Farmers and Merchants Bancshares, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $5.8M | $4.3M | $6.4M | $8.1M | $8.1M | $2.7M | $4.6M | $4.7M |
| Depreciation & Amortization | $750.0K | $636.0K | $510.0K | $482.5K | $470.9K | $415.8K | $344.2K | $380.5K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $172.1K | $77.4K | $43.5K | $36.6K | $36.5K | $44.1K | $49.2K | $57.8K |
| Stock-Based Compensation | $172.0K | $18.0K | $43.0K | $0 | — | — | — | — |
| Net Cash from Operating Activities | $6.1M | $2.3M | $5.9M | $7.2M | $11.7M | $4.5M | $5.7M | $5.4M |
| Investing Activities | ||||||||
| Capital Expenditures | $370.0K | $1.3M | $863.0K | $410.8K | $300.4K | $387.1K | $256.6K | $191.7K |
| Business Acquisitions | — | — | — | — | $0 | $19.4M | — | — |
| Net Cash from Investing Activities | $-41.5M | $-22.7M | $-42.4M | $-35.4M | $-59.0M | $-45.7M | $-29.0M | $-7.2M |
| Financing Activities | ||||||||
| Dividends Paid | $1.3M | $1.4M | $1.2M | $1.2M | $1.2M | $1.1M | $1.0M | $933.9K |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $17.5M | $40.4M | $73.9M | $9.0M | $32.8M | $73.1M | $17.8M | $9.2M |
| Net Change in Cash | $-18.0M | $20.0M | $37.4M | $-19.2M | $-14.5M | $31.9M | $-5.5M | $7.4M |
| Free Cash Flow | $5.7M | $968.0K | $5.0M | $6.7M | $11.4M | $4.1M | $5.5M | $5.2M |