Updated
The most significant concentration Farmers & Merchants Bancorp, In discloses is agricultural loans, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Farmers & Merchants Bancorp, In’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1: 'a substantial amount of the loan portfolio is comprised of loans made to customers in the agricultural industry for such items as farmland, farm equipment, livestock and operating loans for seed, fertilizer, and feed'”
“10-K Item 1A: 'Uninsured deposits based on FDIC coverage as a percentage of total deposits was 20.6% as of December 31, 2025'”
Farmers & Merchants Bancorp's concentration profile centers on its loan book's tie to a single industry: a substantial amount of the loan portfolio is comprised of loans to customers in the agricultural industry, covering items such as farmland, farm equipment, livestock, and operating loans for seed, fertilizer, and feed — a structural exposure of medium share that ties earnings to agricultural cycles rather than to any single borrower. Separately, uninsured deposits (based on FDIC coverage) stood at 20.6% of total deposits at year-end 2025, a low-share funding exposure that could matter in a stress scenario but is not a dominant share of the deposit base. Taken together, the two exposures are complementary rather than compounding: the agricultural loan concentration is the more structural, cyclical factor most likely to influence the verdict, since it reflects the bank's core lending strategy, while the uninsured deposit share is a smaller, liquidity-oriented dependency. Both are disclosed in the most recent 10-K.
For the engine’s reasoning on FMAO’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMAL | Amalgamated Financial Corp. | 2 | 1 | 0 | 3 |
| ACNB | ACNB Corporation | 1 | 1 | 0 | 2 |
| ALRS | Alerus Financial Corporation | 1 | 1 | 0 | 2 |
| AMTB | Amerant Bancorp Inc. | 0 | 1 | 1 | 2 |
| FMAO● | Farmers & Merchants Bancorp, In | 0 | 1 | 1 | 2 |
| ABCB | Ameris Bancorp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.