Central California

Farmers & Merchants Bancorp (FMCB) Increases Cash Dividend for the 59th Consecutive Year

Retrieved on: 
среда, мая 15, 2024
FleetBoston Financial, OTCQX, Farmer, Share repurchase, Delinquent, Central California, Holding company

The cash dividend is payable on July 1, 2024, to shareholders of record on June 11, 2024.

Key Points: 
  • The cash dividend is payable on July 1, 2024, to shareholders of record on June 11, 2024.
  • For the quarter ended March 31, 2024, Farmers & Merchants Bancorp reported net income of $22.7 million, or $30.56 per diluted common share, compared with $23.5 million earned in the first quarter of 2023.
  • This year marks the 89th consecutive year that Farmers & Merchants Bancorp has paid cash dividends and the 59th consecutive year we have increased dividends.
  • As a result of the reliability of our cash dividends over many decades, we remain a member of a select group of only 56 publicly traded companies designated as “Dividend Kings” by Sure Dividend where Farmers & Merchants Bancorp is currently ranked 17th.”

Farmers & Merchants Bank of Central California (FMCB) ranked #4 Best-Performing Community Bank in the United States for 2023

Retrieved on: 
понедельник, мая 6, 2024
F&M Bank, FleetBoston Financial, S&P Global, Central California, OTCQX, Bank, Growth, Farmer

S&P Global Market Intelligence ranks financial institutions based on several key factors including financial returns, growth, and balance sheet risk profile.

Key Points: 
  • S&P Global Market Intelligence ranks financial institutions based on several key factors including financial returns, growth, and balance sheet risk profile.
  • We are extremely honored and grateful to S&P Global Market Intelligence for highlighting our outstanding 2023 financial performance”, said Steinwert.
  • Farmers & Merchants Bank of Central California remains very liquid, well-capitalized, and in excellent overall financial condition.
  • For over 108 years, F&M Bank has remained safe and secure and has been trusted for generations in the communities it serves.

Farmers & Merchants Bancorp (FMCB) Reports Strong First Quarter 2024 Earnings

Retrieved on: 
среда, апреля 17, 2024
Sale, Central California, Investment, OTCQX, FleetBoston Financial, Farmer, Environment, Share repurchase, Merchant, S&P Global

LODI, Calif., April 17, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported net income of $22.7 million, or $30.56 per diluted common share for the first quarter of 2024 compared with $23.5 million, or $30.80 per diluted common share, for the first quarter of 2023. The first quarter of 2023 benefited from cash proceeds from a non-taxable death benefit on bank-owned life insurance (BOLI) of $4.3 million which was partially offset by a $5.7 million loss on the sale of securities based on the decision to reposition the securities portfolio given the interest rate environment. Excluding these first quarter 2023 items, net income for the first quarter of 2024 of $22.7 million was higher than the first quarter of 2023 of $22.5 million while earnings per share of $30.56 in the first quarter of 2024 was higher than the $29.44 in the first quarter of 2023. Annualized return on average assets was 1.71% and return on average equity was 16.33% for the first quarter of 2024 compared with 1.80% and 18.93% for the first quarter of 2023. The expense efficiency ratio for first quarter was 44.94% down from 47.62% for the first quarter of 2023.

Key Points: 
  • Excluding these first quarter 2023 items, net income for the first quarter of 2024 of $22.7 million was higher than the first quarter of 2023 of $22.5 million while earnings per share of $30.56 in the first quarter of 2024 was higher than the $29.44 in the first quarter of 2023.
  • The expense efficiency ratio for first quarter was 44.94% down from 47.62% for the first quarter of 2023.
  • After record-setting annual earnings for the past six consecutive years, we begin 2024 with another strong quarter of earnings and performance.
  • Net recoveries were $53,000 in the first quarter of 2024 compared to net recoveries of $56,000 in the fourth quarter of 2023.

