Farmers & Merchants Bancshares, Inc.

FMFG

Farmers & Merchants Bancshares, Inc.

FMFG

Insider Sentiment (TTM):

Last Purchase:2025-11-25Last Sale:2023-11-15Shares Purchased (TTM):750Shares Sold (TTM):0

Institutional Sentiment:

As of:N/AInstitutional Shares Owned:N/AShares Outstanding:N/AInstitutional Ownership Pct.:N/A

Earnings Market Reaction:

Filing Date:2026-08-11Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Cash And Due From Banks	54	48	46	52	30	22	64	16	24	25	44	23
Interest Bearing Deposits In Banks	1	1	1	1	1	1	1	-	-	-	-	-
Cash Cash Equivalents And Federal Funds Sold	55	49	47	52	31	23	65	17	25	26	45	25
Time Deposits At Carrying Value	0	0	0	0	0	0	0	0	0	0	0	0
Available For Sale Securities Debt Securities	-	-	-	-	-	124	126	159	158	162	164	137
Debt Securities Held To Maturity Amortized Cost Af…	-	-	-	-	-	21	20	20	20	20	20	20
Debt Securities Available For Sale Excluding Accru…	109	112	119	121	121	-	126	-	-	-	-	-
Debt Securities Held To Maturity Excluding Accrued…	21	21	21	21	21	-	20	-	-	-	-	-
Equity Securities Fv Ni	1	1	1	1	1	1	1	1	1	1	1	0
Assets
Assets	874	863	872	870	842	818	845	818	799	795	800	757
Federal Home Loan Bank Stock	3	4	4	3	1	1	1	1	1	1	1	1
Mortgage Loans On Real Estate	1	0	1	0	1	0	0	1	-	-	0	0
Notes Receivable Net	-	-	-	-	-	600	583	572	546	537	523	526
Financing Receivable Excluding Accrued Interest Af…	-	628	633	622	615	-	583	-	-	-	-	-
Property Plant And Equipment Net	7	7	7	7	7	7	7	7	7	7	7	6
Interest Receivable	2	2	3	3	2	2	2	2	2	2	2	2
Deferred Income Tax Assets Net	6	7	6	6	7	7	8	7	8	8	8	10
Other Real Estate	2	2	2	3	3	1	1	1	1	1	1	1
Bank Owned Life Insurance	16	15	15	16	16	15	15	15	15	15	15	15
Intangible Assets Net Including Goodwill	7	7	7	7	7	7	7	7	7	7	7	7
Other Assets	7	7	7	7	8	8	8	7	7	7	6	6
Deposits
Deposits	725	711	720	734	749	736	759	674	651	656	681	644
Noninterest Bearing Deposit Liabilities	126	123	117	116	121	104	107	108	109	115	115	113
Interest Bearing Deposit Liabilities	599	588	603	618	628	631	652	565	542	541	566	531
Securities Sold Under Agreements To Repurchase	5	3	4	2	5	5	6	3	3	6	7	5
Advances From Federal Home Loan Banks	58	63	63	50	10	0	5	5	15	5	5	5
Federal Funds Purchased	-	-	-	-	-	-	0	54	54	54	33	33
Long Term Debt	12	12	12	12	10	11	11	12	12	13	13	14
Interest Payable Current And Noncurrent	1	1	1	1	1	1	1	3	2	1	1	1
Other Liabilities	6	7	7	7	7	6	7	8	7	7	7	6
Liabilities	807	797	807	806	782	759	788	758	744	742	748	708
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	33	32	32	32	31	31	31	31	31	30	30	30
Stockholders Equity
Stockholders Equity	68	66	65	63	60	59	56	59	55	53	52	48
Retained Earnings Accumulated Deficit	48	47	45	45	44	43	42	42	41	41	39	39
Accumulated Other Comprehensive Income Loss Net Of…	-13	-13	-13	-13	-15	-16	-17	-14	-17	-18	-18	-21
Liabilities And Stockholders Equity	874	863	872	870	842	818	845	818	799	795	800	757
Debt Securities Held To Maturity Allowance For Cre…	-	-	-	-	-	0	0	0	0	0	0	0
Debt Securities Held To Maturity Allowance For Cre…	0	0	0	0	0	0	0	0	0	-	-	-
Financing Receivable Allowance For Credit Loss Exc…	-	4	4	4	4	4	4	4	4	-	-	-
Financing Receivable Allowance For Credit Losses	-	-	-	-	-	4	4	4	4	4	4	5
Common Stock Par Or Stated Value Per Share	1	1	1	1	1	1	1	1	1	0.01	0.01	0.01
Common Stock Shares Authorized	5	5	5	5	5	5	5	5	5	5	5	5
Shares Outstanding	3	3	3	3	3	3	3	3	3	-	3	3
Common Stock Shares Issued	3	3	3	3	3	3	3	3	3	3	3	3

