Farmers & Merchants Bank of Central California selected as the 24th Inductee to the National Agriculture Science Center’s Ag Hall of Fame
LODI, Calif., Nov. 08, 2021 (GLOBE NEWSWIRE) — Farmers & Merchants Bancorp (OTCQX: FMCB). Farmers & Merchants Bank of Central California (F&M Bank) announced today that it has been inducted into the National Ag Science Center (NASC) Stanislaus County Ag Hall of Fame. This is the twenty-fourth year the award has been given and F&M Bank is the first financial institution to receive this distinguished honor. Serving the Valley communities for over 100 years, F&M Bank remains a locally owned and operated community based company.
“F&M Bank is a local institution providing resources, financial advice, guidance, and support to the Ag community as well as students in the next generation Ag workforce,” commented NASC Executive Director, Dr. Emily Lawrence. The Bank has been instrumental in establishing and supporting agricultural development programs, including FFA and 4H. The annual award ceremony is a time where the community comes together to recognize the accomplishments of individuals, families and companies who have contributed to Stanislaus County’s role as one of the nation’s leading agricultural counties.
F&M Bank is the 14th largest lender to agriculture in the US and the largest community bank Ag lender in California. Approximately 45% of the Bank’s loan portfolio is dedicated to agriculture. F&M Bank has provided agriculture-related donations and volunteer support to numerous community based organizations. Additionally, the Bank has provided over 1,000 interest-free loans to local 4H and FFA students for their various county fair projects. During the past ten years, F&M Bank has donated more than $250,000 to purchase livestock from FFA and 4H students at the local fairs.
Founded in 1916, F&M Bank has grown to 32 locations across the Great Central Valley and San Francisco East Bay Area. The Modesto, Turlock and Riverbank branches deliver financial services to all aspects of agribusiness throughout Stanislaus County. Kent Steinwert, F&M Bank’s President & Chief Executive Officer, noted, “The Bank remains committed to servicing the needs of agribusiness in California as has been the case since its founding 105 years ago. We recognize that farmers, ranchers and processors are exceptional stewards of our natural resources and play a vital role in California’s economy. We are dedicated to helping California remain the premier agricultural region in the world and look forward to working with the next generation of farmers and ranchers. We are humbled by this honor and are proud to have been trusted for generations by many California farm families.”
NASC Board President Brandi LoForti commented, “F&M Bank has an impressive reputation across the Valley for supporting Ag students, encouraging new farmers and agriculturalists, and maintaining loyalty to multigenerational farm families. We are honored to have them join our Ag Hall of Fame family.”
This year’s Gala Induction Ceremony was held on November 5, 2021.
About Farmers & Merchants Bancorp
Farmers & Merchants Bancorp, traded on the OTCQX under the symbol FMCB, is the parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank. Founded in 1916, F&M Bank is a locally owned and operated community bank, which proudly serves California through 32 convenient locations. F&M Bank is the 14th largest bank lender to agriculture in the United States, and the largest community bank lender to agriculture west of the Rocky Mountains. In 2013, the Bank began an expansion into the San Francisco Bay Area with new full-service branches in Walnut Creek, Concord and Napa. A new full-service branch in Oakland, California, located in Montclair Village, is scheduled to be opened in the fourth quarter of 2021. The Bank offers a full complement of loan, deposit, equipment leasing and treasury management products to businesses, as well as a full suite of consumer banking products. The FDIC awarded F&M Bank the highest possible rating of “Outstanding” in their 2019 CRA evaluation. Farmers & Merchants Bancorp has paid dividends for 86 consecutive years and we have increased dividends for 58 consecutive years. As a result, we are a member of a select group of only 34 publicly traded companies referred to as “Dividend Kings.” Additionally, the Bank has maintained a 5-Star rating from BauerFinancial for 30 consecutive years, longer than any other commercial bank in the state of California. For more information about Farmers & Merchants Bancorp and F&M Bank, visit fmbonline.com.
Forward-Looking Statements
Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan and deposit production, balance sheet management, levels of net interest margin, the ability to control costs and expenses, interest rate changes, the competitive environment, financial and regulatory policies of the United States government, the COVID-19 pandemic, water management issues in California and general economic conditions. Additional information on these and other factors that could affect financial results are included in our Securities and Exchange Commission filings. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments.
Contact
Farmers & Merchants Bancorp
Stephen W. Haley, 209-367-2411
Executive Vice President and Chief Financial Officer
shaley@fmbonline.com
