Dividends and Basic Earnings Per Common Share

9 Months Ended

Sep. 30, 2017

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. On May 9, 2017, the Board of Directors of Farmers & Merchants Bancorp announced a mid-year cash dividend of $6.75 per share, a 3.1% increase over the $6.55 per share paid on July 1, 2016. The cash dividend was paid on July 1, 2017, to shareholders of record on June 9, 2017.

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 are not presented. The following table calculates the basic earnings per common share for the three and nine months ended September 30, 2017 and 2016.

	Three Months Ended September 30,				Nine Months Ended September 30,
(net income in thousands)	2017		2016		2017		2016
Net Income	$	8,581	$	7,538	$	24,589	$	22,042
Weighted Average Number of Common Shares Outstanding		810,291		792,387		809,002		792,223
Basic Earnings Per Common Share Amount	$	10.59	$	9.51	$	30.39	$	27.82