Exhibit 99.1


                           FARMERS & MERCHANTS BANCORP
                             DECLARES CASH DIVIDEND

The Board of Directors of Farmers & Merchants Bancorp recently declared a cash
dividend of $3.20 per share, a 14.3% increase from the $2.80 per share paid in
July 2004. The cash dividend will be paid on June 30, 2005, to stockholders of
record on June 17, 2005. The total mid-year 2005 cash dividend payment of
$2,659,158.40 is an increase of 19% over the prior year.

"Farmers & Merchants Bank's strong first quarter financial performance
represented the 29th 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 mid-year cash dividend has been increased," said Kent A. Steinwert,
President and Chief Executive Officer.

In April, Farmers & Merchants Bancorp reported record first quarter net income
of $4,431,000 or $5.59 per share of common stock which represents a 14.6%
increase over the same period in 2004. In addition, loans outstanding grew 7.5%,
total core deposits, excluding time deposits, increased 14.4%, and total assets
were $1,221,578,000 up 8.9% over March 2004. Return on Average Assets for the
quarter continued to strengthen and was 1.46% up from 1.38% for the same quarter
in 2004. Return on Average Equity for the quarter improved by 97 basis points to
15.0% 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 with over $1.2 billion in assets. F&M Bank proudly serves
California's Great Central Valley through 19 branch offices conveniently located
from Sacramento to Turlock.