secwatch.observer — SEC 8-K summary
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Issuer:     Farmers & Merchants Bancshares, Inc. (FMFG)
CIK:        0001698022
Form:       8-K
Filed at:   2022-10-20T23:59:59+00:00
Accession:  0001437749-22-024469
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Farmers & Merchants Bancshares reports 9M net income $6.08M ($2.00/sh); book value down to $15.01 due to AFS losses
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- Q3 2022 net income $1.97M ($0.65/sh) vs $2.12M ($0.70/sh) in Q3 2021.
- Nine-month net income $6.08M ($2.00/sh) vs $6.18M ($2.05/sh) year ago.
- Loans grew to $505M from $482M despite $9M PPP decline; deposits rose to $639M from $626M.
- Book value fell to $15.01/sh from $18.64/sh due to $24M unrealized loss on AFS securities.
- CEO notes strong YTD earnings but expects deposit rate increases to pressure Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698022/000143774922024469/0001437749-22-024469-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698022/000143774922024469/fmfg20221019_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-024469

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer