Dividends and Basic Earnings Per Common Share

6 Months Ended

Jun. 30, 2018

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 8, 2018, the Board of Directors declared a mid-year cash dividend of $6.90 per share, a 2.2% increase over the $6.75 per share paid on July 1, 2017. The cash dividend was paid on July 2, 2018, to shareholders of record on June 8, 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 are not presented. The following table calculates the basic earnings per common share for the three and six months ended June 30, 2018 and 2017.

	Three Months Ended June 30,				Six Months Ended June 30,
(net income in thousands)	2018		2017		2018		2017
Net Income	$	10,550	$	8,187	$	20,491	$	16,008
Weighted Average Number of Common Shares Outstanding		817,893		808,704		815,114		808,347
Basic Earnings Per Common Share Amount	$	12.90	$	10.12	$	25.14	$	19.80