2015 Q2 Form 10-Q Financial Statement

#000119312515268342 Filed on July 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $8.289M $8.304M
YoY Change -0.18% 6.94%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.451M $1.444M
YoY Change 0.48% 0.42%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $570.0K $570.0K
YoY Change 0.0% 14.0%
% of Gross Profit
Operating Expenses $1.451M $1.444M
YoY Change 0.48% 0.42%
Operating Profit
YoY Change
Interest Expense $871.0K $970.0K
YoY Change -10.21% -18.07%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $3.553M $3.436M
YoY Change 3.41% -2.14%
Income Tax $956.0K $881.0K
% Of Pretax Income 26.91% 25.64%
Net Earnings $2.597M $2.553M
YoY Change 1.72% 2.04%
Net Earnings / Revenue 31.33% 30.74%
Basic Earnings Per Share $0.56 $0.55
Diluted Earnings Per Share $284.2K $275.7K
COMMON SHARES
Basic Shares Outstanding 4.608M shares 4.626M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $19.10M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $20.26M $19.96M
YoY Change 1.5% 9.16%
Goodwill $4.074M $4.074M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $942.6M $948.2M
YoY Change -0.6% 2.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $5.000M $5.600M
YoY Change -10.71% 19.15%
Deferred Revenue
YoY Change
Short-Term Debt $58.00M $70.10M
YoY Change -17.26% 28.15%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.000M $6.600M
YoY Change -9.09% 17.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.000M $6.600M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $825.7M $837.7M
YoY Change -1.44% 2.78%
SHAREHOLDERS EQUITY
Retained Earnings $116.7M $110.5M
YoY Change 5.65% 4.79%
Common Stock $13.10M $12.68M
YoY Change 3.35% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.17M $12.19M
YoY Change 8.0% 14.17%
Treasury Stock Shares 591.5K shares 585.3K shares
Shareholders Equity $116.9M $110.5M
YoY Change
Total Liabilities & Shareholders Equity $942.6M $948.2M
YoY Change -0.6% 2.81%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $2.597M $2.553M
YoY Change 1.72% 2.04%
Depreciation, Depletion And Amortization $570.0K $570.0K
YoY Change 0.0% 14.0%
Cash From Operating Activities $2.520M $6.900M
YoY Change -63.48% 81.58%
INVESTING ACTIVITIES
Capital Expenditures -$700.0K -$1.780M
YoY Change -60.67% 104.6%
Acquisitions
YoY Change
Other Investing Activities -$15.08M $5.750M
YoY Change -362.26% -132.18%
Cash From Investing Activities -$15.78M $3.970M
YoY Change -497.48% -121.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.760M -19.35M
YoY Change -49.56% -3.83%
NET CHANGE
Cash From Operating Activities 2.520M 6.900M
Cash From Investing Activities -15.78M 3.970M
Cash From Financing Activities -9.760M -19.35M
Net Change In Cash -23.02M -8.480M
YoY Change 171.46% -75.81%
FREE CASH FLOW
Cash From Operating Activities $2.520M $6.900M
Capital Expenditures -$700.0K -$1.780M
Free Cash Flow $3.220M $8.680M
YoY Change -62.9% 85.87%

Facts In Submission

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CY2014Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
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us-gaap Weighted Average Number Of Shares Restricted Stock
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us-gaap Interest Expense Deposits
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fmao Provision For Loan And Lease Losses And Recoveries
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fmao Available For Sale Securities Gross Realized Gain Loss Tax Expenses
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103000
fmao Other Non Interest Expense Recovery Related To Unfunded
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23000
dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
FARMERS & MERCHANTS BANCORP INC
dei Trading Symbol
TradingSymbol
FMAO
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
32869 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
4392000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4615846 shares
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
4615846 shares
dei Entity Central Index Key
EntityCentralIndexKey
0000792966
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.07
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The table below shows the remaining contractual maturity in the repurchase agreements.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="61%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="18" align="center">June&#xA0;30, 2015</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="18" align="center">Remaining Contractual Maturity of the Agreements</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Overnight&#xA0;&amp;<br /> Continuous</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Up&#xA0;to&#xA0;30&#xA0;days</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">30-90&#xA0;days</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Greater&#xA0;Than<br /> 90 days</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Repurchase Agreements US Treasury &amp; agency securities</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">35,979</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">16,961</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">52,940</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 0pt"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> </div>
dei Document Fiscal Period Focus
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us-gaap Interest Income Expense Net
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5256000
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5000
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246000
us-gaap Payments For Proceeds From Loans And Leases
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us-gaap Payments Of Dividends Common Stock
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us-gaap Interest Income Securities Us Treasury And Other Us Government
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1216000
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348000
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1879000
us-gaap Comprehensive Income Net Of Tax
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4724000
us-gaap Servicing Fees Net
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2783000
us-gaap Other Interest And Dividend Income
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16000
us-gaap Interest Income Securities State And Municipal
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905000
us-gaap Income Taxes Paid
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16473000
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794000
us-gaap Net Income Loss Available To Common Stockholders Basic
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4934000
us-gaap Net Income Loss
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4948000
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1739000
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us-gaap Available For Sale Securities Gross Realized Gains
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us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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us-gaap Asset Impairment Charges
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us-gaap Allowance For Loan And Lease Losses Write Offs
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us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
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us-gaap Information Technology And Data Processing
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us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
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us-gaap Taxes Excluding Income And Excise Taxes
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246000
us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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us-gaap Impaired Financing Receivable Average Recorded Investment
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us-gaap Interest Expense Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
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us-gaap Interest Expense Deposits
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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us-gaap Salaries And Wages
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fmao Re Evaluation Period For Real Estate
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fmao Fair Value Carrying Amount Of Dividend Payable Maximum Period
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fmao Delinquent Period For Charging Down Commercial And Agricultural Credits
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fmao Maximum Maturity Period Of Carrying Amount Interest Bearing Deposits
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