Farmers & Merchants Bancorp, Inc. (FMAO) SEC Filings & Earnings Calls

CRE concentration at 48.2% of total loans, with office (4.6%) and hotel (6.5%) exposure

“CRE loans represented 48.2% of the Company’s total loan portfolio at September 30, 2026” · word for word

Agricultural loan concentration and nonaccrual risk

“Agricultural Real Estate nonaccrual loans remain higher than other loan segments primarily due to one loan that is in the work out process.” · word for word

Competitive pressure on deposit pricing

“Competition for deposits remains intense with most competitors offering special rates for specific terms.” · word for word

Nonperforming loans increased YoY from 0.14% to 0.27% though still low

“Nonperforming loans were $7.4 million, or 0.27% of total loans at June 30, 2026, compared to $3.7 million, or 0.14% of total loans at June 30, 2025”

CRE concentration at 48.4% of total loans; office exposure 5.0% of total loans

“CRE loans represented 48.4% of the Company’s total loan portfolio; Office 10.3% of CRE, 5.0% of total loans”

Potential rate sensitivity if NIM compression resumes

“Cost of interest-bearing liabilities improved to 2.56%, from 2.83% (benefiting from rate environment)”

Agricultural Credit Deterioration

“Nonaccrual loans were higher as of March 31, 2026 at $11.1 million as compared to $4.5 million as of March 31, 2025. The agricultural real estate and agricultural portfolio segments increased $5.1 million and $1.4 million, respectively.”

Geopolitical Conflict Impact on Input Costs

“The war in Iran has resulted in higher fuel and fertilizer costs.” · word for word

Interest Rate Sensitivity

“The Company's loan portfolio is 47.3% variable rate with 31.9% of total loans subject to repricing within the next three months and 41.7% of total loans subject to repricing within the next twelve months.” · word for word

Nonperforming loans increased from prior year.

“NPLs $11.1M (0.42% of loans) vs $4.5M (0.17%) a year ago.”

Interest rate risk from balance sheet repricing

“Interest rate risk is a large component of asset/liability management and is managed within the overall asset/liability framework. ... The Bank also looks at varying scenarios such as nonparallel shifts in the yield curve.” · word for word

Credit risk from loan portfolio

“Credit risk is addressed in formal loan proposals presented to the Loan Committee and the Board of Directors. ... each proposed loan, existing loan, or loan relationship has an assigned Loan Risk Rating based on credit factors, collateral adequacy, and financial strength of the loan relationship.” · word for word

Increased provision for credit losses

“Provision for Credit Losses - Loans 2,596 944 1,698” · word for word

Regulatory compliance costs

“Changes to the laws and regulations, both at the federal and state levels, can affect the operating environment of the Company and its subsidiaries in substantial and unpredictable ways.” · word for word

Nonperforming loans increased to 0.42% from 0.12%, driven by a few credits; still manageable.

“Nonperforming loans were $11.3 million, or 0.42% of total loans at December 31, 2025, compared to $3.1 million, or 0.12% of total loans at December 31, 2024.” · word for word

Agricultural credit risk from declining farm income

“Our agricultural businesses have performed well, but with a decline in farm income, they too will feel this effect.” · word for word

Tariff impact on commercial borrowers

“The economy, inflation and the impact from potential tariffs remain the largest concerns to commercial businesses within the Company's footprint.” · word for word

Nonaccrual loan increase

“Loans classified as nonaccrual were higher as of September 30, 2025 at $5.2 million as compared to $2.9 million as of September 30, 2024.” · word for word

Data processing expense increase

“Data processing and ATM expense increased a combined $963 thousand. 2024 included a much higher usage of flex credits that were provided in the renegotiation of the core processor contract. Smaller levels of flex credit will be realized going forward.” · word for word

Nonperforming loans increased to $5.2M (0.19% of total loans) from $2.9M (0.11%) a year ago.

“Nonperforming loans were $5.2 million, or 0.19% of total loans at September 30, 2025, compared to $2.9 million, or 0.11% at September 30, 2024.” · word for word