EXHIBIT 99


                     FARMERS & MERCHANTS BANCORP ANNOUNCES A
                         16.0% INCREASE IN THE MID-YEAR
                             CASH DIVIDEND PER SHARE


The  Board  of Directors of Farmers & Merchants Bancorp declared a mid-year cash
dividend  of  $4.35 per share, a 16.0% increase over the $3.75 per share paid in
June of 2006. The cash dividend will be paid on July 1, 2007, to shareholders of
record on June 5, 2007. The total mid-year 2007 cash dividend will be $3,531,000
compared  to  $3,070,000  paid in 2006. Kent Steinwert, President and CEO noted,
"Farmers  &  Merchants  Bancorp's  strong  first  quarter  financial performance
represented  the  37th  consecutive  quarter  that  net income exceeded the same
quarter  the  prior  year.  Management  and the Board are extremely pleased with
year-to-date results, and the Board unanimously approved the cash dividend. This
is  the  tenth  consecutive  year  that  the  mid-year  cash  dividend  has been
increased."

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.

Farmers & Merchants Bancorp is the parent of Farmers & Merchants Bank of Central
California, also known as F&M Bank. Founded in 1916, Farmers & Merchants Bank is
a full service community bank with over $1.4 billion in assets. F&M Bank proudly
serves  California's Great Central Valley through 21 branch offices conveniently
located  from  Sacramento  to  Turlock.