FMAO

ARCHBOLD, Ohio, April 22, 2026 (GLOBE NEWSWIRE) -- 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...

Regular quarterly dividend increased 4.0% year-over-year, to $0.23 per share ARCHBOLD, Ohio, March 24, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) the holding company of F&M Bank, with total assets of $3.43 billion at December 31, 2025, today announced that it has approved the Company’s quarterly cash dividend of $0.23 per share, a 4.0% year-over-year increase. The first-quarter dividend is payable on April 20, 2026, to shareholders of record as of April 3, 2026. About Farmers & Merchants State Bank: F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Muncie, Indiana; and Perrysburg and Bryan, Ohio. Safe Harbor statement Farmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “seek,” “estimate,” “project,” “target,” “goal,” “will,” “would,” and similar expressions. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, deposit flows and pricing, liquidity and access to wholesale funding, interest rate and asset-liability management, credit quality (including commercial real estate exposures), collateral values, inflation and macroeconomic conditions, changes in laws and regulations (including capital and liquidity req...

ARCHBOLD, Ohio, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2025 fourth quarter and twelve months ended December 31, 2025, on a consolidated basis. 2025 Fourth-Quarter Financial and Operating Highlights (at December 31, 2025, and on a year-over-year basis unless noted) 91 consecutive quarters of profitability Net income increased 16.8% to a quarterly record of $9.8 million, or $0.71 per basic and diluted share Net charge-offs to average loans of 0.01% Tier 1 leverage ratio was 8.81% Cost of interest-bearing liabilities improved to 2.69%, from 3.01% Net interest margin increased by 62 basis points year-over-year to 3.46% Efficiency ratio improved to 58.38%, compared to 59.82% Fourth quarter dividend per share increased 4.0% to $0.92 annualized, reflecting two dividend increases in 2025 and the 31st consecutive annual increase in the Company’s regular dividend payment 2025 Full-Year Financial and Operating Highlights (at December 31, 2025, and on a year-over-year basis unless noted) Net income increased 28.4% to $33.3 million, or $2.43 per basic and diluted share Return on average assets was 0.99%, compared to 0.78% Total loans, net increased 5.9% to $2.71 billion, from $2.56 billion at December 31, 2024 Loans over 30 days past due to total loans averaged 0.26% for 2025, compared to 0.46% for 2024 Total assets increased 2.1% to $3.43 billion Deposits increased 1.6% to $2.73 billion Cost of interest-bearing liabilities improved to 2.80%, from 3.12% Stockholders’ equity increased 10.6% to a record $370.9 million Tangible book value increased 15.0% to $20.40 per share Net interest income after provision for credit losses increased 19.3% to $102.2 million Lars B. Eller, President and Chief Executive Officer, stated, “I am proud to report that F&M ended 2025 with record quarterly earnings per share, record stockholders’ equity, and record total assets, highlighting F&M’s operating strength and financial consistency. Our performance throughout the year and in the fourth quarter reflects sustained organic growth and the continued expansion of our local market presence across Ohio, Indiana, and Michigan. These results demonstrate the effectiveness of our relationship-driven approach and our ongoing investments in people and capabilities. Most importantly, this record performance would not...

Regular quarterly dividend increased 4.0% year-over-year to $0.23 per share ARCHBOLD, Ohio, Dec. 16, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) the holding company of F&M Bank, with total assets of $3.39 billion at September 30, 2025, today announced that it has approved the Company’s quarterly cash dividend of $0.23 per share. The fourth-quarter dividend is payable on January 20, 2026, to shareholders of record as of December 29, 2025. The $0.23 per share dividend represents a $0.00875 per share, or 4.0% increase year-over-year, and a $0.0025 per share, or 1.1% increase from the third-quarter dividend. Lars B. Eller, President and Chief Executive Officer stated, “After raising our dividend in the third quarter, I am pleased to announce another increase to our regular quarterly dividend. This growth demonstrates our strong financial and operating performance in 2025, and our growing optimism for 2026. Most importantly it underscores our continued commitment to return excess capital to our shareholders.” For over 50 years, F&M has paid a quarterly dividend and has increased its annual dividend for 31 consecutive years. About Farmers & Merchants State Bank: F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Muncie, Indiana, and Perrysburg and Bryan, Ohio. Safe Harbor statement Farmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “seek,” “estimate,” “projec...

