Farmers & Merchants Bancorp · OTC:FMCB
Farmers & Merchants Bancorp — Investor Presentation (July 2026)
25 slides from Farmers & Merchants Bancorp's investor presentation, Jul 23, 2026
Slide 1: 2026 Mid-Year Update
(OTCQX: FMCB) July 23, 2026 2026 Mid-Year Update
Slide 2: Our Story
Our Story Founded in 1916; Headquartered in Lodi, CA Serving Central California; 33 locations; 378 employees Expanded into San Francisco Bay Area in 2013 Expertise in Ag Lending >100 years; 20th largest in US Unique premier region; CA 4th largest economy in the world Full complement of products & se
Slide 3: #1 Performing Bank in the U.S. in 2022, #7 in 2025
#1 Performing Bank in the U.S. in 2022, #2 in 2023, #3 in 2024, and #7 in 2025 (1) Source: Bank Director’s Magazine Annual “Ranking Banking” Study
Slide 4: Our Geographic Markets
Our Geographic Markets Market Area Metrics: Population of 6.6 million (1) GDP of $559 billion (2) Median household income of $99,975 (1) Diversified industries Territory stretches 105 miles north to south and 60 miles east to west Majority of the State’s watershed occurs in the Bank’s territory Sour
Slide 5: Financial Highlights
FARMERS & MERCHANTS BANCORP Financial Highlights Three-Months Ended ‘Six-Months Ended {Dollars in trousande, excepe per share deta) June 30,2026 March 31,2026 June 30, 2025 June 30,2026 June 30, 2025 Netincome $ 24,732 $ 24,071 $ 23,055 $ 48,803 $ 46,064 Diluted earnings per common share $ 3639 $ 35
Slide 6: History of Steady & Reliable Growth
History of Steady & Reliable Growth
Slide 7: Long Term EPS Growth Track Record
Long Term EPS Growth Track Record
Slide 8: Top Tier TBV Growth
Top Tier TBV Growth (1) Non-GAAP measurement – see Appendix for reconciliation
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights $60 sss $a $50 $45 $40 335 $30 325 $20 sis $10 2 2001 $55 sso $86 sas sao 335 $30 325 $20 sis S10 2001 TRUSTEL Assets 7 Se S53 53 Sa 2022023025 Deposits $50 Soa Sag sa Sa 202203 20s 225m 26 FOR GENERATIONS of Central Caibia. Al Fights Reserved $35 $30 325 $20 sis 510 $500 $4
Slide 10: Earnings Highlights
Earnings Highlights NIM is on a tax equivalent basis
Slide 11: Strong Returns and Capital Position
Strong Returns and Capital Position
Slide 12: Strong Liquidity Position
Strong Liquidity Position Investment portfolio as of 6/30/26: $1.6 billion Tax Equivalent Yield – 3.71% Weighted Average Life – 6.9 years Effective Duration – 5.1 years YTD purchases of $78.3M (Avg. Yield of 5.08%; WAL of 6.1 years); sold $1.3M No other borrowings as of 6/30/26 No brokered CDs as of
Slide 13: Composition of Loans & Deposits
Composition of Loans & Deposits As of June 30, 2026 Loan composition – 55% fixed; 45% variable Loan-to-deposit ratio – 73.07% YTD cost of average total deposits – 1.19% YTD cost of total interest bearing deposits – 1.73%
Slide 14: Agriculture & Ag RE Portfolios
Agriculture & Ag RE Portfolios 20th 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 Ag related lending is $948.3 billion or 25.6% of the loan portfol
Slide 15: CRE & Construction Portfolio
CRE & Construction Portfolio CRE & Construction portfolio represents 44.5% of total loan portfolio as of 6/30/26 Operate well below the regulatory thresholds of 100% for construction and 300% for total CRE; as of 6/30/26: Construction concentration – 17.6% Total CRE concentration – 166.3% Well-diver
Slide 16: C&I, Consumer, & Leasing Portfolios
C&I, Consumer, & Leasing Portfolios One non-performing C&I loan for $230,000 as of 6/30/26 No non-performing consumer loans or leases as of 6/30/26 Net charge-offs of $684,000 for C&I loans over the last 5 years from 2021 to 2025; net charge-offs of $176,000 YTD 2026 Net charge-offs of $140,000 for
Slide 17: Strong Credit Quality
Strong Credit Quality Net charge-offs of $4.2 million over the last 10 years (2016-2025) Net charge-offs of $122,000, or 0.003% of average loans and leases YTD 2026; net charge-offs of $1.8 million, or 0.05% for 2025 Non-performing loans of $2.7 million, or 0.07% of total loans and leases as of 6/30
Slide 18: Shareholder Returns
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% through 12/31/25 In 2025, repurchased
Slide 19: Awards & Recognition
Awards & Recognition F&M Bank is rated as one of the nation’s safest banksby nationally recognized bank rating firms(1) : BauerFinancial, Inc. – “5-Star, Superior Bank” & “Best of Bauer” The Findley Reports – “Super Premier Performer” VERIBANC® – “Blue Ribbon Bank Commendation of Excellence” (1) Bau
Slide 20: Future Locations
Future Locations Lafayette – 3529 Mt. Diablo Boulevard (Q3-2027) Downtown Walnut Creek – 1823 N. Main St. (Q4-2026) Elk Grove – Corner of Laguna and Big Horn (2028) Livingston – 503 Main St. (Q1-2027) Lockeford – 19000 E. Highway 12 (Q1-2027)
Slide 21: Why FMCB
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 diversified loan portfolio resulting in a low
Slide 22: Appendix
FARMERS & MERCHANTS BANCORP AZ Appendix TRUSTED FOR GENERATIONS
Slide 23: Non-GAAP Measurements
Non-GAAP Measurements (1) Tangible common equity divided by tangible assets. (2) Total common equity divided by common shares outstanding. (3) Tangible common equity divided by common shares outstanding. (4) In 2025, replaced Non-Qualified Retirement Plan with a Restricted Stock Plan
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: Farmers & Merchants Bancorp
FARMERS & MERCHANTS BANCORP y Fe&MBANK Where Banking is Easy! TRUSTED FOR GENERATIONS
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