Company: FMFG
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001437749-25-018314
Chunk: 35

Company: Farmers & Merchants Bancshares, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 35
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='center'>PROSPECTUS

FARMERS AND MERCHANTS BANCSHARES, INC.

DIVIDEND REINVESTMENT PLAN

PART II

INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 13. Other Expenses of Issuance and Distribution.

The following table itemizes the expenses incurred by Farmers and Merchants Bancshares, Inc. (the “Company”) in connection with the offering of the securities being registered hereby. All amounts shown are estimates.

| Registration Fee - Securities and Exchange Commission |     | $ |  1,246 |
| Blue Sky Fees                                         |     |   |  1,200 |
| Accounting Fees and Expenses                          |     |   | 12,500 |
| Legal Fees and Expenses                               |     |   | 15,000 |
| Printing Fees and Expenses                            |     |   |  5,000 |
| Total                                                 |     | $ | 34,946 |

Item 14. Indemnification of Directors and Officers.

The Maryland General Corporation Law (the “MGCL”) permits a Maryland corporation to indemnify its present and former directors, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made a party by reason of their services in those capacities, unless it is established that:

| (1) | the act or omission of the director was material to the matter giving rise to such proceeding and |

| (A) | was committed in bad faith or |

| (B) | was the result of active and deliberate dishonesty; |

| (2) | the director actually received an improper personal benefit in money, property, or services; or |

| (3) | in the case of any criminal proceeding, the director had reasonable cause to believe that the act or omission was unlawful. |

Maryland law permits a Maryland corporation to indemnify a present and former officer to the same extent as a director.

In addition to the foregoing, a court of appropriate jurisdiction: (1) shall order indemnification of reasonable expenses incurred by a director who has been successful, on the merits or otherwise, in the defense of any proceeding identified above, or in the defense of any claim, issue or matter in the proceeding; and (2) may under certain circumstances order indemnification of a director or an officer who the court determines is fairly and reasonably entitled to indemnification in view of all of the relevant circumstances, whether or not the