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News from F&M Bank
January 27, 2010
Marlar chose mortgage lending as a career following a bad experiences associated with purchasing his first home. “When I signed the papers at closing, I knew no more than before I had started the home buying process,” recalls Marlar. “I have made it my priority to make sure that each client understands all the facts related to their mortgage, empowering them to make decisions that will benefit them for the term of their loan. Eleven years and 1,000 clients later, I’m confident that I made a smart career choice.” “Sumner County’s proximity to Nashville has contributed to a population and residential boom in this area,” states Rick Lott, vice president and regional manager of F&M’s mortgage operation in Hendersonville. “The demand for mortgage loans in this community continues to rise and F&M is expanding our mortgage department to meet that demand. Mortgage rates are still at historic lows. When you add that to a marketplace steeped with motivated sellers, this continues to be a great time and place to buy a home. We are pleased to add a dynamic lender like Stan to the F&M team.” Marlar can be reached at F&M Mortgage by calling 615-828-2625. November 3, 2009 CLARKSVILLE, Tenn. — F&M Bank has been named for the second year in a row to the list of Hot100 companies to watch in Tennessee by BusinessTN magazine. The 103-year old F&M ranks as one of the state’s top 15 independent banks. With assets exceeding $750 million, F&M Bank operates offices in Montgomery, Rutherford, Wilson, Sumner, Putnam, Robertson and Stewart counties. "Being recognized by BusinessTN as one of the 2009 Hot100 companies in the state is evidence that many businesses and individuals continue to be drawn to F&M’s longstanding tenure in Middle Tennessee, our financial stability and the unique brand of community banking we offer,” remarked Sammy Stuard, F&M president and CEO. “People are finding lots of reasons to migrate back to community banks — trust, accessibility and a feeling that they are more than just an account number,” he continued. “F&M has worked hard to roll-out meaningful new products and keep our banking technology current. Consumers realize that there are negligible benefits associated with the larger banks that have been the subject of so much negative financial news. I am pleased to share this honor with the 220 F&M employees who are crucial to our success." The Hot100 list is described by BusinessTN as an annual look at companies who represent the best that Tennessee has to offer in terms of entrepreneurial vision and growth. According to the publication, selection of the Hot 100 is based on numerous factors such as revenue, employee growth, growth over a period of years, growth as compared to industry average and projected growth. In compiling the Hot 100 list, BusinessTN spotlights companies that are enriching local and regional economies, providing jobs, and contributing to Tennessee's entrepreneurial culture. For more information visit http://businesstn.com/content/200911/2009-ibusinesstni-hot100. October 30, 2009 CLARKSVILLE, Tenn. — According to reports just issued by the FDIC, F&M Bank has maintained its number one ranking for total deposits in Montgomery County for the sixth year in a row. F&M increased its market share in Montgomery County to 19.52% of total deposits, an increase of .56% over last year. According to the 2009 FDIC reports of deposits through June 30, 2009, Regions Bank ranked number two with 13.43%, while Legends Bank held the number-three position with 12.26%. Other banks with double-digit market share in Montgomery County include First Federal with 12.17%, U.S. Bank with 11.49% and Bank of America with 11.15%. F&M Bank also maintained its number one deposit ranking for the entire Clarksville-Hopkinsville Metropolitan Statistical Area (MSA), which includes Stewart County, Tenn., and Trigg County, Ky. In 2009, F&M’s deposit market share rose to 13.74%, up from 13.65% in 2008. Planters ranks number two with 11.12% and Regions rose to 10.24%, taking the number three spot away from BB&T. The FDIC issues deposit market share reports on all federally insured institutions annually. Sammy Stuard, F&M Bank’s president and CEO, credits the bank’s growth to the community’s confidence. “Even with the negative publicity that has surrounded many banks during these tough economic times, F&M’s solid reputation in Montgomery and Stewart County continues to attract new business,” Stuard remarked. “F&M Bank has strong history here and our employees have earned the trust and loyalty of our customers. Luckily for us, word-of-mouth support for F&M has made a huge difference in garnering new personal and business banking clients,” he said. October 30, 2009 According to reports just issued by the FDIC, F&M Bank has maintained its number one ranking for total deposits in Stewart County for the fourth year in a row. F&M increased its market share in Stewart County to 46.15% of total deposits, an increase of .50% over last year. According to the 2009 FDIC reports of deposits through June 30, 2009, Regions Bank ranked number two with 45.38%, while Legends Bank/Bank of Dover held the number-three position with 8.470%. F&M Bank also maintained its number one deposit ranking for the entire Clarksville-Hopkinsville