FMCB · Farmers & Merchants Bancorp

Farmers & Merchants Bancorp (FMCB) reported strong first quarter 2026 results, with record net income of $24.1 million, a 7.6% increase from $22.4 million in the same quarter last year. Diluted earnings per share rose to $35.34 from $32.84. The company also announced a quarterly cash dividend of $5.35 per share, a 4.9% increase from the prior quarter's $5.10, reflecting confidence in its financial performance. Trailing twelve-month net income was $94.7 million, up from $88.7 million, and diluted EPS for the period was $136.49, a 10.7% increase. The dividend increase marks the 61st consecutive year of dividend growth, and the company has paid dividends for 91 consecutive years, maintaining its status as a Dividend King. Management attributed the results to strong financial performance and credit quality, with an allowance for credit losses of 2.12% and a delinquency ratio of 0.01%. Regulatory capital ratios remained robust, with a common equity tier 1 ratio of 14.23% and total risk-based capital ratio of 15.71%, all exceeding well-capitalized thresholds. The dividend is payable on July 1, 2026, to shareholders of record on June 12, 2026.