
Farmers & Merchants Bank of Long Beach Names Mark E. Harrison to Board of Directors
Harrison, 61, recently retired after having spent nearly four decades at KPMG LLP as part of the firm's financial services industry practice. His client base was comprised of numerous depository institutions including a large number of regional and community banks as well as large money center banks, and for more than 15 years, he provided tax consulting and advisory services directly to the Bank. Over the course of his career, Harrison specialized in providing consultations in the contexts of mergers and acquisitions, complex financial transactions and instruments, tax credit investments structures and accounting for federal and state income taxes.
'Mark brings a remarkable blend of financial acumen, risk oversight, and hands-on experience with institutions much like ours,' said Daniel K. Walker, executive chairman of F&M's board. 'His deep understanding of the regional banking landscape—shaped by decades of advising financial institutions—and his long-standing relationship with our Bank make him an exceptional addition to our board as we continue to enhance our regulatory posture and pursue long-term growth for our clients and shareholders.'
Harrison is a respected educator, having served as a clinical professor in the Graduate Taxation program at the University of Southern California and a contributing author of Taxation of Financial Institutions, Second Edition (LexisNexis, 2018). He is a Certified Public Accountant licensed to practice in California and New York. Harrison also is an active community leader, serving on the board of the South Bay Classical Academy, and previously on the boards of Big Brothers Big Sisters of the East Bay and the YMCA of Metropolitan Los Angeles.
Harrison holds a master's degree in Taxation from Golden Gate University and a bachelor's degree in Business Administration from the University of California, Berkeley.
About Farmers & Merchants Bank of Long Beach
Founded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank provides white-glove service to clients at 27 branches from San Clemente to Santa Barbara, as well as through its Online and Mobile Banking platforms. The Bank offers commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please visit the website, www.fmb.com.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Miami Herald
6 minutes ago
- Miami Herald
A parent's guide to Miami neighborhoods with A-plus schools
In Miami, great schools often signal more than just academic quality — they can reflect strong community ties, safe neighborhoods and enriching extracurricular opportunities. If you're moving with kids, zoning for top-rated public schools can be a smart way to narrow your home search. From nationally recognized elementary schools to award-winning magnet programs, these Miami neighborhoods stand out for education. School Districts in Miami Florida school districts are divided by county. All residents of the Miami metro area are zoned in Miami-Dade County Public Schools. As the third-largest school district in the country, M-DCPS serves over 330,000 students every year. Overall, the Florida Department of Education gave M-DCPS a grade of 'A' for the last three years. Because M-DCPS is such a large district, its schools are divided into three regions: North, Central and South. Each region has its own superintendent and geographical area to support. Families moving to the Miami area should consider which of these regions best meets their needs for housing, community and schools. When you're looking for homes for sale in Miami, use the M-DCPS school locator tool to see which neighborhood schools you're assigned. School Choice, Charters, and Magnet Schools Miami-Dade County Public Schools offer families a variety of educational options beyond their assigned neighborhood schools. Through its school choice program, students can apply to attend schools with specialized academic programs across the district. While all students are zoned for a neighborhood school, many of these schools include unique enrichment opportunities, such as language immersion, STEM tracks or arts integration. M-DCPS also operates a number of magnet and charter schools that serve students countywide. Charter schools and magnet schools provide more specialized programs to students, drawing from the entire area (rather than just the neighborhood). Magnet schools are public schools with specialized themes or curricula, such as performing arts, international studies, or technology. Admission is often competitive and based on an application schools are independently run public schools that may center around alternative teaching models or focus areas. These schools are tuition-free and open to all students, but admission may be limited based on capacity. Parents can find information about the school choice program from the M-DCPS website. North Region The North Region covers the neighborhoods of North Miami, Miami Lakes, parts of Hialeah, and Miami Beach. With great options for schools at every level, these three stand out for consistent 'A' rankings and a plethora of