Earnings ·
Reports Q3 net income up 30.3% to $11.5M, declares $0.01 special dividend
FMAOFarmers & Merchants Bancorp Inc
Farmers & Merchants Bancorp reported third-quarter net income of $11.5 million, or $0.84 per share, a 30.3% increase from the prior year period. The company also declared an additional $0.01 per share special dividend for the quarter. Net interest margin expanded by 17 basis points to 3.57%, while total loans grew 3.0% year-over-year to $2.74 billion. Farmers & Merchants Bancorp operates as a financial holding company and community bank serving Ohio, Indiana, and Michigan.