FMCB on OTC

FARMERS & MERCHANTS BANCORP

American national commercial bank, incorporated in Delaware1

In its 2026 annual report the company says: “The Company operates 30 full-service branches and 3 stand-alone ATMs.”3 It is headquartered in Lodi, California.1 Its shares trade on OTC under the symbol FMCB.1

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Last updated Oct 20, 2026.

Overview

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  • TickerFMCB on OTC1
  • IndustryNational Commercial Banks1
  • HeadquartersLodi, California1
  • Incorporated inDE2
  • Business addressFarmers And Merchants Bancorp, 121 West Pine St, Lodi, Ca 95240-21842
  • Filer categoryAccelerated filer2

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Napa, Alameda, and Contra Costa counties. The Company operates 30 full-service branches and 3 stand-alone ATMs. The following statistical data, for the counties in our market area, as of the most recent date available, are set forth below:3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income45678$93.6M in 2025+67% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $56.0M$56.0M20192020: $58.7M$58.7M2020+5%2021: $66.3M$66.3M2021+13%2022: $75.1M$75.1M2022+13%2023: $88.3M$88.3M2023+18%2024: $88.5M$88.5M2024+0%2025: $93.6M$93.6M2025+6%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Interest and fees on loans and leases$218.7M$223.3M$204.5M
Interest and dividends on investment securities$49.0M$31.9M$22.4M
Interest on deposits with others$11.8M$16.9M$26.9M
Total interest income$279.5M$272.0M$253.8M
Deposits$59.6M$63.4M$37.5M
Borrowed funds$0$986.0K$0
Subordinated debentures$767.0K$871.0K$846.0K
Total interest expense$60.3M$65.3M$38.4M
Net interest income$219.2M$206.7M$215.4M
Provision for credit losses$3.5M$0$9.4M
Net interest income after provision for credit losses$215.7M$206.7M$206.0M
Card processing$7.0M$7.0M$6.7M
Service charges on deposit accounts$3.1M$3.1M$2.8M
Increase in cash surrender value of BOLI$2.5M$2.4M$2.0M
Gain on BOLI death benefit$0$4.0K$4.3M
Net gain/(loss) on sale of securities$44.3K$743.0K-$8.2M
Net gain on deferred compensation benefits$4.6M$3.3M$3.0M
Other$6.3M$4.2M$4.3M
Total non-interest income$23.6M$20.7M$14.9M
Salaries and employee benefits$74.1M$72.5M$70.9M
Data processing$6.9M$6.1M$5.3M
Occupancy$5.1M$5.1M$4.8M
Deposit insurance$3.0M$2.9M$2.8M
Professional services$3.7M$3.6M$2.3M
Marketing$1.9M$2.0M$1.9M
Net gain on deferred compensation benefits$4.6M$3.3M$3.0M
Other$11.2M$9.8M$13.4M
Total non-interest expense$110.5M$105.1M$104.3M
INCOME BEFORE INCOME TAXES$128.8M$122.2M$116.6M
Income tax expense$35.2M$33.8M$28.2M
NET INCOME$93.6M$88.5M$88.3M
Basic (in Dollars per share)$134.96$121.02$116.61
Diluted (in Dollars per share)$133.96$121.02$116.61
Basic (in Shares)693.6K shares730.9K shares757.3K shares
Diluted (in Shares)698.8K shares730.9K shares757.3K shares

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Corporate structure

FARMERS & MERCHANTS BANCORP sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FARMERS & MERCHANTS BANCORP

  • Farmers & Merchants Bank of Central California Filed SCHEDULE 13G/A on FARMERS & MERCHANTS BANCORP, latest Feb 19, 2026 (2 filings since Feb 15, 2022)
  • CORTOPASSI PARTNERS LP Filed SC 13G/A on FARMERS & MERCHANTS BANCORP, latest Dec 4, 2024 (2 filings since Feb 5, 2024)
  • FARMERS & MERCHANTS BANCORP Lodi, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FARMERS & MERCHANTS BANCORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$96.7M8 Dec 31, 2025$89.9M8 Dec 31, 2024+7.6%
Accumulated depreciation$40.9M8 Dec 31, 2025$38.6M8 Dec 31, 2024+6.1%
Property and equipment, net$55.8M8 Dec 31, 2025$51.4M8 Dec 31, 2024+8.7%
Operating-lease assets (leased space)$1.6M8 Dec 31, 2025$2.2M8 Dec 31, 2024−27.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$144.9M8 Dec 31, 2025$212.6M8 Dec 31, 2024−31.8%
Debt securities available for sale$951.2M8 Dec 31, 2025$464.4M8 Dec 31, 2024+104.8%
Debt securities held to maturity$718.6M8 Dec 31, 2025$769.4M8 Dec 31, 2024−6.6%
Deposits held (banks)$5.0B8 Dec 31, 2025$4.7B8 Dec 31, 2024+5.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$11.2M8 Dec 31, 2025$11.2M8 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$1.2M8 Dec 31, 2025$1.7M8 Dec 31, 2024−30.9%

