Monitor next quarter for sustained margin expansion and loan growth, as the strong beat and raised dividend signal confidence in continued profitability. The stock may re-rate higher if this momentum persists.
Price Chart
Executive Summary
Farmers & Merchants Bancorp reported strong Q1 2026 earnings with net income up 37.8% year-over-year to $9.6 million ($0.70 EPS), beating consensus of $0.68. Net interest margin expanded 39 bps to 3.42%, and the company raised its quarterly dividend. The beat was driven by margin expansion and strong noninterest income, signaling continued profitability momentum.
Key Financial Metrics
Key Facts
- Q1 2026 EPS of $0.70 beat consensus of $0.68
- Net income increased 37.8% YoY to $9.6 million
- Net interest margin expanded 39 bps to 3.42%
- Cost of interest-bearing liabilities improved to 2.54% from 2.76%
- Declared quarterly dividend of $0.23 per share, a 4.0% increase
Financial Impact
EPS beat by $0.02 (4.4% above consensus), net income up $2.6 million YoY
Risk Factors
- Nonperforming loans increased to $11.1 million (0.42% of total loans)
- Net charge-offs to average loans remained at 0.01%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-170660 |
| Document: fmao-20260422.htm | 0001193125-26-170660 |
| Document: 0001193125-26-170660-index-headers.html | 0001193125-26-170660 |
| Document: 0001193125-26-170660-index.html | 0001193125-26-170660 |
| Document: 0001193125-26-170660.txt | 0001193125-26-170660 |
| 8-K Data (Synthetic) | 0001193125-26-170660 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | 8-K | $35.89 | awaiting T+1 | — | $37.45 (+4.35%) |
Oct 22, 2026 3d ago | Press Release | $35.89 | awaiting T+1 | — | $37.45 (+4.35%) |
Sep 29, 2026 26d ago | Press Release | $34.62 $34.91 | ▲ +0.84% | ▲ +0.66% | $37.45 (+8.17%) |
Aug 14, 2026 10w ago | Insider Cluster | $35.11 $35.03 | ▼ −0.23% | ▲ +0.24% | $37.45 (+6.66%) |
Aug 12, 2026 10w ago | Insider Cluster | $35.33 $35.11 | ▼ −0.62% | ▼ −0.42% | $37.45 (+6.00%) |
Aug 7, 2026 11w ago | Insider Cluster | $34.38 $35.06 | ▲ +1.98% | ▲ +2.30% | $37.45 (+8.93%) |
Aug 6, 2026 11w ago | Insider Cluster | $34.67 $34.14 | ▼ −1.55% | ▼ −1.52% | $37.45 (+8.01%) |
Aug 5, 2026 11w ago | Insider Cluster | $34.04 $34.67 | ▲ +1.87% | ▲ +1.26% | $37.45 (+10.03%) |
Aug 3, 2026 11w ago | Insider Cluster | $34.52 $33.92 | ▲ +1.75% | ▲ +1.55% | $37.45 (−8.48%) |
Jul 27, 2026 12w ago | Press Release | $34.44 $35.07 | ▲ +1.83% | ▲ +3.37% | $37.45 (+8.74%) |
US Market Status
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