Quarterly ResultJul 23, 2026, 09:07 AM
Farmers & Merchants Bancshares H1 Net Income Up 54% to $3.7M; EPS $1.14
AI Summary
Farmers and Merchants Bancshares, Inc. reported strong financial results for the second quarter and first half of 2026. Net income for the first six months increased 54% to $3.7 million, or $1.14 per share, compared to the same period in 2025. Second quarter net income rose 58% to $1.9 million, or $0.58 per share. The company saw a significant increase in net interest income and recorded no provision for credit losses in the first half of 2026, contributing to improved profitability and asset quality.
Key Highlights
- H1 2026 net income was $3.7 million, a 54% increase from $2.4 million in H1 2025.
- H1 2026 EPS was $1.14, up 54% from $0.74 in H1 2025.
- Q2 2026 net income was $1.9 million, a 58% increase from $1.2 million in Q2 2025.
- Q2 2026 EPS was $0.58, up 53% from $0.38 in Q2 2025.
- Net interest income for H1 2026 increased by $2.1 million to $13.5 million.
- No provision for credit losses was recorded in H1 2026, compared to $268 thousand in H1 2025.
- Nonperforming assets to total assets improved to 0.19% at June 30, 2026, from 0.36% a year prior.
- Book value per share increased to $20.72 at June 30, 2026, from $20.02 at December 31, 2025.
Price Impact
More from FMFG