Farmers and Merchants Bancshares, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
January 23, 2019 at 09:07 pm
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Farmers and Merchants Bancshares, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported total interest income of USD 4,599,891 against USD 4,264,414 a year ago. Net interest income was USD 3,873,342 against USD 3,798,310 a year ago. Net income was USD 1,136,805 against USD 656,339 a year ago. Basic and diluted earnings per share were USD 0.68 against USD 0.39 a year ago.
For the year, the company reported total interest income of USD 17,768,333 against USD 16,594,803 a year ago. Net interest income was USD 15,261,092 against USD 14,887,563 a year ago. Net income was USD 4,712,676 against USD 3,789,241 a year ago. Basic and diluted earnings per share were USD 2.82 against USD 2.28 a year ago.
Farmers and Merchants Bank is a Maryland commercial bank engaged in a general commercial and retail banking business. The Bank provides a range of personal banking services designed to meet the needs of local consumers. Its deposit services include checking accounts, savings accounts, money market accounts, certificates of deposit and individual retirement accounts. The Bank also offers repurchase agreements and remote check deposits. The Bank grants available credit for residential mortgages, construction loans, home equity lines, personal installment loans and other consumer financing. It is also engaged in financing commerce and industry by providing credit and deposit services for small to medium sized businesses and the agricultural community in the Bankâs market area. Its main office is located in Upperco, Maryland, and it has six additional full-service branches located in the Maryland communities of Hampstead, Greenmount, Reisterstown, Owings Mills, Eldersburg, and Westminster.
FARMERS AND MERCHANTS BANCSHARES, INC. 
