Farmers & Merchants Bancorp · OTC:FMCB
Farmers & Merchants Bancorp — Q3 2026 Earnings Presentation
25 slides from Farmers & Merchants Bancorp's earnings presentation, Oct 21, 2026
Slide 1: Third Quarter Update
FARMERS & MERCHANTS BANCORP 026 Third Quarter Update (OTCQX: FMCB) October 21, 2026 OVER 1%) YEARS STRONG
Slide 2: Our Story
MCB) Our Story Assets NIM ROE 14.75% RBC TCE 16.39%* Hi 11.45%
Slide 3: #1 Performing Bank in the U.S. – Trusted for Generations
(FMcB) #1 Performing Bank in the U.S. in 2022, #2 in 2023, #3 in 2024, and #7 in 2025.» sxzsnowommce onus Raskng Beking Sty TRUSTED FOR GENERATIONS (22028 Farmers & Merchants Bankof Central Califia, Al ights Reserved 2
Slide 4: Our Geographic Markets
FARMERS & MERCHANTS BANCORP y -B) Our Geographic Markets er es I Market Area Metrics: = + Population of 6.7 million ( dt + GDP of $559 billion @ + Median household income of $99,975 ©) + Diversified industries + Territory stretches 105 miles north to south and 60 miles east to west + Majority of the
Slide 5: Financial Highlights
FARMERS & MERCHANTS BANCORP Financial Highlights Three-Months Ended Nine-Months Ended September 30, ‘September 30, September 30, September 30, {Oollors in trousands, except per share dots) 2026 $ane 20.7078 2025 2026 2025 Netincome $ 25,082 $ m732 § Bms $ B85 S$ 8,782 Diluted earnings per common sha
Slide 6: History of Steady & Reliable Growth
FARMERS & MERCHANTS BANCORP 4 History of Steady & Reliable Growth Total Assets Hee g $19 $: | 26g Net Income eo sea seas Som i sas pied ‘$45.5 2 4 = se o5 088 7 TRUSTED FOR GENERATIONS ght
Slide 7: Long Term EPS Growth Track Record
FARMERS & MERCHANTS BANCORP 4 Long Term EPS Growth Track Record Diluted EPS $140.00 _ _ $116.61 $124.02 oa0s os $84.01 $80.00 $71.18 $74.03 $60.00 $40.00“ s57.05 $28.49 $29.99 $30.93 | i i i $20.00 a9 | ii $0.00 OUOCCON OREN TRUSTED FOR
Slide 8: Top Tier TBV Growth
FARMERS & MERCHANTS BANCORP 4 Top Tier TBV Growth Tangible Book Value per Common Share “) $007.24 $932.14 $900 $800.52 $200 $717.05 $700 goss 04 13? $600 $517.28 $500 $445.72 $400 $345 63 $967.87 $376.10 i 94 9297.99 991848 $300 i a J 93 | $200 $100 oe s & 32 gO he SF KF PK SS TRUSTED FOR G RATIONS
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights Assets $52 2001 2022 202320242025 Sept 26 Deposits $50, $50 Sag ga saz 2022203 2ars—— 2025S 26 Gross Loans & Leases $32 20120222023 2028-2025 Sept 26 $463.1 2021 202220232024 2025 Sept-26. OVER
Slide 10: Earnings Highlights
FARMERS & MERCHANTS BANCORP AZ Earnings Highlights Net Income 083 $885 $93.6 suo $120 $754 a $663 $100 80 $60 a0 $20 $10 so 2001 202220232024 2025 Sept 26 ID Net Interest Margin 709% 52.00% ae sex 608% 6.06% 6.10% — so.00% aaa 430% 420% tom 477% 4.05% 48.00% sos adm 38M 46.00% 208% 138% 2% 1.208 ee
Slide 11: Strong Returns and Capital Position
FARMERS & MERCHANTS BANCO. AZ Strong Returns and Capital Position 13% 168% 14% 126 Return On Average Assets 168% hex US i | 2270032 aS Tangible Common Equity Ratio” 160% 350% 100% Return On Average Equity 17.95% 166% 151% ] I ji j por 202 0s Sent Regulatory Capital Ratios 15.2% 7s.19% 482%, Es 72.30
Slide 12: Strong Liquidity Position
FARMERS & MERCHANTS BANCORP 4 -B) Strong Liquidity Position Borrowing Capacity Investment Portolio 204 Zaz Se 1 SBI gaa sao . 3 su ee fae " sus : $100 ste sre oe Ca — samo sus so sw soo so col port 2022, 2320282025 Sept 26, a © aa ama am aa rors Sentt6 Cash & AFS Investments to Total Assets roam 328
Slide 13: Composition of Loans & Deposits
PA Composition of Loans & Deposits Gross Loans and Leases $3.8 billion Deposits $5.0 billion + Loan composition — 54% fixed; 46% variable + YTD cost of average total deposits 1.19% + Loan-to-deposit ratio - 75.70% + YTD cost of total interest bearing deposits - 1.73%