Farmers & Merchants Bancorp (FMCB) Reports Record Year-End 2023 Financial Results

Retrieved on: 
среда, января 24, 2024
Classification, Total, Bank, Insurance, Share repurchase, Central California, Merchant, Growth, FleetBoston Financial, Environment, Sale, Investment, OTCQX, Farmer

LODI, Calif., Jan. 24, 2024 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported full-year 2023 net income of $88.3 million, or $116.61 per diluted common share, up 17.61%, compared to full-year 2022 net income of $75.1 million, or $96.55 per diluted common share, compared to full-year 2022. For the year ended December 31, 2023, return on average assets was 1.68% and return on average equity was 17.05% an increase from 1.41% and 16.04% for the same respective measures a year earlier.

Key Points: 
  • Total investments increased slightly from $998.2 million as of December 31, 2022 to $1.0 billion as of December 31, 2023.
  • There were no non-performing loans or leases at December 31, 2023, compared with $0.6 million at December 31, 2022.
  • At December 31, 2023, the tangible common equity ratio was 10.13% an increase of 126 basis points from 8.87% at December 31, 2022.
  • Tangible book value per share increased to $717.05 per share at December 31, 2023, up 16.89% compared with $613.42 a year ago.

Farmers & Merchants Bancorp (FMCB) Authorizes a $25 Million Increase in Its Share Repurchase Program

Retrieved on: 
понедельник, ноября 20, 2023
OTCQX, Classification, Share repurchase, Central California, FleetBoston Financial, Farmer

The Company’s repurchase program was first established in 2008 and was last extended in November 2022.

Key Points: 
  • The Company’s repurchase program was first established in 2008 and was last extended in November 2022.
  • Since November 2022, the Company has repurchased and retired 17,126 shares, representing approximately 2.23% of total shares outstanding as of November 30, 2022.
  • Since January 2021 the Company had a reduction of 38,551 shares or 4.88% of shares outstanding through October 31, 2023 due to share repurchases.
  • Repurchases are made at market prices through open market purchases, trading plans established in accordance with SEC rules and privately negotiated transactions.

California Truck Centers Certified as Authorized Dealer for RIZON Battery-Electric Trucks

Retrieved on: 
четверг, ноября 16, 2023
Velocity, ZEV, Daimler Truck, HVIP, Safety, Class, CARB, AC, OEM, Certification, California Air Resources Board, Automotive industry, Rail transport, Central California

Fresno, California, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Velocity EV , the exclusive U.S. distributor of RIZON battery-electric trucks , has added California Truck Centers , one of the state’s largest and family-owned commercial truck dealerships, to its authorized dealer network.

Key Points: 
  • Fresno, California, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Velocity EV , the exclusive U.S. distributor of RIZON battery-electric trucks , has added California Truck Centers , one of the state’s largest and family-owned commercial truck dealerships, to its authorized dealer network.
  • California Truck Centers is now certified to sell and service the Class 4-5 zero-emissions cabover trucks – engineered by Daimler Truck – at six of its eight California locations in Fresno, Oakland, Sacramento, Santa Maria, San Luis Obispo, and Keyes.
  • “With their extensive customer service reputation in the commercial truck industry, California Truck Centers’ sales and service teams are well-skilled in helping customers navigate the transition to battery-electric trucks.
  • With more than 800 employees who specialize in OEM truck parts, body shop service and repair, in-house financing, and rentals and leasing, California Truck Centers earned Certified Elite Support status through Daimler Truck.

Farmers & Merchants Bancorp (FMCB) Announces Increase in the Year-End Cash Dividend

Retrieved on: 
среда, ноября 15, 2023
OTCQX, Classification, Merchant, Central California, FleetBoston Financial, Farmer

LODI, Calif., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), declared a year-end cash dividend of $8.80 per share, an increase of 6.02% over the cash dividends declared in May of 2023 and November of 2022.