Properties, in its own words

The Company and Bank are headquartered in Lodi, California. Executive offices are located at 111 W. Pine Street. We own our headquarters, loan servicing center, administrative offices, warehouses and parking lots along with land for future banking locations. Banking services are provided in 30 branch locations in the Company's service area. Of the 30 branches, 20 are owned and 10 are leased. The expiration of these leases occurs between the years 2026 and 2030, however most of these leases have extension options that typically range from 5 to 10 years. See Note 16 “Leases”, located in Item 8. “Financial Statements and Supplementary Data” in this Form 10-K.

Item 2 of the 10-K filed Mar 13, 2026.3

Leadership

Who has led FARMERS & MERCHANTS BANCORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kent A. Steinwert2007–now

President

  1. Kent A. Steinwert2007–now
2010201520202025
Board members and other officers (32)

Timeline

  1. Aug 13, 20268-K Other events44
  2. Jul 23, 20268-K Regulation FD disclosure45
  3. Jul 20, 20268-K Results of operations46
  4. Jun 11, 20268-K Executive or director change47
  5. May 13, 20268-K Shareholder vote48
  6. May 12, 20268-K Other events49
  7. Apr 23, 20268-K Regulation FD disclosure50
  8. Apr 20, 20268-K Results of operations51
  9. Feb 12, 20268-K Other events52
  10. Feb 2, 20268-K Results of operations53
  11. Feb 2, 20268-K Regulation FD disclosure54
  12. Nov 24, 20258-K Other events55
  13. Nov 7, 2007New chief executive Kent A. Steinwert becomes CEO12

Calendar

When it reported results

  1. Jul 20, 2026Reported quarterly or annual results46
  2. Apr 20, 2026Reported quarterly or annual results51
  3. Feb 2, 2026Reported quarterly or annual results53
  4. Oct 16, 2025Reported quarterly or annual results56
  5. Jul 17, 2025Reported quarterly or annual results57
  6. Apr 16, 2025Reported quarterly or annual results58
  7. Jan 22, 2025Reported quarterly or annual results59
  8. Oct 16, 2024Reported quarterly or annual results60

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

304 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 70 major events, 199 insider forms, 6 large holders, 9 other. The latest 20:

  1. Oct 14, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 14, 20264 PRIMARY DOCUMENT EDGAR
  3. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  4. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  5. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  6. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  9. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  10. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  11. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  12. Aug 25, 20264/A PRIMARY DOCUMENT EDGAR
  13. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  16. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  17. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 13, 20268-K EDGAR
  19. Aug 7, 202610-Q EDGAR
  20. Aug 6, 20264 PRIMARY DOCUMENT EDGAR

