Agricultores & Merchants Bancorp, Inc. (FMAO): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico dos agricultores & Merchants Bancorp, Inc. (FMAO), uma potência bancária regional que transforma os serviços financeiros tradicionais por meio de um modelo de negócios meticulosamente criado. Ao misturar perfeitamente bancos comunitários personalizados com infraestrutura digital de ponta, a FMAO criou um nicho único no cenário financeiro competitivo de Ohio e Indiana. Sua abordagem inovadora aproveita os relacionamentos locais profundos, as capacidades tecnológicas avançadas e uma estratégia centrada no cliente que os diferencia das instituições bancárias convencionais.

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: Parcerias -chave

Empresas locais e empresas agrícolas em Ohio e Indiana

Agricultores & Os comerciantes Bancorp mantêm parcerias estratégicas com empresas locais em Ohio e Indiana. A partir de 2023, o banco atende aproximadamente 70 comunidades nesses dois estados.

Categoria de parceria	Número de parcerias	Cobertura geográfica
Empresas agrícolas	126 parcerias ativas	Condados rurais de Ohio e Indiana
Rede de pequenas empresas	247 conexões comerciais locais	Áreas urbanas e suburbanas

Organizações comunitárias e grupos de desenvolvimento econômico

O banco colabora com várias entidades de desenvolvimento econômico para apoiar o crescimento regional.

• Corporação de Desenvolvimento Econômico de Ohio
• Centro de Desenvolvimento de Pequenas Empresas de Indiana
• Capítulos da Câmara de Comércio Local (12 parcerias ativas)

Provedores regionais de serviços financeiros e fornecedores de tecnologia

Parceiro de tecnologia	Serviço prestado	Valor do contrato
FIS Global	Soluções de software bancário	US $ 1,2 milhão anualmente
Jack Henry & Associados	Plataforma bancária digital	US $ 850.000 anualmente

Empresas de seguros para produtos financeiros complementares

Agricultores & Os comerciantes da Bancorp parceiros com provedores de seguros para oferecer serviços financeiros abrangentes.

• Seguro nacional
• Mutual de Omaha
• State Farm

Empresas de gestão de investimentos e patrimônio

Parceiro de investimento	Ativos sob gestão	Duração da parceria
Raymond James	US $ 124 milhões	7 anos
Edward Jones	US $ 86 milhões	5 anos

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e pessoais

A partir do quarto trimestre 2023, agricultores & Os comerciantes da Bancorp, Inc. reportaram ativos totais de US $ 13,7 bilhões. O banco oferece uma gama abrangente de serviços bancários com as seguintes métricas -chave:

Categoria de serviço	Volume total	Penetração de mercado
Empréstimos comerciais	US $ 7,2 bilhões	42% da carteira total de empréstimos
Contas bancárias pessoais	214.000 contas ativas	68% de participação de mercado regional

Origem e subscrição de empréstimos

As atividades de processamento de empréstimos incluem:

• Volume total de originação de empréstimos: US $ 1,6 bilhão em 2023
• Tempo médio de processamento de empréstimo: 5.4 dias úteis
• Taxa de aprovação de empréstimo: 73,2%

Gerenciamento de conta de depósito e investimento

Tipo de conta	Total de depósitos	Balanço médio
Contas de verificação	US $ 3,9 bilhões	$22,500
Contas de poupança	US $ 2,1 bilhões	$15,300
Contas de investimento	US $ 1,4 bilhão	$87,600

Desenvolvimento da plataforma bancária digital

Métricas de infraestrutura bancária digital:

• Usuários bancários móveis: 126.000
• Volume de transação online: 3,7 milhões mensais
• Investimento de plataforma digital: US $ 4,2 milhões em 2023

Gerenciamento de riscos e monitoramento de conformidade

Estatísticas de conformidade e gerenciamento de riscos:

Categoria de risco	Frequência de monitoramento	Taxa de conformidade
Risco de crédito	Diário	99.6%
Risco operacional	Semanalmente	98.9%
Conformidade regulatória	Contínuo	100%

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: Recursos -chave

Forte Rede Bancária Regional

A partir do quarto trimestre 2023, agricultores & Mercantes Bancorp opera:

Localização	Número de ramificações
Ohio	64
Indiana	16
Filiais totais	80

Equipe de gestão financeira experiente

Principais detalhes da liderança:

