Recent Updates — FMFG

Farmers and Merchants Bancshares, Inc. reported net income of $5.7 million, or $1.76 per share, for the nine months ended September 30, 2026, compared to $4.1 million, or $1.28 per share, in the same period last year. For the third quarter, net income was $2.0 million, or $0.62 per share, versus $1.7 million, or $0.53 per share, in Q3 2025. Net interest income increased by $2.9 million for the nine-month period due to a widening net yield on interest-earning assets of 3.32% compared to 2.98% in 2025. The company recorded no provision for credit losses in 2026, whereas it recorded a $595 thousand provision in 2025. Total assets decreased slightly to $865.4 million from $872.0 million at year-end 2025, while loans increased to $655.0 million. The company operates as a financial holding company for Farmers and Merchants Bank, a Maryland-chartered community bank serving Carroll and Baltimore Counties.

On September 21, 2026, the Board of Directors elected Mark C. Krebs as a Class I director for both Farmers and Merchants Bancshares, Inc. and its wholly-owned subsidiary, Farmers and Merchants Bank. Mr. Krebs, age 66, previously served as Treasurer and CFO from August 2016 until his retirement on June 30, 2025, after which he advised the Board starting September 15, 2025. He has been appointed to the Asset/Liability, Investor Relations, and Nominating Committees and will receive standard non-employee director compensation. This appointment brings former executive leadership back into a governance role within the community banking sector.

Farmers and Merchants Bancshares, Inc. reported net income of $3.7 million, or $1.14 per common share, for the six months ended June 30, 2026, a significant increase from $2.4 million, or $0.74 per share, during the same period in 2025. For the three months ended June 30, 2026, net income was $1.9 million, or $0.58 per share. The company's annualized return on average equity for the six-month period rose to 11.23% from 8.18% in 2025. Net interest income for the first half of 2026 increased due to a widening net yield on interest-earning assets of 3.27%. Total assets reached $874.2 million as of June 30, 2026. The company is a financial holding company that operates a community bank.