MERCHANTS BANCSHARES

CUSIP: 588448100 Class: COM

Hanson & Doremus Investment Management's Holding History (CIK: 0001393944)

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

Q1 2017
Shares 8,922 Value ($000) $435 Avg Close — Range —
Q4 2016
Shares 9,222 Value ($000) $499,832 Avg Close — Range —
Q3 2016
Shares 9,222 Value ($000) $299 Avg Close — Range —
Q2 2016
Shares 9,372 Value ($000) $286 Avg Close — Range —
Q1 2016
Shares 9,372 Value ($000) $279 Avg Close — Range —
Q4 2015
Shares 9,372 Value ($000) $295 Avg Close — Range —
Q3 2015
Shares 9,372 Value ($000) $276 Avg Close — Range —
Q2 2015
Shares 9,022 Value ($000) $298 Avg Close — Range —
Q1 2015
Shares 9,372 Value ($000) $273 Avg Close — Range —
Q4 2014
Shares 9,722 Value ($000) $298 Avg Close — Range —
Q3 2014
Shares 9,722 Value ($000) $274 Avg Close — Range —
Q2 2014
Shares 9,722 Value ($000) $311 Avg Close — Range —
Q1 2014
Shares 9,722 Value ($000) $317 Avg Close — Range —
Q4 2013
Shares 9,722 Value ($000) $326 Avg Close — Range —
Q3 2013
Shares 9,722 Value ($000) $281 Avg Close — Range —
Q2 2013
Shares 9,722 Value ($000) $287 Avg Close — Range —