Farmers & Merchants Bancorp Inc income statement
In fiscal 2025, Farmers & Merchants Bancorp Inc reported revenue of $121m, up 19.6% on the year before and net income of $33.3m, or $2.43 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 36 | 37 | 35 | 39 | 38 | 40 | 41 | 45 | 47 | 51 | 65 | 77 | 87 | 103 | 97 | 102 | 121 | 134 |
| Selling, general and administrative | 5 | 4 | 4 | 5 | 6 | 6 | 6 | 4 | 4 | 4 | 6 | 6 | 8 | 6 | 6 | 5 | 6 | 6 |
| Interest expense | 13 | 11 | 8 | 6 | 5 | 4 | 4 | 4 | 5 | 7 | 15 | 10 | 7 | 14 | 58 | — | — | — |
| Net interest income | 28 | 29 | 29 | 27 | 27 | 30 | 30 | 34 | 36 | 40 | 54 | 60 | 69 | 87 | 81 | 86 | 104 | 114 |
| Non-interest income | 8 | 8 | 7 | 12 | 11 | 10 | 11 | 11 | 11 | 11 | 12 | 17 | 18 | 16 | 16 | 16 | 17 | 20 |
| Non-interest expense | 23 | 23 | 22 | 24 | 24 | 25 | 26 | 27 | 29 | 32 | 41 | 44 | 54 | 58 | 67 | 69 | 77 | 78 |
| Provision for credit losses | 4 | 5 | 2 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 7 | 3 | 5 | 2 | 1 | 3 | 1 |
| Income before tax | 9 | 9 | 11 | 14 | 13 | 14 | 14 | 16 | 18 | 18 | 23 | 25 | 29 | 40 | 28 | 33 | 43 | 54 |
| Income tax | 2 | 2 | 3 | 4 | 4 | 4 | 4 | 5 | 5 | 3 | 4 | 5 | 6 | 8 | 6 | 7 | 9 | 11 |
| Net income | 7 | 7 | 9 | 10 | 9 | 10 | 10 | 12 | 13 | 15 | 18 | 20 | 23 | 33 | 23 | 26 | 33 | 43 |
| Diluted EPS | — | — | $0.91 | $1.04 | $1.93 | $2.08 | $1.12 | $1.27 | $1.38 | $1.61 | $1.66 | $1.80 | $2.01 | $2.46 | $1.67 | $1.90 | $2.43 | $3.13 |
| Diluted shares (average) | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 11m | 11m | 12m | 13m | 13m | 13m | 14m | 14m |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 27 | 28 | 30 | 31 | 32 | 32 | 34 | 35 |
| Selling, general and administrative | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 1 |
| Net interest income | 23 | 24 | 26 | 27 | 28 | 27 | 29 | 30 |
| Non-interest income | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 |
| Non-interest expense | 16 | 19 | 19 | 20 | 19 | 20 | 19 | 20 |
| Provision for credit losses | 0 | 1 | 1 | 1 | 1 | 0 | 0 | −0 |
| Income before tax | 11 | 9 | 10 | 11 | 13 | 12 | 15 | 14 |
| Income tax | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Net income | 8 | 7 | 8 | 9 | 10 | 10 | 12 | 12 |
| Diluted EPS | $0.61 | $0.51 | $0.56 | $0.64 | $0.71 | $0.70 | $0.86 | $0.84 |
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