Dividends and Basic Earnings Per Common Share

3 Months Ended

Mar. 31, 2020

Dividends and Basic Earnings Per Common Share [Abstract]

Dividends and Basic Earnings Per Common Share

8. 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. However, trades are reported on the OTCQX under the symbol “FMCB.” No cash dividends were declared during the first quarter of 2020 or 2019.

Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. There are no common stock equivalent shares. Therefore, there is no presentation of diluted basic earnings per common share. The following table calculates the basic earnings per common share for the three months ended March 31, 2020 and 2019.

(net income in thousands)	2020		2019
Net Income	$	14,122	$	13,549
Weighted Average Number of Common Shares Outstanding		793,504		784,438
Basic and Diluted Earnings Per Common Share	$	17.80	$	17.27