activities. North Beach Elementary School North Beach Elementary is an International Baccalaureate Primary Years Programme (IB-PYP) school, which encourages students to become globally minded, inquiry-driven learners from a young age. The school's vision is to 'educate the whole child' and foster 'responsible citizens of the world.' Alongside consistently high academic scores, the school also received the 2025 Upstander School designation, highlighting its anti-bullying and empowering atmosphere. Hialeah Gardens Middle School As a non-magnet school, Hialeah Gardens Middle still offers an impressive array of activities and clubs for its students, from Agriscience to Law Academy. The school's vision includes fostering 'a learning environment where diversity is valued.' Barbara Goleman Senior High School Awarded the Top School of Excellence for 2025 from the American Magnet Schools Association, this magnet school for academically gifted students is a standout. Students focus on STEM fields, including Cybersecurity and Digital Marketing. The school also supports more than 50 sports and clubs. Central Region Miami's Central Region covers neighborhoods near downtown Miami, Key Biscayne, Miami Springs, West Miami, Doral, Sweetwater, Coconut Grove and Coral Gables. These schools highlight Miami's strength in delivering high-quality education to a diverse student population. Coconut Grove Elementary School With both French and Spanish programs offered as part of the regular curriculum, Coconut Grove Elementary promotes academic success alongside good character. The school has received multiple 'School of Excellence' honors and holds a long-standing reputation as the first public school in Miami-Dade County. Coral Gables Preparatory Academy This K-8 school is committed to a safe learning environment where every student can succeed. The National PTA School of Excellence designation highlights the high level of community involvement. South Region – Top Miami Schools The South Region of M-DCPS includes consistently top-performing schools. In rankings of the best school district zones in Miami, the neighborhoods of Pinecrest and Palmetto Bay are almost always included. While some schools in southern Miami-Dade near Homestead may have lower scores, families looking for the strongest academic zones should focus on the Pinecrest area. Pinecrest Elementary School Pinecrest Elementary receives stellar ratings across the board. From test scores to parent involvement, this K-5 school has earned an 'A' grade school for 26 consecutive years. Its list of accolades extends beyond academics. It is designated as both a 'kindness school' and a green school, highlighting that the community at Pinecrest Elementary is fully committed to excellence. Palmetto Middle School This school uses the Cambridge Academy model, which integrates traditional academics with project-based learning and inquiry. Palmetto Middle supports students' social and emotional development alongside academic success. Miami Palmetto Senior High School This top-ranking magnet school offers high school students a range of college and career tracks, including technical education and visual or performing arts, while also developing strong foundational skills. The school's goal to help students 'achieve the extraordinary' is clear through energetic community participation and consistently high academic scores. Choosing the best school for your children is a major decision, but fortunately, Miami has plenty that make the grade year after year.

Yahoo
36 minutes ago
- Yahoo
BAB, Inc. Reports Results for 2nd Quarter FY 2025
DEERFIELD, Ill., July 03, 2025 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB: BABB), announced its financial results for the second quarter ended May 31, 2025. For the quarter ended May 31, 2025 BAB had revenues of $808,000 and net income of $154,000, or $0.02 per share earnings, versus revenues of $883,000 and net income of $146,000, or a $0.02 per share, for the same quarter last year. Our total revenue for the three months ended May 31, 2025 decreased compared to the prior period primarily due to a decrease in marketing fund expenses, which drive the recognition of marketing fund revenue. Under U.S. GAAP, we recognize marketing fund revenue at the time the related marketing fund expenses are incurred. As marketing fund revenue and expense directly offset each other in any given period, the decline has no impact on net income. For the six months ended May 31, 2025, revenues were $1,566,000 and net income was $271,000, or $0.04 per share, versus revenues of $1,719,000 and net income of $244,000, or $0.03 per share for the same period in 2024. Our total revenue for the six months ended May 31, 2025 decreased compared to the prior period primarily due to a decrease in marketing fund expenses, which drive the recognition of marketing fund revenue. Under U.S. GAAP, we recognize marketing fund revenue at the time the related marketing fund expenses are incurred. As marketing fund revenue and expense directly offset each other in any given period, the decline has no impact on net income. Total operating expenses for