Daughter of Bank Employee Wins Rotary Club Ethics Award

May 20, 2016

The Harrisonburg Rotary Club recently awarded area students with a “Code of Ethics Award” at the Festival Student and Conference Center at JMU. Leah Ryman, daughter of F&M Bank employee Sean Ryman, was among the 70 recipients chosen from 35 schools in Harrisonburg and Rockingham County! Candidates were chosen by their teachers and voted on by a group made up of teachers and principals. One male and one female student were selected from three grade levels: 5th graders from the elementary level; 8th graders from the middle school level; and 12th graders from the high school level, respectively. The criteria for selection included: Truthfulness, fairness, consistency, dependability, integrity, service to and concern for others, friendliness, depth of commitments and reverence.

 

Leah Ryman pictured shortly after accepting her award 

The students’ parents, school principal, and Rotary host were invited to attend a luncheon in the students’ honor, followed by the awards ceremony.

Congratulations to Leah, Sean, and family!

 

F&M Bank To Open Branch In Grottoes In July

By VIC BRADSHAW
Daily News-Record

Reprinted with permission

HARRISONBURG — Rockingham County’s predominant bank is setting up shop in the one corner of the county it doesn’t serve.

Farmers & Merchants Bank has acquired the building at 200 Augusta Ave. in Grottoes that previously housed a BB&T branch and plans to open there in mid-July, according to Neil Hayslett, executive vice president and chief administrative officer of parent company F&M Bank Corp.

Interviews are being held now for the four staff positions at the bank, and minor renovations are planned.

“We’ve talked about it off and on for years,” Hayslett said of F&M’s decision to open a Grottoes location. “When BB&T and what used to be StellarOne was there, we didn’t feel like there was room for three banks.”

That situation changed in August 2013 when BB&T left the town.

Hayslett said F&M decided to pursue entry to the Staunton market more aggressively and also moved into the former BB&T location in Craigsville, which closed around the same time as the Grottoes branch. When company officials learned this spring the Grottoes building remained available and no restrictions existed on a bank operating there, they negotiated the purchase.

Alan E. Strawderman and CCANDO LLC sold the building to Farmers & Merchants early this month for $369,000, according to property records.

Farmers & Merchants, headquartered in Timberville, is the leading bank in Rockingham County. According to Federal Deposit Insurance Corp. data, customers had $319.3 million deposited in its Bridgewater, Broadway, Elkton and Timberville branches, which was 46 percent of the total held by county banks.

Union Bank & Trust, which bought StellarOne in May 2014, is the only bank operating in Grottoes.

BB&T’s former office was built in 1986, Hayslett said, so interior remodeling is planned to “freshen up the look.” New carpet, paint and furnishings are planned.

The exterior was in relatively good shape except for the sidewalk, which he said would be replaced.

The bank will be open Monday through Friday and a halfday on Saturday. Hayslett said customers will be able to make deposits and withdrawals at the branch and apply for loans, and company mortgage and investment officials will visit the site by appointment.

The Craigsville branch Farmers & Merchants opened in December has exceeded expectations, he said, and he thinks Grottoes residents will welcome the company.

“I think [Grottoes] fits into our footprint well, but it also fits into the fact that we like putting branches into smaller towns that often are underserved by financial institutions,” said Hayslett. “We think that its population and growth justifies more than one bank in Grottoes.”

Contact Vic Bradshaw at 574-6279 or vbradshaw@dnronline.com

 

F&M Bank Matches Donation to Local Nonprofit Benefiting Veterans

Farmers & Merchants Bank was the winner at the VBA/VACB Bank Director & Executive Management Conference in April.

The “Drive to 125” charity check for $500 was presented to Dean Withers (left), President & CEO, by Zachary Low (right) of BFS Group. Mr. Withers chose to donate their $500 charity check to Project Healing Waters and match the contribution on behalf of the Bank. Brian Trow (center), a representative from the charity was there to accept the donation on their behalf.

Project Healing Waters is dedicated to the physical and emotional rehabilitation of disabled active military service personnel and disabled veterans through fly fishing and associated activities including education and outings. The BFS Group’s “Drive to 125” campaign has donated more than $220,000 to local charities across the nation!

Fraud Alert for Cardholders Living or Traveling in New York

FRAUD ALERT – on Friday, May 6, 2016, F&M Bank began receiving notifications from our fraud detection system regarding some of our Virginia customers’ cards being used in stores in the state of New York, with confirmations of fraud.

As a precautionary measure, F&M has placed a block that requires the use of your PIN for transactions conducted in the state of New York. Your PIN must be used when using your debit card until this matter is resolved.  If you do not know your PIN, please notify the bank and we will order a new PIN to be mailed to the address on file for your account.

For customers who notify F&M Bank to obtain a new PIN and are Kasasa Accountholders: The Bank will pay the higher rate of interest for the statement cycle that ends in May to allow time for delivery of a PIN in the mail.  Customers would be expected to meet their 12 required transactions for the statement cycle that ends in June to qualify for the higher rate of interest.

We apologize for any inconvenience that this may cause for you, our valued customers.

If you have any questions please do not hesitate to contact our customer support team at (540) 896-8941.