LONG BEACH, Calif.–(BUSINESS WIRE)– \n\u201cF&M Bank concluded 2025 with a strong fourth quarter, reflecting positive momentum throughout the year, outstanding execution on our initiatives, and hard work by our dedicated team,\u201d said W. Henry Walker, Chief Executive Officer. \u201cWe ended the year with a stronger and more flexible balance sheet, which positioned the Bank for growth and continued the momentum for improving profitability. Our management team is strong, seasoned and engaged in our strategic process.<\/p>\n \n\u201cCapping off the year was the closing of a $200 million equity investment in the Bank in the fourth quarter by a large financial services company that plans to offer its customers a multitude of F&M credit products. The processes are being put into place to sell our products to a new, large and captive customer base, expected to start in late 2026. This represents an outstanding opportunity for F&M that is expected to diversify and add a significant number of quality loans to our portfolio and position us for accelerated, profitable growth.\u201d<\/p>\n \nDaniel Walker, F&M\u2019s Executive Chairman, added, \u201cThe strong foundation and culture built over the past 119 years continue to serve our clients and stockholders well as we enter 2026. F&M\u2019s legacy of financial strength, values and prudent fiscal management, among many other attributes, positions us well in the marketplace for sustained long-term growth and for meeting our collective objective of delivering enhanced stockholder value.\u201d<\/p>\n \nOperating Results<\/p>\n \nFor the fourth quarter of 2025, total interest and dividend income increased to $112.8 million, from $108.9 million in the fourth quarter of 2024. Total interest and dividend income for the year ended December 31, 2025, amounted to $431.7 million, compared with $439.8 million reported for the year ended December 31, 2024.<\/p>\n \nTotal interest expense for the 2025 fourth quarter was $38.5 million, versus $46.5 million in the 2024 fourth quarter. Interest expense for the year ended December 31, 2025, was $157.1 million, compared with $202.6 million in 2024.<\/p>\n \nNet interest income before provision for credit losses for the fourth quarter of 2025 increased to $74.4 million, from $62.3 million for the fourth quarter of 2024. Net interest income before provision for credit losses for the year ended December 31, 2025, rose to $274.6 million, from $237.2 million for the prior year.<\/p>\n \nF&M\u2019s net interest margin improved to 2.58% for the fourth quarter of 2025, from 2.14% for the fourth quarter of 2024. Net interest margin was 2.44% for the year ended December 31, 2025, compared with 2.00% in 2024.<\/p>\n \nFor the fourth quarter of 2025, the Bank recorded a $500,000 recapture of provision for credit losses, compared with a $600,000 provision for credit losses recorded in the 2024 fourth quarter. For the year ended December 31, 2025, the Bank recorded a $1.1 million recapture of provision for credit losses, compared with a $6.6 million recapture of provision for credit losses for the year ended December 31, 2024.<\/p>\n \nTotal non-interest income was $4.2 million for the fourth quarter of 2025, compared with a negative $3.8 million for the same period last year, primarily due to a repositioning of the Bank\u2019s investment securities by selling low-yielding fixed-rate securities and deploying the proceeds into higher-earning securities, resulting in a one-time impact on earnings. For the year ended December 31, 2025, total non-interest income was $17.5 million, compared with $19.6 million for year ended December 31, 2024.<\/p>\n \nTotal non-interest expense for the 2025 fourth quarter was $51.9 million, compared with $51.5 million for the 2024 fourth quarter. Non-interest expense for the year ended December 31, 2025, was $200.7 million, compared with $200.0 million a year ago.<\/p>\n \nFourth quarter 2025 net income increased to $19.5 million, or $141.90 per diluted share, from $4.0 million, or $32.18 per diluted share, for the fourth quarter of 2024. The Bank\u2019s full year 2025 net income advanced to $68.3 million, or $537.62 per diluted share, from $44.9 million, or $358.63 per diluted share, last year.<\/p>\n \nBalance Sheet<\/p>\n \nGross loans were $6.08 billion as of December 31, 2025, compared with $6.47 billion as of December 31, 2024. The Bank\u2019s allowance for loan losses totaled $84.0 million, or 1.39% of loans held-for-investment at December 31, 2025, compared with $96.6 million, or 1.50% of loans held-for-investment at December 31, 2024.<\/p>\n \nF&M\u2019s total deposits at December 31, 2025 amounted to $8.95 billion, compared with $8.77 billion at December 31, 2024. Noninterest-bearing deposits represented 34.6% of total deposits at the end of 2025, and 33.2% at December 31, 2024.