the three months ended May 31, 2025, were $608,000, versus $696,000, in 2024. The change in operating expenses for the quarter May 31, 2025 was primarily due to a decrease in marketing fund expenses of $80,000, a decrease in professional services of $15,000, employee benefits of $14,000 and a decrease in occupancy expense of $6,000, offset by an increase in payroll of $7,000 an increase in other expenses of $20,000. Total operating expenses for the six months ended May 31, 2025 were $1,218,000 versus $1,410,000 for May 31, 2024. Marketing expenses accounted for $122,000 of the decrease for the six months of 2025 compared to same period 2024. The Marketing Department is planning on increased spending in the third and fourth quarters of fiscal 2025 as they complete scheduled marketing projects. In addition, in the six months for May 31, 2025 there was a decrease of $35,000 in employee benefit expense, a decrease in professional fees of $16,000 and a decrease in other expenses of $19,000 versus 2024. BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® frozen yogurt and Brewster's® Coffee. The Company's stock is traded on the OTCQB under the symbol BABB and its website can be visited at Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'forecast,' 'estimate,' 'project,' 'intend,' 'expect,' 'should,' 'would,' 'believe' and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company's SEC filings. (TABLE FOLLOWS) Contact: BAB, Inc. Michael K. Murtaugh (847) 948-7520 Fax: (847) 405-8140 INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Quarter Ended Six Months Ended 05/31/25 05/31/24 % Change 05/31/25 05/31/24 % Change REVENUES Royalty fees from franchised stores $511,879 $513,474 -0.3 % $969,073 $973,163 -0.4 % Franchise and area development fee revenue 3,583 9,215 -61.1 % 12,166 19,461 -37.5 % Licensing fees and other income 65,975 53,513 23.3 % 140,353 160,101 -12.3 % Marketing Fund Revenue 227,049 306,636 -26.0 % 444,095 566,047 -21.5 % Total Revenue 808,486 882,838 -8.4 % 1,565,687 1,718,772 -8.9 % OPERATING COSTS AND EXPENSES Selling, general and administrative 379,698 388,771 -2.3 % 771,694 842,334 -8.4 % Depreciation and amortization 981 981 0.0 % 1,961 1,961 0.0 % Marketing Fund Expenses 227,049 306,636 -26.0 % 444,095 566,047 -21.5 % Total Expense 607,728 696,388 -12.7 % 1,217,750 1,410,342 -13.7 % Income from operations 200,758 186,450 7.7 % 347,937 308,430 12.8 % Interest expense - - - - - - Interest/other income 13,734 16,735 -17.9 % 28,622 32,260 -11.3 % Income taxes (60,200 ) (57,500 ) 4.7 % (106,000 ) (96,500 ) 9.8 % NET INCOME $154,292 $145,685 5.9 % $270,559 $244,190 10.8 % Earnings per share - basic and diluted $0.02 $0.02 N/M $0.04 $0.03 N/M Average number of shares outstanding 7,263,508 7,263,508 7,263,508 7,263,508Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
42 minutes ago
- Yahoo
Preferred Bank Announces 2025 Second Quarter Earnings Release and Conference Call
LOS ANGELES, July 03, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the second quarter ended June 30, 2025 before the open of market on Monday, July 21, 2025. That same day, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific). The call will be simultaneously broadcast over the Internet. Interested participants and investors may access the conference call by dialing 888-243-4451 (domestic) or 412-542-4135 (international) and referencing 'Preferred Bank.' There will also be a live webcast of the call available at the Investor Relations section of Preferred Bank's website at Preferred Bank's Chairman and CEO Li Yu, President and Chief Operating Officer Wellington Chen, Chief Financial Officer Edward J. Czajka, Chief Credit Officer Nick Pi and Deputy Chief Operating Officer Johnny Hsu will discuss Preferred Bank's financial results, business highlights and outlook. After the live webcast, a replay will be available at the Investor Relations section of Preferred Bank's website. A replay of the call will also be available at 877-344-7529 (domestic) or 412-317-0088 (international) through July 28, 2025; the passcode is 9171084. About Preferred Bank Preferred Bank is one of the larger independent commercial banks headquartered in California. The Bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Bank conducts its banking business from its main office in Los Angeles, California, and through twelve full-service branch banking offices in the California cities of Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2 branches), Diamond Bar, Pico Rivera, Tarzana and San Francisco (2 branches) and two branches in New York (Flushing and Manhattan) and one branch in the Houston suburb of Sugar Land, Texas. Additionally, the Bank operates a Loan Production Office in Sunnyvale, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The Bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to California of ethnic Chinese from China and other areas of East Asia. AT THE COMPANY: AT FINANCIAL PROFILES: Edward J. Czajka Jeffrey Haas Executive Vice President General Information Chief Financial Officer (310) 622-8240 (213) 891-1188 PFBC@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data