Farmers and Merchants Bank of Long Beach (FMBL) Q1 2025 earnings summary

Executive summary

• First quarter 2025 net income rose to $16.8 million, up from $13.0 million in Q1 2024, reflecting strong operational performance amid economic uncertainty.

• Net interest income before recapture of provision for credit losses increased to $64.1 million from $57.4 million year-over-year.

• The bank maintained a healthy balance sheet, with capital ratios far exceeding regulatory requirements.

Financial highlights

• Total interest and dividend income was $104.7 million, down from $108.6 million in Q1 2024; interest expense fell to $40.6 million from $51.2 million.

• Net interest margin improved to 2.28% from 1.91% year-over-year.

• Non-interest income declined to $4.3 million from $8.2 million; non-interest expense decreased to $48.0 million from $50.1 million.

• Diluted EPS rose to $136.27 from $102.71 year-over-year.

Outlook and guidance

• Leadership emphasized resilience and prudent fiscal management, positioning the bank strongly for the remainder of 2025 despite economic uncertainty.