FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

Hillsdale Investment Management Inc.'s Holding History (CIK: 0001368465)

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

Q3 2022

Shares 2,400 Value ($000) $64 Avg Close $26.33 Range $22.66 - $29.87

Q2 2022

Shares 25,800 Value ($000) $857 Avg Close $32.71 Range $28.14 - $36.97

Q1 2022

Shares 25,400 Value ($000) $918 Avg Close $29.08 Range $26.65 - $32.70

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2022	2,400	$64	$26.33	$22.66 - $29.87
Q2 2022	25,800	$857	$32.71	$28.14 - $36.97
Q1 2022	25,400	$918	$29.08	$26.65 - $32.70