FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

State of Alaska, Department of Revenue's Holding History (CIK: 0001370102)

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

Q4 2025

Shares 423 Value ($000) $0 Avg Close $24.70 Range $22.57 - $28.14

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	423	$0	$24.70	$22.57 - $28.14