30 Dividend Kings of 2021 (Part III)
10. Farmers & Merchants Bancorp, Inc. (OH) Common Stock (NASDAQ: FMAO)
Dividend Yield: 2.82%
The Farmers & Merchants Bancorp offers commercial banking services, with a special focus on agriculture sector. It also offers agricultural and residential mortgage, consumer and credit card lending activities. In 2020, the company increased its dividend for the 55
th straight year. Earlier in February, the company posted its full-year results. GAAP EPS in the quarter came in at $74.03, while revenue in the quarter jumped 2% to $174.3 million.
Dividend Yield: 2.89%
Cincinnati Financial offers property and casualty insurance services. In the third quarter, the company posted non-GAAP operating income of $0.39 cents per share, in-line with the Wall Street’s estimates. As of the end of the third quarter, 19 hedge funds tracked by Insider Monkey held stakes in the company. The total value of these stakes is $735.84 million.
F&M Bancorp announces acquisition
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Farmers & Merchants Continues Indiana Growth
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ARCHBOLD, Ohio, Dec. 21, 2020 (GLOBE NEWSWIRE)
Farmers & Merchants Bancorp, Inc. (“F&M” or the “Company”) (Nasdaq: FMAO), the holding company for Farmers & Merchants State Bank, announced today that they have signed an agreement and plan of reorganization and merger (the “Agreement”) whereby F&M will acquire Ossian Financial Services, Inc. (“OFSI”), the holding company for Ossian State Bank, in a cash transaction. OFSI operates two full-service offices in northeast Indiana and has approximately $122 million in assets, $58 million in loans, $108 million in deposits and $11.9 million in consolidated equity as of September 30, 2020. OFSI is taxed as an S-Corporation.
Subject to the terms of the Agreement, which has been unanimously approved by the Board of Directors of each company, aggregate cash consideration of the deal is equal to $20 million, representing $67.71 per share. The consideration is subject to potential adjustment, as set forth in the Agreement, in
Farmers & Merchants Bancorp announces quarterly dividend
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