Key Points: 
  • LODI, Calif., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), declared a year-end cash dividend of $8.80 per share, an increase of 6.02% over the cash dividends declared in May of 2023 and November of 2022.
  • The cash dividend will be payable on January 2, 2024 to shareholders of record as of December 6, 2023.
  • Total cash dividends declared in 2023 increased 5.88% to $17.10 per share compared with $16.15 declared in 2022.
  • This represents an increase of 12.8% and 21.5% over the same respective periods a year earlier.

Faraday Future Announces Entry into Middle East, Signs Strategic Cooperation Agreements with Master Investment Group and Siraj Holding LLC, and Unveils the FF 91 2.0 Futurist aiFalcon Limited Edition for the Middle East Market

Retrieved on: 
четверг, ноября 23, 2023
Automotive Manufacturing, EV, Electric Vehicles, Automotive, Technology, Manufacturing, Security, General Automotive, Vehicle Technology, Artificial Intelligence, Performance & Special Interest, Alternative Vehicles, Fuels, Carbon, Super Ape, Faraday Future, FF, Yas Marina Circuit, Multimedia, Formula, Lamborghini Urus, Architecture, SUV, Partnership, Co-creation, Certification, Amusement park, Renewable energy, Management, Central California

(Photo: Business Wire)

Key Points: 
  • (Photo: Business Wire)
    The Company plans to launch a limited-edition model, the FF 91 2.0 Futurist aiFalcon, tailored to the Middle East market, with delivery targeted in 2024.
  • The Middle East market presents an exciting opportunity for smart and autonomous vehicles and is well aligned with FF product technology and brand positioning.
  • Users can preorder an FF 91 2.0 Futurist Alliance vehicle via the FF Intelligent App or through our website.
  • Those residing in the Middle East can reserve an FF 91 2.0 Futurist aiFalcon vehicle via UAE website: https://www.ff.com/ar/en/reservation/

TriCo Bancshares Announces Quarterly Cash Dividend

Retrieved on: 
понедельник, ноября 20, 2023
Banking, Professional Services, Finance, ATM, Small business, Tri Counties Bank, Central California

The Board of Directors of TriCo Bancshares (NASDAQ: TCBK) (the “Company”), parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.30 (thirty cents) per share on its common stock, no par value on November 16, 2023.

Key Points: 
  • The Board of Directors of TriCo Bancshares (NASDAQ: TCBK) (the “Company”), parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.30 (thirty cents) per share on its common stock, no par value on November 16, 2023.
  • The dividend is payable on December 22, 2023 to holders of record on December 8, 2023.
  • This is the 124th consecutive quarterly cash dividend, and is reflective of the Company's strength, stability and commitment to shareholder value.
  • Brokerage services are provided by Tri Counties Advisors through affiliation with Raymond James Financial Services, Inc. Visit www.TriCountiesBank.com to learn more.

California American Water Reaches Partial Settlement Agreement in Its General Rate Case on Revenues for 2024 through 2026

Retrieved on: 
пятница, ноября 17, 2023
Professional Services, Public Policy, Government, State, Local, Utilities, Legal, Energy, American Water Works, CPUC, American Water, California Public Utilities Commission, Water, Public utilities commission, Real estate, Central California

Earlier today, California American Water filed with the California Public Utilities Commission its partial settlement agreement for its statewide General Rate Case to set revenue for 2024 to 2026.

Key Points: 
  • Earlier today, California American Water filed with the California Public Utilities Commission its partial settlement agreement for its statewide General Rate Case to set revenue for 2024 to 2026.
  • Under the terms of the settlement, California American Water is entitled to additional annualized water and wastewater revenue increases of $19.96 million in test year 2024, $15.51 million for escalation year 2025 and $15.44 million for attrition year 2026.
  • Regulated water utilities like California American Water are required by law to file a General Rate Case every three years with the CPUC to set revenues and rates.
  • While other parties are involved in this General Rate Case, the settlement announced today is with the California Public Advocates Office.