Farmers & Merchants Bancorp extends share repurchase program, adds $25M authorization through 2024

FARMERS & MERCHANTS BANCORP

Existing repurchase program extended through December 31, 2024 with an additional $25 million authorized.
Since November 2022, company repurchased and retired 17,126 shares (2.23% of shares outstanding as of Nov 30, 2022).
Since January 2021, total reduction of 38,551 shares (4.88% of shares outstanding) through October 31, 2023.
Capital ratios remain well capitalized: tier 1 leverage 10.22%, CET1 12.48%, total capital 13.97% as of Sept 30, 2023.

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