Exhibit 99.1
                           FARMERS & MERCHANTS BANCORP
                      REPORTS RECORD FIRST QUARTER EARNINGS


Kent A. Steinwert, President and Chief Executive Officer of Farmers & Merchants
Bancorp, announced that the Company earned record net income for the first
quarter ending March 31, 2005. The results represented the 29th consecutive
quarter that Farmers & Merchants Bancorp's net income increased over the same
period the prior year.

Farmers & Merchants Bancorp reported record net income of $4,431,000 for the
quarter ending March 31, 2005. Earnings per share of common stock outstanding
for the first quarter were $5.59, up 14.6% from the first quarter of the prior
year. In addition, loans outstanding grew 7.5%, total core deposits, excluding
time deposits, increased 14.4%, and total average assets were $1,215,955,000 up
7.3% over the first quarter of 2004. Return on average assets for the quarter
was 1.46%, and return on average equity was 15.04%, an improvement of 97 basis
points over the first quarter of the prior year. The Company's loan quality has
remained extremely high with non-performing assets as of March 31, 2005 totaling
only 0.06% of loans. In addition, the Company's loan loss reserve remains strong
at 2.07% of loans.

Steinwert further stated, "The strength of the economy in our market area, along
with the positive impact of rising interest rates on the bank's net interest
margin, have helped us to deliver continuing earnings growth. Furthermore, we
remain positive about the future economic growth prospects in the markets we
serve, and are committed to expanding our branch network in order to better
serve our existing customers and attract new customers resulting from the
population growth that is occurring in the Central Valley of California."

Farmers & Merchants Bancorp is the parent of Farmers & Merchants Bank of Central
California, also known as F&M Bank. Founded in 1916, the institution is a full
service community bank and proudly serves California's Great Central Valley
through 18 branch offices conveniently located from Sacramento to Turlock.

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, expanded net interest margin, the ability to control costs and
expenses, interest rate changes and financial 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.