LODI, Calif., May 06, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB), the parent company of Farmers & Merchants Bank of Central California (F&M Bank), is pleased to announce that F&M Bank has been ranked 4th on S&P Global Market Intelligence's “Top 50 List of Best-Performing Community Banks” in the US with assets between $3 billion and $10 billion. S&P Global Market Intelligence ranks financial institutions based on several key factors including financial returns, growth, and
First Quarter 2024 Highlights Net income of $22.7 million, or $30.56 per share;Achieved return on average assets of 1.71% and return on average equity of 16.33%;Strong liquidity position with $738.4 million in cash, $239.9 million in available-for-sale investment securities and a borrowing capacity of $1.9 billion as of March 31, 2024;Strengthening capital position with a total risk-based capital ratio of 14.23%, common equity tier 1 ratio of 12.75%, tier 1 leverage ratio of 10.85% and a tangibl
Full Year 2023 Highlights Record net income of $88.3 million, or $116.61 per share, up $13.2 million, or $20.06 per share from the prior year; resulting in increases of 17.61% and 20.78%, respectively;Improved net interest margin to 4.30% from 3.81% in 2022; cost of average total deposits of 0.80%;Achieved return on average assets of 1.68% and return on average equity of 17.05%;Total assets at year-end were steady at $5.3 billion;Loans and leases held for investment at year-end were $3.65 billio