LODI, Calif., Nov. 24, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), has amended their record date for the fourth quarter dividend from December 15, 2025 to December 4, 2025. The quarterly cash dividend declared amount of $5.05 per share and the cash dividend pay date of January 2, 2026 both remain unchanged from the original announcement on November 12, 2025. The declaration of this quarterly dividend brings the total year to date cash dividends per share of common stock declared to $19.35 per share, up 6.9% compared to a total of $18.10 per share for 2024. About Farmers & Merchants Bancorp Farmers & Merchants Bancorp trades on the OTCQX under the symbol FMCB, and is the parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank. Founded in 1916, F&M Bank is a locally owned and operated community bank, which proudly serves California through 33 convenient locations. F&M Bank is financially strong, with $5.6 billion in assets, and is consistently recognized as one of the nation's safest banks by national bank rating firms. The Bank has maintained a 5-Star rating from BauerFinancial for 35 consecutive years, longer than any other commercial bank in the State of California. Farmers & Merchants Bancorp has paid dividends for 90 consecutive years and has increased dividends for 60 consecutive years. As a result, Farmers & Merchants Bancorp is a member of a select group of only 55 publicly traded companies referred to as “Dividend Kings,” and is ranked 17th in that group based on consecutive years of dividend increases. A “Dividend King” is a stock with 50 or more consecutive years of dividend increase. In July 2025, Farmers & Merchants Bancorp was named by Bank Director’s Magazine as the #3 best-performing bank in the nation across all asset categories in their annual “Ranking Banking” study of the top performing banks for 2024. In July 2024, Farmers & Merchants Bancorp was named by Bank Director’s Magazine as the #2 best-performing bank in the nation across all asset categories in their annual “Ranking Banking” study of the top performing banks for 2023. In July 2023, the Bank was named by Bank Director’s Magazine as the #1 best-performing bank in the nation across all asset categories in...

LODI, Calif., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), declared a quarterly cash dividend of $5.05 per share. The cash dividend is payable on January 2, 2026, to shareholders of record on December 15, 2025. The declaration of this quarterly dividend brings the total year to date cash dividends per share of common stock declared to $19.35 per share, up 6.9% compared to a total of $18.10 per share for 2024. The Company’s last quarterly cash dividend of $5.00 was paid on October 1, 2025. Based on the Company’s financial performance through September 30, 2025, net income over the trailing twelve months was $91.6 million compared with $88.0 million for the same trailing period a year earlier. Diluted earnings per share over the trailing twelve months totaled $130.83, up 10.4% compared with $118.46 for the same trailing period a year ago and up 14.6% compared with $114.13 for the same period two years ago. As previously announced in August 2025, Farmers & Merchants Bancorp changed its dividend policy related to the frequency of cash dividend payments from semi-annually to quarterly beginning last quarter. For the quarter ended September 30, 2025, Farmers & Merchants Bancorp reported net income of $23.7 million, or $33.92 per diluted common share, a 13.2% increase over the prior year. For the third quarter of 2025, annualized return on average assets was 1.70% and return on average equity was 15.10%. Total assets at quarter-end were $5.6 billion. The Company’s credit quality remained solid with $955,000, or 0.03%, in non-accrual loans and leases as of September 30, 2025, while maintaining an allowance for credit losses on loans and leases of $76.0 million, or 2.10% of total loans and leases. At September 30, 2025, the Company’s common equity tier 1 ratio was 14.26% and the total risk-based capital ratio was 15.74%. All F&M Bank capital ratios exceeded the regulatory requirements to be classified as “well-capitalized” at September 30, 2025. For further details on our third quarter and year-to-date results, please see our press release dated October 16, 2025. Kent A. Steinwert, Chairman, President and CEO noted, “The Board is very pleased with the Company’s strong financial results in the first nine months of 2...