Slide 14: Agriculture & Ag RE Portfolios
Agriculture & Ag RE Portfolios ‘Ag & Ag RE Portfolio of $956.3 million TRUSTED FOR GENERATIONS Ry 218 largest Ag lender in the US Uniquely located in the premier agricultural region of the Central Valley from a climate, soil and water perspective Ag lender for over 100 years Diversified Ag portfolio
Slide 15: CRE & Construction Portfolio
CRE & Construction Portfolio CRE & Construction Portfolio of $1.7 billion Investment CRE Portfolio of $916.9 million TRUSTED FOR GENERATIONS Rea state Loansby County 25.2% of Oustandngs CRE & Construction portfolio represents 44.1% of total loan Portfolio as of 9/30/26 + Operate well below the regul
Slide 16: C&I, Consumer, & Leasing Portfolios
C&I, Consumer, & Leasing Portfolios — C&I Outstandings of $562.4 million Consumer Outstandings of $409.3 million Lease Portfolio by Equipment Category - $175.2 million + Two non-performing Cal loans for $1.6 million as of 9/30/26 + One non-performing consumer loan for $205,000 as of 9/30/26 + One no
Slide 17: Strong Credit Quality
FARMERS & MERCHANTS BANCORP 4 Strong Credit Quality + Net charge-offs of $4.2 million over the last 10 years (2016-2025) + Net charge-offs of $1.6 million, or 0.04% of average loans and leases YTD 2026; net charge-offs of $1.8 million, or 0.05% for 2025 + Non-performing loans of $4.6 million, or 0.1
Slide 18: Shareholder Returns
FARMERS & MERCHANTS BANCORP y Shareholder Returns + Average annual total shareholders’ return of 12.74% over the last 29 years; through 12/31/25 + Annual cash dividend growth rate of 11.11% over the last 29 years; through 12/31/25 + Since 12/31/19 reduced the number of outstanding shares by 8.13% th
Slide 19: Awards & Recognition
Awards & Recognition Es Forbes “iy 2022 #1 — Best Performing Bank in the U.S. wi Aandi my 2026 2025 2023 ‘a Asset Gases Ping 2 of 2023 =a) #1 Best Bank #5 Dividend Champion #4 Community Bank 2023 in Califomia ape Nie paraoe in the U.S. #2 — Best Performing Bank in the U.S. 2022 pee pat eas Assets of
Slide 20: Future Locations
Future Locations Downtown Walnut Creek — 1823 N. Main St. Elk Grove — Corner of Laguna and Big Horn (Q4-2026) (2028) Lafayette — 3529 Mt. Diablo Boulevard (03-2027) Livingston — 503 Main St. (Q1-2027) Lockeford — 19000 E. Highway 12 (Q1-2027) TED FOR GENERATIONS
Slide 21: Why FMCB
FARMERS & MERCHANTS BANCORP Why FMCB * Consistent earnings growth and superior shareholder returns * Steady and strong growth in tangible book value per common share ¢ History of 91 consecutive years of dividends with 61 years of increases « Unique expertise in Ag lending results in a more diversifi
Slide 22: Appendix
FARMERS & MERCHANTS BANCORP AZ Appendix TRUSTED FOR GENERATIONS
Slide 23: Non-GAAP Measurements
FARMERS & MERCHANTS BANCORP y Non-GAAP Measurements Tangible Common Equity Ratio and December 31, September 30, Tangible Book Value Per Common Share 2021 2022 2023 2024 2025 2026 (Dollars in thousands, except share and per share amounts) Shareholders’ equity S 463,136 $ 485,308 $ 549,755 $ 573,072 S
Slide 24: Forward-Looking Statements
Forward-Looking Statements This presentation may contain certain forward-looking statements that are based on management's current expectations regarding the Company's financial performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or cu
Slide 25: F&M Bank – Where Banking is Easy!
FARMERS & MERCHANTS BANCORP y Fe&MBANK Where Banking is Easy! TRUSTED FOR GENERATIONS
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