Business
Farmers and Merchants Bancshares, Inc. Reports Earnings of $1.8 Million, or $0.56 per Share, for the Three Months Ended March 31, 2026
HAMPSTEAD, Md., April 24, 2026 (GLOBE NEWSWIRE) -- Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the quarter ended March 31, 2026 was $1.8 million, or $0.56 per common share (basic and diluted), compared to $1.2 million, or $0.37 per common share (basic and diluted), for the same period in 2025, representing a 57% increase in net income. The
About this update from Farmers And Merchants Bancshares, Inc.
[{"type":"text","content":"HAMPSTEAD, Md., April 24, 2026 (GLOBE NEWSWIRE) -- Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the quarter ended March 31, 2026 was $1.8 million, or $0.56 per common share (basic and diluted), compared to $1.2 million, or $0.37 per common share (basic and diluted), for the same period in 2025, representing a 57% increase in net income. The Company’s return on average equity during the quarter ended March 31, 2026 was 11.03% compared to 8.22% for the same period in 2025. The Company’s return on average assets during the quarter ended March 31, 2026 was 0.84% compared to 0.57% for the same period in 2025.","length":768,"tagName":"p"},{"type":"text","content":"Net interest income was $6.8 million for the quarter ended March 31, 2026, an increase of $1.3 million, or 23%, over the $5.5 million reported for the same period in 2025. The increase was due to a 34 basis point increase in the yield on earning assets to 5.37% for the three months ended March 31, 2026 compared to 5.03% for the same period in 2025. Average earning assets increased $44.5 million to $835.0 million for the quarter ended March 31, 2026. Average loans increased to $637.9 million for the quarter ended March 31, 2026, an increase of $44.2 million over the $593.7 million for the quarter ended March 31, 2025. The combination of higher yields on earning assets plus higher average earning asset balances was the primary reason for the increase. Also contributing to the increase in net interest income was the lower cost of funds in 2026. The average interest rate paid on interest bearing liabilities was 2.65% for the three months ended March 31, 2026, compared to 2.70% for the same period in 2025. Average interest bearing liabilities increased to $659.9 million, an increase of $9.9 million when compared to the $650.0 million reported for the three months ended March 31, 2025.","length":1198,"tagName":"p"},{"type":"text","content":"There was no provision for credit losses for the quarter ended March 31, 2026 versus a $30 thousand provision for credit losses for the quarter ended March 31, 2025. The Company’s loan portfolio continues to perform at a high level with zero non-accrual loans at March 31, 2026.","length":27...