2017 Q4 Form 10-K Financial Statement

#000119312518062514 Filed on February 28, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $10.87M $10.54M $10.12M
YoY Change 11.51% 9.85% 7.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.545M $1.587M
YoY Change 4.89% 5.31%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $250.0K $590.0K $680.0K
YoY Change -53.7% 3.51% 23.64%
% of Gross Profit
Operating Expenses $1.545M $1.587M
YoY Change 4.89% 5.31%
Operating Profit
YoY Change
Interest Expense $1.362M $1.333M $1.253M
YoY Change 25.99% 21.29% 19.68%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $5.019M $4.381M $4.521M
YoY Change 11.51% 4.91% 6.93%
Income Tax $1.583M $1.159M $1.298M
% Of Pretax Income 31.54% 26.46% 28.71%
Net Earnings $3.436M $3.222M $3.223M
YoY Change 7.58% 6.87% 8.37%
Net Earnings / Revenue 31.62% 30.58% 31.84%
Basic Earnings Per Share $0.37 $0.35 $0.35
Diluted Earnings Per Share $375.1K $351.5K $351.5K
COMMON SHARES
Basic Shares Outstanding 9.267M 9.253M 9.242M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $34.47M $49.10M $29.26M
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 $21.62M $21.47M $20.94M
YoY Change 0.75% 0.55% -1.66%
Goodwill $4.074M $4.074M $4.074M
YoY Change 0.0% 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 $1.107B $1.090B $1.066B
YoY Change 4.84% 4.38% 4.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $7.800M $7.200M $6.200M
YoY Change 16.42% -19.1% -4.62%
Deferred Revenue
YoY Change
Short-Term Debt $39.50M $35.60M $40.10M
YoY Change -43.81% -40.17% -47.17%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.000M $8.400M $7.300M
YoY Change 15.38% -16.0% -3.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.000M $8.400M $7.300M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $972.9M $957.3M $934.9M
YoY Change 4.57% 4.33% 4.3%
SHAREHOLDERS EQUITY
Retained Earnings $136.6M $134.3M $131.7M
YoY Change 6.81% 6.84% 6.59%
Common Stock $11.55M $11.39M $12.15M
YoY Change -3.36% -3.83% -0.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.16M $12.13M $12.27M
YoY Change -0.87% -1.02% -2.51%
Treasury Stock Shares $1.134M 1.133M shares 579.1K shares
Shareholders Equity $134.1M $132.9M $131.2M
YoY Change
Total Liabilities & Shareholders Equity $1.107B $1.090B $1.066B
YoY Change 4.84% 4.38% 4.4%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $3.436M $3.222M $3.223M
YoY Change 7.58% 6.87% 8.37%
Depreciation, Depletion And Amortization $250.0K $590.0K $680.0K
YoY Change -53.7% 3.51% 23.64%
Cash From Operating Activities $5.530M $3.680M $3.030M
YoY Change 97.5% -35.21% 84.76%
INVESTING ACTIVITIES
Capital Expenditures -$430.0K -$990.0K -$250.0K
YoY Change -15.69% 120.0% -68.75%
Acquisitions
YoY Change
Other Investing Activities -$33.46M -$2.860M -$7.280M
YoY Change 72.92% -80.75% -46.63%
Cash From Investing Activities -$33.88M -$3.850M -$7.530M
YoY Change 70.59% -74.85% -47.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.71M 20.02M -6.130M
YoY Change -1.22% 12.79% -159.75%
NET CHANGE
Cash From Operating Activities 5.530M 3.680M 3.030M
Cash From Investing Activities -33.88M -3.850M -7.530M
Cash From Financing Activities 13.71M 20.02M -6.130M
Net Change In Cash -14.64M 19.85M -10.63M
YoY Change 360.38% 144.46% 318.5%
FREE CASH FLOW
Cash From Operating Activities $5.530M $3.680M $3.030M
Capital Expenditures -$430.0K -$990.0K -$250.0K
Free Cash Flow $5.960M $4.670M $3.280M
YoY Change 80.06% -23.82% 34.43%

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CY2017Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From One To Two Years Of Balance Sheet Date
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CY2017Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
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CY2017Q4 us-gaap Loans And Leases Receivable Allowance
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CY2017Q4 us-gaap Mortgage Backed Securities Available For Sale Fair Value Disclosure
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CY2017Q4 us-gaap Real Estate Acquired Through Foreclosure
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CY2017Q4 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Tier One Leverage Capital
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CY2017Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
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CY2017Q4 us-gaap Tier One Risk Based Capital
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CY2017Q4 us-gaap Time Deposit Maturities Year Five
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CY2017Q4 fmao Cet1
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CY2017Q4 fmao Reserve Federal Reserve Bank
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CY2017Q4 fmao Deferred Tax Assets Net Unrealized Gain On Available For Sale Securities
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CY2017Q4 fmao Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds Based On Current Pledging
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CY2017Q4 fmao Allowance For Unfunded Loan Commitments And Letters Of Credit
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CY2017Q4 fmao Deferred Tax Liabilities Fhlb Stock Dividends
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CY2017Q4 fmao Impaired Loans Classified As Troubled Debt Restructured
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CY2017Q4 fmao Risk Weighted Assets Capital Conservation Buffer At Base Level
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CY2017Q4 fmao Common Equity Tier1 To Risk Weighted Assets
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CY2017Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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153000
CY2017 dei Amendment Flag
AmendmentFlag
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AssetImpairmentCharges
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CY2017 dei Document Fiscal Period Focus
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CY2017 dei Entity Registrant Name
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FARMERS & MERCHANTS BANCORP INC
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
