FARMERS+M.BANCORP.(CAL.)

Full Year 2024 Highlights Record full year net income of $88.5 million, or $121.02 per share, up from $116.61 per share from the prior year; resulting in an increase of 3.78%; Record fourth quarter net income of $21.8 million, or $31.11 per share; up from $21.4 million, or $28.55 per share in the fourth quarter 2023; Net interest margin of 4.05%; loan yield of 6.08% and cost of average total deposits of 1.35%; Effective management of operating expenses with an efficiency ratio of 46.24%; Achieved return on average assets of 1.64% and return on average equity of 15.49%; Total assets at year-end grew slightly to $5.37 billion from $5.31 billion; Loans and leases held for investment and total deposits both grew modestly during 2024; year-end balances were $3.69 billion and $4.70 billion, respectively; Strong liquidity position with $212.6 million in cash, $1.2 billion in investment securities of which $464.4 million are available-for-sale and a borrowing capacity of $2.1 billion with no outstanding borrowings as of December 31, 2024; Strong capital position with a total risk-based capital ratio of 14.51%, common equity tier 1 ratio of 13.02%, tier 1 leverage ratio of 10.95% and a tangible common equity ratio of 10.46%; all increases from the prior year-end; Credit quality remains strong with net charge-offs for the year of $0.7 million; $0.9 million of non-performing loans or leases at year-end; and a total allowance for credit losses of 2.11%. LODI, Calif.» Mehr auf globenewswire.com

LODI, Calif., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) announced today that Deborah Skinner was appointed to the Board of Directors effective January 15, 2025. Ms. Skinner served as Executive Vice President and Chief Administrative Officer of the Company for 24 years until her retirement from the Company on December 31, 2024.» Mehr auf globenewswire.com

LODI, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) announced today that Calvin (“Kelly”) Suess, the Company's longest serving current member of the Board of Directors, has tendered his resignation effective at the next Board of Directors Meeting to be held on January 14, 2025 after having served on the board for 35 years.» Mehr auf globenewswire.com