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Merchants & Farmers to Add Bank in Benton

Farmers Bankshares, Inc Reports Record Earnings for 2020

Share this article Share this article WINDSOR, Va., Feb. 12, 2021 /PRNewswire/ Farmers Bankshares, Inc. (OTC-PINK: FBVA) reports unaudited earnings of $1.8 million, or $0.57 per share, for the fourth quarter of 2020.  These results are increased from the $921 thousand, or $0.30 per share, earned during the fourth quarter of 2019.  The Company posted record earnings for the year, which amounted to $5.4 million or $1.74 per share, which is a 6.07% increase from the $5.1 million or $1.65 per share, reported for 2019.   At December 31, 2020, select financial information and key highlights include: Return on average assets of 1.05%, compared to 1.10% in 2019. Return on average equity of 8.70%, compared to 9.49% in 2019. Return on average tangible common equity (1) of 10.45%, compared to 11.82% in 2019.

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