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

Farmers and Merchants Bancshares, Inc. announced a 5.9% increase in its cash dividend to $0.36 per share on May 18, 2026. The dividend will be paid on June 18, 2026 to stockholders of record on June 2, 2026, representing an annualized payout ratio of 33%. The company, parent of Farmers and Merchants Bank chartered in Maryland in 1919, operates eight branches across Carroll and Baltimore Counties.