Farmers & Merchants Bancshares, Inc. (FMFG) Form 10-Q — Aug 11, 2026
Farmers and Merchants Bancshares reported second-quarter 2026 net income of $1.9 million, or $0.58 per diluted share, up from $1.2 million, or $0.38, a year earlier. Net income for the first six months of 2026 rose to $3.7 million from $2.4 million in the same period of 2025. Net interest income drove the improvement, climbing to $6.8 million from $6.0 million in the quarter as the net yield on interest-earning assets expanded to 3.27% from 3.03%. The company recorded no provision for credit losses versus $238 thousand a year ago, and non-accrual loans were 0.00% of the loan portfolio.
Key figures
- Eps
- 0.58
- Net Income
- 1896000
- Debt Amount
- 12500000
- Total Assets
- 874212000
- Cash Position
- 55486000
- Interest Rate
- 7.875
- Maturity Date
- September 25, 2035
- Shares Outstanding
- 3262958
- Net loans usd
- 636549000
- Fhlb advances usd
- 57700000
- Total deposits usd
- 725125000
- Watch list loans usd
- 42100000
- Nonaccrual loans ratio
- 0.00%
- Q2 2025 net income usd
- 1199000
- Q2 2026 net income usd
- 1896000
- Uninsured deposits usd
- 107400000
- Stockholders equity usd
- 67594000
- Subordinated notes terms
- 7.875% fixed until Sept 26, 2030, then 3M Term SOFR + 458bps
- Six month 2025 diluted eps
- 0.74
- Six month 2026 diluted eps
- 1.14
- Effective tax rate six months
- 25.1%
- Six month 2025 net income usd
- 2363000
- Six month 2026 net income usd
- 3721000
- Gross unrealized losses afs usd
- 17886000
- Q2 2026 net interest income usd
- 6775000
- Allowance for credit losses ratio
- 0.70%
- Q2 2026 provision for credit losses
- 0
- Net yield on interest earning assets
- 3.27%
- Six month 2026 net interest income usd
- 13547000
AI analysis
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