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-0.93%	10.86%	10.92%	-	-	-	-	-	-	-	-	-
2025	6.25%	0.00%	6.32%	-2.40%	1.44%	-2.40%	5.20%	7.83%	20.22%	2.82%	2.82%	3.49%
2024	-2.76%	-7.68%	3.73%	5.28%	6.05%	-3.41%	4.68%	42.18%	10.92%	-4.72%	-3.21%	-1.63%
2023	-	-	-	-2.26%	-7.15%	-6.12%	-6.43%	3.41%	-0.67%	8.57%	-0.62%	-0.62%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Leverage & Debt
Interest Coverage TTM	-0.65	-0.67	-0.70	-0.73	-0.75	-0.74	-0.32	0.19	0.76	1.60	1.85	2.35
Per Share Metrics
Diluted EPS TTM	2.20	1.99	1.81	1.54	1.37	1.33	1.37	1.54	1.65	1.84	2.08	2.27
Free Cash Flow Per Share TTM	2.29	2.20	1.78	1.32	0.59	0.56	0.31	0.44	0.84	0.83	1.64	2.12
Dividend Per Share TTM	0.41	0.41	0.42	0.45	0.62	0.81	0.82	0.77	0.39	0.39	0.40	0.41
Margin Metrics
Gross Profit Margin TTM	-55.25%	-2,520.73%	-2,492.35%	-2,427.89%	-2,367.07%	-2,211.03%	-2,063.83%	-2,037.83%	-1,833.78%	-1,622.09%	-1,325.28%	-778.84%
Operating Profit Margin TTM	81.38%	1,219.42%	1,063.92%	867.92%	744.94%	695.51%	680.12%	747.79%	813.52%	929.49%	1,063.68%	1,187.27%
Net Profit Margin TTM	61.80%	938.10%	832.03%	687.10%	586.17%	541.41%	528.15%	584.81%	632.47%	715.98%	809.33%	887.76%
Growth Metrics
Net Revenue Growth (1Y)	1,455.47%	-12.18%	-14.44%	-13.30%	-8.92%	-2.66%	2.14%	4.62%	2.19%	2.32%	1.94%	1.90%
Net Income Growth (1Y)	63.99%	52.17%	34.78%	1.86%	-15.59%	-26.39%	-33.34%	-31.08%	-31.93%	-27.75%	-20.67%	-12.73%
EPS Growth (1Y)	60.81%	49.25%	32.45%	0.27%	-17.03%	-27.70%	-34.40%	-32.27%	-32.97%	-28.81%	-21.61%	-13.78%
Valuation Metrics
P/E TTM	8.64	8.48	9.32	10.51	11.50	10.80	14.11	9.85	7.65	8.28	7.56	7.11
P/B TTM	0.91	0.82	0.83	0.82	0.83	0.78	1.07	0.81	0.72	0.89	0.93	1.03
P/S TTM	5.34	79.51	77.58	72.22	67.41	58.46	74.50	57.59	48.41	59.27	61.16	63.11
Market Cap	61.52M	54.47M	53.76M	51.78M	49.95M	45.60M	60.34M	47.63M	39.39M	47.49M	48.50M	49.88M
Enterprise Value	19.26M	18.35M	19.69M	12.14M	30.06M	34.67M	7.71M	43.16M	27.45M	34.86M	17.31M	40.09M
Calculated Values
Free Cash Flow TTM	7.40M	7.11M	5.68M	4.23M	1.86M	1.79M	968.00K	1.38M	2.63M	2.58M	5.04M	6.55M
Net Debt	-42.26M	-36.11M	-34.08M	-39.64M	-19.89M	-10.92M	-52.63M	-4.47M	-11.94M	-12.63M	-31.19M	-9.79M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2025-11-25Purchase

Owner: Miller, Emily Bollinger

Title: -

Shares: 750

Price/Share: $16.00

Value: $12,000.00

Shares Owned: 1,941

Relationship: Director

Ownership: Direct

2024-12-12Purchase

Owner: Cassell, Roger D.