The 304 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

24 open-market trades by officers, directors and large owners since October 2021: 23 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 5, 2025SANGUINETTI KEVINDirectorBuy10$1,043.00$10.4KForm 4
Jul 22, 2024SUESS CALVIN JDirectorSale300$970.39$291.1KForm 4
Aug 10, 2023James Craig W.DirectorBuy50$965.00$48.2KForm 4
Jun 22, 2022SANGUINETTI KEVINDirectorBuy10$925.00$9.2KForm 4
Jun 22, 2022SANGUINETTI KEVINDirectorBuy10$925.00$9.2KForm 4
Jun 22, 2022SANGUINETTI KEVINDirectorBuy10$925.00$9.2KForm 4
Jun 22, 2022SANGUINETTI KEVINDirectorBuy10$925.00$9.2KForm 4
May 17, 2022Misasi J. RyanExecutive Vice PresidentBuy7$940.00$6.6KForm 4
Mar 23, 2022Zitterow DavidExecutive Vice PresidentBuy64$935.00$59.8KForm 4
Mar 23, 2022Young Terrence ADirectorBuy26$935.00$24.3KForm 4
Mar 23, 2022SUESS CALVIN JDirectorBuy34$935.00$31.8KForm 4
Mar 23, 2022SKINNER DEBORAH EDirectorBuy85$935.00$79.5KForm 4
Mar 23, 2022SANGUINETTI KEVINDirectorBuy34$935.00$31.8KForm 4
Mar 23, 2022Olson Mark KBuy85$935.00$79.5KForm 4
Mar 23, 2022Misasi J. RyanExecutive Vice PresidentBuy85$935.00$79.5KForm 4
Mar 23, 2022Long Gary J.DirectorBuy34$935.00$31.8KForm 4
Mar 23, 2022James Craig W.DirectorBuy26$935.00$24.3KForm 4
Mar 23, 2022Green Steven K.DirectorBuy34$935.00$31.8KForm 4
Mar 23, 2022CORUM EDWARD JRDirectorBuy34$935.00$31.8KForm 4
Feb 14, 2022Olson Mark KBuy70$950.00$66.5KForm 4

All 24 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Kent A. Steinwert73$895.0K$12.6M63
2025Bart R. Olson58$567.5K$3.7M63
2025Ryan J. Misasi49$410.0K$3.5M63
2025David M. Zitterow54$406.2K$2.0M63
2025John Weubbe64$380.0K$1.7M63
2024ChairmanPresident$895.0K$6.2M63
2024Executive VicePresident$550.0K$2.1M63
2023& Chief Executive Officer$895.0K$6.1M63
2023Chief Financial Officer$423.1K$1.7M63
2023Retail Banking Division Manager$380.8K$1.6M63
2023Director of Wholesale Banking$358.3K$1.3M63
2023Chief Credit Officer$332.3K$931.4K63

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Siena Capital Partners GP, LLC3,662$4.7M1.1%No change
Ancora Advisors LLC11$14.1K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How FARMERS & MERCHANTS BANCORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFARMERS & MERCHANTS BANCORP1
  • CIK0001085913
  • Employer ID (EIN)94-33278283
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6021 National Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business addressFarmers And Merchants Bancorp, 121 West Pine St, Lodi, CA 95240-21841
  • Phone20936724111
  • Shares outstanding691,944 as of Jul 31, 202610
  • Public float$634.2M as of Jun 30, 20253
  • AuditorCrowe LLP, Sacramento, California PCAOB ID 173; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceMay 14, 19991
  • Filings1,195 in all: 4 (650), 8-K (223), 4/A (94), 10-Q (82), DEF 14A (28), 10-K (27), 3 (20), SC 13G/A (11)1
    All 29 form types

    425 (9), UPLOAD (8), SC 13G (7), D (6), CORRESP (5), PRE 14A (4), 8-K/A (3), D/A (3), 10-K/A (2), 8-A12G/A (2), 10-Q/A (1), 3/A (1), 424B3 (1), 8-A12G (1), 8-K12G3 (1), ARS (1), EFFECT (1), S-4 (1), S-4/A (1), S-8 (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Apr 1, 2026
    Latest 8-K (8-K) Aug 13, 2026

Risk factors and legal proceedings

The risks FARMERS & MERCHANTS BANCORP names in Item 1A of its 10-K filed Mar 13, 2026: 37 risks under these headings, as written.3

