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,  2006.  The results represented THE 33RD CONSECUTIVE
QUARTER  that  Farmers  & Merchants Bancorp's net income increased over the same
period  the  prior  year.

Farmers  &  Merchants  Bancorp reported net income of $4,937,000 for the quarter
ending  March  31,  2006. Earnings per share of common stock outstanding for the
first  quarter were $6.00, up 12.6% from the first quarter of the prior year. In
addition,  loans  outstanding  grew 11.8%, total core deposits, excluding public
deposits,  increased  8.0%, and total average assets were $1,329,923,000 up 9.4%
over  the  first  quarter  of 2005. Return on average assets for the quarter was
1.48%,  and  return  on  average  equity  was 15.82%, an improvement of 78 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, 2006 totaling
only  0.04%  of  loans.  In addition, the Company's loan loss reserve is 1.9% of
loans.

Steinwert stated, "The Board of Directors and Senior Management are pleased with
the Company's continuing earnings growth. Our performance remains on target with
the  Company's  5-year  plan,  and  we  continue to express our support for, and
confidence  in, the communities we serve by expanding the Bank's branch network.
Our  new  branch on March Lane in Stockton will be opening this summer, followed
by  new  branches  in  Lodi  and  Turlock."

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  19  branch  offices  conveniently  located  from Sacramento to Turlock.

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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.