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CY2017 dei Entity Central Index Key
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CY2017 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
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CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
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CY2017 dei Entity Filer Category
EntityFilerCategory
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FederalDepositInsuranceCorporationPremiumExpense
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CY2017 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
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0 pure
CY2017 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
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17903000
CY2017 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
57000
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
5102000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6045000
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-123000
CY2017 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
413000
CY2017 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
77137000
CY2017 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
1885000
CY2017 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
23000
CY2017 us-gaap Income Tax Reconciliation Deductions
IncomeTaxReconciliationDeductions
318000
CY2017 us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
IncreaseDecreaseInFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchaseNet
-30829000
CY2017 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1194000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5183000
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-8000
CY2017 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
187000
CY2017 us-gaap Interest Expense
InterestExpense
5127000
CY2017 us-gaap Interest Income Federal Funds Sold
InterestIncomeFederalFundsSold
69000
CY2017 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
41248000
CY2017 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
147000
CY2017 us-gaap Interest Expense Deposits
InterestExpenseDeposits
4483000
CY2017 us-gaap Interest Expense Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
497000
CY2017 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
35899000
CY2017 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
36121000
CY2017 us-gaap Interest Income Securities State And Municipal
InterestIncomeSecuritiesStateAndMunicipal
1193000
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 7%; MARGIN-TOP: 18pt"> <b>Reclassification</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 7%; MARGIN-TOP: 6pt"> Certain amounts in the 2016 and 2015 consolidated financial statements have been reclassified to conform with the 2017 presentation. These reclassifications had no effect on net income.</p> </div>
CY2017 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
13562000
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
21000
CY2017 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1213000
CY2017 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
37195000
CY2017 us-gaap Interest Income Securities Us Treasury And Other Us Government
InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment
2480000
CY2017 us-gaap Interest Paid
InterestPaid
5064000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-49782000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
19258000
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12598000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
36669000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
12720000
CY2017 us-gaap Occupancy Net
OccupancyNet
1489000
CY2017 us-gaap Noninterest Expense
NoninterestExpense
28731000
CY2017 us-gaap Noninterest Income
NoninterestIncome
10735000
CY2017 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
74000
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
146000
CY2017 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
124000
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
220000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
267000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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47000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
267000
CY2017 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
45000
CY2017 us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
57391000
CY2017 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4443000
CY2017 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
15335000
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
196000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1794000
CY2017 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
67197000
CY2017 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
ProceedsFromPaymentsForInInterestBearingDepositsInBanks
-2103000
CY2017 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
59520000
CY2017 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
23064000
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222000
CY2017 us-gaap Repayments Of Federal Home Loan Bank Borrowings
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5000000
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RestrictedStockExpense
507000
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ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate
0.0607 pure
CY2017 us-gaap Salaries And Wages
SalariesAndWages
12613000
