ARCHBOLD, Ohio, Dec. 20, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (FMAO) the holding company of The Farmers & Merchants State Bank, with assets of $1.6 billion at September 30, 2019, today announced that it has approved a 6.7% increase in the Company’s quarterly cash dividend.
The new cash dividend has been raised to $0.16 per share from the previous dividend of $0.15 and represents the 25th consecutive annual increase in the Company’s regular dividend payment since 1994. The fourth-quarter dividend is payable on January 20, 2020, to shareholders of record as of December 31, 2019.
Lars B. Eller, President and Chief Executive Officer stated: “F&M has a strong history of returning capital to shareholders and our annual dividend payment has increased for 25 consecutive years. The is a testament to our strong financial and operating performance as well as our Board of Director’s commitment to create value for shareholders.”
About Farmers & Merchants Bancorp, Inc.:
Farmers & Merchants Bancorp, Inc. (“F&M”) (FMAO), is the holding company for the Farmers & Merchants State Bank, a local independent community bank that has been serving Northwest Ohio and Northeast Indiana since 1897. The Farmers & Merchants State Bank provides commercial banking, retail banking and other financial services through its 30 offices. Our locations are in Fulton, Defiance, Hancock, Henry, Lucas, Williams, and Wood counties in Northwest Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay and Steuben counties.
Safe harbor statement
Farmers & Merchants Bancorp, Inc. (“F&M“) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions or capital market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.