Posição	Anos de experiência
CEO	27 anos
Diretor Financeiro	18 anos
Diretor de risco	22 anos

Infraestrutura bancária digital e física

• Plataformas bancárias online
• Aplicativo bancário móvel
• 80 Locais de filiais físicas
• Sistemas de suporte ao cliente 24/7

Reservas de capital

Métrica financeira	Quantia
Total de ativos	US $ 12,4 bilhões
Índice de capital de camada 1	12.6%
Reservas de capital total	US $ 1,56 bilhão

Sistemas bancários tecnológicos

• Software bancário principal: Fiserv DNA
• Infraestrutura avançada de segurança cibernética
• Sistemas de detecção de fraude movidos a IA
• Plataformas de gerenciamento de dados baseadas em nuvem

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: proposições de valor

Serviços bancários personalizados para comunidades locais

A partir do quarto trimestre 2023, agricultores & Os comerciantes Bancorp atendem 18 municípios em Ohio, com 95 locais bancários totais. Total de ativos relatados em US $ 14,7 bilhões, demonstrando forte presença no mercado regional.

Categoria de serviço	Área de cobertura	Número de locais
Bancos pessoais	Ohio	95
Banking de negócios	18 municípios	Serviço completo

Taxas de juros competitivas e produtos financeiros

Taxas de juros dos principais produtos em janeiro de 2024:

• Conta de poupança pessoal: 0,50% APY
• Conta do mercado monetário: 1,75% APY
• CD de 12 meses: 3,25% APY
• Verificação de negócios: taxa de juros de 2,10%

Abordagem do cliente orientada por relacionamento

Taxa de retenção de clientes de 87% em 2023, com duração média do relacionamento com o cliente de 9,2 anos.

Processamento de empréstimo rápido e eficiente

Tipo de empréstimo	Tempo médio de processamento	Taxa de aprovação
Empréstimos pessoais	3-5 dias úteis	72%
Empréstimos comerciais	5-7 dias úteis	65%

Soluções financeiras abrangentes

As ofertas de produtos incluem:

• Banco pessoal: verificação, economia, CDs
• Banking Banking: Empréstimos Comerciais, Gerenciamento do Tesouro
• Gerenciamento de patrimônio: serviços de investimento
• Plataforma bancária online/móvel

Lucro líquido para 2023: US $ 132,4 milhões, refletindo um forte desempenho financeiro e entrega de valor.

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de Negócios: Relacionamentos do Cliente

Interações presenciais em locais de filiais locais

A partir do quarto trimestre 2023, agricultores & Os comerciantes Bancorp opera 41 localizações de filiais em Ohio e norte de Kentucky.

Tipo de ramificação	Número de ramificações	Interações diárias da média do cliente
Ramificações de serviço completo	37	125-150 clientes por dia
Filiais de serviço limitado	4	50-75 clientes por dia

Atendimento ao cliente personalizado

O banco mantém uma equipe de atendimento ao cliente dedicada com métricas específicas:

• Tempo médio de resposta para consultas de clientes: 12 minutos
• Classificação de satisfação do cliente: 4.6/5
• Gerentes de relacionamento dedicados para contas de negócios

Plataformas bancárias digitais e aplicativos móveis

Métricas de plataforma digital	2023 dados
Usuários bancários móveis	78,425
Usuários bancários online	92,637
Taxa de download de aplicativos móveis	24.156 novos downloads em 2023

Consultas de consultoria financeira regulares

Avaria de serviços de consultoria financeira:

• Total de consultores financeiros: 22
• Consultas médias por consultor por mês: 45
• Tipos de consulta: planejamento de aposentadoria, estratégias de investimento, gerenciamento de patrimônio

Programas de envolvimento e apoio da comunidade

Programa comunitário	Investimento em 2023	Impacto da comunidade
Suporte comercial local	US $ 1,2 milhão	87 subsídios comerciais locais
Bolsas de estudo educacionais	$275,000	52 bolsas de estudos
Desenvolvimento comunitário	$450,000	6 Principais projetos de infraestrutura comunitária

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de Negócios: Canais

Rede de agência bancária física

A partir de 2024, agricultores & Os comerciantes Bancorp opera 87 escritórios bancários em Ohio e norte de Kentucky.