  • Risks Relating to the Industry and Geographic Area in Which We Operate and the U.S. Economy
  • As a financial services company, our business and operations may be adversely affected by weak economic conditions.
  • A large portion of our loan portfolio is tied to the real estate market where we operate and we may be negatively impacted by downturns in that market.
  • The small to medium-sized businesses, including agricultural businesses, that we lend to may have fewer resources to weather adverse business and economic developments, which may impair their ability to repay a loan, and such impairment could adversely affect our operations and financial condition.
  • Our profitability depends on interest rates generally, and we may be adversely affected by changes in market interest rates.
  • We face strong competition from banks, credit unions and other financial services providers that offer banking services, which may limit our ability to attract and retain banking clients.
  • Our financial results may be impacted by the cyclicality and seasonality of our agricultural lending business.
  • The impact of climate change and governmental and societal responses to climate change, including on the availability of water and the transition to a low-carbon economy, could adversely affect our business and our clients’ businesses.
  • Risks Related to Our Growth
  • If we are not able to manage our growth effectively, our future prospects and competitive position could be diminished and our profitability could be reduced. We may also incur higher than anticipated costs, and our ability to execute our growth strategy could be impaired.
  • Entering new market areas, new lines of business, or new products and services may subject us to additional risks. A failure to successfully manage these risks may have a material adverse effect on our business.
  • Risks Related to Our Personnel
The other 27 risks
  • We may have difficulty attracting additional necessary personnel, which may divert resources and limit our ability to successfully expand our operations.
  • The unexpected loss of key officers would materially and adversely affect our ability to execute our business strategy, and diminish our future prospects.
  • As a community bank, our ability to maintain our positive reputation is critical to the success of our business. The failure to maintain that reputation may materially and adversely affect our financial performance.
  • Risks Related to Our Financial Practices
  • Our allowance for credit losses may not be adequate to cover actual losses.
  • Our financial and accounting estimates and risk management framework rely on analytical forecasting and models, and our risk exposures and losses could be significantly greater than our models indicated.
  • Impairment of investment securities could require charges to earnings, which would negatively affect our operations.
  • Changes in accounting standards could materially affect our financial statements.
  • Risks Related to Our Access to Capital
  • We may be unable to, or choose not to, pay dividends on our common shares.
  • The price of our common shares may fluctuate significantly particularly given the illiquid nature of our common stock and our stock may have low trading volumes, which may make it difficult for a shareholder to resell common shares owned at times or prices they find attractive.
  • If we need additional capital in the future to continue our growth, we may not be able to obtain it on terms that are favorable.
  • Our funding sources may prove insufficient to provide liquidity, replace deposits and support our future growth.
  • We may be adversely affected by the lack of soundness of other financial institutions or financial market utilities.
  • Risks Related to Cybersecurity and Information Technology
  • Cyber-attacks or other security breaches could have a material adverse effect on our business.
  • We rely on our information technology and telecommunications systems and third-party servicers, and the failure of these systems could adversely affect our business.
  • Other Operational Risks
  • Our risk management framework may not be effective in mitigating risks and losses to us.
  • We are subject to certain operating risks, related to client or employee fraud, which could harm our reputation and business.
  • We depend on the accuracy and completeness of information about clients and counterparties, and our financial condition, operations, financial reporting and reputation could be negatively affected if this information is materially misleading, false, inaccurate or fraudulent.
  • Catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, floods, prolonged drought, and pandemics may adversely affect the general economy, financial and capital markets, specific industries, and the Bank.
  • Risks Related to Our Regulatory Environment
  • We are subject to regulation, which increases the cost and expense of regulatory compliance, and may restrict our growth and our ability to acquire other financial institutions.
  • Banking agencies periodically conduct examinations of our business, including compliance with laws and regulations, and our failure to comply with any regulatory actions to which we become subject because such examinations could materially and adversely affect us.
  • Changes in laws, government regulation and monetary policy may have a material adverse effect on our operations.
  • We are subject to stringent capital requirements.
  • We may be required to contribute capital or assets to the Bank that could otherwise be invested or deployed more profitably elsewhere.
  • We face a risk of non-compliance and enforcement actions with respect to the Bank Secrecy Act (“BSA”) and other anti-money laundering statutes and regulations.
  • We are subject to federal and state fair lending laws, and failure to comply with these laws could lead to material penalties.
  • Regulations relating to privacy, information security and data protection could increase our costs, affect or limit how we collect and use personal information and adversely affect our business opportunities.
  • Possible changes in the U.S. tax laws could adversely affect our business and result of operations in a variety of ways.

Legal proceedings

Certain lawsuits and claims arising in the ordinary course of business may be filed or pending against the Company or its subsidiaries. Based upon information available to the Company, its review of such lawsuits and claims and consultation with its counsel, the Company believes the liability relating to these actions, if any, would not have a material adverse effect on its consolidated financial statements. There are no material proceedings adverse to the Company to which any director, officer or affiliate of the Company is a party.

The opening of Item 3, Legal Proceedings.3

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