Farmers & Merchants Bancorp (FMAO) posted standout earnings, with net income climbing 37.5% over the past year, a sharp acceleration compared to its 4.7% annualized growth rate over the last five years. Net profit margins strengthened to 27.5%, up from 23.3%, and forward guidance is upbeat, with earnings forecast to grow at about 8% annually. With shares trading at a Price-to-Earnings ratio of 10.3x, below both industry and peer averages, and a current price of $23.90 sitting well below an estimated fair value of $37.47, the outlook is positive for value-focused investors. See our full analysis for Farmers & Merchants Bancorp. Next, we’ll see how this latest set of numbers holds up when put side-by-side with Simply Wall St’s widely followed market narratives. Sometimes the consensus gets confirmed, and sometimes the results upend expectations. Curious how numbers become stories that shape markets? Explore Community Narratives Net profit margins reached 27.5%, improving from 23.3% last year. This signals rising profitability even as many banks face compressed spreads. Rising margins strongly support the view that the bank’s careful approach to managing costs and risk keeps it resilient during sector volatility. The latest margin level is comfortably above the regional banking average. This reinforces optimism that stable operations and disciplined management give FMAO a positive edge. Bulls highlight that robust margin growth along with earnings expansion strengthens the bank’s defensive profile compared to peers experiencing fading profitability. No major risks were flagged and high-quality earnings were cited in the filing. Strong dividend safety is implied, which stands out in a sector still facing broader economic headwinds. FMAO’s record of steady profit growth and attractive dividend appeal draws in income-seeking investors, who see its conservative strategy as a haven for reliable returns. What’s notable this year is the acceleration in annual net income growth (37.5%), well above the 4.7% five-year average. This supports investor confidence in future payout stability. Income-focused buyers argue that high dividend consistency, combined with ongoing profit expansion, offers a rare combination of yield and earnings reliability in this market segment. Shares are currently priced at $23.90, representing a sizable gap below the DCF fair value of $37.47 and...

ARCHBOLD, Ohio, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2025 third quarter and year-to-date ended September 30, 2025 on a consolidated basis. 2025 Third Quarter Financial and Operating Highlights (at September 30, 2025 and on a year-over-year basis unless noted) 90 consecutive quarters of profitability Net income increased 35.9% to $8.9 million, or $0.64 per basic and diluted share Net interest margin increased 69 basis points year-over-year to 3.40% Total loans, net increased by $123.0 million, or 4.9% to $2.66 billion Total deposits increased by $67.1 million, or 2.5% to $2.75 billion Efficiency ratio improved to 63.11%, compared to 67.98% Asset quality remains at historically strong levels with nonperforming loans of only $5.2 million Net charge-offs to average loans of 0.00% Tier 1 leverage ratio was 8.74% Opened second full-service office in the State of Michigan in Troy Promoted Curtis Metz to Market President for Northern Indiana Declared the 31st consecutive annual increase in the Company’s regular dividend payment Lars B. Eller, President and Chief Executive Officer, stated, “The continued progress we are making to leverage recent investments, drive growth, and expand profitability is encouraging. Strong financial performance and sustained operating momentum during the 2025 third quarter produced one of the most profitable quarters in our 128-year history. Our results reflect the strength of F&M’s diversified business model and our longstanding commitment to create lasting value for our communities, customers, employees and shareholders. I am also proud of our recent dividend increase, marking the 31st consecutive annual increase in F&M’s dividend.” Income Statement Net income for the 2025 third quarter ended September 30, 2025, was $8.9 million, compared to $6.5 million for the same period last year. Net income per basic and diluted share for the 2025 third quarter was $0.64, compared to $0.48 for the same period last year. Net income for the nine months ended September 30, 2025, was $23.5 million, compared to $17.6 million for the same period last year. Net income per basic and diluted share for the 2025 nine months was $1.71, compared to $1.28 for the same period last year. Deposits At September 30, 2025, total deposits were $2.75 billion, an increase of 2.5% from...

