Farmers & Merchants Bancorp (FMCB) Increases Cash Dividend for the 59th Consecutive Year

LODI, Calif., May 15, 2024 (GLOBE NEWSWIRE) — Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), the Board of Directors declared a mid-year cash dividend of $8.80 per share, an increase of 6.0% over the $8.30 per share paid in July of 2023. The cash dividend is payable on July 1, 2024, to shareholders of record on June 11, 2024. The Company’s trailing twelve months net income through the 1^st quarter of 2024 was $116.37 per share, up 10.15% compared with $105.65 per share over the same period a year earlier. During the first quarter, the Company continued to concentrate the shareholders’ ownership percentage by repurchasing and retiring 5,201 shares, or approximately 21.6% of the board approved share repurchase plan and 0.70% of shares outstanding as of the beginning of the first quarter.

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