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8-K - FORM 8-K - FARMERS & MERCHANTS BANCORP INC | k49983e8vk.htm |
Exhibit 99
Company Press Release dated January 21, 2011
FARMERS & MERCHANTS BANCORP, INC.
NEWS
RELEASE
RELEASE
FOR IMMEDIATE RELEASE
|
CONTACT: | |
January 21, 2011
|
Marty Filogamo | |
Marketing Director | ||
(419) 446-2501 |
Farmers & Merchants Bancorp, Inc. Authorizes Stock Repurchase
ARCHBOLD, OHIO, January 21, 2011 Farmers & Merchants Bancorp, Inc. (OTC Bulletin Board:
FMAO) (the Company) announced today that its Board of Directors has authorized the repurchase of
up to 200,000 shares (approximately 4.26%) of its outstanding shares of common stock commencing
January 21, 2011 and ending December 31, 2011.
The stock repurchase plan authorizes the Company to make repurchases from time to time in the open
market or in privately negotiated transactions at times and in such amounts as management deems
appropriate. The Companys shares are traded on the OTC Bulletin Board under the symbol FMAO. The
timing and actual number of shares repurchased will depend on a variety of factors including price,
corporate and regulatory requirements and other market conditions. Repurchased common shares will
be added to the Companys treasury shares, and will be used for general corporate purposes. At
January 21, 2011, the Company had 4,693,969 shares of common stock outstanding.
In adopting the repurchase plan, the Board of Directors expressed confidence in the Companys
performance, noted that the Company has sufficient capital available to internally fund such
repurchases and stated its belief that such repurchases can enhance shareholder value.
ABOUT FARMERS & MERCHANTS BANCORP, INC.
With
assets of approximately $905 million as of December 31, 2010, Farmers & Merchants Bancorp,
Inc. is a bank holding company, whose banking subsidiary The Farmers & Merchants State Bank
provides commercial banking, retail banking and other financial services through its 19 offices
with locations in Defiance, Fulton, Henry, Williams, & Wood counties of Northwest Ohio. In
Northeast Indiana they have offices located in DeKalb and Steuben counties.
SAFE HARBOR STATEMENT
Farmers & Merchants Bancorp, Inc. (the Company) wishes to take advantage of the Safe Harbor
provisions included in the Private Securities Litigation Reform Act of 1995. Statements by the
Company, including managements expectations and comments, may not be based on historical facts and
are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
as amended and Section 21B of the Securities Act of 1934, as amended. Actual results could vary
materially depending on risks and uncertainties inherent in general and local banking conditions,
competitive factors specific to markets in which the Company and its subsidiaries operate, future
interest rate levels, legislative and regulatory decisions or capital market conditions. The
Company assumes no responsibility to update this information. For more details, please refer to the
Companys SEC filings, including its most recent Annual Report on Form 10-K and quarterly reports
on Form 10-Q.