Metropolitan Statistical Area (MSA), which includes Stewart County and Trigg County, Ky. In 2009, F&M’s deposit market share rose to 13.74%, up from 13.65% in 2008. Planters Bank, headquartered in Hopkinsville, Ky., ranks number two with 11.12% and Regions rose to 10.24%, taking the number three spot away from BB&T. The FDIC issues deposit market share reports on all federally insured institutions annually. Sammy Stuard, F&M Bank’s president and CEO, credits the bank’s growth to the community’s confidence. “Even with the negative publicity that has surrounded many banks during these tough economic times, F&M’s solid reputation in Stewart County continues to attract new business,” Stuard remarked. “F&M Bank has strong history here and our employees have earned the trust and loyalty of our customers. Word-of-mouth support for F&M continues to make a huge difference in garnering new personal and business banking clients,” he said. October 18, 2009 CLARKSVILLE, Tenn. — F&M Bank is donating dollars and man hours as Extreme Makeover: Home Edition launches its newest project in Montgomery County, Tenn. According to Sammy Stuard, F&M’s president and CEO, the bank is contributing to the endeavor by providing staffing, beverages and snacks for the worker’s holding tent that will service hundreds of volunteers involved in the Extreme Makeover: Home Edition project. Bank employees, family member and friends of F&M Bank are being enlisted to work one or more four-hour shifts, beginning noon, Sunday, October 18. F&M Bank will provide around-the-clock staff at the worker’s holding tent until the project concludes October 24. Recruits will provide refreshments to workers who visit the tent and may be asked to take water and provisions to on-site construction workers. Stuard says that four volunteers will be needed for each four-hour shift during the seven-day project, and that the majority of the volunteers will come from F&M Bank. He expects enthusiasm for the event to spread bank-wide, and not only anticipates participation from the five F&M offices in Montgomery County, but throughout the bank’s entire Middle Tennessee network. “It’s a real testament to the volunteer spirit of Middle Tennessee that Extreme Makeover: Home Edition management would choose Montgomery County twice as the location for their show,” remarked Stuard. “This is the type of project that brings a community together and provides a source of pride in knowing what we can do when we pull together for a common cause. F&M Bank is extremely honored to have the opportunity to participate in this very worthwhile project.” F&M Bank is one of the top 15 independent banks in Tennessee and has 15 full-service banking facilities in Montgomery, Stewart, Robertson, Henderson, Rutherford, Wilson and Putnam counties. The Emmy award winning reality program Extreme Makeover: Home Edition, now in its 7th season, is produced by Endemol USA, a division of Endemol Holding. It’s executive-produced by Anthony Dominici. David Goldberg is Chairman, Endemol North America. The show airs Sundays 7:00 p.m. CT / 8:00 p.m. ET on ABC. September 25, 2009 Howard "Lewis" Sisco of Greenbrier, Tenn., was the winner of F&M Bank's ScoreCard Summer Sizzler promotion that took place during the months of June, July and August. Lewis was the Grand Prize winner of 100,000 ScoreCard points. He is a customer of F&M Bank in both White House and Greenbrier, but his winning registration form was filled out and submitted at F&M's White House office. Lewis is a truck driver and hopes to use his ScoreCard points to purchase a Global Position System (GPS) for his truck ... although he admits his wife will definitely have some input into his decision. F&M Bank thinks Lewis is a very SMART guy! September 15, 2009 BRENTWOOD, Tenn. — F&M Bank, headquartered in Clarksville, Tenn., has opened a 7,000 sq. ft. office in Maryland Farms. Rodney Wilds has been hired as F&M’s vice president and mortgage sales manager for the new location. Six additional mortgage lenders have likewise been hired by the rapidly expanding middle Tennessee financial institution. Completing the seven-person sales staff are Peter Zaft, Fred Campbell, Mike Muniz, Kathy Dixon, Mike Jett and Wayne Stephens who all join F&M Mortgage from Bank of America. “As F&M expands into Williamson County, Rodney and his group will quickly increase the F&M name recognition in the Brentwood / Franklin markets,” remarked Sammy Stuard, president and CEO of F&M Bank. “Williamson County, like most middle Tennessee markets, has continued to enjoy real estate growth that is uncommon in today’s economic environment,” he continued. “As the economy begins to improve, Williamson County will display an even higher home loan demand, and F&M is prepared to support that which is already being experienced here and in the surrounding communities.” August 31, 2009 This policy fulfills the requirements outlined in Section 111(d) of the Emergency Economic Stabilization Act of 2008, as amended by the American Recovery and Reinvestment Act of 2009 (“ARRA”) enacted on February 17, 2009. Under the interim final rule promulgated by the Department of Treasury (31 CFR Part 30), ARRA requires each recipient of funds under the Capital Purchase Program (“CPP”) of the Troubled Asset Relief Program to have in place a company-wide policy regarding