Third Quarter 2025 Highlights Net income of $23.7 million, an increase of $1.6 million or 7.22% compared to the third quarter of 2024; Basic earnings per share of $34.24 and diluted earnings per share of $33.92; diluted earnings per share up 13.22% compared to the third quarter of 2024; Diluted earnings per share of $130.83 over the trailing twelve months, up 10.4% compared to $118.46 over the same trailing period a year ago and up 14.6% compared to $114.13 for the same period two years ago; Tangible book value per share increased 9.8% to $877.13 compared to $799.04 as of September 30, 2024; Achieved a return on average assets of 1.70% and a return on average equity of 15.10%; Net interest income of $55.4 million, up $3.4 million or 6.6% compared to $52.0 million in the third quarter of 2024; net interest margin (tax equivalent basis) of 4.16%, up from 4.07% in the third quarter of 2024; Continued cost discipline resulted in an efficiency ratio of 46.48%; Liquidity position remains strong with $172.6 million in cash, $1.6 billion in investment securities, of which $870.2 million are available-for-sale, no borrowings and a borrowing capacity of $2.1 billion as of September 30, 2025; Continued to grow our solid capital position with a preliminary total risk-based capital ratio of 15.76%, a common equity tier 1 ratio of 14.28%, a tier 1 leverage ratio of 11.60% and a tangible common equity ratio of 11.26%; Credit quality remains resilient with an allowance for credit losses on loans and leases of 2.10%; a net charge-off ratio of 0.03% for the quarter; and a non-accrual loan and leases ratio of 0.03% at quarter-end. LODI, Calif., Oct. 16, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported record third quarter net income of $23.7 million, or $33.92 per diluted common share compared with $22.1 million, or $29.96 per diluted common share, for the third quarter of 2024 and $23.1 million, or $32.94 per diluted common share, for the second quarter of 2025. The record third quarter net income is the highest quarterly net income in the history of the Company. The annualized return on average assets was 1.70% and the return on average equity was 15.10% for the third quarter of 2025 compared with 1.65% and 15.03% for the thir...

LODI, Calif., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), announced today that the Company is changing its dividend policy related to the frequency of cash dividend payments from semi-annually to quarterly. The unanimous decision to change the frequency of the cash dividend was done after the Board of Directors completed a thorough analysis of the Company’s overall financial condition and performance. This current decision only impacts the frequency of dividend payments, which is subject to change in the future, if deemed necessary or appropriate by the Board. Consistent with past dividends, the amount of each future cash dividend will be determined by the Board at each dividend period and is based on the Company’s financial performance and many factors which can change from time to time for reasons both within and outside of the Company’s control. There can be no assurance that the Company’s Board of Directors, in fact, will declare a dividend in any future quarterly period. The decision to move to a quarterly dividend is also designed to align more closely with banking industry practices while providing a more frequent return to shareholders. In conjunction with the above, on August 12, 2025, the Board of Directors declared a quarterly cash dividend of $5.00 per share. The cash dividend is payable on October 1, 2025, to shareholders of record on September 11, 2025. The Company’s last semi-annual cash dividend of $9.30 was paid on July 1, 2025. Based on the Company’s financial performance through June 30, 2025, net income over the trailing twelve months was $90.0 million compared with $87.9 million for the same trailing period a year earlier. Diluted earnings per share over the trailing twelve months totaled $126.87, up 7.8% compared with $117.73 for the same trailing period a year ago. For the quarter ended June 30, 2025, Farmers & Merchants Bancorp reported net income of $23.1 million, or $32.94 per diluted common share. For the second quarter of 2025, annualized return on average assets was 1.65% and return on average equity was 15.09%. Total assets at quarter-end were $5.5 billion. The Company’s credit quality remained solid with no non-accrual loans and leases as of June 30, 2025, while maintaining...

