8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                                  July 27, 2006
                                  -------------
                        (Date of earliest event reported)

                           Farmers & Merchants Bancorp
                           ---------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
                                    --------
                 (State or other jurisdiction of incorporation)


          000 - 26099                                   94-3327828
          -----------                                   ----------
     (Commission File Number)                (IRS Employer Identification No.)


             111 West Pine Street, Lodi, California        95240
             ---------------------------------------------------
          (Address of principal executive offices)       (Zip Code)


                                 (209) 367-2300
                                 --------------
              (Registrant's telephone number, including area code)


                                 Not Applicable
                                 --------------
          (Former name or former address, if changes since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)
[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)
[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))
[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(C))



Item 2.02  Results of Operations and Financial Condition
           ---------------------------------------------

     On July 27, 2006, Farmers & Merchants Bancorp issued a press release
concerning financial results for the second quarter of 2006, a copy of which is
included as Exhibit 99.1 and incorporated herein by reference.

Item 9.01  Financial Statements and Exhibits
           ---------------------------------

(c)  Exhibits:

     99.1  Press release concerning financial results for the second quarter of
           2006.


                                    SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        FARMERS & MERCHANTS BANCORP


                                        By   /s/Stephen W. Haley

                                             Stephen W. Haley
                                             Executive Vice President
                                             & Chief Financial Officer


Date:  July 28, 2006

EX-99.1

                                                                    EXHIBIT 99.1

                           FARMERS & MERCHANTS BANCORP
                     REPORTS RECORD SECOND QUARTER EARNINGS

Kent  A. Steinwert, President and Chief Executive Officer of Farmers & Merchants
Bancorp,  announced  that  the  Company  earned record net income for the second
quarter  ending  June  30,  2006.  The  results represented THE 34TH CONSECUTIVE
QUARTER  that  Farmers  & Merchants Bancorp's net income increased over the same
period  the  prior  year.

Farmers  &  Merchants  Bancorp reported net income of $5,094,000 for the quarter
ending  June  30,  2006.  Earnings per share of common stock outstanding for the
second  quarter  were $6.22, up 12.7% from the second quarter of the prior year.
In addition, loans outstanding grew 11.5%, total core deposits, excluding public
time  deposits,  increased 8.2%, and total average assets were $1,348,812,000 up
7.9%  over  the second quarter of 2005. Return on average assets for the quarter
was  1.51%,  and return on average equity was 16.06%, an improvement of 89 basis
points over the second quarter of the prior year. The Company's loan quality has
remained  extremely high with non-performing assets as of June 30, 2006 totaling
only  0.01%  of  loans.  In addition, the Company's loan loss reserve is 1.8% of
loans.

For  the  six  month  period ending June 30, 2006 net income was $10,031,000 and
earnings per share of common stock outstanding were $12.22, an increase of 12.6%
over  the  prior year. As a result of rising market interest rates over the past
year,  the  Bank's  net  interest  margin  increased to 5.29% for the six months
ending  June  30,  2006  as  compared to 5.05% for the six months ended June 30,
2005.

Steinwert  stated,  "In  the  face  of  increasing industry-wide pressure on net
interest  margins,  the  Bank  is focusing its efforts on expanding high quality
customer relationships; introducing new fee based products; pursuing operational
efficiencies  and  continuing to implement our branch expansion plan. Management
believes that the success of these efforts will be the key to continued earnings
growth  throughout  the  remainder  of  2006  and  into  2007."



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.