Monitor next quarter for sustainability of net interest margin expansion and any changes in credit quality as the bank continues its strategy of technology investment and growth.
Price Chart
Executive Summary
Farmers & Merchants Bancshares (FMFG) reported Q1 2026 earnings of $1.8 million ($0.56/share), a 57% YoY increase from $1.2 million ($0.37/share) in Q1 2025. Net interest income rose 23% to $6.8 million driven by higher yields and lower funding costs, while asset quality remained strong with zero non-accrual loans.
Key Financial Metrics
Key Facts
- Q1 2026 net income: $1.8 million ($0.56/share), up 57% YoY
- Net interest income: $6.8 million, up 23% YoY
- Yield on earning assets: 5.37% (up 34 bps YoY)
- Cost of interest-bearing liabilities: 2.65% (down 5 bps YoY)
- No provision for credit losses in Q1 2026 vs $30K in Q1 2025
- Zero non-accrual loans as of March 31, 2026
Financial Impact
Net income increased by $660K (57%) YoY, net interest income by $1.3M (23%) YoY
Risk Factors
- Unrealized loss on AFS securities increased to $13.2M (net of tax), which could pressure book value if rates remain elevated
- Deposits declined $9.2M QoQ due to brokered CD repayments, potentially impacting funding costs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-013241 |
| Document: fmfg20260423_8k.htm | 0001437749-26-013241 |
| Document: 0001437749-26-013241-index-headers.html | 0001437749-26-013241 |
| Document: 0001437749-26-013241-index.html | 0001437749-26-013241 |
| Document: 0001437749-26-013241.txt | 0001437749-26-013241 |
| 8-K Data (Synthetic) | 0001437749-26-013241 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $18.70 $18.70 | · 0.00% | ▲ +0.52% | $19.00 (+1.60%) |
Jul 23, 2026 13w ago | 8-K | $19.01 $19.01 | · 0.00% | ▼ −0.10% | $19.00 (−0.05%) |
Jun 16, 2026 19w ago | 8-K | $17.50 $17.88 | ▲ +2.17% | ▲ +1.13% | $19.00 (+8.57%) |
May 19, 2026 23w ago | 8-K | $16.93 $16.93 | · 0.00% | ▼ −0.19% | $19.00 (+12.21%) |
Apr 24, 2026 26w ago | 8-K | $17.97 $18.00 | ▲ +0.17% | ▲ +0.00% | $19.00 (+5.73%) |
US Market Status
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