UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) October 20, 2004 -------------------------------- Farmers & Merchants Bancorp, Inc. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) Ohio 000-14492 34-1469491 - -------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 307-11 N. Defiance, Archbold, Ohio 43502 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, including Area Code (419) 446-2501 ----------------------------- N/A - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17-CFR 240.13e-4(c))
ITEM 2.02(a). RESULTS OF OPERATIONS AND FINANCIAL CONDITION On October 20, 2004, Farmers & Merchants Bancorp, Inc. sent a letter and financial information to shareholders also enclosing a check for dividends in the amount of $0.45 per share. A copy of the information sent to shareholders is attached hereto as Exhibit 20. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial Statements of businesses acquired. Not Applicable. (b) Pro forma financial information. Not Applicable. (c) Exhibits: Exhibit Number Description of Exhibit - -------------- ---------------------- 20 Letter to Shareholders announcing quarterly dividends.
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto authorized. Dated: October 21, 2004 /s/ Joe E. Crossgrove --------------------- Joe E. Crossgrove President & Chief Executive Officer /s/ Barbara J. Britenriker ----------------------------------- Barbara J. Britenriker Executive Vice President & Chief Financial Officer (Principal Financial and Accounting Officer)
EXHIBIT INDEX Exhibit Number Description of Exhibit - ------ ---------------------- 20 Correspondence to Shareholders announcing quarterly dividend.
EXHIBIT 20 ================================================================================ [FARMERS & MERCHANTS BANCORP, INC. LOGO] REPORT TO SHAREHOLDERS THIRD QUARTER SEPTEMBER 30, 2004 a tradition of value ================================================================================
MESSAGE FOR MANAGEMENT October 20, 2004 Dear Shareholders: Enclosed is your regular quarterly dividend of $.45 per share payable October 20, 2004, to shareholders of record September 10, 2004, along with the first nine months Statement of Operations. Profits for the first nine months have been strong and with your continued support and the efforts of our employees, we hope to maintain this performance for the rest of the year. After three years of historically low interest rates, with recent increases of the prime rate by 75 basis points, they have now begun to rise. An increase of 50 more basis points is expected by the first quarter of next year in The Federal Reserve's effort to keep inflation under control. The need for loans continues and remains very competitive. The increase in the Federal Funds rate is not having a negative impact on loan demand. The balance of the year will remain very challenging; however, as always, we remain optimistic. We look forward to maintaining our goals of sound, stable growth. We are very pleased to announce that Daniel W. Schutt joined the bank as of July 15, 2004 as Executive Vice President and Chief Loan Administrator. Dan and his wife Rebecca live in Antwerp, Ohio having always resided in Northwest Ohio. Please stop in the Main Office and introduce yourself to Dan at your convenience. We are very pleased to have Dan as the newest member of the F & M family. Once again our Agricultural Staff purchased livestock at the Northwest Ohio County Fairs (Fulton, Henry, Williams and Defiance) as well as the Hillsdale and Lucas County Fairs. We are always pleased to show our support for our youth in the agricultural field. The directors, officers and staff thank you for your support and extend to you our best wishes for the rest of the year. Sincerely, /s/ Joe E. Crossgrove Joe E. Crossgrove President/CEO DIRECTORS AND OFFICERS OF FARMERS & MERCHANTS BANCORP, INC. DIRECTORS EUGENE D BERNATH Chairman of the Board The Farmers & Merchants State Bank DEXTER L. BENECKE President, Viking Trucking Vice President, SanJan, Inc. JERRY L. BOYERS President, Edifice Construction Management JOE E. CROSSGROVE President & Chief Executive Officer The Farmers & Merchants State Bank STEVEN A. EVERHART Secretary/Treasurer, MCB Holding, Inc. ROBERT G. FREY President, E.H. Frey & Sons, Inc. President, Yoder & Frey, Inc. JACK C. JOHNSON President, Hawk's Clothing, Inc. Partner, REJO Partnership DEAN E. MILLER President, MBC Holdings, Inc. ANTHONY J. RUPP President, Rupp Furniture Co. DAVID P RUPP, JR. Attorney, Plassman, Rupp, Hensal, Short & Hagans JAMES C. SANEHOLTZ President, Saneholtz-McKarns,Inc. KEVIN J. SAUDER President & CEO, Sauder Woodworking Company MERLE J. SHORT President, Promow, Inc. STEVEN J. WYSE President, SteelinQ Systems, Inc. OFFICERS EUGENE D. BERNATH Chairman of the Board JOE E. CROSSGROVE President, Chief Executive Officer & Treasurer DEAN E. MILLER Vice Chairman of the Board DAVID P. RUPP, JR. Vice President BARBARA J. BRITENRIKER Chief Financial Officer CAROL J. ENGLAND Secretary LYDIA A. HUBER Assistant Secretary DAVID W. KOWALSKI Senior Auditor