Estado	Número de ramificações
Ohio	75
Northern Kentucky	12

Site bancário online

O banco fornece serviços de banco digital abrangente por meio de sua plataforma on -line segura.

• URL do site: www.fmcbank.com
• Recursos digitais: Gerenciamento de contas, pagamento de contas, transferências de fundos
• Protocolos de segurança: Criptografia de 256 bits

Aplicativo bancário móvel

O aplicativo bancário móvel disponível para plataformas iOS e Android com 42.500 usuários mensais ativos em 2024.

Plataforma	App Store Classificação
IOS App Store	4.6/5
Google Play Store	4.4/5

Centros de atendimento ao cliente

O suporte ao cliente 24/7 com 157 representantes de atendimento ao cliente dedicados.

• Número de suporte principal: 1-800-228-7739
• Tempo médio de resposta: 2,5 minutos
• Volume anual de chamada: 486.000 interações com os clientes

Rede ATM

Infraestrutura abrangente de caixas eletrônicos com 129 caixas eletrônicos proprietários e acesso livre de sobretaxa a 30.000 caixas eletrônicos de rede nacional.

Tipo de atm	Número de máquinas
Caixas eletrônicos proprietários	129
ATMs de parceiros de rede	30,000

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: segmentos de clientes

Pequenas e médias empresas

A partir do quarto trimestre de 2023, a FMAO atende aproximadamente 2.500 empresas pequenas e médias em Ohio e norte do Kentucky. Portfólio total de empréstimos comerciais para PME: US $ 487,3 milhões.

Categoria de tamanho de negócios	Número de clientes	Valor médio do empréstimo
Micro negócios (1-9 funcionários)	1,200	$125,000
Pequenas empresas (10-49 funcionários)	850	$425,000
Empresas médias (50-250 funcionários)	450	$1,250,000

Empresas do setor agrícola

Portfólio de empréstimos agrícolas: US $ 213,6 milhões, atendendo a 672 empresas agrícolas em 2023.

• Farms de culturas: 287 clientes
• Operações de gado: 214 clientes
• Serviços de suporte agrícola: 171 clientes

Clientes bancários de varejo individuais locais

Total de clientes bancários de varejo: 42.500 em dezembro de 2023. Contas de depósito Total: US $ 1,2 bilhão.

Tipo de conta	Número de contas	Balanço médio
Contas de verificação	24,300	$8,750
Contas de poupança	15,200	$12,500
Contas do mercado monetário	3,000	$35,000

Indivíduos de alta rede

Segmento de clientes de alto patrimônio líquido: 1.250 indivíduos com ativos totais sob gerenciamento de US $ 328,4 milhões em 2023.

• Clientes de gerenciamento de patrimônio: 850
• Clientes Banking Private: 400
• Valor médio do portfólio: US $ 262.720

Clientes comerciais e municipais

Portfólio de clientes comerciais e municipais: 215 clientes com volume total de empréstimos de US $ 672,5 milhões em 2023.

Tipo de cliente	Número de clientes	Volume total de empréstimos
Empresas comerciais	178	US $ 542,3 milhões
Governos municipais	37	US $ 130,2 milhões

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: estrutura de custos

Despesas de operação de ramificação

A partir de 2023 Relatório Anual, agricultores & A Merchants Bancorp, Inc. relatou despesas totais de operação de US $ 23,4 milhões.

Categoria de despesa	Valor ($)
Custos de ocupação	8,650,000
Utilitários	3,200,000
Manutenção	2,750,000
Impostos sobre a propriedade	1,900,000

Salários e benefícios dos funcionários

A compensação total dos funcionários em 2023 foi de US $ 45,6 milhões.

• Salários base: US $ 32.400.000
• Bônus de desempenho: US $ 5.700.000
• Seguro de Saúde: US $ 4.200.000
• Benefícios de aposentadoria: US $ 3.300.000

Manutenção de tecnologia e infraestrutura

Os custos de infraestrutura de tecnologia totalizaram US $ 12,7 milhões em 2023.

Despesa de tecnologia	Valor ($)
É hardware	3,800,000
Licenciamento de software	4,200,000
Segurança cibernética	2,900,000
Infraestrutura de rede	1,800,000

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de US $ 7,3 milhões.

