Farmers & Merchants Bancorp (FMCB) Announces Resignation of Longtime Board Member

LODI, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) announced today that Calvin (“Kelly”) Suess, the Company’s longest serving current member of the Board of Directors, has tendered his resignation effective at the next Board of Directors Meeting to be held on January 14, 2025 after having served on the board for 35 years.

"On behalf of the entire team at FMCB and the Board of Directors, I want to thank Kelly for his board leadership, vision, strategic guidance, and numerous other contributions to our company over the last 35 years,” said Kent A. Steinwert, Chairman, President and Chief Executive Officer of FMCB. “During his time with the company, Kelly brought his agricultural expertise and agri-business connections to the Bank and has contributed so much of his time and business acumen while being a constant and valuable member of our board helping drive and oversee the growth and success of the company. Kelly was instrumental in creating a strong community reinvestment culture within the Bank which has resulted in the Bank receiving numerous awards along with an outstanding rating from our regulators. I also want to personally thank Kelly for being a trusted advisor to me and true business partner and mentor to our management team. We all wish him the very best in the future.”

As part of normal succession planning and preparation, the Board’s nominating committee is in the final stages of appointing a new member to the Board of Directors and expects to make an announcement before the end of January 2025. The new board member will then be up for a shareholder approval vote at the 2025 annual shareholders meeting.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, trades on the OTCQX under the symbol FMCB, and is the parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank. Founded in 1916, F&M Bank is a locally owned and operated community bank, which proudly serves California through 33 convenient locations. F&M Bank is financially strong, with $5.4 billion in assets, and is consistently recognized as one of the nation's safest banks by national bank rating firms. The Bank has maintained a 5-Star rating from BauerFinancial for 34 consecutive years, longer than any other commercial bank in the State of California.