FMCB 2025 year-end: ROA 1.67%, NIM 4.15%, assets $5.7B; repurchased 4.80% of shares

FARMERS & MERCHANTS BANCORP

Assets $5.7B, TCE ratio 11.15%, RBC 15.29%; NIM 4.15% tax-equiv; ROE 15.11%.
Repurchased 33,562 shares (4.80% of outstanding) in 2025; outstanding shares down 8.13% since 2019.
Net charge-offs of $1.8M (0.05% of avg loans); non-performing loans $750K (0.02%); ACL 2.08%.
Dividend history: 90 consecutive years, 60 years of increases; switched to quarterly dividends in Q3-2025.
No other borrowings or brokered CDs; loan-to-deposit ratio 73.67%; cost of total deposits 1.22%.

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