Title: -

Shares: 500

Price/Share: $15.25

Value: $7,625.00

Shares Owned: 2,566

Relationship: Director

Ownership: Direct

2024-11-20Purchase

Owner: Hux, Ronald W.

Title: -

Shares: 10,000

Price/Share: $14.65

Value: $146,500.00

Shares Owned: 36,334

Relationship: Director

Ownership: Direct

2024-08-08Purchase

Owner: Krebs, Mark C.

Title: Treasurer & CFO

Shares: 500

Price/Share: $16.00

Value: $8,000.00

Shares Owned: 6,923

Relationship: Officer

Ownership: Direct

2024-08-06Purchase

Owner: Krebs, Mark C.

Title: Treasurer & CFO

Shares: 500

Price/Share: $15.97

Value: $7,985.00

Shares Owned: 6,423

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2025-11-25	Miller, Emily Bollinger	Director	-	Direct	Purchase	750	16.00	$12,000.00	1,941	4
2024-12-12	Cassell, Roger D.	Director	-	Direct	Purchase	500	15.25	$7,625.00	2,566	4
2024-11-20	Hux, Ronald W.	Director	-	Direct	Purchase	10,000	14.65	$146,500.00	36,334	4
2024-08-08	Krebs, Mark C.	Officer	Treasurer & CFO	Direct	Purchase	500	16.00	$8,000.00	6,923	4
2024-08-06	Krebs, Mark C.	Officer	Treasurer & CFO	Direct	Purchase	500	15.97	$7,985.00	6,423	4
2024-08-02	Krebs, Mark C.	Officer	Treasurer & CFO	Direct	Purchase	500	16.00	$8,000.00	5,423	4
2024-06-12	Mekulski, Joseph Lawrence	Director	-	Direct	Purchase	100	14.50	$1,450.00	1,507	4
2024-06-04	Miller, Emily Bollinger	Director	-	Direct	Purchase	100	16.00	$1,600.00	300	4
2023-11-15	Cassell, Roger D.	Director	-	Direct	Sale	1	17.70	$10.80	5,509	4
2023-11-03	Wooden, Paul F. Jr.	Director	-	Direct	Sale	5,000	20.00	$100,000.00	47,064	4
2023-10-25	Eline, Steven W.	Director	-	Direct	Purchase	1,000	18.15	$18,150.00	23,699	4
2023-10-04	Smack, Teresa L.	Director	-	Direct	Purchase	5,000	18.30	$91,500.00	5,980	4
2023-09-07	Pollokoff, Robert G	Director	-	Direct	Purchase	26	19.50	$507.00	26	4
2023-08-29	Eline, Steven W.	Director	-	Direct	Purchase	140	19.98	$2,797.20	22,699	4
2023-08-24	Miller, Emily Bollinger	Director	-	Direct	Purchase	200	19.99	$3,998.00	200	4
2023-06-08	Smack, Teresa L.	Director	-	Direct	Purchase	115	25.00	$2,875.00	1,094	4
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No institutional ownership data available.

Farmers & Merchants Bancshares, Inc. (FMFG) — SEC Financial Statements & Analysis

Farmers & Merchants Bancshares, Inc. (FMFG) is a savings institutions, not federally chartered company, incorporated in MD. Farmers & Merchants Bancshares, Inc. trades on OTC as: FMFG. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Farmers & Merchants Bancshares, Inc. reported a 1455.47% year-over-year revenue growth, a Gross Profit Margin of -55.25% (TTM), a Price-to-Sales (P/S) ratio of 5.34x (TTM), a Price-to-Book (P/B) ratio of 0.91x (TTM), at a market cap of $61.52M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 1455.47%
Gross Profit Margin TTM: -55.25%
P/S TTM: 5.34x
P/B TTM: 0.91x
Market Cap: $61.52M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Farmers & Merchants Bancshares, Inc. in?

Farmers & Merchants Bancshares, Inc. (FMFG) operates in the Savings Institutions, Not Federally Chartered industry.

What is FMFG's market cap?

Farmers & Merchants Bancshares, Inc. (FMFG) has a market capitalization of $61.52M as of 2026-06-30.

What is FMFG's P/E ratio?

Farmers & Merchants Bancshares, Inc. (FMFG)'s trailing twelve month P/E ratio is 8.64x as of 2026-06-30.

What exchange does FMFG trade on?

Farmers & Merchants Bancshares, Inc. (FMFG) trades on the OTC.

Where is Farmers & Merchants Bancshares, Inc. incorporated?

Farmers & Merchants Bancshares, Inc. is incorporated in MD.