Exhibit 99
Farmers & Merchants Bancorp Announces an
Increase in the Mid-Year Cash Dividend
The Board of Directors of Farmers & Merchants Bancorp declared a mid-year cash dividend of $6.40 per share, an increase over the $6.30 per share declared in May of 2014. The cash dividend will be paid on July 1, 2015, to shareholders of record on June 9, 2015. Kent Steinwert, Chairman, President and CEO noted, “The Board is pleased with the Company’s full year 2014 and first quarter 2015 financial results and unanimously approved the cash dividend. This is the seventeenth consecutive year that Farmers & Merchants Bancorp increased the mid-year cash dividend, and the 80th consecutive year cash dividends have been paid.”
Farmers & Merchants Bancorp earned record net income for the quarter ending March 31, 2015. Earnings per share of common stock outstanding for the first quarter were $8.15, up from the first quarter of the prior year. Return on average equity was 10.76%.
Steinwert continued, “We are pleased with the Company’s first quarter 2015 financial performance, despite continuing pressures on the industry’s net interest margin. Additionally, at March 31, 2015 the Company’s total capital ratio was 13.25%, and non-performing loans totaled only 0.14% of total loans, both measures compare favorably to other banks in our geographic region.”
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Farmers & Merchants Bancorp is the parent of Farmers & Merchants Bank of Central California, also known as F&M Bank. Founded in 1916, F&M Bank is a locally owned and operated community bank which proudly serves California through 25 convenient locations. The Bank has recently expanded into the San Francisco Bay Area and Orange County with new full service branches in Walnut Creek, Concord and Irvine. F&M Bank offers a full complement of loan, deposit, equipment leasing, and treasury management services to both businesses and consumers, and has received BauerFinancial’s coveted “Five-Star, Superior Bank” award, for safety and security for over 23 consecutive years, longer than any other commercial bank in the State of California. For more information about Farmers & Merchants Bancorp and F&M Bank visit www.fmbonline.com.
Forward Looking Statements
Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, levels of net interest margin, the ability to control costs and expenses, interest rate changes and financial and regulatory policies of the United States government and general economic conditions. Additional information on these and other factors that could affect financial results are included in our Securities and Exchange Commission filings. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments.