Farmers and Merchants Bank of Long Beach (FMBL) Q1 2026 earnings summary

Executive summary

• Achieved improvements in all operating performance measures compared to the prior year period.

• Balance sheet remains strong with capital ratios exceeding most peers and regulatory requirements.

• Benefited from a stable interest rate environment, supporting net interest margin expansion and deposit stability.

• Credit quality remains stable, supported by conservative underwriting standards.

• Efficiency initiatives and technology enhancements continue to drive cost discipline.

Financial highlights

• Net income rose to $21.9 million, or $157.45 per diluted share, up from $16.8 million, or $136.27 per diluted share, year-over-year.

• Net interest income before provision for credit losses increased to $77.7 million from $64.1 million year-over-year.

• Net interest margin improved to 2.71% from 2.28% year-over-year.

• Total assets reached $11.86 billion, up from $11.80 billion sequentially.

• Total deposits were $8.94 billion, nearly flat sequentially.

Outlook and guidance

• Management expresses confidence in continued long-term progress, citing macroeconomic tailwinds and improved fundamentals.

• Forward-looking statements highlight potential for accelerated, profitable growth but caution on risks and uncertainties.