FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

Mendel Money Management's Holding History (CIK: 0001600585)

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

Q4 2025

Shares 127,553 Value ($000) $3,153 Avg Close $24.70 Range $22.57 - $28.14

Q3 2025

Shares 136,653 Value ($000) $3,418 Avg Close $25.30 Range $22.50 - $27.73

Q2 2025

Shares 138,253 Value ($000) $3,495 Avg Close $23.36 Range $20.34 - $26.26

Q1 2025

Shares 139,688 Value ($000) $3,340 Avg Close $24.80 Range $21.86 - $28.80

Q4 2024

Shares 141,378 Value ($000) $4,164 Avg Close $28.62 Range $24.26 - $32.69

Q3 2024

Shares 149,288 Value ($000) $4,128 Avg Close $24.40 Range $19.82 - $27.29

Q2 2024

Shares 148,203 Value ($000) $3,441 Avg Close $20.32 Range $18.47 - $23.48

Q1 2024

Shares 144,753 Value ($000) $3,227 Avg Close $20.12 Range $17.68 - $23.54

Q4 2023

Shares 103,833 Value ($000) $2,575 Avg Close $18.30 Range $15.52 - $25.81

Q3 2023

Shares 93,725 Value ($000) $1,643 Avg Close $18.51 Range $15.55 - $22.58

Q2 2023

Shares 93,400 Value ($000) $2,102 Avg Close $19.87 Range $16.05 - $22.71

Q1 2023

Shares 89,055 Value ($000) $2,166 Avg Close $23.52 Range $19.41 - $27.30

Q4 2022

Shares 14,725 Value ($000) $400 Avg Close $25.06 Range $22.39 - $27.41

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	127,553	$3,153	$24.70	$22.57 - $28.14
Q3 2025	136,653	$3,418	$25.30	$22.50 - $27.73
Q2 2025	138,253	$3,495	$23.36	$20.34 - $26.26
Q1 2025	139,688	$3,340	$24.80	$21.86 - $28.80
Q4 2024	141,378	$4,164	$28.62	$24.26 - $32.69
Q3 2024	149,288	$4,128	$24.40	$19.82 - $27.29
Q2 2024	148,203	$3,441	$20.32	$18.47 - $23.48
Q1 2024	144,753	$3,227	$20.12	$17.68 - $23.54
Q4 2023	103,833	$2,575	$18.30	$15.52 - $25.81
Q3 2023	93,725	$1,643	$18.51	$15.55 - $22.58
Q2 2023	93,400	$2,102	$19.87	$16.05 - $22.71
Q1 2023	89,055	$2,166	$23.52	$19.41 - $27.30
Q4 2022	14,725	$400	$25.06	$22.39 - $27.41