Press Release: Farmers & Merchants Bancorp (FMCB) Reports Record Third Quarter 2024 Earnings

Dow Jones10-17
Total deposits             4,708,682       4,597,055       4,748,767       4,708,682       4,748,767 
Borrowings                         -               -               -               -               - 
Subordinated debentures       10,310          10,310          10,310          10,310          10,310 
Total shareholders' 
 equity                   $  602,696      $  576,220      $  530,623      $  602,696      $  530,623 
 
Loan-to-deposit ratio          78.87%          80.32%          75.13%          78.87%          75.13% 
Percentage of checking 
 deposits to total 
 deposits                      50.01%          48.60%          51.72%          50.01%          51.72% 
 
Capital ratios 
(Bancorp) (1) 
Common equity tier 1 
 capital to 
 risk-weighted assets          13.47%          13.09%          12.48%          13.47%          12.48% 
Tier 1 capital to 
 risk-weighted assets          13.70%          13.32%          12.72%          13.70%          12.72% 
Risk-based capital to 
 risk-weighted assets          14.95%          14.58%          13.97%          14.95%          13.97% 
Tier 1 leverage capital 
 ratio                         11.32%          10.66%          10.22%          11.32%          10.22% 
Tangible common equity 
 ratio (2)                     10.91%          10.72%           9.64%          10.91%           9.64% 
 
(1) Capital information 
is preliminary for 
September 30, 2024 
(2) Non-GAAP 
measurement 
 
Non-GAAP measurement 
reconciliation: 
                          September 30,                   September 30, 
(Dollars in thousands)         2024       June 30, 2024        2023 
-----------------------   --------------  --------------  -------------- 
 
Shareholders' equity      $  602,696      $  576,220      $  530,623 
Less: Intangible assets       13,007          13,145          13,563 
Tangible common equity    $  589,689      $  563,075      $  517,060 
                           =========       =========       ========= 
 
Total assets              $5,418,132      $5,267,485      $5,375,375 
Less: Intangible assets       13,007          13,145          13,563 
                                           ---------       --------- 
Tangible assets           $5,405,125      $5,254,340      $5,361,812 
                           =========       =========       ========= 
 
Tangible common equity 
 ratio (1)                     10.91%          10.72%           9.64% 
 
(1) Tangible common 
 equity divided by 
 tangible assets

(END) Dow Jones Newswires

October 16, 2024 17:27 ET (21:27 GMT)

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