Farmers & Merchants Bancorp reports record 2025 net income of $93.6M, EPS up 10.69%

FARMERS & MERCHANTS BANCORP

2025-FY EPS reported $133.96

Record annual net income $93.6M (+$5.1M YoY); diluted EPS $133.96 (+10.69% YoY).
Net interest margin improved to 4.15% from 4.05%; efficiency ratio 45.52% vs 46.24%.
Total deposits grew 5.93% to $5.0B; loans held for investment $3.7B, down 0.62%.
Non-performing loans 0.02% of total loans; allowance for credit losses 2.08% of loans.
Tangible book value per share $907.24 (+13.33% YoY); total risk-based capital ratio 15.29%.

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