ARCHBOLD, Ohio - Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO), the parent company of F&M Bank, announced today an increase in its quarterly cash dividend. The dividend, set at $0.22 per share, marks a 4.8% rise from the first-quarter dividend of the previous year. Shareholders of record as of March 29, 2024, will be eligible for the dividend, which is payable on April 20, 2024.
F&M Bank, which is a community bank with a history dating back to 1897, operates across several counties in Ohio, Northeast Indiana, and has a presence in Oakland County, Michigan. The bank offers a range of financial services, including commercial and retail banking.
This dividend announcement follows a period of growth for Farmers & Merchants Bancorp (NASDAQ:MBIN), with reported total assets of $3.28 billion as of December 31, 2023. The bank's footprint includes locations in Ohio's Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties. It also has offices in Indiana's Adams, Allen, DeKalb, Jay, Steuben, and Wells counties, as well as loan production offices in West Bloomfield, Michigan; Muncie, Indiana; and Bryan, Ohio.
Farmers & Merchants Bancorp, Inc. has included a Safe Harbor statement in its announcement, indicating that forward-looking statements made by the company are subject to risks and uncertainties. These could include the impact of general and local banking conditions, market competition, interest rate levels, legislative and regulatory decisions, capital market conditions, and the potential effects of the COVID-19 pandemic on credit quality and business operations.
The company has directed interested parties to review its SEC filings for more detailed information, which can be accessed through the SEC's website or F&M Bank's website. This dividend increase is based on a press release statement from Farmers & Merchants Bancorp, Inc.
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