Elizabeth Park Capital Advisors’s Farmers & Merchants Bancorp FMAO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q2	–	Sell	-17,774	Closed	-$231K	–	62
2015 Q1	$231K	Sell	17,774 -40,000	-69%	-$520K	0.08%	59
2014 Q4	$772K	Hold	57,774	–	–	0.27%	59
2014 Q3	$737K	Buy	57,774 +27,790	+93%	+$355K	0.27%	57
2014 Q2	$367K	Buy	+29,984	New	+$367K	0.16%	57