ARCHBOLD – The board of directors of Farmers & Merchants Bancorp Inc., (Nasdaq: FMAO), the holding company of The Farmers & Merchants State Bank, with total assets of $ 2.22 billion as of September 30, 2021, has announced today have approved an 11.8% year-over-year increase in the company’s quarterly cash dividend.
The new cash dividend has been increased to $ 0.19 per share from the previous dividend of $ 0.18 and represents the second quarterly increase this year in the Company’s regular dividend. The fourth quarter dividend is payable on January 20, 2022, to shareholders of record on December 28, 2021.
Lars B. Eller, President and CEO, said: âToday’s announcement reflects the positive dynamics underway at F&M, as well as the earnings benefits of our recent acquisitions. I am extremely proud of our long history of increasing dividends. As our size and profitability continue to grow, we are committed to returning additional capital to our shareholders. “
Farmers & Merchants State Bank is an independent local community bank that has served Northwest Ohio and Northeast Indiana since 1897. Farmers & Merchants State Bank provides commercial banking, retail banking and other financial services. It has locations in Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Williams and Wood counties in western Ohio. In northeast Indiana, offices are located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties, and there are loan production offices in West Bloomfield, Michigan, Muncie, Indiana and Oxford, Ohio.