Farmers & Merchants Bancorp, Inc. operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in northwest Ohio and northeast Indiana. The company offers checking account services, as well as savings and time deposit services, such as certificates of deposit; and custodial services for individual retirement and health savings accounts. It also provides commercial, agricultural, and residential mortgage, as well as consumer and credit card lending products; loans for farm land, farm equipment, and livestock; operating loans for seeds, fertilizers, and feeds; home improvement loans; and loans for autos, trucks, recreational vehicles, and motorcycles. In addition, the company offers commercial real estate loans, such as operation lines of credit and machinery purchase loans. Further, it provides automated teller machine services; and online banking, remote deposit capture or electronic deposit processing, merchant credit card, and mobile banking services; and electronic transaction origination, such as wire and automated clearing house file transmittal services. As of February 10, 2021, the company operated through 30 offices. Farmers & Merchants Bancorp, Inc. was founded in 1897 and is headquartered in Archbold, Ohio.
IPO Year:
Exchange: NASDAQ
Website: fm.bank
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/12/2024 | $24.00 | Neutral | Piper Sandler |
| 4/5/2024 | $22.00 | Market Perform | Hovde Group |
| 7/28/2023 | $24.00 → $23.50 | Neutral → Underweight | Piper Sandler |
| 12/21/2022 | $30.00 | Neutral | Janney |
| 10/21/2022 | $27.00 | Underweight → Neutral | Piper Sandler |
| 4/22/2022 | $36.50 → $41.00 | Neutral → Underweight | Piper Sandler |
Piper Sandler resumed coverage of Farmers and Merchants with a rating of Neutral and set a new price target of $24.00
Hovde Group initiated coverage of Farmers and Merchants with a rating of Market Perform and set a new price target of $22.00
Piper Sandler downgraded Farmers and Merchants from Neutral to Underweight and set a new price target of $23.50 from $24.00 previously
Janney initiated coverage of Farmers and Merchants with a rating of Neutral and set a new price target of $30.00
Piper Sandler upgraded Farmers and Merchants from Underweight to Neutral and set a new price target of $27.00
Piper Sandler downgraded Farmers and Merchants from Neutral to Underweight and set a new price target of $41.00 from $36.50 previously
ARCHBOLD, Ohio, March 25, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.36 billion at December 31, 2024, today announced that it has approved the Company's quarterly cash dividend of $0.22125 per share. The first-quarter dividend is payable on April 20, 2025, to shareholders of record as of April 4, 2025. About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial
ARCHBOLD, Ohio, Feb. 14, 2025 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is pleased to announce Carly Buchanan as its new Chief People Officer. With over 18 years of HR, leadership, and organizational development experience across multiple industries, Carly will lead F&M's Human Resources Department, driving strategic HR planning, talent acquisition, employee engagement, and organizational growth. Carly brings a decade of retail banking experience to her role, providing valuable insight into customer-focused strategies and operational efficiency. She holds senior HR certifications from SHRM (SHRM-SCP) and HR
ARCHBOLD, Ohio, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2024 fourth quarter and twelve months ended December 31, 2024. 2024 Fourth Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 87 consecutive quarters of profitabilityNet income increased 51.2% to $8.4 million, or $0.61 per basic and diluted share, from $5.5 million, or $0.41 per basic and diluted shareAsset quality remains at historically strong levels with nonperforming loans of only $3.1 million at December 31, 2024, compared to $22.4 million at December 31, 2023Net charge-offs to average loans were 0.00%Allowance f
ARCHBOLD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced that Peter Schork has joined F&M as Regional President of the Toledo, Ohio, and Southeastern Michigan regions. Lars Eller, President and CEO of F&M stated, "As a proven community banker, Peter brings a wealth of experience to F&M. His leadership, deep market knowledge, and commitment to building strong relationships will be an invaluable resource to F&M as we continue to grow and serve our communities. We look forward to the impact he will make in driving success for our customers, employees, and stakeholders." In his new role
