FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

Fourthstone LLC's Holding History (CIK: 0001767803)

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

Q1 2022

Shares 60,185 Value ($000) $2,176 Avg Close $29.08 Range $26.65 - $32.70

Q4 2021

Shares 181,062 Value ($000) $5,944 Avg Close $23.61 Range $19.43 - $28.77

Q3 2021

Shares 266,791 Value ($000) $5,977 Avg Close $19.27 Range $18.30 - $20.36

Q2 2021

Shares 195,256 Value ($000) $4,247 Avg Close $19.47 Range $18.16 - $21.84

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2022	60,185	$2,176	$29.08	$26.65 - $32.70
Q4 2021	181,062	$5,944	$23.61	$19.43 - $28.77
Q3 2021	266,791	$5,977	$19.27	$18.30 - $20.36
Q2 2021	195,256	$4,247	$19.47	$18.16 - $21.84