Overview

* Farmers & Merchants Q3 net income rises 35.9% to $8.9 mln

* Pretax profit for Q3 beats analyst estimates

* Company opened new office in Troy, Michigan, expanding its footprint

Outlook

* Company did not provide specific financial guidance for future quarters or full year

Result Drivers

* NET INTEREST MARGIN - Increased by 69 basis points to 3.40%, contributing to higher net income

* LOAN GROWTH - Total loans, net increased by $123.0 mln, driven by commercial and agricultural sectors

* DEPOSIT GROWTH - Total deposits rose by $67.1 mln, supported by relationship-based banking solutions

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.64

Q3 Net $8.85

Income mln

Q3 Beat $11.23 $10.30

Pretax mln mln (3

Profit Analysts

)

Q3 Basic $0.64

EPS

Q3 Loan $557,000

Loss

Provisio

n

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)