================================================================================ CONSOLIDATED BALANCE SHEET - -------------------------------------------------------------------------------- SEPTEMBER 30, DECEMBER 31, SEPTEMBER 30, 2004 2003 2003 ------------------------------------------------- (UNAUDITED) (DOLLARS IN THOUSANDS) ASSETS: Cash and due from banks $ 15,397 $ 18,873 $ 15,531 Interest Bearing Deposits in Other Banks 1,740 662 608 Investment Securities U.S. Treasury 2,913 6,637 2,823 U.S. Government Agencies 106,631 111,011 113,212 State & Political Subdivisions 56,350 51,016 53,297 All Others 3,617 2,028 1,973 Federal Funds Sold & Securities Purchased Under Agreement to Resell 0 0 0 Loans & Leases 488,784 480,339 489,928 Bank Premises and Equipment 15,520 15,874 15,906 Accrued Interest and Other Assets 14,539 19,263 18,526 -------- -------- -------- TOTAL ASSETS $705,491 $705,703 $711,804 LIABILITIES: Deposits Non-interest bearing 47,953 50,710 42,623 Interest bearing 530,708 524,356 528,553 Federal Funds Purchased & Securities Sold Under Agreement to Repurchase 21,664 27,319 29,531 Other Borrowed Money 23,248 24,374 27,139 Accrued Interest and Other Liabilities 3,637 4,088 10,290 -------- -------- -------- TOTAL LIABILITIES $627,210 $630,847 $638,136 SHAREHOLDER'S EQUITY: Common Stock, no par value - Authorized 1,500,000 shares; issued 1,300,000 shares 12,677 12,677 12,677 Undivided Profits 64,629 60,196 58,831 Accumulated other comprehensive income 975 1,983 2,160 -------- -------- -------- TOTAL SHAREHOLDER'S EQUITY 78,281 74,856 73,668 -------- -------- -------- TOTAL LIABILITIES & SHAREHOLDER'S EQUITY $705,491 $705,703 $711,804 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CONSOLIDATED STATEMENT OF EARNINGS - -------------------------------------------------------------------------------- THIRD QUARTER THIRD QUARTER NINE MONTHS NINE MONTHS ENDED SEPT. 30, ENDED SEPT. 30, ENDED SEPT. 30, ENDED SEPT. 30, 2004 2003 2004 2003 ---------------------------------- ---------------------------------- (UNAUDITED) (DOLLARS IN THOUSANDS) (UNAUDITED) (DOLLARS IN THOUSANDS) Interest income $ 9,249 $ 10,182 $ 27,920 $ 31,268 Interest expense 2,759 3,361 8,284 11,297 -------- -------- -------- -------- Net Interest Income 6,490 6,821 19,636 19,971 Provision for loan losses 150 675 941 5,373 -------- -------- -------- -------- Net interest income after provision for loan losses 6,340 6,146 18,695 14,598 Non interest income 1,374 1,589 3,866 5,033 Non interest expense 4,644 4,044 13,744 12,380 Income tax expense 929 1,100 2,629 1,691 -------- -------- -------- -------- NET INCOME 2,141 2,591 6,188 5,560 Net income per share based on 1,300,000 outstanding shares $ 1.65 $ 1.99 $ 4.76 $ 4.28 ======== ======== ======== ======== Other comprehensive income, net of tax: Unrealized gains (losses) on loans and securities held as available for sale 1,397 (1,529) (1,008) (1,556) Comprehensive Income $ 3,538 $ 1,062 $ 5,180 $ 4,004 "This Statement has not been reviewed, or confirmed for accuracy or relevance, by the Federal Deposit Insurance Corporation." ================================================================================
================================================================================ FARMERS & MERCHANTS BANCORP, INC. - -------------------------------------------------------------------------------- ARCHBOLD Main Office Woodland Office 307-11 N. Defiance St. 1313 S. Defiance St. Archbold, Ohio 43502 Archbold, Ohio 43502 (419)466-2501 (419)446-2531 Operations Center 620 S. Clyde's Way Archbold, Ohio 43502 (419)446-2501 WAUSEON North Shoop Office Downtown Office 1130 N. Shoop Ave. 119 N. Fulton St. Wauseon, Ohio 43567 Wauseon, Ohio 43567 (419)337-2010 (419)337-3085 BRYAN East High Office SouthTowne Office 929 E. High St. 1000 S. Main St. Bryan, Ohio 43506 Bryan, Ohio 43506 (419)636-9011 (419)636-6104 STRYKER WEST UNITY 300 S. Defiance St. 200 W. Jackson St. Stryker, Ohio 43557 West Unity, Ohio 43570 (419)682-3411 (419)924-2321 DELTA NAPOLEON 101 Main St. 2255 N. Scott St. Delta, Ohio 43515 Napoleon, Ohio 43545 (419)822-9510 (419)592-2077 MONTPELIER West Main Office Eastside Office 225 W. Main St. 1150 E. Main St. Montpelier, Ohio 43543 Montpelier, Ohio 43543 (419)485-8387 (419)485-1363 SWANTON DEFIANCE 7 Turtle Creek Circle 1175 Hotel Drive Swanton, Ohio 43558 Defiance, Ohio 43512 (419)825-3339 (419)782-9421 [FARMERS & MERCHANTS BANCORP, INC. LOGO]