Filing Flows › Financials › Farmers & Merchants Bancorp (FMCB)
Farmers & Merchants Bancorp (FMCB) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Farmers & Merchants Bancorp (FMCB) Q3 2026 earnings results →
Q3 2026 Revenue up 4% year over year to $64.6M · 39¢ of every $1 of revenue kept as net profit · operating margin 42.2%
Farmers & Merchants Bancorp made $64.6M in Q3 2026 (+4% Y/Y): Net interest income $58.3M, Noninterest income $6.3M. Operating margin 42.2%, net earnings $25.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $64.6M in Q3 2026, up 4% year over year and up 4% from the previous quarter. Net interest income was the largest line at 90% of revenue. Net interest income added $2.9M year over year (up 5%), 127% of the total change. Noninterest income declined 9%.
Operating profit was $27.2M, a 42.2% margin (down 10.2 points year over year). Operating profit fell $5.4M even though revenue rose $2.3M versus a year earlier, so costs grew faster than sales. Total costs grew 26% against revenue growth of 4%. The fastest-growing cost line was Credit loss provision (+114%). Net earnings were $25.1M, up 6% year over year. The effective tax rate was 7.9%.
Operating cash flow was $40.4M (up 39% year over year), 161% of net earnings. Non-cash charges added back $777K of depreciation. Working capital and other items added $14.6M. Capital expenditures of $1.2M left free cash flow of $39.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $64.6M | +4% | 42.2% | $25.1M | $40.4M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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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 $5.8 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 36 consecutive years, longer than any other commercial bank in the State of California. Farmers & Merchants Bancorp has paid dividends for 91 consecutive years and has increased dividends for 61 consecutive years.
In its own words, from its 8-K, filed Jul 20, 2026.
Farmers & Merchants Bancorp against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +6%. Operating margin: 42.2% against the peers' median 32.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FMCB Farmers & Merchants Bancorp | Q3 2026 | $64.6M | +4% | 42.2% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: Farmers & Merchants Bancorp 10-Q on SEC EDGAR · CIK 1085913 · National Commercial Banks
Guidance and outlook
13F: who owns FMCB and who is buying
More on FMCB
History
Every quarter: Q3 2026 results