Farmers & Merchants Bancorp, Inc.
Description
Farmers & Merchants Bancorp, Inc. operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio and Northeast Indiana. The company offers checking, savings, and time deposit accounts; certificates of deposit; and custodial services for individual retirement and health savings accounts. It also provides commercial, agricultural, and residential mortgage, as well as consumer lending products; loans for farmland, farm equipment, and livestock; operating loans for seeds, fertilizers, and feeds; home improvement loans; and loans for autos, trucks, recreational vehicles, and motorcycles. In addition, the company offers commercial real estate loans, such as lines of credit and machinery purchase loans. Further, it provides automated teller machine or interactive teller machine services; and online and mobile banking, bill-pay, on-line statement opportunities, and remote deposit capture or electronic deposit processing. Additionally, the company offers electronic transaction origination, such as wire and automated clearing house file transmittal services. Farmers & Merchants Bancorp, Inc. was founded in 1897 and is headquartered in Archbold, Ohio.
About
CEO
Mr. Lars B. Eller
Employees
446
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNCM
Address
307 North Defiance Street, Archbold, OH 43502, United States
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![Enlarged Chart]()
Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 29, 2025 | — | — | — | — |
| Jul 16, 2025 | — | — | — | — |
| Apr 16, 2025 | — | — | — | — |
| Feb 11, 2025 | 0.48 | — | — | — |
| Oct 31, 2024 | 0.41 | 0.48 | 0.07 | 17.07% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 4 | — | 4 |
| Average estimate | — | 0.43 | — | 1.87 |
| Low estimate | — | 0.37 | — | 1.85 |
| High estimate | — | 0.48 | — | 1.92 |
| Last year EPS | — | 0.39 | — | 1.74 |
[stock_revenue_estimate]
Growth estimates
Current qtr
17.680%
Next qtr. (Mar 2025)
10.900%
Current year
3.270%
Next year (Dec 2025)
7.780%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 94.69M | 100.37M | 84.83M | 74.87M | 63.57M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 49.66M | 41.73M | 38.19M | 32.15M | 29.89M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 28.35M | 40.48M | 29.50M | 25.21M | 22.76M |
| Tax provision | 5.57M | 7.96M | 6.00M | 5.11M | 4.36M |
| Net income | 22.79M | 32.52M | 23.50M | 20.10M | 18.40M |
| Basic EPS | 1.67 | 2.46 | 2.01 | 1.80 | 1.66 |
| Diluted EPS | 1.67 | 2.46 | 2.01 | 1.80 | 1.66 |
| Basic average shares | 13.64M | 13.21M | 11.66M | 11.15M | 11.09M |
| Diluted average shares | 13.64M | 13.21M | 11.66M | 11.15M | 11.09M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 22.79M | 32.52M | 23.50M | 20.10M | 18.40M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | 248,000 | 284,000 | 191,000 | 153,000 | 138,000 |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 143.66M | 87.53M | 146.40M | 102.93M | 54.45M |
| Other short term investments | 358.48M | 390.79M | 429.93M | 307.81M | 222.29M |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | 6.84M | 6.90M | 6.65M | 6.95M | 6.95M |
| Machinery furniture equipment | 30.43M | 26.45M | 23.16M | 20.95M | 22.05M |
| Construction in progress | 8,000 | 278,000 | — | — | 68,000 |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -42.30M | -39.46M | -33.83M | -30.96M | -31.56M |
| Goodwill | 178.36M | 176.27M | 164.03M | 98.00M | 97.31M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 5.65M | 3.55M | 3.16M | 3.32M | 2.63M |
| Investments and advances | 375.62M | 400.59M | 438.09M | 313.75M | 228.10M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | — | — | — | — | — |
| Accrued expenses | — | 19.24M | 17.41M | 14.23M | 14.08M |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 300.45M | 172.07M | 98.54M | 17.86M | 24.81M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 135.52M | 135.50M | 122.67M | 81.80M | 81.54M |
| Retained earnings | 221.08M | 212.45M | 189.40M | 173.59M | 160.08M |
| Other shareholders equity | -29.01M | -38.23M | -3.18M | 5.70M | 1.10M |
| Total shareholders equity | 316.54M | 298.14M | 297.17M | 249.16M | 230.26M |
| Additional paid in capital | — | — | — | — | — |
| Treasury stock | 11.04M | 11.57M | 11.72M | 11.93M | 12.46M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||||
| Net Income | 22.79M | 32.52M | 23.50M | 20.10M | 18.40M | 14.95M | 12.72M | 11.66M | 10.34M | 9.65M | 9.01M | 9.79M | 8.51M | 6.98M | 6.61M | 6.72M | 7.73M | 8.14M | 8.58M | 8.23M | 7.63M | 13.42M | 12.32M | 11.02M | 9.22M | 8.06M |
