Farmers & Merchants Bancshares Q2 net income $1.2M, EPS $0.38; NIM expands to 2.92%

Farmers & Merchants Bancshares, Inc.

2025-Q2 EPS reported $0.74

Net income for H1 2025: $2.4M ($0.74/share), flat vs H1 2024; Q2 net income $1.2M ($0.38) vs $1.1M ($0.35) in Q2 2024.
Net interest margin widened to 2.92% from 2.70% on higher loan yields; provision of $268k recorded vs $0 in prior year (one loan write-down).
Loans grew $32.5M net in H1 to $615.5M; deposits decreased $9.9M to $748.9M. Tangible equity $53.2M; book value $18.97/share.
CEO cites strong loan growth and moderating funding costs; asset quality remains high with few delinquencies.

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