false 0000792966 0000792966 2020-11-13 2020-11-13

 

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) November 13, 2020

 

Farmers & Merchants Bancorp, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

Ohio	001-38084	34-1469491
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

 

307 North Defiance Street, 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)

 

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of Each Exchange
Common Stock, No Par Value	FMAO	NASDAQ Capital Market

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

---

ITEM 8.01.Other Events

On November 13, 2020, Farmers & Merchants Bancorp, Inc. issued a press release announcing its plans to consolidate four of its offices as part of the Company’s strategic plan to improve operating efficiencies, reinvest in new remote and electronic banking initiatives, and better serve customers.  A copy of the press release is furnished herewith as Exhibit 99.

ITEM 9.01.Financial Statements and Exhibits

(d)

Exhibits.

 

Exhibit Number	Exhibit
99	Company Press release dated November 13, 2020

 

104	The Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

---

Signatures

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.

 

	FARMERS & MERCHANTS BANCORP, INC.
		(Registrant)
Dated: November 13, 2020		/s/ Lars B. Eller
		Lars B. Eller
		President and Chief Executive Officer
		/s/ Barbara J. Britenriker
		Barbara J. Britenriker
		Executive Vice President and Chief Financial Officer

 

Exhibit 99

 

 

Farmers & Merchants Bancorp, Inc. Announces Office Realignment

Consolidation Part of Strategic Plan and Continued Investments in Remote and Electronic banking

to Enhance Customer Banking Experience

 

ARCHBOLD, OHIO, November 13, 2020, Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today announced plans to consolidate four of its offices as part of the Company’s strategic plan to improve operating efficiencies, reinvest in new remote and electronic banking initiatives, and better serve customers.  

 

Lars B. Eller, President and Chief Executive Officer, stated: “Our customers have come to expect the best and easiest banking experience from us, and we continue to work hard to deliver on that expectation. Over the years, we have continued to allocate resources into developing ways to bank with us electronically and remotely. Our customers are using these products and services more and more every day, including during the limited access of in-lobby banking that occurred earlier this year as a result of the COVID-19 pandemic.”

 

F&M’s office realignment plans include:

 

Additional information relating to the closures will be sent to the customers that bank at these offices in the next few days.  In addition, customers with safe deposit boxes at the effected offices will receive detailed information on how to transfer the contents within the next 30 days.  Customers with any questions or concerns, please call F&M at 419-446-2501.  Employees impacted by F&M’s office consolidation program will have opportunities to transition to other roles within F&M over the course of the next few months.  

 

Mr. Eller continued: “Consolidating offices is a challenging but necessary decision and follows a thorough review of our operations.  Having a physical presence in our markets remains an important

---

component of our community-oriented values and the locations we are closing are all conveniently located near other F&M offices.  In addition, the added ease of being able to bank with F&M in various ways has reduced the usage of some of our office locations. As a result, we want to continue to meet our goal of delivering the best products, services, and customer experience to our communities and will redirect resources to support our remote and electronic banking platform.”  

 

“We are working closely with affected employees to help them transition to other roles within F&M.  Over the past 12 months, we have added new loan production offices in Muncie, IN and Oxford, OH.  In addition, a new loan production office in West Bloomfield, MI and a new full-service branch in Fort Wayne are expected to open in the coming weeks.  Our expansion strategy is adding high-quality jobs within our communities and I am encouraged with our ability to attract experienced, motivated, and dedicated associates to the F&M team.  For offices impacted by our consolidation plans, we are working on opportunities that we believe will enable continued contributions to our communities,” concluded Mr. Eller.  

 

About Farmers & Merchants State Bank:  

The Farmers & Merchants State Bank is a local independent community bank that has been serving Northwest Ohio and Northeast Indiana since 1897.  The Farmers & Merchants State Bank provides commercial banking, retail banking and other financial services through its offices. Our locations are in Fulton, Defiance, Hancock, Henry, Lucas, Williams, and Wood counties in Northwest Ohio.  In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, and Steuben counties.

 

Safe harbor statement

Farmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended.  Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information.  For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.