Farmers and Merchants Bank of Long Beach (FMBL) Q3 2025 earnings summary

Executive summary

• Third quarter 2025 results show improved net interest margin and net income, reflecting strong fundamentals and a stable deposit base.

• A $200 million equity investment was closed post-quarter by a large financial services company, enhancing the balance sheet.

• A new $10 million stock repurchase program was authorized, following the expiration of the previous plan.

Financial highlights

• Net income for Q3 2025 rose to $18.1 million ($147.32/diluted share) from $14.3 million ($115.17/diluted share) in Q3 2024.

• Net interest income before provision for credit losses increased to $69.3 million in Q3 2025 from $60.4 million in Q3 2024.

• Net interest margin improved to 2.47% in Q3 2025 from 2.02% in Q3 2024.

• Total assets were $11.62 billion as of September 30, 2025, compared to $11.69 billion at December 31, 2024.

• Total deposits grew to $8.87 billion at September 30, 2025, up from $8.77 billion at year-end 2024.

Outlook and guidance

• Management remains optimistic about long-term growth opportunities, citing a strong balance sheet and prudent growth strategy.

• The operating environment for regional banks is stabilizing as inflation eases and rate cut expectations become clearer.