Farmers & Merchants Bancshares, Inc. (FMFG) › Shareholders' EquityFarmers & Merchants Bancshares, Inc. (FMFG) — Shareholders' EquityAnnual figures by fiscal year, from SEC filings.2015: $36.22M2016: $39.01M2017: $41.80M2018: $45.39M2019: $49.45M2020: $51.73M2021: $56.62M2022: $47.77M2023: $52.18M2024: $56.27M2025: $64.66M$64.66M2015Shareholders' Equity (USD)2025Fiscal YearShareholders' EquityChange YoY2025$64.66M+14.9%2024$56.27M+7.8%2023$52.18M+9.2%2022$47.77M-15.6%2021$56.62M+9.5%2020$51.73M+4.6%2019$49.45M+8.9%2018$45.39M+8.6%2017$41.80M+7.1%2016$39.01M+7.7%2015$36.22M—Other metrics: RevenueCost of RevenueGross ProfitOperating IncomeNet IncomeEPS (Diluted)Total AssetsTotal LiabilitiesCash & EquivalentsOperating Cash FlowCapital ExpendituresShares OutstandingDividends Per Share