Quarterly ResultMay 15, 2026, 09:07 AM
Farmers & Merchants Bancshares Q1 Net Income $1.83M, EPS $0.56
AI Summary
Farmers & Merchants Bancshares, Inc. reported a significant increase in net income for the first quarter of 2026, reaching $1.83 million, up 56.65% from $1.17 million in the prior year. This was primarily driven by a 23.24% rise in net interest income and a zero provision for credit losses. Total assets slightly decreased to $862.93 million, while total deposits also saw a minor decline to $711.30 million compared to December 31, 2025.
Key Highlights
- Net income increased by 56.65% to $1.83 million for Q1 2026.
- Basic earnings per common share rose 51.35% to $0.56 for Q1 2026.
- Net interest income grew 23.24% to $6.77 million in Q1 2026.
- Provision for credit losses was $0 in Q1 2026, down from $30 thousand in Q1 2025.
- Total assets decreased 1.04% to $862.93 million as of March 31, 2026.
- Total deposits decreased 1.27% to $711.30 million as of March 31, 2026.
- Noninterest-bearing deposits increased 5.01% to $122.97 million as of March 31, 2026.
- No loan modifications were made in Q1 2026, compared to one in Q1 2025.
Price Impact
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