FARMERS+M.BANCORP.(CAL.)

LODI, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), declared a year-end cash dividend of $9.30 per share, an increase of 5.68% over the cash dividends declared in May of 2024 and November of 2023. The cash dividend will be payable on January 2, 2025 to shareholders of record as of December 4, 2024. Total cash dividends declared in 2024 increased 5.85% to $18.10 per share compared with $17.10 declared in 2023. The Company's net income for the trailing twelve months through the third quarter of 2024 was $118.46 per share, up 3.79% over the same period a year earlier and results in a dividend payout ratio of 15.28%.» Mehr auf globenewswire.com

Farmers & Merchants Bancorp has consistently raised dividends for nearly 60 years and offers strong dividend growth potential, making it a solid long-term buy. The bank demonstrated resilience with 2.4% deposit growth and 0.6% loan growth in Q3 2024, outperforming many regional peers. Net interest margin improved to 4.07%, driving net interest income to $52 million, while maintaining industry-leading asset quality and a strong efficiency ratio of 47.6%.» Mehr auf seekingalpha.com

Third Quarter 2024 Highlights Record net income of $22.1 million, or $29.96 per share; up 2.50% on a per share basis from third quarter 2023; Achieved a return on average assets of 1.65% and a return on average equity of 15.03%; Solid liquidity position with $1.5 billion in cash and investment securities and a borrowing capacity of $2.1 billion with no outstanding borrowings as of September 30, 2024; Continued growth in capital with a total risk-based capital ratio of 14.95%, common equity tier 1 ratio of 13.47%, tier 1 capital ratio of 13.70% and a tangible common equity ratio of 10.91%; Credit quality remains strong with a total allowance for credit losses of 2.11%. LODI, Calif.» Mehr auf globenewswire.com