Farmers & Merchants Bancshares, Inc. (FMFG)
2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | |
|---|---|---|---|---|
| Other fees and commissions-Deposit Account | 178,000 | - | - | - |
| Other fees and commissions-Financial Service Other | 124,000 | - | - | - |
| Gain on insurance proceeds, net | - | - | - | - |
| Gain on settlement of fair value hedge | - | 94,000 | - | - |
| Mortgage banking income | 47,000 | 29,000 | 43,035 | 18,376 |
| Fair value adjustment of equity security | 1,000 | 9,000 | 19,808 | -2,430 |
| Loss on sale of debt securities | - | - | - | - |
| Bank owned life insurance income | 106,000 | 105,000 | 102,832 | 94,462 |
| Noninterest income | - | 278,000 | 290,502 | 295,474 |
| Loss on disposal of premises and equipments | - | - | -5,157 | - |
| Loss on sale of debt securities | - | - | - | -31,922 |
| Total noninterest income | 456,000 | 514,000 | 451,020 | 373,960 |
| Professional services | 218,000 | 173,000 | 166,485 | - |
| Other | 540,000 | 567,000 | 539,309 | 1,082,561 |
| Occupancy | 280,000 | 328,000 | 274,580 | 277,690 |
| Salaries | 2,191,000 | 2,207,000 | 1,878,411 | 1,993,580 |
| Federal deposit insurance corporation premiums | 117,000 | 199,000 | 90,898 | - |
| Furniture and equipment | 480,000 | 335,000 | 327,198 | 327,884 |
| Employee benefits | 531,000 | 382,000 | 548,892 | 441,546 |
| Advertising | 74,000 | 56,000 | - | - |
| Postage, delivery, and armored carrier | 64,000 | 78,000 | 72,206 | - |
| Other real estate owned expense/(income), net | 67,000 | 5,000 | - | - |
| Automated teller machine and debit card expenses | 168,000 | 168,000 | 173,244 | - |
| Total noninterest expense | 4,730,000 | 4,498,000 | 4,071,223 | 4,123,261 |
| Provision for (recovery of) credit losses | 238,000 | 30,000 | - | - |
| Securities sold under repurchase agreements | 12,000 | 17,000 | 13,069 | 13,035 |
| Long-term debt | 109,000 | 113,000 | 125,103 | 128,705 |
| Federal home loan bank advances | 110,000 | 12,000 | 64,713 | 31,929 |
| Federal reserve bank advances | - | - | 647,882 | 640,846 |
| Deposits | 4,071,000 | 4,249,000 | 3,910,840 | 3,231,886 |
| Total interest expense | 4,302,000 | 4,391,000 | 4,761,607 | 4,046,401 |
| Investment securities - tax exempt | 153,000 | 156,000 | 141,258 | 137,593 |
| Investment securities - taxable | 1,070,000 | 1,051,000 | 1,623,113 | 1,592,316 |
| Loans, including fees | 8,899,000 | 8,366,000 | 7,901,509 | 7,237,816 |
| Federal funds sold and other interest earning assets | 171,000 | 314,000 | 180,572 | 212,043 |
| Total interest income | 10,293,000 | 9,886,000 | 9,846,452 | 9,179,768 |
| Net interest income | 5,991,000 | 5,495,000 | 5,084,845 | 5,133,367 |
| Net interest income after provision for (recovery of) credit losses | 5,753,000 | 5,465,000 | 5,084,845 | 5,133,367 |
| Income before income taxes | 1,479,000 | 1,481,000 | 1,464,642 | 1,384,066 |
| Income taxes | 280,000 | 316,000 | 341,515 | 305,557 |
| Net income | 1,199,000 | 1,165,000 | 1,123,127 | 1,078,509 |
| Earnings per common share - basic (in dollars per share) | 0.38 | 0.37 | 0.36 | 0.35 |
| Earnings per common share - diluted (in dollars per share) | 0.38 | 0.37 | 0.36 | 0.35 |
| Us-gaap_weightedaveragenumberofdilutedsharesoutstanding | 3,175,511 | 3,173,365 | 3,145,061 | 3,121,261 |
| Weighted average shares outstanding (in shares) | 3,175,347 | 3,173,222 | 3,145,061 | 3,120,967 |