Farmers and Merchants Bank Maryland (OTC: FMFG) is a community banking company that provides deposit, lending, and related financial services to retail and business customers in Maryland. The bank earns money primarily through net interest income, the spread between interest earned on loans and investment securities and interest paid on deposits and borrowings, supplemented by noninterest income from service charges, mortgage banking, SBA loan sales, and other fees. As of December 31, 2025, the bank operated eight locations including full-service offices in Upperco, Hampstead, Reisterstown, Westminster, Owings Mills, Greenmount, and Eldersburg, plus one satellite branch, serving a local consumer and small business customer base in Maryland's Carroll and Baltimore County markets. The bank also maintains a captive insurance subsidiary, formed in late 2016, structured to insure or reinsure certain risks faced by the bank.

Revenue model

Net interest income from loans and investment securities, funded by deposits and borrowings. Noninterest income from service charges on deposit accounts, mortgage banking income, SBA loan sale gains, bank-owned life insurance income, and other fees and commissions. Income statement line items disclosed in the 10-K filed 2026-03-26 for years ended December 31, 2025 and 2024; specific dollar totals were not legible in the filing excerpts provided.

Products and services

Checking accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, repurchase agreements, residential and commercial loans, SBA loans, mortgage banking, debit cards, online and mobile banking, remote check deposit, and access to the Allpoint surcharge-free ATM network (over 55,000 ATMs). Captive insurance subsidiary formed in late 2016 under IRC Section 831(b).

Customers and end markets

Local consumers and small businesses in Maryland, primarily in Carroll County and Baltimore County. Products are designed for personal banking needs. No disclosed customer concentration data in the filing excerpts.

Value-chain role

Community bank acting as deposit-gatherer and direct lender. Funds loans through retail deposits, FHLB of Atlanta advances, Federal Reserve Bank advances, repurchase agreements, and long-term debt. Holds available-for-sale investment securities with a cost basis of $136.1 million and market value of $118.7 million as of December 31, 2025.

Geographic exposure

Maryland, specifically Carroll County and Baltimore County. Branch locations as of the 10-K filed 2026-03-26: Upperco, Hampstead, Reisterstown, Westminster, Owings Mills, Greenmount (in-store, open seven days a week), Eldersburg, and one satellite branch.

Source: SEC 10-K, filed 2026-03-26

Industry: Savings Institutions, Not Federally Chartered Peers: Delhi Bank Corp Oxford Bank Corp PNC Financial Services Group Inc UNITED BANCSHARES INC/OH