Farmers and Merchants Bancshares FY2023 net income $6.42M ($2.08 EPS), down 21% YoY

Farmers & Merchants Bancshares, Inc.

2023-FY EPS reported $2.08

Net income for FY2023 $6.42M ($2.08/diluted) vs $8.09M ($2.66) in FY2022.
Q4 2023 net income $1.42M ($0.46/share) vs $2.01M ($0.66) in Q4 2022.
Net interest income fell $2.71M YoY as net yield dropped to 2.97% from 3.54%.
Total assets $800M (Dec 2023) vs $718M (Dec 2022); deposits $681M vs $624M.
CECL credit loss recovery of $570K vs provision of $475K in 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Farmers & Merchants Bancshares, Inc. reported the year ended December 31, 2023 results: net income $6,418,337, EPS $2.08 per common share (basic and diluted).

Period: the year ended December 31, 2023
Net income: $6,418,337
EPS: $2.08 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 year ended December 31, 2023 was $6,418,337, or $2.08 per common share (basic and diluted), compared to $8,090,127, or $2.66 per common share (basic and diluted), for the same period in 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Farmers & Merchants Bancshares, Inc. reported the three months ended December 31, 2023 results: net income $1,415,230, EPS $0.46 per common share (basic and diluted).

Period: the three months ended December 31, 2023
Net income: $1,415,230
EPS: $0.46 per common share (basic and diluted)
Result: reported results

Exact text from the filing

Net income for the three months ended December 31, 2023 was $1,415,230, or $0.46 per common share (basic and diluted), compared to $2,014,282, or $0.66 per common share (basic and diluted), for the fourth quarter of 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 0001437749-24-002711

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.