FMAO

EX-99

2 fmao-ex99.htm

EX-99

EX-99

Exhibit 99

Post Office Box 216

307 North Defiance Street

Archbold, Ohio 43502

NEWS RELEASE

Company Contact:

Investor and Media Contact:

Lars B. Eller

President and Chief Executive Officer

Farmers & Merchants Bancorp, Inc.

(419) 446-2501

leller@fm.bank

Andrew M. Berger

Managing Director

SM Berger & Company, Inc.

(216) 464-6400

andrew@smberger.com

Farmers & Merchants Bancorp, Inc. Reports

2026 Third-Quarter and Year-to-Date Financial Results

ARCHBOLD, OHIO, October 22, 2026, Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2026 third quarter and year-to-date ended September 30, 2026, on a consolidated basis.

2026 Third-Quarter Financial and Operating Highlights

(at September 30, 2026, and on a year-over-year basis unless noted)

• 94 consecutive quarters of profitability

• Net income increased 30.3% to $11.5 million, or $0.84 per basic and diluted share

• Strong profitability drives ROAA to 1.29%, compared to 1.05%

• Net charge-offs to average loans of 0.00%

• Tier 1 leverage ratio was 9.14%

• Cost of interest-bearing liabilities improved to 2.59%, from 2.83%

• Net interest margin increased by 17 basis points to 3.57%

• Efficiency ratio improved to 58.09%, compared to 63.11%

• Third quarter regular dividend per share increased 5.5% to $0.96 annualized

• Company declared an additional $0.01 per share special dividend, bringing total third-quarter payment to $0.250 per share

Lars B. Eller, President and Chief Executive Officer, stated, “2026 is shaping up to be a historic year of profitability and growth with year-to-date earnings per share increasing 39.8% to $2.39. Throughout the 2026 nine-month period, our team has worked hard to expand our net interest margin, control operating expenses, grow our balance sheet, and maintain excellent asset quality. We are encouraged by the progress we have made across these key priorities and believe we are well positioned to sustain our positive momentum through the remainder of 2026 and into 2027.”

Income Statement

Net income for the quarter ended September 30, 2026, was $11.5 million, compared to $8.9 million for the same period last year. Net income per basic and diluted share for the 2026 third quarter was $0.84, compared to $0.64 for the same period last year. Net income for the nine months ended September 30, 2026, was $32.9 million, compared to $23.5 million for the same period last year. Net income per basic and diluted share for the 2026 nine months was $2.39, compared to $1.71 for the same period last year.

Mr. Eller continued: “We believe F&M is well positioned to navigate a higher interest rate environment and capitalize on opportunities to further expand our net interest margin. With loan repricing opportunities extending through 2028, we believe we have a favorable backdrop to support interest income growth in the coming quarters and years. Combined

with our disciplined approach to deposit pricing and funding costs, we remain optimistic about our ability to maintain the significant improvement in net interest margin achieved over the past year.”

Deposits

At September 30, 2026, total deposits were $2.96 billion, an increase of 7.7%, or $210.6 million from September 30, 2025. For the three months ended September 30, 2026, F&M’s cost of interest-bearing liabilities was 2.59%, compared to 2.83% in the same period last year.

Loan Portfolio and Asset Quality

Total loans, net at September 30, 2026, increased 3.0%, or by $79.0 million to $2.74 billion, compared to $2.66 billion at September 30, 2025. The year-over-year increase was driven primarily by higher agricultural, commercial and industrial, and consumer real estate loans, partially offset by lower commercial real estate, consumer, and agricultural real estate loans.

F&M continues to closely monitor its loan portfolio with a particular emphasis on higher risk sectors. Nonperforming loans continue to normalize on a year-over-year basis and were $6.2 million, or 0.23% of total loans at September 30, 2026, compared to $7.4 million, or 0.27% of total loans at June 30, 2026, and $5.2 million, or 0.19% of total loans at September 30, 2025.

F&M maintains a well-balanced, diverse, and high performing CRE portfolio. CRE loans represented 48.2% of the Company’s total loan portfolio at September 30, 2026. F&M’s CRE portfolio included the following categories at September 30, 2026 (*):

CRE Category

Dollar Balance

Percent of CRE Portfolio

Percent of Total Loan Portfolio

Multi-family

$

248,851

18.8

%

9.1

%

Retail

241,155

18.3

%

8.8

%

Industrial

211,320

16.0

%

7.7

%

Hotels

176,727

13.4

%

6.5

%

Office

125,283

9.5

%

4.6

%

Gas Stations

83,361

6.3

%

3.0

%

Food Service

53,045

4.0

%

1.9

%

Development

35,527

2.7

%

1.3

%

Auto Dealers

26,163

2.0

%

1.0

%

Senior Living

17,205

1.3

%

0.6

%

Other

102,384

7.7

%

3.7

%

Total CRE

$

1,321,021

100

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EX-99

2 fmao-ex99.htm

EX-99

EX-99

Exhibit 99

Post Office Box 216

307 North Defiance Street

Archbold, Ohio 43502

NEWS RELEASE

Company Contact:

Investor and Media Contact:

Lars B. Eller

President and Chief Executive Officer

Farmers & Merchants Bancorp, Inc.

