Farmers and Merchants Bancshares, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 28, 2020 at 08:33 am EDT
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Farmers and Merchants Bancshares, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced net interest income was USD 4.100 million compared to USD 3.762 million a year ago. Net income was USD 385,247 compared to USD 1.177 million a year ago. Basic earnings per share was USD 0.13 compared to USD 0.4 a year ago. For the nine months, net interest income was USD 11.736 million compared to USD 11.223 million a year ago. Net income was USD 2.264 million compared to USD 3.500 million a year ago. Basic earnings per share was USD 0.76 compared to USD 1.19 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. 