FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

PANAGORA ASSET MANAGEMENT INC's Holding History (CIK: 0000883677)

Note: Option positions (PUT/CALL) are excluded.

Q2 2018

Shares 507 Value ($000) $20 Avg Close $33.65 Range $30.96 - $39.84

Q1 2018

Shares 507 Value ($000) $20 Avg Close $31.01 Range $27.50 - $34.16

Q4 2017

Shares 507 Value ($000) $21 Avg Close $31.15 Range $27.30 - $34.85

Q3 2017

Shares 524 Value ($000) $19 Avg Close $25.60 Range $21.35 - $34.64

Q2 2017

Shares 318 Value ($000) $20 Avg Close $19.64 Range $16.49 - $25.45

Q1 2017

Shares 318 Value ($000) $13 Avg Close $15.35 Range $13.57 - $19.14

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2018	507	$20	$33.65	$30.96 - $39.84
Q1 2018	507	$20	$31.01	$27.50 - $34.16
Q4 2017	507	$21	$31.15	$27.30 - $34.85
Q3 2017	524	$19	$25.60	$21.35 - $34.64
Q2 2017	318	$20	$19.64	$16.49 - $25.45
Q1 2017	318	$13	$15.35	$13.57 - $19.14