ARCHBOLD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced that Peter Schork has joined F&M as Market President of the Toledo, Ohio and Birmingham, Michigan markets. Lars Eller, President and CEO of F&M stated, "As a proven community banker, Peter brings a wealth of experience to F&M. His leadership, deep market knowledge, and commitment to building strong relationships will be an invaluable resource to F&M as we continue to grow and serve our communities. We look forward to the impact he will make in driving success for our customers, employees, and stakeholders." In his new role, Pe
ARCHBOLD, Ohio, Jan. 13, 2025 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO), is pleased to announce that Andrew Baker has been appointed Chief Strategy Officer and Taryn Marino has been promoted to Chief Retail Banking Officer. Today's announcement reflects F&M's longstanding commitment to advancing its leadership structure and strategic focus to drive continued growth and operational excellence. To elevate F&M's strategic vision, Andy Baker has been appointed as the Chief Strategy Officer (CSO). In this new role, Andy will chair the newly formed Strategic Governance Committee, compromising members of F&M's seni
ARCHBOLD, Ohio, Dec. 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.39 billion at September 30, 2024, today announced that it has approved the Company's quarterly cash dividend of $0.22125 per share. The fourth-quarter dividend is payable on January 20, 2025, to shareholders of record as of December 27, 2024. About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other fin
ARCHBOLD, Ohio, Dec. 17, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announces the retirement of Eugene Burkholder from its Board of Directors, effective December 17, 2024. Mr. Burkholder has served as an independent director on F&M's Board since March 2012, contributing over a decade of dedicated leadership and expertise that has been pivotal to the Bank's growth. "The Board extends its heartfelt gratitude for Gene's years of service and unwavering commitment to the Bank," said F&M's Chairman Andrew Briggs. "His leadership has been an inspiration, and his legacy will continue to guide the Bank's efforts
ARCHBOLD, Ohio, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2024 third quarter and year-to-date ended September 30, 2024. 2024 Third Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 86 consecutive quarters of profitabilityNet income increased 36.4% to $6.5 million, or $0.48 per basic and diluted share, from $4.8 million, or $0.35 per basic and diluted share, and net income expanded 14.7% from the 2024 second quarterNet interest margin increased 12 basis points to 2.71%Efficiency ratio improved to 67.98%, compared to 73.07% for the same period a year ago, and 69.03% for the 2
Kevin Frey Appointed to Board of Directors Dr. K. Brad Stamm to Retire from Board of Directors ARCHBOLD, Ohio, Oct. 24, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO), announced updates to its Board of Directors. On October 22, 2024, Kevin Frey was appointed to the Board of Directors of both the Company and the Bank. In addition to this new appointment, F&M announced the retirement of Dr. K. Brad Stamm from the Board of Directors. "On behalf of F&M's Board of Directors, I am thrilled to welcome Kevin to our team. With deep roots in our legacy market and a wealth of experience as Vice President of Frey & So
ARCHBOLD, Ohio, Dec. 17, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announces the retirement of Eugene Burkholder from its Board of Directors, effective December 17, 2024. Mr. Burkholder has served as an independent director on F&M's Board since March 2012, contributing over a decade of dedicated leadership and expertise that has been pivotal to the Bank's growth. "The Board extends its heartfelt gratitude for Gene's years of service and unwavering commitment to the Bank," said F&M's Chairman Andrew Briggs. "His leadership has been an inspiration, and his legacy will continue to guide the Bank's efforts
ARCHBOLD, Ohio, May 21, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announces the retirement of Board Chairman, Jack Johnson. Mr. Johnson was appointed to the Company's Board in January 1991. He was Vice Chairman from April 2013 to July 2013 and became Chairman of the Board of Directors on July 19, 2013, a position he held until April 30, 2024. An official celebration of his retirement from the board was held on May 21, 2024, after reaching the maximum age requirement as outlined in F&M's bylaws. Lars Eller, President and Chief Executive Officer, commented, "Over his remarkable tenure, Jack has been inst
