Farmers and Merchants Bancshares Inc
Farmers and Merchants Bancshares, Inc. operates as the bank holding company for Farmers and Merchants Bank that provides commercial and retail banking services to individuals and businesses in Maryland. It offers checking, savings, money market, individual retirement, and sweep accounts, as well as certificates of deposit, remote check deposits, and repurchase agreements. The company also provide… Read more
Farmers and Merchants Bancshares Inc (FMFG) - Net Assets
Latest net assets as of December 2025: $64.66 Million USD
Based on the latest financial reports, Farmers and Merchants Bancshares Inc (FMFG) has net assets worth $64.66 Million USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($871.96 Million) and total liabilities ($807.30 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $64.66 Million |
| % of Total Assets | 7.42% |
| Annual Growth Rate | 6.78% |
| 5-Year Change | 14.2% |
| 10-Year Change | 65.74% |
| Growth Volatility | 5.48 |
Farmers and Merchants Bancshares Inc - Net Assets Trend (2002–2025)
This chart illustrates how Farmers and Merchants Bancshares Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Farmers and Merchants Bancshares Inc (2002–2025)
The table below shows the annual net assets of Farmers and Merchants Bancshares Inc from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $64.66 Million | +14.91% |
| 2024-12-31 | $56.27 Million | +7.85% |
| 2023-12-31 | $52.18 Million | +9.22% |
| 2022-12-31 | $47.77 Million | -15.62% |
| 2021-12-31 | $56.62 Million | +7.30% |
| 2020-12-31 | $52.77 Million | +5.66% |
| 2019-12-31 | $49.94 Million | +7.93% |
| 2018-12-31 | $46.27 Million | +8.35% |
| 2017-12-31 | $42.71 Million | +9.47% |
| 2016-12-31 | $39.01 Million | +7.70% |
| 2015-12-31 | $36.22 Million | +10.77% |
| 2014-12-31 | $32.70 Million | +11.58% |
| 2013-12-31 | $29.31 Million | +7.81% |
| 2012-12-31 | $27.19 Million | +10.02% |
| 2011-12-31 | $24.71 Million | +9.28% |
| 2010-12-31 | $22.61 Million | +8.12% |
| 2009-12-31 | $20.91 Million | +4.32% |
| 2008-12-31 | $20.05 Million | +1.73% |
| 2007-12-31 | $19.70 Million | +4.99% |
| 2006-12-31 | $18.77 Million | +8.92% |
| 2005-12-31 | $17.23 Million | +7.07% |
| 2004-12-31 | $16.09 Million | +4.78% |
| 2003-12-31 | $15.36 Million | +7.33% |
| 2002-12-31 | $14.31 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Farmers and Merchants Bancshares Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2132.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $45.21 Million | 69.92% |
| Common Stock | $32.00K | 0.05% |
| Other Comprehensive Income | $-12.73 Million | -19.69% |
| Other Components | $32.15 Million | 49.72% |
| Total Equity | $64.66 Million | 100.00% |
Farmers and Merchants Bancshares Inc Competitors by Market Cap
The table below lists competitors of Farmers and Merchants Bancshares Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GIGANTE SALMON AS NK 1
F:96M
|
$42.14 Million |
|
Inmax Holding Co Ltd
TWO:1591
|
$42.14 Million |
|
Batulicin Nusantara Maritim Tbk PT
JK:BESS
|
$42.15 Million |
|
VOC Energy Trust
NYSE:VOC
|
$42.15 Million |
|
Samick Thk
KO:004380
|
$42.11 Million |
|
Medicenna Therapeutics Corp
OTCQX:MDNAF
|
$42.11 Million |
|
LumenRadio AB
ST:LUMEN
|
$42.11 Million |
|
Pettenati S.A. Industria Têxtil
SA:PTNT3
|
$42.08 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Farmers and Merchants Bancshares Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 56,272,000 to 64,660,000, a change of 8,388,000 (14.9%).
- Net income of 5,766,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 3,779,000.