CY2017 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 7%; MARGIN-TOP: 12pt"> The table below shows the remaining contractual maturity in the repurchase agreements December&#xA0;31, 2017.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="66%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="18" align="center">December&#xA0;31, 2017</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 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; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 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: #000000 1pt solid" valign="bottom" colspan="2" align="center">Up&#xA0;to&#xA0;30<br /> days</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">30-90<br /> days</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">Greater&#xA0;Than<br /> <u>90 days</u></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Federal funds Purchased</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">10,425</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">10,425</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Repurchase Agreements US Treasury&#xA0;&amp; agency securities</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">6,145</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">22,925</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">29,070</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">16,570</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">22,925</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">39,495</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div>
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
507000
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6311000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P6Y
CY2017 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Prepayment Speed
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed
0.104 pure
CY2017 us-gaap Servicing Fees Net
ServicingFeesNet
5609000
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
507000
CY2017 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
32000 shares
CY2017 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
902000
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-35000
CY2017 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
59000
CY2017 fmao Delinquent Period For Charging Down Commercial And Agricultural Credits
DelinquentPeriodForChargingDownCommercialAndAgriculturalCredits
P120D
CY2017 fmao Period For Federal Funds Purchased And Sold
PeriodForFederalFundsPurchasedAndSold
P1D
CY2017 fmao Delinquent Period Of Secured Consumer Loans
DelinquentPeriodOfSecuredConsumerLoans
P90D
CY2017 fmao Delinquent Period For Charging Down Consumer Loans
DelinquentPeriodForChargingDownConsumerLoans
P120D
CY2017 fmao Available For Sale Securities Gross Realized Gain Loss Tax Expenses
AvailableForSaleSecuritiesGrossRealizedGainLossTaxExpenses
16000
CY2017 fmao Allowance For Credit Losses Relates To Unfunded Loan Commitments
AllowanceForCreditLossesRelatesToUnfundedLoanCommitments
227000
CY2017 fmao Reclassification Of Gains Losses To Net Income
ReclassificationOfGainsLossesToNetIncome
0
CY2017 fmao Maximum Maturity Period Of Carrying Amount Interest Bearing Deposits
MaximumMaturityPeriodOfCarryingAmountInterestBearingDeposits
P90D
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0
CY2017 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
77000
CY2017 dei Trading Symbol
TradingSymbol
FMAO
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
9250825 shares
CY2017 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
88664 shares
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:7%; font-size:10pt; font-family:Times New Roman"> <b>Use of Estimates</b></p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:7%; font-size:10pt; font-family:Times New Roman"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of mortgage servicing rights, goodwill, available for sale investment securities, other real estate owned and impaired loans. Actual results could differ from those estimates.</p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:7%; font-size:10pt; font-family:Times New Roman"> The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral.</p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:7%; font-size:10pt; font-family:Times New Roman"> The Bank&#x2019;s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors&#x2019; ability to honor their contracts is dependent on local economic conditions in the agricultural industry.</p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:7%; font-size:10pt; font-family:Times New Roman"> While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Bank to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated.</p> </div>
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9162161 shares
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OtherNonInterestIncomeExpenseRecoveryRelatedToUnfunded
10000
CY2017 fmao Unpledged Securities
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94600000
CY2017 fmao Dividends May Be Paid Without Prior Regulatory Approval
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14000000
CY2017 fmao Number Of Advances From Fhlb
NumberOfAdvancesFromFhlb
1 Loans
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P90D
CY2017 fmao Maximum Time For Reevaluation
MaximumTimeForReevaluation
P12M
CY2017 fmao Unsecured Consumer Loans Credit Card Credits And Overdraft
UnsecuredConsumerLoansCreditCardCreditsAndOverdraft
P90D
CY2017 fmao Re Evaluation Period For Real Estate
ReEvaluationPeriodForRealEstate
P2Y
CY2017 fmao Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
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-8000
CY2017 fmao Purchased Of Treasury Stock Related To Stock Award During Period Value
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196000
CY2017 fmao Minimum Percentage Of Eligible Compensation On Pre Tax Basis For Eligible Employees To Save
MinimumPercentageOfEligibleCompensationOnPreTaxBasisForEligibleEmployeesToSave
0.01 pure
CY2017 fmao Percentage Of Likelihood Of Realization Of Recognized Tax Benefit Minimum
PercentageOfLikelihoodOfRealizationOfRecognizedTaxBenefitMinimum
0.50 pure
CY2016 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
419000
CY2016 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
550000
CY2016 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1146000
CY2016 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
156000
CY2016 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
323000
CY2016 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
598000
CY2016 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
10000
CY2016 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
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