-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ts9wTR49j8XbJlNHTFvNxkb7MDPnxEhz93nKIAN41anu1TGPdeuTo8oKadk8hpUB NcKtjYb6tAhrUCn4Syv+Og== 0001140361-07-003087.txt : 20070213 0001140361-07-003087.hdr.sgml : 20070213 20070212171648 ACCESSION NUMBER: 0001140361-07-003087 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070209 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070212 DATE AS OF CHANGE: 20070212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FARMERS & MERCHANTS BANCORP CENTRAL INDEX KEY: 0001085913 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 943327828 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26099 FILM NUMBER: 07604332 BUSINESS ADDRESS: STREET 1: 121 WEST PINE ST CITY: LODI STATE: CA ZIP: 95240-2184 BUSINESS PHONE: 2093672411 MAIL ADDRESS: STREET 1: FARMERS AND MERCHANTS BANCORP STREET 2: 121 WEST PINE ST CITY: LODI STATE: CA ZIP: 95240-2184 8-K 1 form8k.htm FARMERS & MERCHANTS 8-K 2-9-2007 Farmers & Merchants 8-K 2-9-2007
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

February 9, 2007
(Date of earliest event reported)

Farmers & Merchants Bancorp
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)


000 - 26099
94-3327828
(Commission File Number)
(IRS Employer Identification No.)


111 West Pine Street, Lodi, California 95240
(Address of principal executive offices)  (Zip Code)


(209) 367-2300
(Registrant’s telephone number, including area code)


Not Applicable
(Former name or former address, if changes since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(C))
 

Item 2.02 Results of Operations and Financial Condition
 
On February 9, 2007, Farmers & Merchants Bancorp issued a press release concerning financial results for the year-end and fourth quarter of 2006, a copy of which is included as Exhibit 99 and incorporated herein by reference.
 

Item 9.01 Financial Statements and Exhibits

(c)
Exhibits:

99 Press release concerning financial results for the year-end and fourth quarter of 2006.

 
 
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
FARMERS & MERCHANTS BANCORP
       
       
 
By
  
/s/ Stephen W. Haley
 
      
       
     
Stephen W. Haley
     
Executive Vice President & Chief Financial Officer


Date: February 9, 2007
 

 EX-99 2 ex99.htm EXHIBIT 99 Exhibit 99
Exhibit 99

FARMERS & MERCHANTS BANCORP
REPORTS RECORD YEAR-END AND FOURTH QUARTER
2006 EARNINGS
 
Kent A. Steinwert, President and Chief Executive Officer of Farmers & Merchants Bancorp, announced that the Company earned record net income for the year-ending December 31, 2006 of $20.6 million or $25.25 per share, up 13.5% over the prior year. Return on average assets was 1.51%, and return on average equity was 16.16%, an improvement of 90 basis points over the prior year.

The Company also reported record net income of $5.3 million for the quarter ending December 31, 2006, up 12.9% over the comparable quarter of 2005. Earnings per share for the fourth quarter were $6.48, up 14.6% from the fourth quarter of the prior year. Return on average assets for the quarter was 1.52%, and return on average equity was 15.95%.

These results represent the 36th consecutive quarter and 9th consecutive year that Farmers & Merchants Bancorp’s net income increased over the same period the prior year.

Steinwert stated, “The Board of Directors and senior management are extremely pleased with the fourth quarter and full year 2006 results, particularly given the difficult interest rate environment that existed for all banks. The recent slowdown in industry-wide deposit growth has been a major contributor to an increase in overall liability costs, placing pressure on most banks’ net interest margins. F&M’s success in growing per share earnings over 13% in 2006 was a result of our ability to achieve asset growth objectives while maintaining reasonable liability pricing. This strategy successfully resulted in deposit growth of over 8.6% in 2006. As we begin 2007, we will continue to adjust our strategies as necessary to fund our growth goals in the most profitable and sustainable manner.”

Throughout 2006, the Company’s asset quality and capital levels have remained high. Non-performing assets represented only 0.01% of loans outstanding as of December 31, 2006. Additionally, as of December 31, 2006, the Company’s allowance for loan losses was $18.1 million or 1.72% of total loans. At December 31, 2006, the Company’s Total Risk Based Capital Ratio was 12.17%, and the Tier 1 Capital Ratio was 10.40%. Based on these performance measures, Farmers & Merchants Bancorp continues to compare favorably to peer banks.

Exhibit 99

During the 4th quarter of 2006, the Bank opened its flagship commercial branch in Stockton. Steinwert stated, “Our new full-service facility located on March Lane will allow us to serve the growing Stockton community. We are very pleased to have Joe Crane as our Stockton Area Manager and are excited about Joe’s commitment to provide top quality service to the businesses and households in Stockton.”

Also during the fourth quarter of 2006, the Company opened its seventh Lodi location at the new Vintners Shopping Center. This state of the art, full-service branch is strategically located in the path of Lodi’s anticipated future growth. Staffed with seasoned banking professionals, and under the leadership of Manager Wayne Folmer, the branch is already exceeding management’s expectations.

Farmers & Merchants Bancorp is the parent of Farmers & Merchants Bank of Central California which also operates as F&M Bank. Founded in 1916, the institution is a full service community bank and proudly serves California's Great Central Valley through 21 branch offices conveniently located from Sacramento to Turlock.

 
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 production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes and financial policies of the United States government 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.
 
 
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