<\/p>\n \nSecurities sold under repurchase agreements decreased to $883.2 million at December 31, 2025, from $991.9 million at December 31, 2024. Borrowings were $300.0 million at December 31, 2025, a decrease of $200.0 million from $500.0 million at December 31, 2024.<\/p>\n \nTotal assets at December 31, 2025, were $11.80 billion, compared with $11.69 billion at December 31, 2024. Total stockholders\u2019 equity was $1.61 billion at the close of 2025, up from $1.37 billion a year ago.<\/p>\n \nCapital<\/p>\n \nCapital ratios are the foundation of safety in all banks, and F&M continues to exceed most national and regional banks in this area, as well as exceeding regulatory capital requirements to meet the definition of a \u201cwell-capitalized\u201d financial institution. As of December 31, 2025, the Bank\u2019s total risk-based capital ratio was 22.65%; tier 1 risk-based capital ratio was 21.40%; common equity tier 1 capital ratio was 18.84%; and tier 1 leverage ratio was 13.49%. The minimum capital adequacy ratios for a \u201cwell-capitalized\u201d bank are 10.00%, 8.00%, 6.50% and 5.00%, respectively.<\/p>\n \nStock Repurchase Program<\/p>\n \nDuring the fourth quarter of 2025, the Bank repurchased 324 shares of its common stock for $2.6 million on the open market at an average repurchase price of $8,147.17 per share, under the current $10 million stock repurchase plan that was announced in October 2025 and expires May 9, 2026. Previously during the year, the Bank repurchased 704 shares of its common stock for $4.0 million on the open market at an average repurchase price of $5,661.92 per share, under its previous $10 million stock repurchase plan, which has expired. During the twelve months ended December 31, 2025, the Bank repurchased 1,028 shares on the open market at an average repurchase price of $6,445.21.<\/p>\n \nUnder the stock repurchase program, the Bank may purchase shares of its common stock through various means, including open market transactions and privately negotiated transactions, in each case, subject to applicable requirements and laws. To the extent the Bank repurchases shares, the number of shares repurchased and the timing of any repurchases will depend on a number of factors, including, but not limited to, stock price, trading volume, regulatory requirements, general business conditions and other factors. The Bank may choose to modify, suspend or discontinue such proposed repurchases at any time and anticipates that any such repurchases will be funded from existing cash and cash equivalents or future cash flow. The new stock repurchase program does not obligate the Bank to repurchase any specific number of shares in any particular period.<\/p>\n \nAbout Farmers & Merchants Bank of Long Beach<\/p>\n \nFounded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank provides white-glove service to clients at 27 branches from San Clemente to Santa Barbara, as well as through its Online and Mobile Banking platforms. The Bank offers commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please visit the website, www.fmb.com<\/a>.<\/p>\n \nForward-Looking Statements<\/p>\n \nIn addition to the historical information contained herein, this press release may contain forward-looking statements about Farmers & Merchants Bank of Long Beach, including, but not limited to, the ability to diversify and add a significant number of quality loans to the Bank\u2019s portfolio, and positioning for accelerated, profitable growth. Readers should understand that such forward-looking statements are neither promises nor guarantees and are subject to various risks and uncertainties, many of which are beyond the Bank\u2019s control. Such risks and uncertainties could cause actual results and actions to differ materially from those contemplated. Factors that could cause or contribute to such differences include, but are not limited to, credit, market, operational, liquidity and interest rate risks associated with the Bank\u2019s business and operations, changes in interest rates, changes in general business and economic conditions, changes in banking laws and regulations, loan losses, increases in expenses, changes in rates charged on loans and earned on investments, accounting estimates and judgments, changes in rates on deposits, competition effects, the amount of non-interest income earned, adverse consequences caused by the coronavirus pandemic, as well as other factors. Given these factors, readers should not place undue reliance on any forward-looking statement.