Farmers & Merchants Bancorp (FMCB) Financial Report Summaries

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Positive
Negative
Uncertain
Constraining
Legalese
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Readability	H.S. freshman Avg

New words: accommodate, aforementioned, Agreement, ALM, award, baseline, cancelled, Concept, concurrently, conversion, country, cumbersome, cut, cycle, degree, demonstrate, depth, deviation, disease, document, downturn, duration, economy, environmental, evidence, extract, FFIEC, formal, foundation, fourth, FRED, highlighted, idiosyncratic, implement, implemented, improve, inclement, influencing, intensive, Interagency, lender, lifetime, linear, Overdrawn, paragraph, peer, pool, regional, reliably, scorecard, seventeen, smaller, SR, stemming, strength, successfully, susceptible, water, weather, wherewithal

Removed: expensed, extension, prevailing, unfavorable, withdrawal

From filing 10-Q 2024 Q3

Financial report summary

Management Discussion

Interest-bearing deposits with banks and Federal Reserve balances are earning assets available to the Company. Average interest-bearing deposits with banks consisted primarily of FRB deposits. Balances with the FRB earned an average interest rate of 5.41% for the third quarter of 2024 and 2023, respectively. Average interest-bearing deposits with banks were $286.1 million and $592.0 million for the quarter ended September 30, 2024 and 2023, respectively. The decrease in average interest-bearing deposits with banks was primarily due to the purchases of investment securities and funding of loans. Interest income on interest-bearing deposits with banks was $3.9 million and $8.1 million for the quarter ended September 30, 2024 and 2023, respectively.