Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


          Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers.

Farmers & Merchants Bancorp (OTCQX: FMCB) today announced that Stephen W. Haley, Executive Vice President and Chief Financial Officer, will be retiring effective June 30, 2023.

"On behalf of the entire team at FMCB and the Board of Directors, I want to thank Steve for his leadership and dedication to our company," said Kent A. Steinwert, Chairman, President and Chief Executive Officer of FMCB. "During his time with the Company, Steve has been vital to the development and successful execution of our business strategies, including the important role he played helping the organization grow to over $5.0 billion in assets."

The Company also announced that Bart R. Olson will join the Company as its Executive Vice President and Chief Financial Officer effective March 27, 2023. Mr. Olson is a seasoned financial professional who began his career in the public accounting profession, and was a financial institutions audit Partner for nine years at KPMG. After leaving KPMG he held senior level financial positions, including Chief Financial Officer, at several financial institutions. Bart will work closely with Steve Haley until June 30th to ensure a seamless transition.

"As we continue to expand our organization, it's important that we add highly accomplished, talented, and experienced people to our executive leadership team. Mr. Olson brings to the Company a breadth of experience in financial accounting, financial operations and risk management, that will enrich the management team, while enabling us to execute successfully on our objectives in 2023 and beyond," stated Mr. Steinwert.

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