<\/p>\n \u00a0<\/p>\n \nFARMERS & MERCHANTS BANK OF LONG BEACH<\/p>\n \nIncome Statements (Unaudited)<\/p>\n \n(In thousands, except share and per share data)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended \nTwelve Months Ended \n\u00a0<\/p>\n \n2025<\/p>\n \n2024<\/p>\n \n2025<\/p>\n \n2024<\/p>\n Interest and dividend income:<\/p>\n Loans<\/p>\n \n$<\/p>\n \n76,269<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n75,021<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n304,087<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n300,274<\/p>\n \n\u00a0<\/p>\n Investment securities<\/p>\n \n\u00a0<\/p>\n \n19,303<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n19,034<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n71,575<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n79,653<\/p>\n \n\u00a0<\/p>\n Interest-bearing deposits in financial institutions<\/p>\n \n\u00a0<\/p>\n \n16,820<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n14,341<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n54,263<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n57,914<\/p>\n \n\u00a0<\/p>\n Investments in FHLB and FRB stock<\/p>\n \n\u00a0<\/p>\n \n456<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n459<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,816<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,914<\/p>\n \n\u00a0<\/p>\n Total interest and dividend income<\/p>\n \n\u00a0<\/p>\n \n112,848<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n108,855<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n431,741<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n439,755<\/p>\n \n\u00a0<\/p>\n Interest expense:<\/p>\n Deposits<\/p>\n \n\u00a0<\/p>\n \n27,918<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n30,439<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n110,893<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n119,006<\/p>\n \n\u00a0<\/p>\n Securities sold under repurchase agreements<\/p>\n \n\u00a0<\/p>\n \n7,580<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8,735<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n32,450<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n37,611<\/p>\n \n\u00a0<\/p>\n Borrowings<\/p>\n \n\u00a0<\/p>\n \n2,983<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7,375<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n13,765<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n45,942<\/p>\n \n\u00a0<\/p>\n Total interest expense<\/p>\n \n\u00a0<\/p>\n \n38,481<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n46,549<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n157,108<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n202,559<\/p>\n \n\u00a0<\/p>\n Net interest income before provision for credit losses<\/p>\n \n\u00a0<\/p>\n \n74,367<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n62,306<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n274,633<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n237,196<\/p>\n \n\u00a0<\/p>\n Provision for credit losses<\/p>\n Loans<\/p>\n \n\u00a0<\/p>\n \n(3,000<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n600<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(4,500<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n(2,500<\/p>\n \n)<\/p>\n Investment securities<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n Reserve for unfunded loan commitments<\/p>\n \n\u00a0<\/p>\n \n2,500<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3,400<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(4,100<\/p>\n \n)<\/p>\n Total provision for credit losses<\/p>\n \n\u00a0<\/p>\n \n(500<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n600<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(1,100<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n(6,600<\/p>\n \n)<\/p>\n Net interest income after provision for credit losses<\/p>\n \n\u00a0<\/p>\n \n74,867<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n61,706<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n275,733<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n243,796<\/p>\n \n\u00a0<\/p>\n Non-interest income:<\/p>\n Service charges on deposit accounts<\/p>\n \n\u00a0<\/p>\n \n1,995<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,971<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8,056<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7,541<\/p>\n \n\u00a0<\/p>\n Other real estate owned income<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,318<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,318<\/p>\n \n\u00a0<\/p>\n Loss on sale of securities<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(10,141<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(10,141<\/p>\n \n)<\/p>\n Card income<\/p>\n \n\u00a0<\/p>\n \n270<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n187<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,005<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n852<\/p>\n \n\u00a0<\/p>\n Other income<\/p>\n \n\u00a0<\/p>\n \n1,963<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,886<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8,391<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n20,000<\/p>\n \n\u00a0<\/p>\n Total non-interest income<\/p>\n \n\u00a0<\/p>\n \n4,228<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(3,779<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n17,452<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n19,570<\/p>\n \n\u00a0<\/p>\n Non-interest expense:<\/p>\n Salaries and employee benefits<\/p>\n \n\u00a0<\/p>\n \n33,759<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n31,878<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n128,514<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n123,306<\/p>\n \n\u00a0<\/p>\n FDIC and other insurance expense<\/p>\n \n\u00a0<\/p>\n \n1,917<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,093<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8,002<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10,110<\/p>\n \n\u00a0<\/p>\n Occupancy expense<\/p>\n \n\u00a0<\/p>\n \n4,420<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3,979<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n16,400<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n15,835<\/p>\n \n\u00a0<\/p>\n Software and equipment expense<\/p>\n \n\u00a0<\/p>\n \n5,026<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n4,475<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n18,370<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n17,662<\/p>\n \n\u00a0<\/p>\n Other real estate owned expense<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n38<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n13<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n370<\/p>\n \n\u00a0<\/p>\n Professional and legal services<\/p>\n \n\u00a0<\/p>\n \n2,030<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,800<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n9,896<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10,595<\/p>\n \n\u00a0<\/p>\n Marketing expense<\/p>\n \n\u00a0<\/p>\n \n1,132<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,871<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n5,451<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n4,728<\/p>\n \n\u00a0<\/p>\n Other expense<\/p>\n \n\u00a0<\/p>\n \n3,597<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n5,411<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n14,026<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n17,364<\/p>\n \n\u00a0<\/p>\n Total non-interest expense<\/p>\n \n\u00a0<\/p>\n \n51,881<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n51,545<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n200,672<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n199,970<\/p>\n \n\u00a0<\/p>\n Income before income tax expense<\/p>\n \n\u00a0<\/p>\n \n27,214<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6,382<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n92,513<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n63,396<\/p>\n \n\u00a0<\/p>\n Income tax expense<\/p>\n \n\u00a0<\/p>\n \n7,688<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,386<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n24,164<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n18,518<\/p>\n \n\u00a0<\/p>\n Net income<\/p>\n \n$<\/p>\n \n19,526<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n3,996<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n68,349<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n44,878<\/p>\n \n\u00a0<\/p>\n Basic earnings per common share<\/p>\n \n$<\/p>\n \n143.21<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n32.46<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n542.46<\/p>\n \n$<\/p>\n \n365.52<\/p>\n \n\u00a0<\/p>\n Diluted earnings per common share<\/p>\n \n$<\/p>\n \n141.90<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n32.18<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n537.62<\/p>\n \n$<\/p>\n \n358.63<\/p>\n \n\u00a0<\/p>\n Basic weighted-average shares outstanding<\/p>\n \n\u00a0<\/p>\n \n122,064<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n123,121<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n122,116<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n122,778<\/p>\n \n\u00a0<\/p>\n Diluted weighted-average shares outstanding<\/p>\n \n\u00a0<\/p>\n \n123,196<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n124,178<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n123,215<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n125,138<\/p>\n \n\u00a0<\/p>\n FARMERS & MERCHANTS BANK OF LONG BEACH<\/p>\n Balance Sheets (Unaudited)<\/p>\n (In thousands, except share and per share data)<\/p>\n \u00a0<\/p>\n Dec. 31, 2025<\/p>\n Dec. 31, 2024<\/p>\n \u00a0<\/p>\n Assets<\/p>\n Cash and due from banks:<\/p>\n Non-interest-bearing balances<\/p>\n \n$<\/p>\n \n65,062<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n72,319<\/p>\n \n\u00a0<\/p>\n Interest-bearing balances<\/p>\n \n\u00a0<\/p>\n \n1,344,503<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n976,039<\/p>\n \n\u00a0<\/p>\n Total cash