ARCHBOLD, Ohio, May 03, 2024 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced the appointment of Andrew Briggs as Chairman of the Board of both the Company and the Bank. As part of F&M's comprehensive succession plan, current Board Chairman Jack Johnson will retire later this month after reaching the maximum age requirement as set forth in F&M's bylaws. Kevin Sauder, President and CEO of Sauder Woodworking Company, will continue to serve as Vice Chairman of the Boards of Farmers & Merchants Bancorp, Inc. and F&M Bank. Lars Eller, President and Chief Executive Officer, commented, "On behalf of everyone at
ARCHBOLD, Ohio, Dec. 19, 2023 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today announced the appointment of Ian D. Boyce to the Board of Directors of both the Company and the Bank. With the addition of Mr. Boyce, the Board of Directors will now have 13 total members. Mr. Boyce is a founding member and managing partner of Dickmeyer Boyce Financial Management, a fee-only financial planning and wealth management firm based in Fort Wayne, Indiana with an additional office in Milwaukee, Wisconsin. Established in 2002, Dickmeyer Boyce provides asset management, comprehensive financial planning and retirement adviso
ARCHBOLD, Ohio, Sept. 21, 2023 (GLOBE NEWSWIRE) -- F&M Bank ("F&M"), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced the appointment of Doug Shaw, Jr. as the Regional President of its Southern Ohio market. Lars Eller, President and Chief Executive Officer stated, "Doug has been a valuable member of F&M's Commercial Lending team for nearly 10 years. His knowledge of our products and incredible leadership skills will greatly benefit F&M as we remain community-vested across Southern Ohio." Doug will be accountable for F&M's Southern Ohio region, including Sidney, Findlay, Anna, Jackson Center and Urbana. "I'm eager to move to the area and get
ARCHBOLD, Ohio, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants State Bank announced the appointment of Andy Baker as the Regional President for its Northern Indiana market. Lars Eller, President and Chief Executive Officer stated, "Andy has a long and proven history of building markets and his incredible leadership skills will benefit F&M as we look to enhance our Northern Indiana market." Andy will be accountable for F&M's Northern Indiana region from Fort Wayne, Indiana north to the Michigan border. "Being a native of Fort Wayne and Northern Indiana, my wife and I are very excited to move back to the area. F&M is a growing organization and I am eager to execute strategies to me
ARCHBOLD, Ohio, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants State Bank ("F&M" or "the Company") (NASDAQ:FMAO) announced the appointment of Eric Faust as the Senior Vice President and Chief Risk Officer (CRO). F&M also announced Benét Rupp, Chief Administrative Officer, has been promoted to Executive Vice President. Lars Eller, President and CEO, stated, "We remain focused on building, developing, and retaining a team of highly motivated, skilled, and committed people and we are pleased to welcome Eric to our executive team. Eric's proven track record and experience managing finance, IT, compliance, and enterprise risk management functions will add immediate value to F&M." As C
Benet Rupp Promoted to Chief Administrative OfficerShalini Singhal, Chief Information Officer, to Lead M&A IntegrationsAlexis Smith Promoted to Chief People OfficerAmy Cover Promoted to Chief Marketing OfficerMolly Miller Promoted to Senior E-Banking & Product Lifecycle Manager ARCHBOLD, Ohio, June 01, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) announces the retirement of Edward A. Leininger EVP & Chief Operating Officer. F&M also announced several promotions as part of the Company's established succession plan. Lars Eller, President and CEO, stated, "On behalf of everyone at F&M, we want to thank Ed for his years of dedication and service. Ed began
ARCHBOLD, Ohio, March 25, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.36 billion at December 31, 2024, today announced that it has approved the Company's quarterly cash dividend of $0.22125 per share. The first-quarter dividend is payable on April 20, 2025, to shareholders of record as of April 4, 2025. About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial
ARCHBOLD, Ohio, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2024 fourth quarter and twelve months ended December 31, 2024. 2024 Fourth Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 87 consecutive quarters of profitabilityNet income increased 51.2% to $8.4 million, or $0.61 per basic and diluted share, from $5.5 million, or $0.41 per basic and diluted shareAsset quality remains at historically strong levels with nonperforming loans of only $3.1 million at December 31, 2024, compared to $22.4 million at December 31, 2023Net charge-offs to average loans were 0.00%Allowance f
ARCHBOLD, Ohio, Dec. 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.39 billion at September 30, 2024, today announced that it has approved the Company's quarterly cash dividend of $0.22125 per share. The fourth-quarter dividend is payable on January 20, 2025, to shareholders of record as of December 27, 2024. About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other fin
ARCHBOLD, Ohio, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2024 third quarter and year-to-date ended September 30, 2024. 2024 Third Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 86 consecutive quarters of profitabilityNet income increased 36.4% to $6.5 million, or $0.48 per basic and diluted share, from $4.8 million, or $0.35 per basic and diluted share, and net income expanded 14.7% from the 2024 second quarterNet interest margin increased 12 basis points to 2.71%Efficiency ratio improved to 67.98%, compared to 73.07% for the same period a year ago, and 69.03% for the 2
ARCHBOLD, Ohio, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.32 billion at June 30, 2024, today announced that it has approved the Company's quarterly cash dividend of $0.22125 per share. The third-quarter dividend is payable on October 20, 2024, to shareholders of record as of October 4, 2024. The $0.22125 per share cash dividend reflects a $0.00125 per share increase in the quarterly dividend, representing the 30th consecutive annual increase in the Company's regular dividend payment. Lars B. Eller, President and Chief Executive Officer stated, "I am proud that F&M
ARCHBOLD, Ohio, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2024 second quarter and year-to-date ended June 30, 2024. 2024 Second Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 85 consecutive quarters of profitabilityNet income was $5.7 million, or $0.42 per basic and diluted shareProceeds from collateral sales of $6.4 million were received from an agricultural based relationship. The proceeds enabled paydowns and payoffs on nonaccrual loans during the second quarter that included $5.3 million in principal paydown, and $1.0+ million pre-tax benefit to interest and fee inco
ARCHBOLD, Ohio, June 25, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.29 billion at March 31, 2024, today announced that it has approved the Company's quarterly cash dividend of $0.22 per share, which is a 4.8% increase over the 2023 second-quarter dividend. The second-quarter dividend is payable on July 20, 2024, to shareholders of record as of July 5, 2024. About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provid
ARCHBOLD, Ohio, May 01, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2024 first quarter ended March 31, 2024. 2024 First Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 84 consecutive quarters of profitabilityNet income was $5.4 million, or $0.39 per basic and diluted shareNet interest income after provision for credit losses increased 6.2% from December 31, 2023, primarily due to a stabilizing net interest margin and solid asset qualityTotal loans increased 3.9% to $2.54 billion at March 31, 2024Total cash and cash equivalents increased by $123.5 million, or 191.9% to $187.8 mil
ARCHBOLD, Ohio, March 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (NASDAQ:FMAO) the holding company of F&M Bank, with total assets of $3.28 billion at December 31, 2023, today announced that it has approved the Company's quarterly cash dividend of $0.22 per share, which is a 4.8% increase over the 2023 first-quarter dividend. The first quarter dividend is payable on April 20, 2024, to shareholders of record as of March 29, 2024. About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank pro
ARCHBOLD, Ohio, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) today reported financial results for the 2023 fourth quarter and twelve months ended December 31, 2023. 2023 Fourth Quarter Financial and Operating Highlights (on a year-over-year basis unless noted): 83 consecutive quarters of profitabilityNet income was $5.5 million, or $0.41 per basic and diluted shareAsset quality remains strong as nonperforming loans were 0.87% of total loansNet charge-offs to average loans were 0.03%Allowance for credit losses was 111.95% of nonperforming loansTier 1 leverage ratio was 8.20%Opened first bank office in Michigan and new regional headquarters in Fort Wayn
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