- Farmers & Merchants Bancorp (FMAO) manages **$3.4 billion in assets**, demonstrating robust growth with a **16% CAGR in asset growth** and **7% CAGR in net income** over the last ten years.  **[792966_2147586_1]**  The company has also consistently rewarded shareholders by **raising its dividend for thirty consecutive years**.  **[792966_2147586_1]** 
- The bank has achieved significant expansion, **tripling in size over the last seven years** through a balanced strategy of **$1.2 billion in organic growth and $1.2 billion through acquisitions**.  **[792966_2147586_1]**  This includes successful De Novo offices, which have generated **over $80 million in deposits** from four new branches.  **[792966_2147586_2]** 
- FMAO highlights its strong asset quality, evidenced by **0% net charge-offs** and a **30-90 day pass-through of 14 basis points**, positioning it in the **top 5 percentile** of its peer group.  **[792966_2147586_7]** **[792966_2147586_11]**  The lending portfolio is diversified, with **over 51% in commercial real estate** and a strategic **50/50 fixed and variable loan mix**.  **[792966_2147586_6]** **[792966_2147586_7]** 
- The company's Net Interest Margin (NIM) has improved from approximately **2.63% to 3.13%**  **[792966_2147586_8]** , with expectations for further expansion if interest rates drop by another 100 basis points.  **[792966_2147586_9]**  FMAO is targeting a **1.25% Return on Assets (ROA)**, an efficiency ratio in the **50s**, and a NIM of **3.25% or better**.  **[792966_2147586_8]** 
- A key differentiator is FMAO's **agribusiness, which constitutes 25% of the loan book**, characterized by low delinquency rates around **30 basis points** and **95% of customers having crop insurance**.  **[792966_2147586_7]** **[792966_2147586_8]**  The bank also diversifies revenue through non-interest income streams like treasury management, card contracts, and **nearly $400 million in Assets Under Management (AUM)** from its investment business.  **[792966_2147586_4]**

FARMERS & MERCHANTS BANCORP (FMAO)