Farmers & Merchants Bancorp reports record full year 2024 net income of $88.5M, EPS up 3.78%

FARMERS & MERCHANTS BANCORP

2024-FY EPS reported $121.02

Record full year net income of $88.5M, or $121.02 per share, up 3.78% from $116.61 in 2023.
Q4 net income of $21.8M ($31.11 per share) vs $21.4M ($28.55) in Q4 2023.
Net interest margin of 4.05%; loan yield improved to 6.08% while cost of deposits rose to 1.35%.
Total assets $5.37B; loans $3.68B; deposits $4.70B; no brokered deposits; net charge-offs $0.7M.
Share repurchases: 48,173 shares in 2024; $19.9M remaining under current $55M buyback program.

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