Farmers & Merchants Bancorp: directors' dealings · United States · SEC (Form 4)

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc. (ticker: FMCB) is a U.S. bank holding company that trades on the U.S. public markets, commonly referenced by investors in the NYSE/NASDAQ universe. The company is headquartered in Archbold, Ohio, in the United States, and serves as the parent of Farmers & Merchants State Bank. Its franchise is built on a long-standing community-banking identity, with operating roots dating back to 1897, which gives the company a historically durable brand in its local markets. ([ir.fm.bank](https://ir.fm.bank/node/12586/pdf)) Operationally, FMCB is focused on relationship banking: commercial banking, retail banking, and a broader set of financial services for individuals, families, and businesses. Its lending mix includes commercial credit and commercial real estate, and management highlights a diversified CRE portfolio spanning industrial, multifamily, retail, hotel, office and other property types. That mix suggests a traditional regional-bank model rather than a capital-markets or fee-heavy banking profile. The company also emphasizes active credit monitoring, especially in potentially higher-risk sectors, which is important for assessing downside protection in a regional lender. ([ir.fm.bank](https://ir.fm.bank/node/12586/pdf)) From a competitive standpoint, Farmers & Merchants Bancorp appears positioned as a conservative, relationship-driven community bank with an emphasis on balance-sheet discipline, deposit loyalty, and long-term customer retention. Rather than pursuing rapid national expansion, the firm appears to compete through local knowledge, stable underwriting, and incremental market share gains in its core footprint. Management stated that it entered 2026 from a position of strength and is developing a new three-year strategic plan aimed at sustainable growth across its markets, a signal that the bank remains focused on measured expansion rather than aggressive risk-taking. ([ir.fm.bank](https://ir.fm.bank/node/12586/pdf)) Recent operating results were constructive. In its 2025 year-end update, the bank reported a net interest margin of 4.15%, which management described as one of the strongest in the industry. The improvement was supported by higher investment yields and a lower cost of deposits, while deposits themselves increased year over year. Non-interest income also improved, and management highlighted continued balance-sheet strength, including a solid capital position and controlled nonperforming loans at year-end 2025. ([fmbonline.com](https://www.fmbonline.com/_/kcms-doc/171/95992/MSR11094_2025Year-EndEarningsPress-Release.pdf)) For investors in France, Belgium and Switzerland, FMCB can be viewed as a classic U.S. regional banking story: a conservative community franchise, a stable deposit base, diversified commercial lending, and a shareholder-friendly capital-return profile. The key variables to watch remain credit quality, deposit pricing, loan growth, and the bank’s ability to preserve margin and earnings power through changing interest-rate conditions. ([ir.fm.bank](https://ir.fm.bank/node/12586/pdf))