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Farmers Merchants Bancorp

Farmers Merchants Bancorp (ZTS) is a bank holding company based in Los Gatos, California. Here's an overview of the company:

**Company Overview:**

Farmers Merchants Bancorp is a community bank holding company that operates Farmers Merchants Banks, a commercial bank with 23 branches in the San Francisco Bay Area. The company was founded in 1899 and is listed on the NASDAQ stock exchange under the ticker symbol FMER.

**Business Description:**

Farmers Merchants Bancorp provides a range of financial services, including personal and business banking, commercial lending, and wealth management. The company's services include checking and savings accounts, CDs, IRAs, mortgages, commercial loans, and wealth management services.

**Financial Highlights:**

* Net income: The company reported net income of $13.3 million in 2020, a decline from $14.1 million in 2019.

* Assets: Farmers Merchants Bancorp's total assets stood at $2.3 billion as of December 31, 2020.

* Share price: The company's stock (ZTS) has a market capitalization of around $200 million and a 52-week range of $22.49 to $31.50 as of August 2021.

**Competitive Position:**

Farmers Merchants Bancorp operates in a competitive banking industry in the San Francisco Bay Area. The company faces competition from larger regional and national banks, as well as community banks and credit unions.

**Growth Strategy:**

The company has focused on building its presence in the San Francisco Bay Area by expanding its branch network and investing in technology to improve customer service. Farmers Merchants Bancorp has also sought to diversify its revenue streams through its wealth management services.

**Institutional Ownership:**

As of June 2021, institutional investors own approximately 82% of the company's shares, with the largest holdings coming from Vanguard Group Inc. and BlackRock, Inc.

**Key Risks:**

Farmers Merchants Bancorp faces various risks, including credit risk, interest rate risk, and operational risk. The company is also exposed to market and economic risks, which can impact its profitability and stock price.

Overall, Farmers Merchants Bancorp is a community bank holding company with a long history and a strong presence in the San Francisco Bay Area. While the company faces challenges in the competitive banking industry, it has a diversified revenue stream and a commitment to technology and customer service.