Farmers & Merchants Bancorp (FMCB) is a bank holding company that operates through its subsidiary, Farmers & Merchants Bank of Central California. The company provides a wide range of banking services, including lending, deposit, and investment products, primarily serving small to medium-sized businesses and local consumers in California's Central Valley and East Bay regions. FMCB emphasizes personalized service and offers a comprehensive suite of financial products.
-
Lending Products - Offers commercial loans, commercial real estate loans, real estate construction loans, agribusiness loans, consumer loans, residential real estate loans, equipment leases, and credit card loans.
- Commercial Loans - Includes term loans, leases, lines of credit, working capital financing, and letters of credit.
- Consumer Loans - Provides automobile financing, home improvement loans, and home equity lines of credit.
-
Deposit Products - Provides checking accounts, savings accounts, money market accounts, time certificates of deposit, individual retirement accounts, and online banking services for both business and personal accounts.
-
Specialized Commercial Services - Offers merchant credit card programs, lockbox and other collection services, account reconciliation, investment sweep services, online account access, domestic and international wire transfers, and automated clearinghouse services.
-
Investment Products - Offers mutual funds and annuities through a third-party investment advisor.
You might also like
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Kent A. Steinwert [Mar 17 ExecutiveBoard | President and Chief Executive Officer | Kent A. Steinwert has served as a Director since 1998 and is currently the President, Chief Executive Officer, and Chairman of the Board at FMCB with 49 years of experience in business, agriculture, real estate, and consumer banking. | View Report → | |
Bart R. Olson [Mar 17 Executive | Executive Vice President and Chief Financial Officer (CFO) | Bart R. Olson joined FMCB as the Executive Vice President and Chief Financial Officer (CFO) effective March 27, 2023. He has over a decade of experience in financial leadership, including nine years as a financial institutions audit Partner at KPMG and senior-level roles at several financial institutions. | ||
David M. Zitterow [Mar 17 Executive | Executive Vice President and Director of Wholesale Banking Division | David M. Zitterow is the Executive Vice President and Director of Wholesale Banking Division at FMCB since 2017. Previously, he served as EVP, Director of Banking at FMCB starting in 2017. | ||
Deborah E. Skinner [Apr 1 Executive | Executive Vice President and Chief Administrative Officer | Deborah E. Skinner has served as the Executive Vice President and Chief Administrative Officer at FMCB since 2000. With over 40 years in banking, she has contributed extensively to operational excellence at FMCB and previously held senior roles at Union Safe Deposit Bank and other institutions. | ||
John W. Weubbe [Mar 17 Executive | Executive Vice President and Chief Credit Officer | John W. Weubbe has served as the Executive Vice President and Chief Credit Officer at FMCB since April 1, 2023. Previously, he served as Senior Vice President and Sacramento Market Manager and brings over 30 years of credit administration experience. | ||
Ryan J. Misasi [Mar 17 Executive | Executive Vice President (EVP), Retail Banking Division Manager | Ryan J. Misasi has served as FMCB’s Executive Vice President and Retail Banking Division Manager since 2014, where he oversees the retail banking division under the direction of the Chairman, President, and CEO. | ||
Thomas A. Bennett [Mar 17 Executive | Executive Vice President (EVP), Enterprise Risk Officer | Thomas A. Bennett serves as the Executive Vice President (EVP) and Enterprise Risk Officer at FMCB since 2024. He works under the direction of the Chairman, President, and CEO, and there is no record of board membership or additional external roles. | ||
Craig W. James [Apr 1 Board | Director | Owner/Broker of Northwestern Insurance | Craig W. James has served as a Director at FMCB since 2018 and became a Director of the Company in 2022, contributing his expertise in agriculture and small business as Co-Chairman of the Asset Liability Committee and a Member of the CRA Committee. | |
Edward Corum Board | Director | Managing General Partner of Corum Real Estate | Edward Corum, Jr. has served as a Director at FMCB since 2003 and is actively involved through his roles on the Personnel, Nominating, Audit, and Loan Committees. He provides real estate and financial expertise to guide strategic decisions in the Sacramento market area. | |
Gary J. Long [Apr 1 Board | Director | Owner of Gary J. Long Jewelers | Gary J. Long has been a Director at FMCB since 2014, actively contributing his small business expertise and serving on the Nominating, Asset Liability, and CRA Committees. He is well known for his involvement in the Stockton market area. | |
Kevin Sanguinetti [Apr 1 Board | Director | Kevin Sanguinetti has been a Director at FMCB since 2001 and serves as Chairman of the Audit & Risk Committee, in addition to his roles on the Asset Liability and Personnel Committees. He brings over 23 years of experience in real estate and finance at FMCB and previously served as President at 1st American Title Company in Stockton. | ||
Stephenson K. Green [Apr 1 Board | Director | Stephenson K. Green has served as a Director at FMCB since 2018 and brings over 40 years of experience in commercial banking, specializing in business banking and credit management. |
Recent press releases and 8-K filings for FMCB.
- Farmers & Merchants Bancorp reported net income of $23,055 thousand and diluted earnings per common share of $32.94 for the three months ended June 30, 2025. For the six months ended June 30, 2025, net income was $46,064 thousand and diluted EPS was $65.80.
- The company demonstrated a strong capital position with a Risk-based capital to risk-weighted assets ratio of 15.36% and a Tangible common equity ratio of 11.08% as of June 30, 2025. Asset quality remained robust with no non-performing loans as of June 30, 2025.
- FMCB has a long history of consistent shareholder returns, including 90 consecutive years of dividends and 60 years of continuous increases. Additionally, the company repurchased 5,249 shares during the six months ended June 30, 2025.
- The bank has received significant industry recognition, ranking as the #1 Performing Bank in the U.S. in 2022, #2 in 2023, and #3 in 2024.
- For the second quarter of 2025, Farmers & Merchants Bank reported net income of $13.9 million , or $112.71 per diluted share , an increase from $13.5 million , or $107.86 per diluted share , in the second quarter of 2024.
- Net interest income before provision for credit losses rose to $66.9 million in Q2 2025 from $57.1 million in Q2 2024, with the net interest margin improving to 2.42% from 1.92% over the same period.
- As of June 30, 2025, total assets were $11.40 billion , total deposits were $8.69 billion , and gross loans were $6.47 billion. The Bank's regulatory capital ratios, including a total risk-based capital ratio of 19.16% and a tier 1 leverage ratio of 12.18% , significantly exceed regulatory requirements.
- During the six months ended June 30, 2025, the Bank repurchased 704 shares of its common stock for $4.0 million at an average price of $5,661.92 per share.
- Released on April 30, 2025, the presentation provides an update on the company’s financial position and strategic market focus, including balance sheet and liquidity highlights.
- The document details key operational metrics such as a diversified loan portfolio with strong agricultural and CRE lending segments, disciplined credit management, and notable shareholder returns including a long history of consecutive dividend increases.
- Net income reached $23.0 million in Q1 2025 with diluted earnings per share at $32.86, reflecting sequential and year-over-year improvements.
- The company reported strong liquidity with $607.3 million in cash and $1.3 billion in investment securities, supporting a robust balance sheet.
- Key financial ratios, including a return on average equity of 15.65% and improved tangible book value per share at $843.33, highlight solid capital performance.