- Other factors decreased equity by 1,157,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $5.77 Million | +8.92% |
| Other Comprehensive Income | $3.78 Million | +5.84% |
| Other Changes | $-1.16 Million | -1.79% |
| Total Change | $- | 14.91% |
Book Value vs Market Value Analysis
This analysis compares Farmers and Merchants Bancshares Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.77x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.72x to 0.77x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | $5.80 | $15.75 | x |
| 2003-12-31 | $6.12 | $15.75 | x |
| 2004-12-31 | $6.36 | $15.75 | x |
| 2005-12-31 | $6.76 | $15.75 | x |
| 2006-12-31 | $7.37 | $15.75 | x |
| 2007-12-31 | $7.54 | $15.75 | x |
| 2008-12-31 | $7.63 | $15.75 | x |
| 2009-12-31 | $7.89 | $15.75 | x |
| 2010-12-31 | $8.43 | $15.75 | x |
| 2011-12-31 | $9.08 | $15.75 | x |
| 2012-12-31 | $9.89 | $15.75 | x |
| 2013-12-31 | $10.51 | $15.75 | x |
| 2014-12-31 | $11.58 | $15.75 | x |
| 2015-12-31 | $12.67 | $15.75 | x |
| 2016-12-31 | $13.49 | $15.75 | x |
| 2017-12-31 | $14.40 | $15.75 | x |
| 2018-12-31 | $15.52 | $15.75 | x |
| 2019-12-31 | $16.75 | $15.75 | x |
| 2020-12-31 | $17.34 | $15.75 | x |
| 2021-12-31 | $18.76 | $15.75 | x |
| 2022-12-31 | $15.68 | $15.75 | x |
| 2023-12-31 | $16.91 | $15.75 | x |
| 2024-12-31 | $17.96 | $15.75 | x |
| 2025-12-31 | $20.54 | $15.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Farmers and Merchants Bancshares Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.92%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.61%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 13.49x
- Recent ROE (8.92%) is below the historical average (9.46%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 6.45% | 10.49% | 0.07x | 9.37x | $-508.63K |
| 2003 | 8.32% | 15.51% | 0.06x | 9.49x | $-258.75K |
| 2004 | 7.41% | 14.21% | 0.06x | 9.45x | $-416.10K |
| 2005 | 9.47% | 21.68% | 0.05x | 9.24x | $-90.90K |
| 2006 | 10.17% | 22.85% | 0.05x | 8.53x | $32.40K |
| 2007 | 7.50% | 12.51% | 0.07x | 8.80x | $-493.21K |
| 2008 | 3.52% | 6.07% | 0.06x | 9.86x | $-1.30 Million |
| 2009 | 5.92% | 9.91% | 0.06x | 10.23x | $-853.41K |
| 2010 | 9.72% | 16.49% | 0.06x | 10.64x | $-63.31K |
| 2011 | 9.17% | 15.85% | 0.06x | 10.29x | $-204.44K |
| 2012 | 11.62% | 21.21% | 0.05x | 10.16x | $439.40K |
| 2013 | 11.13% | 24.46% | 0.04x | 10.23x | $330.03K |
| 2014 | 10.93% | 25.46% | 0.04x | 9.87x | $303.73K |
| 2015 | 11.78% | 27.53% | 0.04x | 9.53x | $645.89K |
| 2016 | 10.02% | 23.25% | 0.04x | 9.74x | $7.90K |
| 2017 | 9.07% | 21.13% | 0.04x | 9.65x | $-390.65K |
| 2018 | 10.38% | 24.62% | 0.05x | 9.20x | $173.21K |
| 2019 | 9.22% | 22.60% | 0.05x | 8.94x | $-384.55K |
| 2020 | 5.18% | 14.30% | 0.03x | 13.09x | $-2.49 Million |
| 2021 | 14.39% | 29.64% | 0.04x | 12.66x | $2.49 Million |
| 2022 | 16.93% | 28.80% | 0.04x | 15.03x | $3.31 Million |
| 2023 | 12.30% | 19.81% | 0.04x | 15.33x | $1.20 Million |
| 2024 | 7.60% | 10.84% | 0.05x | 15.01x | $-1.35 Million |
| 2025 | 8.92% | 13.61% | 0.05x | 13.49x | $-700.00K |
Industry Comparison
This section compares Farmers and Merchants Bancshares Inc's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Farmers and Merchants Bancshares Inc (FMFG) | $64.66 Million | 6.45% | 12.49x | $42.13 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |