FARMERS AND MERCHANTS BANCSHARES, INC. INCREASES ITS CASH DIVIDEND BY 5.9% TO $0.36 PER SHARE

HAMPSTEAD, Md., May 19, 2026 (GLOBE NEWSWIRE) -- On May 18, 2026, the Board of Directors of Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), declared a cash dividend on the common stock of $0.36 per share, which will be paid on June 18, 2026 to stockholders of record on June 2, 2026. The $0.36 dividend represents a 5.9% increase over the dividend paid in December and an annualized payout ratio of 33%.

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About Farmers and Merchants Bancshares, Inc.

The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTCID Basic Market under the symbol “FMFG”.

FOR FURTHER INFORMATION CONTACT:

Farmers and Merchants Bancshares, Inc.	Mr. Gary A. Harris
4510 Lower Beckleysville Rd, Suite H	President & CEO
Hampstead, Maryland 21074	[phone], Ext. 1104