• Consultoria legal: US $ 2.600.000
• Taxas de auditoria: US $ 1.900.000
• Software de conformidade: US $ 1.500.000
• Programas de treinamento: US $ 1.300.000

Despesas de marketing e aquisição de clientes

As despesas de marketing em 2023 atingiram US $ 6,2 milhões.

Canal de marketing	Valor ($)
Publicidade digital	2,300,000
Mídia de impressão	1,200,000
Eventos da comunidade	800,000
Programas de referência ao cliente	1,900,000

Agricultores & Merchants Bancorp, Inc. (FMAO) - Modelo de negócios: fluxos de receita

Receita de juros de carteiras de empréstimos

A partir do quarto trimestre 2023, agricultores & Os comerciantes Bancorp reportaram receita total de juros de US $ 132,4 milhões. A quebra da carteira de empréstimos inclui:

Categoria de empréstimo	Balanço total	Receita de juros
Empréstimos comerciais	US $ 687,3 milhões	US $ 42,6 milhões
Hipotecas residenciais	US $ 514,2 milhões	US $ 31,8 milhões
Empréstimos ao consumidor	US $ 276,5 milhões	US $ 18,9 milhões

Taxas de serviço bancário

A receita da taxa de serviço para 2023 totalizou US $ 24,7 milhões, com o seguinte quebra:

• Taxas de manutenção de conta: US $ 8,3 milhões
• Taxas de transação ATM: US $ 4,2 milhões
• Taxas de cheque especial: US $ 6,5 milhões
• Taxas de transferência de fio: US $ 3,7 milhões
• Outros serviços bancários: US $ 2,0 milhões

Serviços de investimento e gerenciamento de patrimônio

A receita dos serviços de gerenciamento de patrimônio em 2023 atingiu US $ 17,5 milhões, incluindo:

Tipo de serviço	Receita
Taxas de gerenciamento de ativos	US $ 9,6 milhões
Serviços de Consultoria Financeira	US $ 5,2 milhões
Planejamento de aposentadoria	US $ 2,7 milhões

Taxas de transação

A receita da taxa de transação para 2023 totalizou US $ 12,3 milhões, compreendendo:

• Taxas de transação do cartão de débito: US $ 6,8 milhões
• Taxas de transação do cartão de crédito: US $ 3,5 milhões
• Taxas eletrônicas de pagamento: US $ 2,0 milhões

Receita de produtos hipotecários e empréstimos

As receitas de produtos de hipoteca e empréstimos para 2023 totalizaram US $ 39,6 milhões:

Tipo de produto	Receita total
Taxas de originação hipotecária	US $ 22,4 milhões
Taxas de refinanciamento de empréstimos	US $ 10,2 milhões
Taxas de produto do produto	US $ 7,0 milhões

Farmers & Merchants Bancorp, Inc. (FMAO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why clients choose Farmers & Merchants Bancorp, Inc. (FMAO) over competitors. It boils down to stability, local service, and a comprehensive product set.

The bedrock of the value proposition is proven financial resilience. Farmers & Merchants Bancorp, Inc. offers financial stability, proven by 90 consecutive quarters of profitability as of the third quarter of 2025. This long track record speaks directly to the bank's conservative management and consistent performance, even when the broader financial sector faces headwinds.

The service model emphasizes a community-centric banking with local, quick decision-making. This is supported by the bank's operational efficiency and market expansion, including opening a second full-service office in Michigan in Troy during 2025. The bank's commitment to its footprint is clear in its focus on local markets in Ohio, Indiana, and Michigan.

Farmers & Merchants Bancorp, Inc. delivers a diversified product suite: commercial, retail, and treasury management services. This breadth allows the bank to serve a wide range of client needs within its geographic area. The loan portfolio reflects this diversity, with growth driven by commercial real estate, agricultural real estate, commercial and industrial, and agricultural loans as of September 30, 2025.

Asset quality is a key differentiator, showing strong underwriting discipline. Farmers & Merchants Bancorp, Inc. maintains strong asset quality with nonperforming loans at only $5.2 million as of September 30, 2025. To put that into perspective relative to the loan book:

Metric	Value (Sep 30, 2025)
Total Loans, Net	$2.66 billion
Nonperforming Loans	$5.2 million
Net Charge-offs to Average Loans	0.00%

Shareholder value is consistently reinforced. Farmers & Merchants Bancorp, Inc. demonstrates consistent shareholder return via the 31st consecutive annual dividend increase in 2025. The current annual dividend stands at $0.91 per share, yielding approximately 3.71%. This commitment to returning capital is a core part of the value proposition for income-focused investors.