ARCHBOLD, Ohio, July 28, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2025 second quarter and year-to-date ended June 30, 2025. 2025 Second Quarter Financial and Operating Highlights (at June 30, 2025 and on a year-over-year basis unless noted) 89 consecutive quarters of profitability Net income increased 35.7% to $7.7 million, or $0.56 per basic and diluted share Net interest margin expands for fourth consecutive quarter, up 51 basis points year-over-year to 3.22% Total loans increased by $67.2 million, or 2.6% to $2.63 billion Total assets increased by $23.1 million, or 0.7% to $3.35 billion Total deposits increased by $69.2 million, or 2.6% to $2.71 billion Efficiency ratio improved to 64.93%, compared to 69.03% Asset quality remains at historically strong levels with nonperforming loans of only $3.7 million Net charge-offs to average loans of 0.00% Tier 1 leverage ratio was 8.50% Lars B. Eller, President and Chief Executive Officer, stated, “Net income for the 2025 second quarter was one of the most profitable quarters and our second-strongest second quarter in F&M’s 128-year history. This performance was driven by strong levels of core profitability, continued growth in our net interest margin, and the successful execution of our multi-year strategic plan. Over the past 12 months, we have enhanced our product offerings, simplified account openings, and continued our focus on attracting and developing proven talent across our regions. The positive momentum we are experiencing today is a direct result of these efforts, as well as our team’s commitment to helping people in our communities live their best lives.” Mr. Eller continued, “Total revenue growth, which is defined by net interest income plus noninterest income, grew by 18.2% year-over-year in the 2025 second quarter, compared to 16.7% in the 2025 first quarter. This growth continues to significantly outpace the rise in noninterest expenses, contributing to a more favorable efficiency ratio and ongoing improvements in core profitability.” “Supporting this revenue momentum is the ongoing expansion of our net interest margin, which increased 51 basis points year-over-year and 19 basis points from the 2025 first quarter. Net interest margin is benefiting from higher asset yields as existing loans reprice and new originations are book...

Second Quarter 2025 Highlights Net income of $23.1 million, an increase of $1.3 million or 5.9% compared to the second quarter of 2024; Basic earnings per share of $33.06 and diluted earnings per share of $32.94; diluted earnings per share up 12.1% compared to the second quarter of 2024; Diluted earnings per share of $126.87 over the trailing twelve months, up 7.8% compared to $117.73 over the same trailing period a year ago and 15.2% compared to $110.10 for the same period two years ago; Tangible book value per share increased 9.7% to $835.33 compared to $761.62 as of June 30, 2024; Achieved a return on average assets of 1.65% and a return on average equity of 15.09%; Net interest income of $53.9 million, up $3.1 million or 6.1% compared to $50.8 million in the second quarter of 2024; net interest margin (tax equivalent basis) of 4.07%, up from 3.91% in the second quarter of 2024; Continued cost discipline resulted in an efficiency ratio of 44.88%; Liquidity position remains strong with $291.8 million in cash, $1.3 billion in investment securities, of which $573.0 million are available-for-sale, no borrowings and a borrowing capacity of $2.1 billion as of June 30, 2025; Continued to grow our solid capital position with a preliminary total risk-based capital ratio of 15.35%, common equity tier 1 ratio of 13.87%, tier 1 leverage ratio of 11.18% and a tangible common equity ratio of 11.08%; Credit quality remains resilient with an allowance for credit losses on loans and leases of 2.09%; net charge-off ratio of 0.02% for the quarter and no non-accrual loans or leases at quarter-end. LODI, Calif., July 17, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported record second quarter net income of $23.1 million, or $32.94 per diluted common share for the second quarter of 2025 compared with $21.8 million, or $29.39 per diluted common share, for the second quarter of 2024 and $23.0 million, or $32.86 per diluted common share for the first quarter of 2025. Annualized return on average assets was 1.65% and return on average equity was 15.09% for the second quarter of 2025 compared with 1.58% and 15.33% for the second quarter of 2024, and 1.70% and 15.65% for the first quarter of 2025. The expense efficiency ratio for second...