Dividends and Basic Earnings Per Common Share

3 Months Ended

Mar. 31, 2019

Dividends and Basic Earnings Per Common Share [Abstract]

Dividends and Basic Earnings Per Common Share

6. Dividends and Basic Earnings Per Common Share

Farmers & Merchants Bancorp common stock is not traded on any exchange. The shares are primarily held by local residents and are not actively traded. No cash dividends were declared during the first quarter of 2019 or 2018.

Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. The Company has no securities or other contracts, such as stock options, that could require the issuance of common stock. Accordingly, diluted earnings per share is the same amount as basic earnings per share. The following table calculates the basic earnings per common share for the three months ended March 31, 2019 and 2018.

(net income in thousands)	2019		2018
Net Income	$	13,549	$	9,941
Weighted Average Number of Common Shares Outstanding		784,438		812,304
Basic Earnings Per Common Share Amount	$	17.27	$	12.24