Farmers and Merchants Bancshares, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 09, 2021 at 04:00 am IST
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Farmers and Merchants Bancshares, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 5.567 million compared to USD 3.799 million a year ago. Net income was USD 417,394 compared to USD 1.060 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.36 a year ago. For the full year, net interest income was USD 17.304 million compared to USD 15.022 million a year ago. Net income was USD 2.682 million compared to USD 4.560 million a year ago. Basic earnings per share from continuing operations was USD 0.9 compared to USD 1.54 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. 
