Farmers & Merchants Bancorp Reports Record Second Quarter 2026 Results

Farmers & Merchants Bancorp (FMCB) announced record-breaking financial results for the second quarter of 2026. Net income reached $24.7 million, a 7.3% increase compared to the second quarter of 2025, with diluted earnings per common share rising by 10.47% to $36.39. The company achieved an annualized return on average assets of 1.71% and a return on average equity of 14.84%. Tangible book value per common share saw a significant increase of 15.38% to $963.82. Net interest income grew by 6.46% to $57.4 million, and the net interest margin improved to 4.20% on a tax-equivalent basis. Total loans and leases increased by 2.2% to $3.70 billion, while deposits grew by 7.0% to $5.09 billion. Capital position strengthened, with total risk-based capital ratio at 16.04%. Credit quality remained resilient, with an allowance for credit losses on gross loans and leases at 2.08%. The company also highlighted its consistent dividend payments, being a "Dividend King" with 61 consecutive years of increases.