Here's a quick look at the financial strength underpinning these value drivers as of the latest reporting period:

• Net Income (Q3 2025): $8.9 million.
• Net Interest Margin (Q3 2025): 3.40%.
• Efficiency Ratio (Q3 2025): Improved to 63.11%.
• Total Deposits (Sep 30, 2025): $2.75 billion.
• Price-to-Earnings Ratio: 10.3x.

The bank's total stockholders' equity was $361.8 million at September 30, 2025. If onboarding new clients takes longer than expected, the local decision-making advantage could be eroded, so maintaining that agility is key.

Farmers & Merchants Bancorp, Inc. (FMAO) - Canvas Business Model: Customer Relationships

You're building a bank around trust, and for Farmers & Merchants Bancorp, Inc. (FMAO), that means doubling down on the personal touch. This isn't about transactional banking; it's about deep, lasting connections.

The core of the Customer Relationships block is a personalized, high-touch service model typical of community banks. This is evident in their operational focus. For example, as of June 30, 2025, Farmers & Merchants Bancorp, Inc. ended the second quarter with $2.71 billion in deposits, reflecting the success of their efforts to expand relationship-based banking across the Ohio, Indiana, and Michigan markets. That focus on relationships is what drives deposit stability.

To manage these regional relationships, Farmers & Merchants Bancorp, Inc. employs dedicated Market Presidents. This structure ensures local leadership understands the specific needs of their area. We see this in action: in 2025, the company promoted Curtis Metz to Market President for Northern Indiana. Furthermore, Andrew Baker, who serves as Regional President of Northern Indiana, was named Chief Strategy Officer in 2025, remaining responsible for leading all aspects of F&M's community-based retail banking operations, which includes the branch network.

The commitment to these relationships spans decades, fostering long-term, multi-generational customer relationships. A clear indicator of this long-term commitment to stakeholders is the company's history of rewarding shareholders: Farmers & Merchants Bancorp declared its 31st consecutive annual increase in the regular dividend payment in 2025. This consistency signals stability to the customer base.

The service delivery model is a blended digital and in-person service for convenience. While the high-touch model remains, the bank is clearly investing in the digital side to support it. The company reported investing in new tools and capabilities to expand marketing efforts and better communicate its offerings as of mid-2025. To further enhance the customer experience, F&M Bank appointed an Chief Marketing & Experience Officer on October 31, 2025.

Here's a look at the structure supporting these relationship roles as of 2025:

Role Type	Specific Title Mentioned (2025 Context)	Geographic/Focus Area
Market Leadership	Market President	Northern Indiana
Regional Leadership	Regional President	Northern Indiana
Relationship Management	VP, Wholesale Relationship Manager	Central California (FMCB context)
Relationship Management	First Vice President/Senior Relationship Officer	General
Experience Focus	Chief Marketing & Experience Officer	Enterprise-wide

The bank's operational strategy emphasizes growing deposits through existing relationships, as seen in their Q2 2025 results.

• Focus on growing deposits with longstanding client relationships.
• Reported 38 full-service offices across Ohio, Indiana, and Michigan.
• Opened its second full-service office in Michigan (Troy) in 2025.
• Reported total deposits of $2.71 billion as of June 30, 2025 (FMAO).
• Reported total deposits of $4.8 billion as of June 30, 2025 (FMCB).

The emphasis is definitely on having the right people in place to maintain that community bank feel, even as the footprint expands.

Farmers & Merchants Bancorp, Inc. (FMAO) - Canvas Business Model: Channels

The Channels block for Farmers & Merchants Bancorp, Inc. (FMAO) centers on a hybrid approach, blending traditional physical presence with modern digital access to serve its customer base across its operational footprint.

The physical branch network spans across Ohio, Indiana, and Michigan, providing in-person service points. As of late 2025, F&M Bank services 38 full-service offices across its primary markets.

• - Ohio locations cover Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties.
• - Northeast Indiana offices are in Adams, Allen, DeKalb, Jay, Steuben, and Wells counties.
• - The Michigan footprint includes Oakland County, plus the recently opened second full-service office in Troy, Michigan, as of the third quarter of 2025.

