{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-010960","form_type":"8-K","ticker":"FMFG","cik":"0001698022","company_name":"Farmers & Merchants Bancshares, Inc.","filed_at":"2023-04-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.090457+00:00","generated_at":"2026-06-16T16:28:35.146373+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"F&M Bancshares Q1 net income $1.9M ($0.62 EPS) vs $2.05M ($0.68) YoY","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-010960","json":"https://secwatch.observer/filing/0001437749-23-010960.json","markdown":"https://secwatch.observer/filing/0001437749-23-010960.md","text":"https://secwatch.observer/filing/0001437749-23-010960.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1698022/000143774923010960/0001437749-23-010960-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1698022/000143774923010960/fmfg20230424_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T16:28:35.146373+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2ff2adf0183e36a0d88a1139821aab2c69067b79","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1698022/000143774923010960/0001437749-23-010960-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended March 31, 2023"},{"label":"Net income","value":"$1,900,851"},{"label":"EPS","value":"$0.62 per common share (basic and diluted)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}