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    Banks - Regional
Farmers & Merchants Bancshares, Inc.

Farmers & Merchants Bancshares, Inc.

FMBN
Farmers & Merchants Bancshares, Inc.US flagOther OTC
36.00
USD
- -
- -
118.79MMarket Cap
Farmers & Merchants Bancshares, Inc.
FMBN
(Other OTC)

Recent

price

36.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2003
2004
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
24.24
28.65
9.87
5.7
2.98
3.42
3.1
3.05
2.8
2.92
- -
29.24
Revenue per Share
2.28
3.85
2.28
1.61
0.06
0.39
0.29
0.26
-0.03
0.23
- -
3.24
Basic EPS, GAAP
- -
- -
4.57
1.77
0.18
0.48
0.57
0.25
0.08
0.34
- -
- -
Free Cash Flow per Basic Share
- -
- -
0.57
0.32
0.09
0.09
0.09
0.09
0.09
0.09
- -
- -
Dividend per Share
38.08
51.73
9.24
6.37
5.1
5.34
5.5
5.61
5.39
5.45
- -
28.01
Book Value per Share
61.57
61.99
25.2
15.52
4.68
5.15
4.94
1.89
2.49
2.93
- -
59.42
Tangible Book Value per Share
- -
- -
2
3
3
3
3
3
3
3
- -
- -
Basic Weighted Avg Shares
7
9
16
17
9
10
9
9
9
9
10
9
Sales/Revenue/Turnover
8.13
19.09
- -
- -
- -
- -
- -
- -
- -
- -
- -
10.64
Operating Margin (%)
- -
- -
- -
- -
- -
- -
1
1
- -
- -
- -
- -
Depreciation Expense
1
1
4
5
- -
1
1
1
- -
1
1
1
Net Income, GAAP
- -
29.56
34.57
19.01
- -
12.02
14.97
19.91
- -
15.51
20.49
28.27
Effective Tax Rate (%)
9.4
13.45
23.14
28.25
1.91
11.56
9.26
8.56
-0.94
8.05
11.25
11.08
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
17
3
4
4
4
4
17
22
18
- -
LT Debt
21
21
42
45
14
16
15
6
8
9
13
20
Total Equity
- -
5.11
- -
- -
- -
- -
- -
- -
- -
- -
- -
8.75
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
8.58
24.57
27.75
1
7.61
5.32
4.74
-0.48
4.37
6.34
32.95
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'17
Jun'17
Sep'17
ST Debt
5
1
11
LT Borrowings
1
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
- -
- -
Market Capitalization
- -
- -
- -

Working Capital

FRC

•

in mil. unless spec.
Mar'17
Jun'17
Sep'17
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
7
6
8
Accounts Receivable, Net
2
1
2
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
5
1
11
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.41%
6.52%
44.3%
Free Cash Flow
- -
56.53%
60.88%
Net Income, GAAP
-27.54%
-220.45%
50.76%
Sales/Revenue/Turnover
7.77%
-0.41%
7.83%
Total Cash Common Dividend
- -
- -
1.78%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
9
2024
- -
- -
- -
- -
9
2025
- -
- -
- -
- -
10

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
-0.03
2024
- -
- -
- -
- -
0.23
2025
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.09
2024
- -
- -
- -
- -
0.09
2025
- -
- -
- -
- -
- -
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Business
Farmers & Merchants Bancshares, Inc. (FMBN) operates as a financial holding company for Farmers & Merchants Bank & Trust, providing retail and commercial banking services, including deposit products such as checking accounts, savings accounts, and term certificates; lending products encompassing residential mortgages, agricultural loans, commercial loans, and consumer loans; and additional services comprising merchant processing, mobile deposit, payroll, notary, automated clearing house processing, online banking, mobile banking, telephone banking, bill pay, and remote deposit capture. The company serves individuals, businesses, and agricultural customers primarily in the Greater Burlington area of Iowa and surrounding communities through its locally owned and operated banking subsidiary. Founded in 1916 as Farmers & Merchants Savings Bank and headquartered at 221 Jefferson Street in Burlington, Iowa, the holding company underwent a name change for its subsidiary to Farmers & Merchants Bank & Trust in 1965. In September 2025, Farmers & Merchants Bancshares, Inc. completed a $12.5 million subordinated note issuance at 7.875% fixed-to-floating rate due 2035 to qualified institutional buyers and accredited investors, bolstering its capital base.