| Depreciation | 5.77M | 4.02M | 4.99M | 4.30M | 3.52M | 2.24M | 2.15M | 2.21M | 2.06M | 2.12M | 1.93M | 2.23M | 1.95M | 2.07M | 2.26M | 1.66M | 1.32M | 1.37M | 1.46M | 1.47M | 1.94M | 1.58M | 1.59M | 1.76M | 1.77M | 1.64M |
| Deferred Taxes | 2.23M | 171,000 | -1.81M | -1.69M | 292,000 | 471,000 | 21,000 | 55,000 | — | — | 34,000 | -126,000 | -165,000 | 210,000 | 142,000 | -39,000 | -170,000 | 282,000 | 387,000 | -14,000 | -126,000 | -836,000 | -38,000 | -730,000 | -457,000 | -542,000 |
| Stock-Based Compensation | 1.46M | 1.02M | 895,000 | 1.07M | 1.09M | 745,000 | 507,000 | 402,000 | 314,000 | 232,000 | 253,000 | 217,000 | -182,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -6.21M | 3.29M | 1.33M | 555,000 | -6.36M | -420,000 | 2.19M | -2.03M | 58,000 | 4.56M | 3.03M | -1.04M | 778,000 | -83.71M | -118.49M | 144,000 | -341,000 | 3.58M | -1.37M | 5.13M | 4.66M | -447,512 | -16.92M | -2.92M | 9.89M | 2.97M |
| Accounts Receivable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -5.85M | — | — | — | — |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -12,000 | — | — | — | — |
| Other Assets & Liabilities | -7.42M | -5.42M | 3.95M | -932,000 | 5.60M | -7.83M | -436,000 | -743,000 | 1.28M | 971,000 | 1.52M | 1.46M | -162,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating Cash Flow | 18.62M | 35.59M | 32.85M | 23.40M | 22.54M | 10.16M | 17.15M | 11.56M | 14.05M | 17.53M | 15.77M | 12.53M | 10.73M | -74.45M | -109.48M | 8.49M | 8.54M | 13.37M | 9.06M | 14.82M | 14.10M | 7.86M | -3.05M | 9.13M | 20.42M | 12.12M |
| Investing Activities | ||||||||||||||||||||||||||
| Capital Expenditures | -10.93M | -2.60M | -1.97M | -3.22M | -3.51M | -2.63M | -1.89M | -2.41M | -1.72M | -2.91M | -2.06M | -1.77M | -947,000 | -2.29M | -412,000 | -1.08M | -2.68M | -427,000 | -539,000 | -793,000 | -2.07M | -1.50M | -1.47M | -609,000 | -2.76M | -1.74M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | 9.07M | -12.36M | — | -2.09M | — | — | — | — | — | 15.22M | — | — | -1.14M | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -13.40M | -39.99M | -171.30M | -183.69M | -110.19M | -13.87M | -15.34M | -114.82M | -60.93M | — | -103.32M | -134.44M | -117.74M | -244.81M | -124.35M | -65.58M | -95.80M | -44.38M | -73.38M | -81.55M | -86.85M | -114.02M | -33.16M | -43.27M | -274.93M | -263.62M |
| Sale of Investments | 45.98M | 31.06M | 65.60M | 102.85M | 78.41M | 39.77M | 36.63M | 127.55M | 73.09M | 75.75M | 124.27M | 103.36M | 84.04M | 160.30M | 94.63M | 75.11M | 81.09M | 80.66M | 38.48M | 75.34M | 91.45M | 155.24M | 81.69M | 77.65M | 206.08M | 179.20M |
| Investing Cash Flow | 23.54M | -765,000 | -118.04M | -93.03M | -36.81M | 23.40M | 19.54M | 10.36M | 10.51M | 73.36M | 35.24M | -31.70M | -32.68M | -87.23M | -29.65M | 9.55M | -16.17M | -5.78M | -21.69M | 237,000 | 6.49M | -24.73M | -57.88M | -50.93M | -70.80M | -85.73M |
| Financing Activities | ||||||||||||||||||||||||||
| Long-Term Debt Issuance | 324.00M | 140.00M | 74.42M | — | — | — | — | — | 10.00M | — | — | — | — | 9.00M | — | 19.60M | 15.00M | — | 15.00M | — | 10.00M | — | — | — | — | — |
| Long-Term Debt Payments | -195.66M | -67.39M | -157,000 | -7.49M | -23.94M | -5.00M | -5.00M | — | — | -4.50M | -7.10M | -5.06M | -13.21M | -13.33M | -11.44M | -5.78M | -6.42M | -11.72M | -2.01M | -2.41M | -14.32M | — | — | — | — | — |
| Other Financing Charges | — | — | — | — | — | — | — | — | — | 4,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing Cash Flow | 116.78M | 62.02M | 66.26M | -15.06M | -30.66M | -10.45M | -9.64M | -4.31M | 5.25M | -8.94M | -12.06M | -9.55M | -17.09M | -8.62M | -15.41M | 13.91M | 11.87M | -1.11M | 8.82M | -9.35M | -23.91M | 41.51M | 52.81M | 5.77M | 24.44M | 28.16M |
| Other Cash Details | ||||||||||||||||||||||||||
| End Cash Position | 142.20M | 84.41M | 180.82M | 175.71M | 51.30M | 38.37M | 34.47M | 28.32M | 22.02M | 24.30M | 19.26M | 44.09M | 43.14M | 43.38M | 33.65M | 20.89M | 48.89M | 37.25M | 22.59M | 24.26M | 19.54M | 53.57M | 63.51M | 74.29M | 41.98M | 39.71M |
| Income Tax Paid | 5.42M | 7.70M | 6.15M | 6.47M | 3.95M | 5.16M | 5.10M | 5.01M | 3.08M | 4.29M | 3.24M | 4.09M | 1.85M | 1.88M | 2.73M | 2.45M | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 55.12M | 13.75M | 7.05M | 10.09M | 13.54M | 6.47M | 5.06M | 4.15M | 3.61M | 3.73M | 4.68M | 6.30M | 8.29M | 11.24M | 13.28M | 18.76M | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 11.22M | 38.07M | 32.78M | 24.16M | 20.42M | 8.11M | 15.76M | 10.02M | 13.09M | 16.26M | 14.93M | 12.44M | 14.26M | 9.14M | 5.37M | 7.59M | 5.87M | 12.95M | 8.68M | 13.90M | 17.41M | 6.38M | -4.83M | 8.09M | 18.33M | 10.60M |
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