% from 3.39% YoY.
Total deposits fell 4.62% to $4.5B from Dec 31, 2022, citing agricultural seasonality.
Credit quality strong: non-performing loans only $387K, net recoveries of $188K in Q1.
Tangible book value per share increased 13.15% YoY to $648.88; capital ratios all above well-capitalized thresholds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FARMERS & MERCHANTS BANCORP reported first quarter of 2023 results: net income $23.5 million, EPS $30.80 per diluted common share.

Period: first quarter of 2023
Net income: $23.5 million
EPS: $30.80 per diluted common share
Result: reported results

Exact text from the filing

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 record net income of $23.5 million, or $30.80 per diluted common share for the first quarter of 2023

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

FARMERS & MERCHANTS BANCORP filing history →

Source: SEC EDGAR

accession 0001140361-23-019223

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.