Farmers & Merchants Bancorp Inc
ir.fm.bankWhat Do They Do?
Provides loans, deposit accounts and digital banking services to individual and business customers in Ohio, Indiana and Michigan.
10-K for FY2025, filed Feb 27, 2026The Farmers & Merchants State Bank engages in general commercial banking and savings business including commercial, agricultural and…View ↗
The Bank also provides checking account services, as well as savings and time deposit services such as certificates of deposits. In…View ↗
The Company has one reportable operating segment, commercial banking. While our chief operating decision makers (CODM) monitor revenue…View ↗
How Do They Make Money?
Lends to commercial, agricultural, mortgage and consumer borrowers and earns interest; it also charges customers fees for account activity, transactions and services such as wire transfers. Transaction fees are charged after the transaction, while account-maintenance fees are charged monthly.
10-K for FY2025, filed Feb 27, 2026The Farmers & Merchants State Bank engages in general commercial banking and savings business including commercial, agricultural and…View ↗
The largest contributor to better profitability was the increase in the net interest margin from 2.72% to 3.28%, a 56-basis point increase…View ↗
Customer service fees – these include miscellaneous service fees and transaction-based fees charged for certain services, such as credit…View ↗
Other service charges and fees – these include service fees charged for deposit account maintenance and activity along with…View ↗
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by product or service (Noninterest income) ↗
$173.5M
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10-K for FY2025, filed Feb 27, 2026
$173.5M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Customer Service Fees
|
22%
FY2022: 33%
|
Customer Service Fees, FY2025
$1.4M Sources
|
|
Other Service Charges and Fees
|
78%
FY2022: 67%
|
Other Service Charges and Fees, FY2025
$5M Sources
|
Who Are Their Customers?
Serves individual and business clients through its banking centers and offers consumer and business online banking, including mobile banking and electronic transaction tools.
10-K for FY2025, filed Feb 27, 2026
Do Revenues Turn Into Profits?
Yes. It kept 19 cents of every revenue dollar as net income in FY2025 and turned 20 cents into free cash flow.
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 27, 2026
Open tableView ↗
Growing. Revenue grew 2.3x in 4 years, from $76.8M in FY2021 to $173.5M in FY2025, about 23% a year.
Insurance offering
The latest report describes an insurance agency offering products to bank customers, while the older report describes a captive insurance company; the company says the captive was dissolved.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 27, 2026Farmers & Merchants Bancorp, Inc. (Company) is a bank holding company incorporated under the laws of Ohio in 1985 and elected to become a…View ↗
Who Do They Compete With?
Competes with Huntington National Bank, Fifth Third Bank, PNC, Wells Fargo Bank, KeyBank, and JPMorgan Chase Bank
10-K for FY2025, filed Feb 27, 2026The Bank’s primary market includes communities located in the Ohio counties of Butler, Champaign, Defiance, Fulton, Hancock, Henry, Lucas…View ↗
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