OTC · Finance

Farmers & Merchants Bancshares, Inc. (FMFG)

Operating cash flow minus capital spending left $5.7M of free cash flow in fiscal 2025. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 11, 2026.

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Price

$18.80

-0.74% on the day · September 25, 2026

52-week range $15.75 to $21.00

Market cap

$61.3M

P/E

10.4

on FY2025 diluted EPS

What Farmers & Merchants Bancshares, Inc. does

Farmers & Merchants Bancshares, Inc. is registered with the SEC under industry code SIC 6036 (Savings Institutions, Not Federally Chartered). Its shares trade on OTC under the ticker FMFG.

Revenue and profit by year

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	n/a	n/a	$5.8M	$1.81	$5.7M
2024	n/a	n/a	$4.3M	$1.37	$968K
2023	n/a	n/a	$6.4M	$2.08	$5M
2022	n/a	n/a	$8.1M	$2.66	$6.7M
2021	n/a	n/a	$8.1M	$2.70	$11.4M
2020	n/a	n/a	$2.7M	$0.90	$4.1M

Full financial statements: income, balance sheet and cash flow

Next report expected around October 26, 2026.

Estimated from its filing rhythm: 52 weeks after its report of October 27, 2025. Not a date the company has announced. See the report calendar

Dividends

It paid out $1.3M in cash dividends, 23% of its net income.

Fiscal year	Per share	Paid out	Of profit
2025	n/a	$1.3M	23%
2024	$0.67	$1.4M	32%
2023	$0.66	$1.2M	19%
2022	$0.63	$1.2M	15%
2021	$0.57	$1.2M	14%
2020	$0.52	$1.1M	40%

Per share as declared (or paid, where only that is reported), adjusted for stock splits the company itself restated. Yield is the latest fiscal year's dividend over the current price.

Latest SEC filings

What Farmers & Merchants Bancshares, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.

September 23, 2026
Executive or director change 8-K
August 11, 2026
Quarterly report 10-Q · period to June 30, 2026Diluted EPS $0.58 versus $0.38.
July 23, 2026
Quarterly results 8-K
June 16, 2026
Material agreement 8-K
May 21, 2026
Code of ethics change 8-K
May 19, 2026
Other event 8-K
May 15, 2026
Quarterly report 10-Q · period to March 31, 2026Diluted EPS $0.56 versus $0.37.
May 15, 2026
Employee stock plan registration S-8
April 30, 2026
Shareholder vote results 8-K
April 29, 2026
Executive or director change 8-K

Recent insider filings (Forms 3, 4 and 144): 10, the latest on June 30, 2026. Insider transactions on SEC

Insider trades

What the people running Farmers & Merchants Bancshares, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.

No insider trades were reported in the last 90 days.

Bought (open market)

last 90 days

Sold

last 90 days

Date	Insider	What	Shares	Price	Value	Filing
June 18, 2026	Renbaum Barry J.10% owner	Other change	7,054	$17.64	$124.4K	Form 4
January 21, 2026	Luciani BarryEVP	Received as pay	1,200	-	-	Form 4
January 8, 2026	Krebs Mark C.Board Advisor	Received as pay	265	$17.02	$4.5K	Form 4
January 8, 2026	Hux Ronald W.Director	Received as pay	800	$17.02	$13.6K	Form 4
January 8, 2026	Schindler Bruce L.Director	Received as pay	2,287	$17.02	$38.9K	Form 4
January 8, 2026	Smack Teresa L.Director	Received as pay	827	$17.02	$14.1K	Form 4
January 8, 2026	Miller Emily BollingerDirector	Received as pay	910	$17.02	$15.5K	Form 4
January 8, 2026	Pollokoff Robert GDirector	Received as pay	823	$17.02	$14K	Form 4
November 25, 2025	Miller Emily BollingerDirector	Bought	750	$16.00	$12K	Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns FMFG

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

We have not read this company's Schedule 13D and 13G filings yet.

Largest institutional holders

No Form 13F positions imported for this company yet.

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

8 insiders reported holding 502,369 shares in total, about $9.4M at the last price.

Holder	Shares	As of
Renbaum Barry J.10% owner	335,432	June 18, 2026
Schindler Bruce L.Director	105,066	January 8, 2026
Hux Ronald W.Director	39,208	January 8, 2026
Smack Teresa L.Director	8,378	January 8, 2026
Krebs Mark C.Board Advisor	7,701	January 8, 2026
Miller Emily BollingerDirector	2,886	January 8, 2026
Pollokoff Robert GDirector	2,282	January 8, 2026
Luciani BarryEVP	1,416	January 21, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about FMFG

What does Farmers & Merchants Bancshares, Inc. do?

Farmers & Merchants Bancshares, Inc. is registered with the SEC under industry code SIC 6036 (Savings Institutions, Not Federally Chartered). Its shares trade on OTC under the ticker FMFG.

Is Farmers & Merchants Bancshares, Inc. profitable?

Yes. Over the twelve months to June 30, 2026 it reported net income of $7.1M.

When did Farmers & Merchants Bancshares, Inc. last report?

Its most recent periodic report is the quarterly report (10-Q) filed on August 11, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the executive or director change from September 23, 2026.

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Where the numbers come from

Financial figures are the values Farmers & Merchants Bancshares, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.