Total deposits remained relatively unchanged totaling $4.6 billion as of June 30, 2024 and June 30, 2023. Net recoveries were $14,000 in the second quarter of 2024 compared to net recoveries of $39,000 in the second quarter of 2023. During the second quarter, the Company repurchased 3,462 shares bringing the total to 8,663 shares for the six-months ended June 30, 2024. At June 30, 2024, the tangible common equity ratio was 10.72% an increase of 115 basis points from the 9.57% as of June 30, 2023. About Farmers & Merchants BancorpFarmers & Merchants Bancorp, trades on the OTCQX under the symbol FMCB, is the parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank.

Source: Forbes July 17, 2024 21:20 UTC