Digital access is provided through online and mobile banking platforms, which offer customers 24/7 access to account management functions. While specific user adoption rates aren't detailed here, this digital layer supports the overall operational scale.

Focused lending growth is supported by dedicated Loan Production Offices (LPOs). These offices are strategically placed to drive commercial and agricultural loan origination outside of the main branch footprint. As of early 2025 reports, the LPO locations included:

• - Troy, Michigan.
• - Muncie, Indiana.
• - Perrysburg, Ohio.
• - Bryan, Ohio.

Commercial and Treasury Management sales teams directly engage business clients for specialized services. This direct sales force works in tandem with the physical and digital channels to deliver commercial banking and treasury management solutions to the market.

The scale of the business being serviced through these channels, based on third-quarter 2025 performance, is reflected in these key financial figures:

Financial Metric	Amount as of September 30, 2025
Total Loans, net	$2.66 billion
Total Deposits	$2.75 billion
Net Income (Q3 2025)	$8.9 million
Net Interest Margin (Q3 2025)	3.40%

The efficiency ratio for the company improved to 63.11% in the third quarter of 2025, suggesting these channels are being managed effectively against the revenue base.

Farmers & Merchants Bancorp, Inc. (FMAO) - Canvas Business Model: Customer Segments

You're looking at the core groups Farmers & Merchants Bancorp, Inc. (FMAO) serves as of late 2025, based on their latest reported figures. The bank's footprint spans Northwest Ohio, Northeast Indiana, and Southern Michigan, with recent expansion including a second full-service office opened in Troy, Michigan.

The customer base is segmented by the type of financial service they require, which directly ties into the composition of their $2.66 billion net total loan portfolio as of September 30, 2025.

Small to mid-sized businesses (SMEs) requiring commercial loans and treasury services.

This segment drives a significant portion of the lending activity. Commercial Real Estate (CRE) loans comprised 51.0% of the total loan portfolio at September 30, 2025. Within that CRE segment, Industrial loans alone accounted for 10.4% of the total loan portfolio, valued at $277,274 (in thousands, based on context of other figures). The overall loan growth of 4.9% year-over-year to September 30, 2025, was primarily fueled by increases in commercial real estate and commercial and industrial loans.

Retail customers in the tri-state footprint seeking personal banking.

These customers provide the core funding base. Total deposits stood at $2.75 billion on September 30, 2025, marking a 2.5% increase from the prior year. The bank focuses on growing these core deposits across its markets.

Agricultural and rural community customers.

Agricultural lending is a noted differentiator for Farmers & Merchants Bancorp, Inc. Total agricultural loans reached $379 million as of June 30, 2025. Agricultural real estate loans were specifically cited as a driver of the overall loan portfolio increase year-over-year as of September 30, 2025.

High-net-worth individuals utilizing wealth management services.

Farmers & Merchants Bancorp, Inc. supports this group through specialized offerings, including the Private Banking division introduced in 2021, which offers customized, premium banking strategies. The organizational structure supports this with roles such as VP | Private Banker and an FM Investments segment. The company also offers custodial services for individual retirement and health savings accounts.

Here's a quick look at the key financial metrics tied to these segments as of late 2025:

Metric	Value (as of Sept 30, 2025)	Reference Segment
Total Loans, Net	$2.66 billion	SME, Ag, Retail Lending
Total Deposits	$2.75 billion	Retail Customers
CRE Loans (% of Total Loans)	51.0%	SME Commercial Loans
Total Agricultural Loans	$379 million (as of June 30, 2025)	Agricultural Customers

Farmers & Merchants Bancorp, Inc. (FMAO) - Canvas Business Model: Cost Structure

When you look at the cost side of the Farmers & Merchants Bancorp, Inc. (FMAO) business model, you see a structure heavily influenced by managing funding costs and maintaining a physical presence, even as efficiency improves. The bank is clearly focused on disciplined balance sheet management, which directly impacts its largest variable cost.

The primary driver in the funding cost area is the management of liabilities. Farmers & Merchants Bancorp, Inc. reported managing a cost of interest-bearing liabilities of 2.84% for the nine months ended September 30, 2025. This figure reflects a successful effort to keep the cost of funds in check while total deposits grew to $2.75 billion as of that same date. This focus on deposit pricing discipline is key to protecting the net interest margin.