and due from banks<\/p>\n \n\u00a0<\/p>\n \n1,409,565<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,048,358<\/p>\n \n\u00a0<\/p>\n Securities available-for-sale, at fair value<\/p>\n \n\u00a0<\/p>\n \n839,350<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n281,219<\/p>\n \n\u00a0<\/p>\n Securities held-to-maturity, at amortized cost net of allowance for credit losses<\/p>\n \n\u00a0<\/p>\n \n3,266,193<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3,687,417<\/p>\n \n\u00a0<\/p>\n Loans held for sale<\/p>\n \n\u00a0<\/p>\n \n1,447<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,132<\/p>\n \n\u00a0<\/p>\n Gross loans<\/p>\n \n\u00a0<\/p>\n \n6,076,581<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6,467,991<\/p>\n \n\u00a0<\/p>\n Unamortized deferred loan fees, net<\/p>\n \n\u00a0<\/p>\n \n(10,479<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n(8,811<\/p>\n \n)<\/p>\n Allowance for credit losses on loans<\/p>\n \n\u00a0<\/p>\n \n(84,020<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n(96,585<\/p>\n \n)<\/p>\n Loans, net<\/p>\n \n\u00a0<\/p>\n \n5,982,082<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6,362,595<\/p>\n \n\u00a0<\/p>\n Investments in FHLB and FRB stock, at cost<\/p>\n \n\u00a0<\/p>\n \n22,262<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n22,472<\/p>\n \n\u00a0<\/p>\n Bank premises and equipment, net<\/p>\n \n\u00a0<\/p>\n \n121,894<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n118,474<\/p>\n \n\u00a0<\/p>\n Deferred tax assets, net<\/p>\n \n\u00a0<\/p>\n \n39,839<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n42,427<\/p>\n \n\u00a0<\/p>\n Other assets<\/p>\n \n\u00a0<\/p>\n \n114,428<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n125,975<\/p>\n \n\u00a0<\/p>\n Total assets<\/p>\n \n$<\/p>\n \n11,797,060<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n11,690,069<\/p>\n \n\u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Liabilities and Stockholders’ Equity<\/p>\n \u00a0<\/p>\n Liabilities:<\/p>\n Deposits:<\/p>\n Non-interest-bearing deposits<\/p>\n \n$<\/p>\n \n3,095,295<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n2,908,598<\/p>\n \n\u00a0<\/p>\n Interest-bearing deposits<\/p>\n \n\u00a0<\/p>\n \n1,751,037<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,047,524<\/p>\n \n\u00a0<\/p>\n Savings and money market savings<\/p>\n \n\u00a0<\/p>\n \n3,084,461<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,784,678<\/p>\n \n\u00a0<\/p>\n Time deposits<\/p>\n \n\u00a0<\/p>\n \n1,020,001<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,028,793<\/p>\n \n\u00a0<\/p>\n Total deposits<\/p>\n \n\u00a0<\/p>\n \n8,950,794<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8,769,593<\/p>\n \n\u00a0<\/p>\n Securities sold under repurchase agreements<\/p>\n \n\u00a0<\/p>\n \n883,234<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n991,869<\/p>\n \n\u00a0<\/p>\n Borrowings<\/p>\n \n\u00a0<\/p>\n \n300,000<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n500,000<\/p>\n \n\u00a0<\/p>\n Other liabilities<\/p>\n \n\u00a0<\/p>\n \n56,745<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n59,724<\/p>\n \n\u00a0<\/p>\n Total liabilities<\/p>\n \n\u00a0<\/p>\n \n10,190,773<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10,321,186<\/p>\n \n\u00a0<\/p>\n \u00a0<\/p>\n Stockholders’ Equity:<\/p>\n Preferred Stock; issued 16,261 shares<\/p>\n \n\u00a0<\/p>\n \n190,884<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n Common Stock, par value $20; authorized 250,000 shares; 121,802 and 122,728 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively<\/p>\n \n\u00a0<\/p>\n \n2,436<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,455<\/p>\n \n\u00a0<\/p>\n Additional paid-in capital<\/p>\n \n\u00a0<\/p>\n \n162,243<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n169,136<\/p>\n \n\u00a0<\/p>\n Retained earnings<\/p>\n \n\u00a0<\/p>\n \n1,251,367<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,199,221<\/p>\n \n\u00a0<\/p>\n Accumulated other comprehensive loss<\/p>\n \n\u00a0<\/p>\n \n(643<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n(1,929<\/p>\n \n)<\/p>\n Total stockholders’ equity<\/p>\n \n\u00a0<\/p>\n \n1,606,287<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,368,883<\/p>\n \n\u00a0<\/p>\n Total liabilities and stockholders’ equity<\/p>\n \n$<\/p>\n \n11,797,060<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n11,690,069<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20260126292646\/en\/<\/a><\/p>\n
\nFarmers & Merchants Bank of Long Beach (\u201cF&M\u201d or the \u201cBank\u201d) (OTCQX: FMBL<\/a>) today reported financial results for the fourth quarter and full year ended December 31, 2025.<\/p>\n
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December 31,<\/p>\n
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December 31,<\/p>\n<\/p>\n