excessive or luxury expenditures. F&M Financial Corporation (the “Company”), its primary subsidiary, F&M Bank (the “Bank”), and the other Company’s subsidiaries, prohibit excessive or luxury expenditures on (i) entertainment or events, (ii) office and facility renovations, (iii) aviation or other transportation services and (iv) other activities or events that are not reasonable expenditures for conferences, staff development, reasonable performance incentives or other similar measure conducted in the normal course of business operations of the Company. This policy applies to all employees, officers and directors of the Company and its subsidiaries including the Bank Renovations Entertainment The Company’s expectation is that all expenses paid by the Company should be for Company purposes, and used to steer and/or increase business to the Bank. Occasional events such as taking customers or prospects on trips, playing golf, eating dinner, taking them to other events the customer/prospect might find pleasurable is a necessary part of the Company’s marketing efforts and is not deemed as “luxury” or a violation of this policy. These expenses should be documented and detailed as to the benefit derived by the Bank. Events and parties focused on customers for the purpose of attracting and/or further developing their business would not fall under this policy. Conferences Holiday Parties Board Retreats Aviation Services Other Activities All other activities or events that are not reasonable expenditures for staff development, performance incentive in accordance with written plans and policies or other similar expenditures incurred in the normal course of business must be approved in advance by the Chief Executive Officer. General Anyone who becomes aware of a suspected or actual violation of this policy shall promptly report such violation to the Chairman of the Audit Committee of the Board, Frank Dill. Violation of this policy shall subject an individual to discipline up to and including termination of employment or removal from the Board, as applicable. The Company’s Chief Executive Officer and Chief Financial Officer shall certify at least annually that the approval of any expenditure requiring prior approval of an executive officer of the Company or the Board was properly obtained with respect to each such expenditure. On no less than an annual basis, all officers and directors of the Company and the Bank shall certify as to their understanding of and compliance with this policy. A copy of such certification is attached hereto as Appendix A. This policy shall be effective as of August 18, 2009 and shall remain in effect through the last day on which the Company has an outstanding obligation to the Department of Treasury under the CPP (excluding the warrants to purchase common stock of the Company). This policy may only be amended upon approval of the Board. This policy, and any amendments thereto, shall be posted on the Company’s website and provided to the Department of Treasury and the FDIC May 11, 2009 COOKEVILLE, Tenn. — F&M Bank has announced the opening of their first banking office in Cookeville at 541 South Willow Avenue, Suite 104, effective Monday, May 11. According to vice president and commercial lender, Tony Oliphant, the Willow Avenue office is a temporary move until the bank can secure property for a permanent facility. Suzanne Harrington has been tagged to run the bank’s day-to-day operations. Oliphant joined F&M in March of this year and has been representing the bank’s commercial lending interests in Putnam County prior to the official opening of an office in Cookeville. “The response to F&M moving into Cookeville was so enthusiastic, that we were forced to speed up our plans to open full-service banking,” stated Oliphant. Although new to Putnam County, the 103-year-old bank is well known throughout middle Tennessee, with 15 offices in Wilson, Rutherford, Sumner, Montgomery, Robertson and Stewart counties. The bank made news recently when BusinessTN magazine named them to their list of Hot100 companies in the state. F&M president and CEO, Sammy Stuard, is the past chairman of the Tennessee Bankers Association and was a recipient of American Banker magazine’s Community Banker of the Year award in 2007. “In today’s economy, the presence of a thriving, dynamic bank is a welcome addition to most communities,” reminds Oliphant. “In my opinion, that has much to do with the acceptance F&M is receiving here in Cookeville. “People want to know that their bank is changing with the times, and is going to be around for the long haul.” April 20, 2009 HENDERSONVILLE, Tenn. — F&M Bank has announced the opening of a new Hendersonville office at 100 Bluegrass Commons, Suite 100, effective April 20. According to vice president and market manager, Brad Edwards, the Bluegrass Commons office, which F&M will share with the bank’s mortgage department, is a temporary location. F&M has purchased property on Indian Lakes Blvd., and anticipates starting construction on a new facility next year. Edwards joined F&M in 2007 and up until this time has been working from the bank’s White House office with emphasis on business development in Sumner County. Brittany Watson, customer service representative, joins him in opening F&M’s new office. “We have been extremely pleased with the enthusiastic