---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-003311"
form_type: "8-K"
ticker: "FMFG"
cik: "0001698022"
company_name: "Farmers & Merchants Bancshares, Inc."
filed_at: "2025-02-10T23:59:59+00:00"
generated_at: "2026-05-27T00:12:44.129851+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Farmers and Merchants Bancshares reports $4.28M net income for 2024, down 33% from prior year

## Summary
- Net income for 2024 was $4,277,703 ($1.37 per share), compared to $6,418,337 ($2.08 per share) in 2023.
- Loan portfolio grew 11.4% to $583 million at December 31, 2024 from $523 million a year earlier.
- Net interest margin decreased to 2.68% for 2024 from 2.97% in 2023, driven by higher interest expense from Fed rate hikes.
- Core system conversion completed in October 2024, increasing expenses but expected to boost efficiency and customer experience.

## SEC filing metadata
- accession: 0001437749-25-003311
- form_type: 8-K
- ticker: FMFG
- cik: 0001698022
- company_name: Farmers & Merchants Bancshares, Inc.
- filed_at: 2025-02-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698022/000143774925003311/0001437749-25-003311-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698022/000143774925003311/fmfg20250210_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-003311
- JSON: https://secwatch.observer/filing/0001437749-25-003311.json
- Plain text: https://secwatch.observer/filing/0001437749-25-003311.txt

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