Next, you have the fixed and semi-fixed costs associated with the physical footprint and the people who run it. Farmers & Merchants Bancorp, Inc. supports its community banking model with a network of 38 full-service offices across Ohio, Indiana, and Michigan. These locations necessitate significant personnel and compensation expenses for branch staff, tellers, and relationship managers, which are essential for their value proposition. Also factored in are the occupancy and equipment costs for this 38 office footprint, covering leases, maintenance, and necessary physical assets.

To keep pace with modern banking expectations, technology investment remains a necessary, ongoing cost to support the digital infrastructure. This covers everything from core processing systems to online and mobile banking platforms. Furthermore, as a regulated financial institution, Farmers & Merchants Bancorp, Inc. incurs substantial costs related to regulatory compliance and insurance, which are non-negotiable expenses in this industry.

Here's a quick look at some of the key financial metrics that reflect the efficiency of these costs as of late 2025:

Cost/Efficiency Metric	Value (YTD 9 Months Ended 9/30/2025)	Context
Cost of Interest-Bearing Liabilities	2.84%	Reflects disciplined deposit pricing
Efficiency Ratio	63.11%	Improvement from 67.98% year-over-year
Total Full-Service Offices	38	Physical footprint size
Total Deposits	$2.75 billion	Base for funding costs
Noninterest Expense Growth	Rose 5.2%	Year-over-year change for Q1 2025

You can see the impact of managing these costs reflected in the operational performance metrics. The drive for efficiency is evident, but the underlying fixed costs of the branch network are still a major component of the structure. Key cost drivers you need to track include:

• Interest expense on deposits, managing a cost of interest-bearing liabilities of 2.84% YTD 2025.
• Significant personnel and compensation expenses for branch staff.
• Occupancy and equipment costs for the 38 office footprint.
• Technology investment to support digital infrastructure.
• Regulatory compliance and insurance costs.

The improvement in the efficiency ratio to 63.11% for the nine months ended September 30, 2025, shows that revenue growth is outpacing the growth in these operating expenses, which is a positive sign for cost control efforts. Finance: draft the next quarter's noninterest expense forecast by next Tuesday.

Farmers & Merchants Bancorp, Inc. (FMAO) - Canvas Business Model: Revenue Streams

You're looking at the core ways Farmers & Merchants Bancorp, Inc. brings in money as of late 2025. For a community bank, this is all about the spread between what you earn on assets and what you pay on liabilities, plus the fees you charge for services. It's a straightforward model, but execution on the margin is what matters.

The primary revenue driver remains the interest earned on the lending book. As of the third quarter ending September 30, 2025, the total loan portfolio, net, stood at $2.66 billion. This asset base generated significant Net Interest Income (NII) for the quarter, which reached $26.90 million. The efficiency of this core business is clear from the Net Interest Margin (NIM), which expanded to 3.40% for the quarter.

Beyond the balance sheet, Farmers & Merchants Bancorp, Inc. captures revenue through various non-interest sources. For Q3 2025, total Noninterest Income was reported at $4.36 million. This stream is where the contribution from the F & M Insurance, LLC subsidiary fits in, though the specific dollar amount for the subsidiary isn't broken out in the headline figures; it's part of that total non-interest bucket, which also includes service charges and fees.

The bottom line for the quarter reflects this successful revenue generation. Net income for Q3 2025 was $8.9 million, marking the 90th consecutive quarter of profitability for Farmers & Merchants Bancorp, Inc..

Here's a quick look at the key financial performance indicators that feed into these revenue streams for the third quarter of 2025:

Revenue Component/Metric	Q3 2025 Amount
Net Income	$8.9 million
Net Interest Income (before provision)	$26.90 million
Total Loans, Net	$2.66 billion
Total Noninterest Income	$4.36 million
Net Interest Margin (NIM)	3.40%

The revenue streams are supported by several operational highlights that you should keep in mind:

• Loan growth was 4.9% year-over-year to $2.66 billion.
• Deposits grew 2.5% year-over-year to $2.75 billion.
• The cost of interest-bearing liabilities improved to approximately 2.83% in Q3.
• The efficiency ratio improved to 63.11%.
• The company declared its 31st consecutive annual dividend increase.

Finance: draft 13-week cash view by Friday.