EXHIBIT 99.1

                           FARMERS & MERCHANTS BANCORP
                             DECLARES CASH DIVIDEND

The  Board  of Directors of Farmers & Merchants Bancorp recently declared a cash
dividend  of $4.50 per share, an increase from the $4.40 per share declared last
year.  The  cash  dividend  will  be paid on January 3, 2006, to stockholders of
record  on  December 16, 2005.  Total cash dividends declared during the past 12
months were $6,366,037 or $7.70 per share of common stock, an increase of 11.25%
from the $5,722,207 in dividends paid in 2004. This is the 71st consecutive year
that  the  Company  has  declared cash dividend payments to common shareholders.

"Farmers  &  Merchants  Bank's  strong  third  quarter  financial  performance
represented  the  31st  consecutive  quarter  that  net income exceeded the same
quarter  the  prior  year.  Management  and the Board of Directors are extremely
pleased  with  year-to-date  results  and unanimously approved the cash dividend
with  an  increase over the prior year. This is the eighth consecutive year that
the  year-end  cash  dividend  has  been  increased" said Kent A. Steinwert, the
Bank's  President  and  Chief  Executive  Officer.

In  October,  the Company reported record third quarter net income of $4,224,000
or  $5.74  per  share of common stock which represents a 13.4% increase over the
same  period  in  2004.  In  addition,  loans outstanding grew 12.2%, total core
deposits  increased  6.2%,  and  total  assets  were  $1.27 billion up 7.2% over
September  2004.  Return  on Average Assets for the quarter was 1.50%. Return on
Average  Equity  for  the  quarter,  improved  by  76  basis points to 15.73% in
comparison  to  the  prior  year.

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.