---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-021168"
form_type: "8-K"
ticker: "FMFG"
cik: "0001698022"
company_name: "Farmers & Merchants Bancshares, Inc."
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:09:56.597319+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Farmers & Merchants Bancshares Q2 net income falls 19% YoY to $1.67M; EPS $0.54

## Summary
- Six-month net income $3.57M ($1.16 EPS) vs $4.10M ($1.35 EPS) YoY, down 13%.
- Q2 net interest margin compressed due to 90bps increase in deposit/borrowing costs to 1.29%.
- Loans grew to $531M from $517M at Dec 2022; deposits increased to $632M.
- Recorded a $495,000 recovery of credit losses under CECL; no credit deterioration in AFS portfolio.
- Utilized $10M from FRB BTFP; total liquidity access ~$328M.

## SEC filing metadata
- accession: 0001437749-23-021168
- form_type: 8-K
- ticker: FMFG
- cik: 0001698022
- company_name: Farmers & Merchants Bancshares, Inc.
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698022/000143774923021168/0001437749-23-021168-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698022/000143774923021168/fmfg20230731_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-021168
- JSON: https://secwatch.observer/filing/0001437749-23-021168.json
- Plain text: https://secwatch.observer/filing/0001437749-23-021168.txt

## Key facts
- Earnings Releases
  Farmers & Merchants Bancshares, Inc. reported the three months ended June 30, 2023 results: net income $1,670,117, EPS $0.54 per common share (basic and diluted).
  - Period: the three months ended June 30, 2023
  - Net income: $1,670,117
  - EPS: $0.54 per common share (basic and diluted)
  - Result: reported results
  source text: Net income for the three months ended June 30, 2023 was $1,670,117, or $0.54 per common share (basic and diluted)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698022/000143774923021168/0001437749-23-021168-index.htm
- Earnings Releases
  Farmers & Merchants Bancshares, Inc. reported the six months ended June 30, 2023 results: net income $3,570,968, EPS $1.16 per common share (basic and diluted).
  - Period: the six months ended June 30, 2023
  - Net income: $3,570,968
  - EPS: $1.16 per common share (basic and diluted)
  - Result: reported results
  source text: net income for the six months ended June 30, 2023 was $3,570,968, or $1.16 per common share (basic and diluted)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698022/000143774923021168/0001437749-23-021168-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.