secwatch.observer — SEC 8-K summary
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Issuer:     Farmers & Merchants Bancshares, Inc. (FMFG)
CIK:        0001698022
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0001437749-24-002711
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698022/000143774924002711/0001437749-24-002711-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698022/000143774924002711/fmfg20240131_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-002711

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