# Farmers & Merchants Bancshares, Inc. (FMFG)

> Cited company facts from SEC filings, by Steadybase. Web page: https://steadybase.io/company/farmers-and-merchants-bancshares-inc/ JSON: https://steadybase.io/company/farmers-and-merchants-bancshares-inc.json Checked Nov 10, 2026. Latest filing read: Aug 11, 2026.

## Company

- Legal name: Farmers & Merchants Bancshares, Inc.
- Ticker: FMFG (OTC)
- SEC CIK: 0001698022
- Industry: Savings Institutions, Not Federally Chartered (SIC 6036)
- Headquarters: Hampstead, MD
- Fiscal year ends: December 31
- SEC filer category: Non-accelerated filer<br>Smaller reporting company
- Website: fmb1919.bank
- Investor relations: https://ir.fm.bank/
- LinkedIn: https://www.linkedin.com/company/farmers-&-merchants-bank
- Next earnings date: Jan 20, 2027 (estimated from past 8-K timing)

## Key facts

- Revenue: $42.4M for the fiscal year ended Dec 31, 2025 (10-K filed Mar 26, 2026). Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/0001437749-26-009952-index.html
- Net income: $5.8M for the fiscal year ended Dec 31, 2025 (10-K filed Mar 26, 2026). Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/0001437749-26-009952-index.html
- Employees: 95 as of Dec 31, 2025, as reported in an SEC filing. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Shares outstanding: 3,262,958 as of Aug 11, 2026 (10-Q filed Aug 11, 2026). Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926027027/0001437749-26-027027-index.html
- Auditor: Yount, Hyde & Barbour, P.C., Richmond, Virginia, named in the latest 10-K. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm

## Business

Farmers and Merchants Bancshares, Inc. is a Maryland corporation chartered on August 8, 2016 that is registered with the Board of Governors of the Federal Reserve System (the “Federal Reserve”) as a bank holding company under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). At the time it registered as a bank holding company, the Company also elected to become a financial holding company, which allows it to engage in certain activities, and own shares or control of certain entities, that are in addition to those permissible for an entity that is a bank holding company only.

Source: Item 1. Business, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm

## Annual results

| Fiscal year ended | Revenue | Net income |
|---|---|---|
| Dec 31, 2025 | $42.4M | $5.8M |
| Dec 31, 2024 | $38.4M | $4.3M |
| Dec 31, 2023 | $31.3M | $6.4M |
| Dec 31, 2022 | $26.3M | $8.1M |
| Dec 31, 2021 | $25.7M | $8.1M |

Each figure comes from the annual report for that year. Filing links for every figure: https://steadybase.io/company/farmers-and-merchants-bancshares-inc.json

## Officers and directors

- Gary A. Harris, President and CEO. Source: 8-K filed Oct 22, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926033188/ex_1029137.htm
- Paul B. Susie, Treasurer and Chief Financial Officer. LinkedIn: https://linkedin.com/in/paul-susie-cpa-2154588. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Barry Luciani, EVP. LinkedIn: https://linkedin.com/in/barryluciani. Source: Form 4 filed Jan 29, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000206808226000001/0002068082-26-000001-index.htm
- Bruce L. Schindler, Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Edward A. Halle, Jr., Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Emily B. Miller, Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- James R. Bosley, Jr., Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Roger D. Cassell, Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Ronald W. Hux, Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Steven W. Eline, Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- Teresa L. Smack, Director. Source: 10-K filed Mar 26, 2026, https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm

## Recent 8-K events

- Oct 22, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926033188/fmfg20261021_8k.htm
- Sep 23, 2026: Item 5.02, Departure or appointment of directors or officers; compensation; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926031063/fmfg20260923_8k.htm
- Jul 23, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926024236/fmfg20260722_8k.htm
- Jun 16, 2026: Item 1.01, Entry into a material definitive agreement; Item 3.03, Material modification to rights of security holders; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926020810/fmfg20260616_8k.htm
- May 21, 2026: Item 5.05, Item 5.05; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926018092/fmfg20260521_8k.htm
- May 19, 2026: Item 8.01, Other events; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926017800/fmfg20260519_8k.htm
- Apr 30, 2026: Item 5.07, Submission of matters to a vote of security holders; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926014235/fmfg20260430_8k.htm
- Apr 29, 2026: Item 5.02, Departure or appointment of directors or officers; compensation; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926013896/fmfg20260429_8k.htm
- Apr 24, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926013241/fmfg20260423_8k.htm
- Jan 29, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926002410/fmfg20260129_8k.htm

## Insider trades (Form 4)

- Nov 25, 2025: Emily Bollinger Miller (Director) bought 750 shares, about $12,000. Source: https://www.sec.gov/Archives/edgar/data/1698022/000199113525000003/0001991135-25-000003-index.htm

## What management said

- "Our results through the first nine months of 2026 reflect the progress we're making across the Bank, with net income increasing 41.2% over the same period last year and loan growth of approximately $33 million year over year. For us, growth is about more than getting bigger. It's about becoming a better bank for the people and businesses who count on us. That means investing in our team, strengthening our capabilities, and making it easier for customers to do business with us" Gary A. Harris, President and CEO (8-K filed Oct 22, 2026). Source: https://www.sec.gov/Archives/edgar/data/1698022/000143774926033188/ex_1029137.htm

## Latest filings

- 8-K filed Oct 22, 2026: https://www.sec.gov/Archives/edgar/data/1698022/000143774926033188/fmfg20261021_8k.htm
- 10-K filed Mar 26, 2026: https://www.sec.gov/Archives/edgar/data/1698022/000143774926009952/fmfg20251231_10k.htm
- 10-Q filed Aug 11, 2026: https://www.sec.gov/Archives/edgar/data/1698022/000143774926027027/fmfg20260630_10q.htm
- DEF 14A filed Mar 26, 2026: https://www.sec.gov/Archives/edgar/data/1698022/000143774926009965/fmfg20260309_def14a.htm

## About this data

SEC EDGAR filings, read by Steadybase. Every value links to the filing it came from.
Steadybase covers US-headquartered public companies that file with the SEC. API and MCP access: https://steadybase.io/docs/