---
title: "Farmers & Merchants Bancorp 10-Q: $32.1M operating income, EPS $0.70"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284621698.md"
description: "Farmers & Merchants Bancorp reported a strong quarterly performance with operating income of $32.1 million and net income of $9.578 million, translating to earnings per share of $0.70. Key drivers included a rise in net interest income to $27.1 million, supported by a 39-basis-point increase in net interest margin to 3.42%. Noninterest income also grew to $5.0 million. The company highlighted revenue growth, improved margins, and operational efficiencies as significant contributors to its financial success."
datetime: "2026-04-29T18:01:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284621698.md)
  - [en](https://longbridge.com/en/news/284621698.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284621698.md)
---

# Farmers & Merchants Bancorp 10-Q: $32.1M operating income, EPS $0.70

Farmers & Merchants Bancorp reported stronger quarterly results driven by higher loan yields and improved margins, with operating income of $32.1 million and net income of $9.578 million, or $0.70 per basic and diluted share. Net interest income rose to $27.1 million, supported by a 39-basis-point increase in net interest margin to 3.42%, while noninterest income increased to $5.0 million. The company cited increased loan sale gains, BOLI cash surrender proceeds and fee income as contributors to the top-line improvement.

**Financial Highlights**

-   **Net interest income**: $27.1 million, up $3.5 million year-over-year (driven by higher loan yields and lower funding costs).
-   **Noninterest income**: $5.0 million, up $0.838 million year-over-year (higher loan sale gains, BOLI cash surrender & fees).
-   **Operating income**: $32.1 million (net interest income plus noninterest income, as implied by reported components).
-   **Net income**: $9.578 million, up $2.626 million year-over-year (a 37.8% increase).
-   **Basic and diluted earnings per share**: $0.70, compared with $0.51 in the prior year period.
-   **Net interest margin**: Increased 39 basis points to 3.42% (reported as a driver of profitability).

**Business Highlights**

-   **Revenue growth & margin improvement**: Net interest income growth and a higher NIM drove stronger quarterly profitability.
-   **Deposit & funding shift**: Growth in core deposits, including higher NOW and savings balances, improved liquidity to support lending and operations.
-   **Channel & product momentum**: Increased mortgage applications and HELOC usage; rollout of CD/savings secured loan product and uptake of the Welcome Home grant program.
-   **Operational efficiency & staffing**: Ongoing focus on scaling efficiencies and digital upgrades; discontinuation of indirect lending to consolidate the consumer channel.
-   **Credit monitoring & portfolio actions**: Active monitoring of CRE and agriculture portfolios, management of the allowance for credit losses, and tighter underwriting amid macroeconomic uncertainty.

Original SEC Filing: FARMERS & MERCHANTS BANCORP INC \[ FMAO \] - 10-Q - Apr. 29, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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