secwatch.observer — SEC 8-K summary
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Issuer:     FARMERS & MERCHANTS BANCORP (FMCB)
CIK:        0001085913
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001140361-23-019223
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1085913/000114036123019223/0001140361-23-019223-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1085913/000114036123019223/brhc20051641_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-019223

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