FARMERS & MERCHANTS BANCORP INC Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue11,766  12,099  12,219  12,467  Cost of Revenue2,718  2,812  2,877  3,077  Gross Profit -  9,287  9,342  9,390  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative5,423  5,657  5,723  5,274  Non Recurring -   -   -   -  Others1,435  1,077  659  1,675  Total Operating Expenses -   -   -   -  Operating Income or Loss -  2,553  2,960  2,441  Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes2,190  2,553  2,960  2,441  Interest Expense502  615  597  680  Income Before Tax1,688  1,938  2,363  1,761  Income Tax Expense413  536  633  428  Minority Interest -   -   -   -  Net Income From Continuing Ops1,275  1,402  1,730  1,333  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   - ...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 10-Q, Quarterly Report

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS INTRODUCTION Farmers & Merchants Bancorp, Inc. (the "Company") was incorporated on February 25, 1985, under the laws of the State of Ohio. Farmers & Merchants Bancorp, Inc., and its subsidiary The Farmers & Merchants State Bank (the "Bank") are engaged in commercial banking. The executive offices of the Company are located at 307 North Defiance Street, Archbold 43502. As the new year began, the banking industry along with the rest of the business world continued to feel the impact of the slow and difficult economy. As lending rates continued downward the Bank found itself very active in making home mortgage real estate and home equity loans. Customers were taking advantage of the low interest rate and were refinancing their existing mortgages. This activity continued through the second quarter. While rates remain attractive, activity has slowed in the third quarter and is likely to continue to slow during the fourth quarter, especially as the tax credit disappears in November. The gain on sale of real estate to the secondary market through September 2009 was two and a half times as compared to the same time period of 2008. The Bank also chose to sell off a portion of the security portfolio, mainly securities that were outside the state of Ohio. The Bank replaced these securities with Ohio based securities to help support pledging to the Ohio Public accounts that are deposited with the Bank. The sales produced a favorable gain on securities for the Bank of almost $150 thousand for 2009. Two major factors to the lower profitability of 2009 for the Bank has been the increased FDIC assessment on deposits and the cost of increasing the loan loss allowance. FDIC increases constitutes a huge burden to community banks across the nation that have not participated in risky or questionable activities, but none-the-less must pay for those who did....
Click here to read the whole Article (external link)

Farmers & Merchants Bancorp, Inc. Declares 3rd Quarter Dividend

ARCHBOLD, Ohio, Sept. 18 /PRNewswire-FirstCall/ -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (OTC Bulletin Board: FMAO - News) the holding company of The Farmers & Merchants State Bank, with assets of approximately $800 million, at their last regular meeting on Friday, September 18, 2009 declared a third quarter dividend of eighteen cents ($.18) per share. The third quarter dividend is payable on October 20, 2009 to shareholders of record as of September 18, 2009. The Farmers & Merchants State Bank is a locally owned and operated community bank that has been serving Northwest Ohio and Northeast Indiana since 1897. The Farmers & Merchants State Bank provides commercial banking, retail banking and other financial services through its 18 office locations in Fulton, Defiance, Henry, Williams, Lucas, and Wood counties of Northwest Ohio. In Northeast Indiana they have offices located in DeKalb and Steuben counties.SAFE HARBOR STATEMENTFarmers & Merchants Bancorp, Inc. ("F&M") wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management's expectations and comments, may not be based on historical facts and are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21B of the Securities Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general an...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 10-Q, Quarterly Report

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS INTRODUCTION Farmers & Merchants Bancorp, Inc. (the "Company") was incorporated on February 25, 1985, under the laws of the State of Ohio. Farmers & Merchants Bancorp, Inc., and its subsidiary The Farmers & Merchants State Bank (the "Bank") are engaged in commercial banking. The executive offices of the Company are located at 307 North Defiance Street, Archbold 43502. As the new year began, the banking industry along with the rest of the business world continued to feel the impact of the slow and difficult economy. As lending rates continued downward the Bank found itself very active in making home mortgage real estate and home equity loans. Customers were taking advantage of the low interest rate and were refinancing their existing mortgages. This activity continued through the second quarter. While rates remain attractive, they have increased and this in turn will most likely slow the refinancing activty for the third quarter. The gain on sale of real estate loans in the secondary market for first half 2009 was two and a E1095half times the first half of 2008. The Bank also chose to sell off a portion of the security portfolio, mainly securities that were outside the state of Ohio. The Bank replaced these securities with Ohio based securities to help support pledging to the Ohio Public accounts that are deposited with the Bank. The sales produced a favorable gain on securities for the Bank in the first half of 2009. One major impact to the financial position for the Bank has been the increased FDIC assessment on deposits that have been and will continue to be charged in 2009. This increase effectively constitutes a huge burden to community banks across the nation that have not participated in risky or questionable activities, but none- the-less must pay for those who did. The additional special assessment levied in the second qu...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 10-Q, Quarterly Report

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS INTRODUCTION Farmers & Merchants Bancorp, Inc. was incorporated on February 25, 1985, under the laws of the State of Ohio. Farmers & Merchants Bancorp, Inc., and its subsidiary The Farmers & Merchants State Bank are engaged in commercial banking. On December 31, 2007 the Bank closed on a agreement to acquire Knisely Bank, Indiana, adding two more full service locations. The executive offices of Farmers & Merchants Bancorp, Inc are located at 307 North Defiance Street, Archbold, Ohio 43502. As the new year began, the banking industry along with the rest of the business world continued to feel the impact of the slow and difficult economy. As lending rates continued downward the Bank found itself very active in making home mortgage real estate and home equity loans. Customers were taking advantage of the low interest rate and were refinancing their existing mortgages. The gain on the sale of real estate loans in the secondary market was two and a half times the 2008's level for the first quarter. The Bank also chose to sell off a portion of the security portfolio, mainly securities that were outside the state of Ohio. The Bank replaced these securities with Ohio based securities to help support pledging to the Ohio Public accounts that are deposited with the Bank. The sales produced a favorable gain on securities for the Bank in the first quarter 2009. One major impact to the financial position for the Bank will be the increased FDIC assessment on deposits that will be charged in 2009. This increase effectively constitutes a penalty to the Bank as well as to other community banks across the nation for the questionable judgment of others in the finance and business communities. Liquidity remains high and overall the quarter had better earnings than first quarter 2008 and fourth quarter 2008. Table of Contents ITEM 2...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Critical Accounting Policy and Estimates The Company's consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, and the Company follows general practices within the financial services industry in which it operates. At times the application of these principles requires Management to make assumptions, estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. These assumptions, estimates and judgments are based on information available as of the date of the financial statements. As this information changes, the financial statements could reflect different assumptions, estimates and judgments. Certain policies inherently have a greater reliance on assumptions, estimates and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Examples of critical assumptions, estimates and judgments are when assets and liabilities are required to be recorded at fair value, when a decline in the value of an asset not required to be recorded at fair value warrants an impairment write-down or valuation reserve to be established, or when an asset or liability must be recorded contingent upon a future event. All significant accounting policies followed by the Company are presented in Note 1 to the consolidated financial statements. These policies, along with the disclosures presented in the notes to the consolidated financial statements and in the management discussion and analysis of financial condition and results of operations, provide information on how significant assets and liabilities are valued and how those values are determined for the financial statements. Based on the valuation techniques used and the sensitivity of financial statement amounts to assumptions, estimates and judgments underlying ...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 8-K, Other Events

Show all filings for FARMERS & MERCHANTS BANCORP INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for FARMERS & MERCHANTS BANCORP INC 16-Jan-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, ...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for FARMERS & MERCHANTS BANCORP INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for FARMERS & MERCHANTS BANCORP INC 29-Dec-2008Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for i...
Click here to read the whole Article (external link)

FARMERS & MERCHANTS BANCORP INC Files SEC form 10-Q, Quarterly Report

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS INTRODUCTION Farmers & Merchants Bancorp, Inc. was incorporated on February 25, 1985, under the laws of the State of Ohio. Farmers & Merchants Bancorp, Inc., and its subsidiary The Farmers & Merchants State Bank are engaged in commercial banking. On December 31, 2007 the Bank closed on a agreement to acquire Knisely Bank, Indiana, adding two more full service locations. During 2007, the Company operated another subsidiary, Farmers and Merchants Life Insurance which offered life and disability insurance to the Bank's credit customers. The subsidiary was dissolved at the end of 2007. The executive offices of Farmers & Merchants Bancorp, Inc are located at 307-11 North Defiance Street, Archbold, Ohio 43502. Farmers & Merchants Bancorp weathered a difficult quarter caused by the uncertainty in the economic markets. While its subsidiary, The Farmers & Merchants State Bank, is generally not involved in subprime consumer real estate mortgage markets, the Bank was still impacted by its effects on correspondent banks and competitors. Several competitors appeared to be dealing with liquidity issues and an inability to tap into other sources of funds than consumer deposits. The competition for depositor dollars forced deposit rates higher. The Bank did not match competitor rates and therefore saw a significant outflow from its Certificate of Deposit portfolio. With the drop in the prime lending rate, the Bank continues to feel pressure on its net interest margin. The pressure is impacting both factors of net interest income: asset yields and cost of funds. The rate for Federal Funds Sold / Purchased fluctuated greatly during the period providing additional pressure. ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS (Continued) The Bank remains a healthy, stable institu...
Click here to read the whole Article (external link)