Farmers & Merchants Bancorp (OTCQX: FMCB), the parent company of Farmers & Merchants Bank of Central California (F&M Bank), was recognized as the #1 Performing Bank in the nation across all asset categories for 2022 according to Bank Director Magazine’s 2023 “RankingBanking” study.
The RankingBanking study scores the 300 largest publicly traded banks nationally based on yearend performance for 2022, using return on average equity, return on average assets, capital adequacy, asset quality and one-year total shareholder return. Banks are scored on each of the five metrics. The scores are merged into an overall score, which determines the ranking. The data is compiled by Piper Sandler & Co. using S&P Global Market Intelligence data.
"We are extremely honored to be ranked as the #1 Performing Bank in the nation by Bank Director Magazine," said Kent A. Steinwert, Chairman, President and CEO of Farmers & Merchants Bancorp (FMCB). “Our extraordinary financial results in 2022 and through the first half of 2023 continue our long history of superior performance. Since the founding of the company, 107-years ago, we have followed the operating philosophy of serving the needs of our four key constituents in a balanced manner. Our strategies have resulted in long-term shareholder value creation, stable career opportunities for employees, value-based and superior service to our customers and significant reinvestment in the communities we serve to improve the overall quality of life.
“The Board of Directors extends our sincere gratitude to our customers, employees, shareholders and communities for their ongoing support of Farmers & Merchants Bancorp (FMCB). We are humbled by Bank Director Magazine’s recognition and are proud to have been trusted for generations in the communities we serve.”
Founded in 1916, F&M Bank is a locally owned and operated community bank, which serves Central California with 32 locations Sacramento, San Joaquin, Solano, Stanislaus, Merced, Napa, Alameda and Contra Costa counties. F&M Bank has two locations in Turlock, downtown at 121 S. Center St., and a recently completed bank building on the corner of Geer and Tuolumne roads
F&M Bank offers a full complement of loan, deposit, equipment leasing and treasury management products to businesses, as well as a full suite of consumer banking products.
F&M Bank has over $5.3 billion in assets, and is consistently recognized as one of the nation's safest banks by national bank rating firms. The bank has maintained a 5-Star rating from BauerFinancial for 31 consecutive years, longer than any other commercial bank in the State of California. The FDIC rated Farmers & Merchants Bank of Central California "Outstanding" in their 2022 Community Reinvestment Act examination. This is the highest possible rating.
This is not the first accolade Farmers & Merchants has received.
Farmers & Merchants Bancorp has distributed cash dividends to its shareholders for 88 consecutive years and has increased the annual cash dividend for 58 consecutive years. As a result, Farmers & Merchants Bancorp is a member of a select group of only 50 publicly traded companies referred to as “Dividend Kings,” and is ranked 15th in that group and is the highest ranking bank in the nation.
F&M Bank was named the “Best Community Bank in California” by Newsweek magazine, in October 2021. Newsweek’s ranking recognizes those financial institutions that best serve their customers’ needs in each state. This recognition speaks to the superior customer service the F&M Bank team members provide to its clients.
F&M Bank is the 14th largest bank lender to agriculture in the United States. It was inducted into the National Agriculture Science Center’s “Ag Hall of Fame” at the end of 2021 for providing resources, financial advice, guidance, and support to the agribusiness communities as well as to students in the next generation of agribusiness workforce.