(419) 446-2501

leller@fm.bank

Andrew M. Berger

Managing Director

SM Berger & Company, Inc.

(216) 464-6400

andrew@smberger.com

Farmers & Merchants Bancorp, Inc. Reports

2026 First-Quarter Financial Results

ARCHBOLD, OHIO, April 22, 2026, Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2026 first quarter ended March 31, 2026, on a consolidated basis.

2026 First-Quarter Financial and Operating Highlights

(at March 31, 2026, and on a year-over-year basis unless noted)

• 92 consecutive quarters of profitability

• Net income increased 37.8% to a first quarter record of $9.6 million, or $0.70 per basic and diluted share

• Strong profitability drives ROAA to 1.14%, compared to 0.85%

• Net charge-offs to average loans of 0.01%

• Tier 1 leverage ratio was 9.02%

• Cost of interest-bearing liabilities improved to 2.54%, from 2.76%

• Net interest margin increased by 39 basis points to 3.42%

• Efficiency ratio improved to 60.08%, compared to 66.79%

• First quarter dividend per share increased 4.0% to $0.92 annualized

Lars B. Eller, President and Chief Executive Officer, stated, “We are off to an outstanding start in 2026, delivering 37.8% year-over-year earnings growth driven by a 39-basis point expansion in net interest margin, strong levels of noninterest income, and solid balance sheet management. Our ability to generate this level of growth in profitability while maintaining excellent credit quality and disciplined expense management underscores the strength of our core franchise. We are seeing meaningful operating leverage across the business, and believe this momentum positions us well for continued earnings expansion and long-term shareholder value creation.”

Income Statement

Net income for the quarter ended March 31, 2026, was $9.6 million, compared to $7.0 million for the same period last year. Net income per basic and diluted share for the 2026 first quarter was $0.70, compared to $0.51 for the same period last year.

Deposits

At March 31, 2026, total deposits were $2.81 billion, an increase of 4.1%, or $109.4 million from March 31, 2025. For the three months ended March 31, 2026, F&M’s cost of interest-bearing liabilities was 2.54%, compared to 2.76% in the same period last year.

“Deposit growth in the quarter demonstrates the early success of our new three-year, growth-oriented strategic plan, including our renewed focus on strengthening core deposit generation and expanding our treasury management and retail offerings. In addition, asset quality within the loan portfolio remains strong, with low levels of nonperforming assets, historically low charge-offs, and continued stability across our markets. We successfully resolved a number of watch list credits during the quarter, reflecting the effectiveness of our proactive credit management team. Importantly, underlying loan demand remains strong, with approximately $60 million in approved loans within our pipeline, providing a solid foundation for continued portfolio growth. These trends reflect our local decision-making, disciplined underwriting and proactive risk management practices,” continued Mr. Eller.

Loan Portfolio and Asset Quality

Total loans, net at March 31, 2026, increased 3.9%, or by $100.7 million to $2.68 billion, compared to $2.58 billion at March 31, 2025. The year-over-year increase was driven primarily by higher consumer real estate, commercial and industrial, and agricultural loans, partially offset by lower commercial real estate, agricultural real estate, and consumer loans.

F&M continues to closely monitor its loan portfolio with a particular emphasis on higher risk sectors. Nonperforming loans continue to normalize on a quarter-over-quarter basis and were $11.1 million, or 0.42% of total loans at March 31, 2026, compared to $11.3 million, or 0.42% of total loans at December 31, 2025, and $4.5 million, or 0.17% of total loans at March 31, 2025.

F&M maintains a well-balanced, diverse and high performing CRE portfolio. CRE loans represented 49.0% of the Company’s total loan portfolio at March 31, 2026. F&M’s CRE portfolio included the following categories at March 31, 2026 (*):

CRE Category

Dollar Balance

Percent of CRE Portfolio

Percent of Total Loan Portfolio

Industrial

$

241,208

18.4

%

9.0

%

Multi-family

233,030

17.7

%

8.7

%

Retail

224,629

17.1

%

8.4

%

Hotels

163,217

12.4

%

6.1

%

Office

133,398

10.1

%

4.9

%

Gas Stations

75,874

5.8

%

2.8

%

Food Service

51,638

3.9

%

1.9

%

Development

34,204

2.6

%

1.3

%

Auto Dealers

26,819

2.0

%

1.0

%

Senior Living

21,382

1.6

%

0.8

%

Other

110,150

8.4

%

4.1

%

Total CRE

$

1,315,549

100.0

%

49.