Farmers & Merchants Bank Posts $264.89 Per-Share Q3 Loss
FMBL sits 39% above its 52-week low of $7,000 on elevated volume (9.9× avg).
Summary
Farmers & Merchants Bank of California reported a third-quarter loss of $264.89 per share, or $36.8 million, a striking figure for a thinly traded OTC bank whose stock sits near $9,699. The loss follows the company's August 31 disclosure that it sold roughly $1 billion of municipal bonds yielding 1.43% as part of a balance sheet repositioning — a move that likely crystallized losses on the securities portfolio and is the most plausible driver of the quarterly hit. With the shares trading near their 52-week high, the result is a sharp contrast to the price action and raises questions about the bank's earnings power after the portfolio overhaul. The headline gives no revenue or prior-year comparison, so the size of the loss relative to capital is unclear from this release alone.
At the time of this announcement, FMBL was trading at $9,698.99 on OTC in the Finance sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $7,000.00 to $9,994.98. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.