response F&M Bank has received by the businesses and residents of Sumner County,” remarked Edwards. “Even with limited presence in Hendersonville and Goodlettsville, a keen interest in our banking services has been expressed by area business owners who are looking for a stable, secure community bank with middle Tennessee roots. F&M’s 100-year history, accelerated growth and recent regional and nationwide accolades has attracted a lot of attention an interest in the way we do business. I’m extremely happy to officially have an office open in Hendersonville and anticipate meaningful deposit and loan growth as our reputation and positive word-of-mouth news spreads about our bank.” March 17, 2009 F&M Bank was nationally recognized for its contributions to the community at the American Bankers Association National Conference for Community Bankers in Phoenix, Arizona in February. The award was given to the entire F&M Bank team for the positive impact their program has had on the community. "We are honored to receive recognition for our commitment, passion and leadership in all the communities we serve," Sammy Stuard, President/CEO said. "F&M Bank and its employees have distinguished themselves for their long-standing commitment of giving back to the community." Through the ABA Community Bank Award Program, ABA honors institutions that have taken an innovative, creative and effective approach to making a difference in their community. F&M Bank is one of the top 20 independent banks in the state. With assets over $725 million, F&M Bank has recently opened new offices in Murfreesboro and White, Tennessee with offices further expansion into Hendersonville and Cookeville on tap for 2009 July 17, 2008 [CLARKSVILLE, Tenn.] - In light of recurring reports surrounding troubled financial markets, F&M Bank is launching an effort to inform their customers of programs providing FDIC insurance above and beyond the standard $100,000 coverage. One such program offered by F&M for their high balance CD customers can insure deposits up to $50 million. The Certificate of Deposit Account Registry Service (CDARS) allows F&M Bank, as part of the CDARS network, to offer customers the safety and convenience of one-stop deposits, rate negogiations and a single consolidated statement for all of their CDs. In times when many individuals and businesses deal with multiple banks in order to obtain $100,000 of FDIC coverage at each institution, F&M feels that they offer a real convenience for customers. "CDARS not only enables F&M Bank to provide our customers peace-of-mind when it comes to larger deposits, it's just a smart, convenient one-stop-shopping money management option that allows folks to deal with one bank that they know and trust," remarked Sammy Stuard, president and CEO of F&M Bank. Stuard points out that it's not just the wealthy who need a program like CDARS. “Retirees, business owners, nonprofits, fund managers - anyone who values convenience and wants or needs more than $100,000 in FDIC coverage - can benefit from F&M's CDARS program,” Stuard explained. Stuard says that F&M has also utilized CDARS to issue CDs for county and municipal entities. According to Stuard, there are no special service fees or transaction fees of any kind associated with the CDARS program, and investors can choose investment terms between one month and five years. However, he reminds investors that like any certificate of deposit, penalties are assessed for early withdrawals. For more information on the F&M CDARS program, call Jodel Hogg, executive assistant to the chief financial officer, at 931-906-0021. June 15, 2008 [CLARKSVILLE, Tenn.] — William S. “Sammy” Stuard, president and CEO of F&M Bank was installed as chairman of the Tennessee Bankers Association on June 3rd during the organization’s annual meeting in Colorado Springs. He is the eighth Clarksville banker to hold the position since 1890 and the first since 1963. Stuard replaces previous chairman Steve White, president of Community South Bank in Parsons. New executive officers are elected yearly at the TBA’s annual meeting. “TBA has a long tradition of providing programs and services to educate and inform bankers on changing trends, legislative and legal matters affecting our industry,” explained Stuard. “In addition, TBA acts as an advocate and educational resource for Tennessee consumers and businesses in matters that relate to their banking activities. As today's financial industry grows and changes, it is a great honor to be a part of an organization like TBA that works so diligently to meet the needs of Tennessee banks and the people we serve.” “Sammy Stuard has been a long-time friend and active supporter of TBA,” remarked Brad Barrett, TBA president. “His participation, commitment and leadership has been invaluable over the years, and we are fortunate to have someone of his reputation and work ethic representing Tennessee bankers for the next 12 months.” Stuard’s position at chairman of the Tennessee Bankers falls on the heels of his selection by American Banker newspaper as a 2007 Community Banker of the Year. American Banker is the financial industry’s leading daily information resource, and each year it honors four bankers who set the highest standards of progress, innovation and performance in the banking and financial services industry. |
