Farmers and Merchants Bank Q2 net income more than doubles; co sets $10 mln buyback
FMBL•Outlook
Farmers and Merchants Bank said it continues to focus on credit quality and thoughtful loan growth in the second half of 2026.
The company said steady Federal Reserve rates support net interest margin expansion, and it expects strong capital ratios to remain above regulatory requirements.
Margin and drivers
The US regional bank said its net interest margin improved to 2.81% from 2.42% a year ago.
The company said the increase in interest and dividend income from loans and investment securities drove growth in net interest income. Non-interest income rose sharply, mainly due to higher "other income", and a recapture of provision for credit losses contributed to higher net income.
Q2 results and buyback plan
Farmers and Merchants Bank said second-quarter net income more than doubled from a year earlier, while the company approved a new $10 million stock repurchase plan through year-end.
| Metric | Actual |
|---|---|
| Q2 EPS | $256.32 |
| Q2 Net Income | $35.54 mln |
| Q2 Basic EPS | $259.04 |
| Q2 Pretax Profit | $46.98 mln |
