Farmers & Merchants Bank of Long Beach swings to Q3 loss after securities sale

Farmers & Merchants Bank of Long Beach

20/10/2026 13:21

Overview
US regional bank posted Q3 net loss after strategic sale of low-yield securities
Net interest income and margin improved yr/yr as legacy assets were replaced with higher-yielding ones
Company repurchased $12 mln in common stock during first nine months of 2026

Outlook
Bank expects to report net income for full 2026 year

Result Drivers
SECURITIES SALE - Co said Q3 net loss was driven by non-recurring loss on sale of legacy low-yield municipal bonds as part of strategic balance sheet repositioning
HIGHER YIELDS - Replacement of legacy securities with higher-yielding securities and loans increased net interest margin and improved future profitability

Company press release: ID:nBw9g3Blxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Loss Per Share
 
$264.89
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)