Record Q2 Net Income of $24.7M, EPS Up 10.5% at Farmers & Merchants Bancorp
FMCB sits 37% above its 52-week low of $985.25.
Summary
Farmers & Merchants Bancorp posted record Q2 net income of $24.7 million, a 7.3% increase year-over-year, with diluted EPS of $36.39 up 10.5%. Tangible book value per share surged 15.4% to $963.82, reflecting strong capital accumulation. Net interest income rose 6.5% to $57.4 million on a wider margin of 4.20%, while deposits grew 7% and loans 2.2%. Credit quality held firm with minimal charge-offs. This follows a strong Q1 and a dividend hike in May, reinforcing a consistent upward trajectory. The stock trades near its 52-week high, and these results support the premium valuation.
At the time of this announcement, FMCB was trading at $1,345.00 on OTC in the Finance sector, with a market capitalization of approximately $931.1M. The 52-week trading range was $985.25 to $1,402.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.