Farmers & Merchants Bancorp: The Book Value Increase Should Accelerate Again

Jan. 20, 2023 11:31 AM ETFarmers & Merchants Bancorp (FMCB)


  • Farmers & Merchants Bancorp had a strong history of increasing its book value per share.
  • That BVPS growth almost came to a standstill as the losses on the portfolio of securities available for sale absorbed the retained earnings.
  • I think the worst is over, and we can look forward to strong BVPS growth.
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De Lodi Arch werd gebouwd in 1907.

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More than half a year ago, I expected Farmers & Merchants Bancorp's (OTCQX:FMCB) book value increase to be slower than before as the California-focused bank had to deal with the rather

Data by YCharts

Income Statement

FMCB Investor Relations

Balance Sheet

FMCB Investor Relations

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This article was written by

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We zoom in on capital gains and dividend income in European small-caps
As I'm a long-term investor, I'll highlight some stockpicks which will have a 5-7 year investment horizon. As I strongly believe a portfolio should consist of a mixture of dividend-paying stocks and growth stocks, my articles will reflect my thoughts on this mixture.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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