EXHIBIT 99

                           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,  2007.  The results represented THE 37TH CONSECUTIVE
QUARTER  that  Farmers  & Merchants Bancorp's net income increased over the same
period  the  prior  year.

Farmers  &  Merchants  Bancorp reported net income of $5,469,000 for the quarter
ending  March  31,  2007. Earnings per share of common stock outstanding for the
first  quarter were $6.74, up 12.3% from the first quarter of the prior year. In
addition,  loans  outstanding  grew 10.5%, total core deposits, excluding public
time  deposits,  increased  8.5%, and total average assets were $1.42 billion up
6.5%  over  the  first quarter of 2006. Return on average assets for the quarter
was  1.54%,  and return on average equity was 16.30%, an improvement of 48 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, 2007 totaling
only  0.02%  of  loans.  In addition, the Company's loan loss reserve is 1.7% of
loans.

Steinwert  stated,  "We  are  extremely  pleased with the first quarter results,
particularly  given  the  difficult  environment that continues to exist for all
banks.  The  combination  of:  (1) a prolonged flat or inverted yield curve that
places  pressures  on  loan  and  investment  yields;  and  (2)  a  slowdown  in
industry-wide  deposit  growth that increases liability costs, continues to hurt
most  banks'  net  interest  margins.  Farmers  &  Merchants Bancorp's financial
performance  in  the  first quarter was a result of our ability to achieve asset
growth  objectives while maintaining reasonable liability pricing. However, as a
result  of  these  industry  and  economic  trends  our  net  interest margin is
continuing  to  come  under  pressure,  and  we anticipate that the next several
quarters  will  be  challenging  ones  for  the  Company.  Accordingly,  our top
priorities  remain:  (1)  expanding our core deposit base in order to fund asset
growth  in  the  most  profitable  and  sustainable  manner;  and  (2) improving
operational  efficiency  in  order  to  deliver  products  and  services  more
economically  while  maintaining  a  high  level  of  customer  service."


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 21 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.