Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Statements of Parent Company [Abstract]

Balance Sheets

Financial information pertaining only to Farmers and Merchants Bancorp, on a parent-only basis, is as follows:

	December 31,
(Dollars in thousands)	2025		2024
Balance sheets
Assets
Cash and cash equivalents	$	1,188	$	285
Investment in subsidiaries		653,302		584,851
Other assets		3,348		163
Total assets	$	657,838	$	585,299
Liabilities and shareholders' equity
Subordinated debentures	$	10,310	$	10,310
Other liabilities		2,014		1,917
Shareholders' equity		645,514		573,072
Total liabilities and shareholders' equity	$	657,838	$	585,299

Statements of Cash Flows

	Year Ended December 31,
(Dollars in thousands)	2025		2024		2023
Statements of income
Dividend and other income from subsidiaries	$	54,800	$	60,900	$	33,300
Interest and dividends		317		26		25
Total income		55,117		60,926		33,325
Reimbursement of expenses from subsidiaries		825		746		705
Other expenses		3,272		2,994		2,321
Total expense		4,097		3,740		3,026
Income before income taxes		51,020		57,186		30,299
Income tax benefit		1,117		1,078		887
		52,137		58,264		31,186
Equity in undistributed net income of subsidiaries		41,468		30,193		57,128
Net income	$	93,605	$	88,457	$	88,314

Statements of Cash Flows

	Year Ended December 31,
(Dollars in thousands)	2025			2024			2023
Statements of Cash Flows
Cash flows from operating activities:
Net income	$	93,605		$	88,457		$	88,314
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of the Bank		(41,468	)		(30,193	)		(57,128	)
Change in other assets and liabilities		555			169			603
Net cash provided by operating activities		52,692			58,433			31,789
Cash flows from investing activities:
Purchase of securities		(3,222	)		-			-
Net cash used in investing activities		(3,222	)		-			-
Cash flows from financing activities:
Common stock repurchases		(2,933	)		(45,261	)		(20,355	)
Purchase of treasury stock		(31,793	)		-			-
Cash dividends paid		(13,841	)		(13,017	)		(12,886	)
Net used in financing activities		(48,567	)		(58,278	)		(33,241	)
Net change in cash and cash equivalents		903			155			(1,452	)
Cash and cash equivalents, beginning of year		285			130			1,582
Cash and cash equivalents, end of year	$	1,188		$	285		$	130