F&M Bancshares Q1 net income $1.9M ($0.62 EPS) vs $2.05M ($0.68) YoY

Farmers & Merchants Bancshares, Inc.

2024-Q1 EPS reported $0.62

Net income $1,900,851 ($0.62/share) vs $2,050,802 ($0.68) in Q1 2022; ROAA 1.05% vs 1.15%.
Net interest income fell $307k; net yield to 3.24% from 3.56% due to higher deposit costs (Fed rate hikes).
Total assets $723M, loans $521M (up $4M), deposits $637M (up $13M) from Dec 2022.
Book value $16.53/share; tangible equity $44M; AFS portfolio unrealized loss $21M but no credit deterioration.
CEO cites low uninsured deposits (~20%), ample liquidity, no crypto; loan portfolio performing well.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Farmers & Merchants Bancshares, Inc. reported the three months ended March 31, 2023 results: net income $1,900,851, EPS $0.62 per common share (basic and diluted).

Period: the three months ended March 31, 2023
Net income: $1,900,851
EPS: $0.62 per common share (basic and diluted)
Result: reported results

Exact text from the filing

Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), announced that net income for the three months ended March 31, 2023 was $1,900,851, or $0.62 per common share (basic and diluted), compared to $2,050,802, or $0.68 per common share, for the same period in 2022.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

Farmers & Merchants Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-010960

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