Merchants & Marine Bancorp FY26 H1 net income available to common shareholders more than doubled to $11.37 million; revenue rose 109.8% to $53.31 million
MNMB•Board approves share repurchase program
The board authorized a share repurchase program for up to 3% of outstanding common stock, running through June 30, 2027.
Balance sheet expanded after Farmers-Merchants Bank acquisition
Total assets climbed 42.12% to USD 1.35 billion; net loans rose 42.12% to USD 677.13 million.
Total deposits increased 61.41% to USD 972.95 million, following the April 1 close of the Farmers-Merchants Bank acquisition.
First-half results more than doubled on acquisition-driven growth
Merchants & Marine Bancorp posted net income available to common shareholders of USD 11.37 million, swinging from USD 874,497 a year earlier.
Gross income more than doubled to USD 53.31 million, up 109.8% year over year.
