Farmers & Merchants Bancorp authorizes $55M share buyback, replaces $25M program

FARMERS & MERCHANTS BANCORP

New $55M share repurchase program approved, effective immediately, expires Dec 31, 2026.
Existing $25M program terminated; since Jan 2021 repurchased 51,596 shares (~6.5% of outstanding).
Capital ratios as of June 30: tier 1 leverage 10.66%, CET1 13.09%, total capital 14.58% – well capitalized.
Repurchases to fund non-qualified retirement plans or be returned to authorized but unissued shares.

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