Farmers & Merchants Bancshares, Inc.
- FMFG · OTC
- Savings Institutions, Not Federally Chartered
- Hampstead, MD
- 95 employees
- CIK 0001698022
Updated from SEC filings through
Top things to know
Executives
- Gary A. Harris President and CEO 8-K, 2026-10-22
- Paul B. Susie Treasurer and Chief Financial Officer 10-K, 2026-03-26
- Barry Luciani EVP 4, 2026-01-29
What leadership is saying
“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”
Earnings press release (8-K Ex. 99.1), filed October 22, 2026
Farmers & Merchants Bancshares, Inc. is a U.S. public company in savings institutions, not federally chartered (SIC 6036), headquartered in Hampstead, MD. It trades as FMFG on OTC. Revenue was $42.4M in the fiscal year ending December 31, 2025, +10.4% from the year before. It reported about 95 employees. Gary A. Harris is President and CEO.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $42.4M 10-K, 2026-03-26 | $38.4M 10-K, 2026-03-26 | $31.3M 10-K, 2025-03-13 | $26.3M 10-K, 2024-03-11 | $25.7M 10-K, 2023-03-10 |
| Operating income | Not on file | Not on file | Not on file | Not on file | Not on file |
| SG&A | Not on file | Not on file | Not on file | Not on file | Not on file |
| Net income | $5.8M 10-K, 2026-03-26 | $4.3M 10-K, 2026-03-26 | $6.4M 10-K, 2025-03-13 | $8.1M 10-K, 2024-03-11 | $8.1M 10-K, 2023-03-10 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| Gary A. Harris | President and CEO | 8-K, 2026-10-22 |
| Paul B. Susie EVP, Chief Financial Officer | Treasurer and Chief Financial Officer | 10-K, 2026-03-26 |
| Barry Luciani EVP, Chief Retail Banking Officer | EVP | 4, 2026-01-29 |
| Bruce L. Schindler | Director | 10-K, 2026-03-26 |
| Edward A. Halle, Jr. | Director | 10-K, 2026-03-26 |
| Emily B. Miller | Director | 10-K, 2026-03-26 |
| James R. Bosley, Jr. | Director | 10-K, 2026-03-26 |
| Roger D. Cassell | Director | 10-K, 2026-03-26 |
| Ronald W. Hux | Director | 10-K, 2026-03-26 |
| Steven W. Eline | Director | 10-K, 2026-03-26 |
| Teresa L. Smack | Director | 10-K, 2026-03-26 |
What Farmers & Merchants Bancshares, Inc. does
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.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 3.3 million (as of August 11, 2026) | 10-Q, August 11, 2026 |
|---|---|---|
| Public float | $53.2M (as of June 30, 2025) | 10-K, March 26, 2026 |
| Latest proxy statement | Meeting April 28, 2026 (filed March 26, 2026) | DEF 14A, March 26, 2026 |
| Auditor | Yount, Hyde & Barbour, P.c. (Richmond, Virginia) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| November 25, 2025 | Emily Bollinger Miller Director | Buy | 750 | $12K | Form 4, November 26, 2025 |
Recent 8-K events
- 8-K filed 2026-10-22
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-09-23
- Item 5.02 Departure or appointment of directors or officers; compensation
- 8-K filed 2026-07-23
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-06-16
- Item 1.01 Entry into a material definitive agreement
- Item 3.03 Material modification to rights of security holders
- 8-K filed 2026-05-21
- Item 5.05 Item 5.05
- 8-K filed 2026-05-19
- Item 8.01 Other events
- 8-K filed 2026-04-30
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-04-29
- Item 5.02 Departure or appointment of directors or officers; compensation
- 8-K filed 2026-04-24
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-01-29
- Item 2.02 Results of operations and financial condition (earnings release)
Frequently asked questions about Farmers & Merchants Bancshares, Inc.
- What does Farmers & Merchants Bancshares, Inc. do?
- In its own words, from Item 1 of its 10-K: "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."
- What is Farmers & Merchants Bancshares, Inc.'s revenue?
- $42.4M for the fiscal year ending December 31, 2025, from its 10-K filed March 26, 2026.
- Is Farmers & Merchants Bancshares, Inc. profitable?
- Farmers & Merchants Bancshares, Inc. reported net income of $5.8M for the fiscal year ending December 31, 2025.
- How many employees does Farmers & Merchants Bancshares, Inc. have?
- About 95 as of December 31, 2025, as stated in its annual report.
- Who is the CEO of Farmers & Merchants Bancshares, Inc.?
- Gary A. Harris, President and CEO, as named in a 8-K filed October 22, 2026.
- Who is the CFO of Farmers & Merchants Bancshares, Inc.?
- Paul B. Susie, Treasurer and Chief Financial Officer, as named in a 10-K filed March 26, 2026.
- Where is Farmers & Merchants Bancshares, Inc. headquartered?
- Hampstead, MD.
- What is Farmers & Merchants Bancshares, Inc.'s stock ticker?
- FMFG on OTC.
- What industry is Farmers & Merchants Bancshares, Inc. in?
- Savings Institutions, Not Federally Chartered, SIC code 6036.
- What is Farmers & Merchants Bancshares, Inc.'s website?
- fmb1919.bank. Investor relations: https://ir.fm.bank/.
- When does Farmers & Merchants Bancshares, Inc. report earnings next?
- January 20, 2027. Source: estimate_8k_pattern.
- Is Farmers & Merchants Bancshares, Inc. a public company?
- Yes. Farmers & Merchants Bancshares, Inc. files with the SEC under CIK 0001698022 and trades as FMFG.
- Who audits Farmers & Merchants Bancshares, Inc.?
- Yount, Hyde & Barbour, P.c., Richmond, Virginia, as named in its latest annual report (10-K).
- How many shares of Farmers & Merchants Bancshares, Inc. are outstanding?
- 3.3 million shares as of August 11, 2026, from its 10-Q filed August 11, 2026.
- What is Farmers & Merchants Bancshares, Inc.'s public float?
- $53.2M as of June 30, 2025, as reported on the cover of its 10-K filed March 26, 2026.
- When is Farmers & Merchants Bancshares, Inc.'s annual shareholder meeting?
- April 28, 2026, per its proxy statement (DEF 14A) filed March 26, 2026.
- Have Farmers & Merchants Bancshares, Inc. insiders traded stock recently?
- Since November 25, 2025, officers and directors reported 0 open-market sales and 1 purchase worth about $12K on Forms 4 and 5. The most recent: Emily Bollinger Miller (Director) bought 750 shares on November 25, 2025.