F&M Bank Opens New Location in Waynesboro, VA

Pictured above: 2020 Calendar Photo entry submitted by Makeba Robinson


FOR IMMEDIATE RELEASE: F&M Bank Opens New Location in Waynesboro, VA

TIMBERVILLE, VA—April 23, 2021— F&M Bank, a locally owned independent community bank headquartered in Rockingham County is excited to announce the opening of its newest location in Waynesboro, VA on Monday, April 26, 2021. The full-service branch located at 2701 West Main Street expands the $1 billion community bank’s presence to four banking offices in the Augusta County market and 12 offices serving the greater Shenandoah Valley.

“The F&M Bank team is delighted to grow into the vibrant City of Waynesboro – a thriving, local economy,” said Mark Hanna, President & CEO. “With this growth, we remain focused on serving the Shenandoah Valley and contiguous markets as an independent bank for the long-term. The decision to expand into Waynesboro supports our strategic initiative of organic expansion in core markets to better serve the banking needs of our communities.”

In January 2021, F&M Bank entered into an agreement with Carter Bankshares, Inc. to acquire the branch, and associated client relationships, which recently received regulatory approvals. The Company also welcomes two Carter Bank & Trust employees, Lisa Shiflet and Breanna Rodgers to the F&M Bank family.

Mr. Hanna is available for further comment. Please contact Holly Thorne at marketing@fmbankva.com, (540) 217-6409

Mark Hanna Appointed to 2021 Housing Finance Subcommittee

Mark Hanna President & CEOWashington, D.C. (March 29, 2021)—The Independent Community Bankers of America (ICBA) today announced that local community banker Mark Hanna, President & CEO of F&M Bank, Timberville, VA, was named to serve on ICBA’s 2021 Housing Finance Subcommittee. In March 2020, Mr. Hanna was also elected to serve as the ICBA’s Elected Federal Delegate for Virginia for a three-year term, running through March 2023. ICBA is the nation’s voice for community banks.

“I am honored to represent our industry and share my experiences as a community banker to help ICBA communicate the positive story of community banking,” Hanna said. “Community banks are trusted relationship-based lenders, invested in the success of their customers and the economic prosperity of their community.”

In addition to helping shape and advocate ICBA’s national policy positions and programs, Hanna’s duties include engaging in grassroots activities in Virginia to promote pro-community bank policies and serving as a liaison between community banks and ICBA staff and leadership in Washington, D.C.

“Mark is a dedicated community banker who is highly respected in his community and by his industry peers,” said ICBA Chairman Robert M. Fisher, president and CEO of Tioga State Bank, Spencer, New York. “We are delighted Mark has accepted this appointment and generously volunteered his time and professional talents in pursuit of creating an environment where community banks, and the communities they serve, continue to flourish.”

About ICBA
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

Community Investment Radio

Relocation Guide for Winchester and Frederick County: What You Need to Know for a Successful Move

Are you considering a relocation to the city of Winchester or have you recently moved to Frederick County? Keep reading for everything you need to know about living in the Shenandoah Valley.

Founded in 1752, Winchester is a medium-sized city with plenty to offer history buffs as well as people looking for modern amenities and entertainment. Still affordable and within commuting distance to D.C., Winchester is a great place to raise a family and/or to telecommute to a job in the greater metro area. In addition to its proximity to the Northern Virginia/D.C. metro area, you can also drive to other East Coast Cities like Baltimore, Philadelphia, and even New York (4 hours away).

As part of the Shenandoah Valley, Winchester and the rest of Frederick County have an abundance of natural beauty, parks and trails, and historical sites. Vineyards and farms dot the landscape here as well. Keep reading to learn more about Winchester and Frederick County!

What is the cost of living in Winchester and Frederick County?

According to the rankings from Sperling’s Best Places, Winchester’s cost of living is 101.8 out of 100, making it slightly more expensive than the U.S. average but more affordable than the statewide average for Virginia.

Perhaps the biggest factor in Winchester’s cost of living is its hot housing market, where demand outweighs supply and homes sell for a median price of $251,000. Still, that is very affordable compared to home prices in towns closer to D.C. Winchester is a great option for people who want to be within commuting distance of the metro area but can work remotely some or all of the time.

Another benefit of living in Winchester is that real estate taxes are relatively low, with the tax rate for 2020 at $0.93 per $100 of assessed value.

Looking to rent instead of buy? You’ll find that one-bedroom units rent for an average of $770/month in Winchester and two-bedrooms go for about $1,020.

Education in Frederick County

In addition to Frederick County Public Schools, our community also benefits from higher education institutions.

Frederick County Public Schools offers 12 elementary schools, including eight in Winchester; four middle schools, with three in Winchester; and three high schools, two of which are in Winchester. Preschool is also available for eligible students in certain elementary school attendance zones.

If you’re interested in private school in Winchester, here is a sampling of options:

As for higher education in Frederick County:

Neighborhoods in Winchester

As a medium-sized city, Winchester offers a mix of newer and more historic housing in both urban and suburban settings. Popular neighborhoods include:

  • Old Town: Historic downtown neighborhood with residential units as well as retail, dining, and cultural attractions.
  • College Park: Suburban neighborhood adjacent to Shenandoah University
  • Green Acres: Suburban community with midsize homes dating back to 1959.
  • Ash Hollow Estates: Another planned suburban community

Other Major Towns in Frederick County

Transportation and Infrastructure

The Winchester Regional Airport is 70 miles from Dulles International Airport

  • The Winchester Regional Airport is 70 miles from Dulles International Airport.
  • Major roadways include I-81, I-66, US 50, US 11, US 522, VA Primary 7, and VA Primary 37.
  • Public transit options include Win Tran and RouteShout.
  • Commuting to D.C.? You can drive to a Park & Ride Lot and take a commuter bus to a nearby metro station.

Setting Up Local Utilities

Creating new utility accounts may not be the most fun task associated with moving, but we’ve made it easier for you with this handy list of local providers:

  • The City of Winchester’s Public Utilities department provides water and wastewater services to residents. To apply for water and sewer service, fill out the online application or visit the Utilities Customer Service Center in Rouss City Hall. A $170 deposit is required of all first-time residential customers and will be credited back to your account after a certain number of on-time payments. If you are renting your home in Winchester, you’ll need to fill out the Tenant Form and get it signed by your landlord.
  • Winchester receives electricity from the Shenandoah Valley Electric Cooperative. To open a new account, call SVEC at 1 (800) 234-7832. You’ll pay a $5 membership fee and a deposit may be required, depending on the results of their evaluation.
  • For natural gas, you’ll need to open an account with Shenandoah Gas, a subsidiary of Washington Gas.
  • When it comes to telecom providers, you can choose from a variety of options, including Comcast, DIRECTV, DISH Network, HughesNet, Lumos Networks, Verizon, Visuallink, Wave2Net, and Winchester Wireless.

Healthcare Services

Winchester and Frederick County offer many reliable options for animal hospitals. Also, the Esther Boyd Animal Shelter is a great foundation for those looking to adopt.

Looking for new doctors for your family? Winchester Medical Center, part of the Valley Health System, offers urgent care, internal medicine and pediatric services, as well as a variety of specialty fields in both inpatient and outpatient settings. Medical offices are located on the hospital’s main campus, or within a quick drive. Winchester Medical Center is an award-winning facility and essential resource for residents of the Northern Shenandoah Valley. Numerous dental practices can also be found throughout the city.

To care for the pets in your life, you’ll be pleased to find many veterinarian offices and emergency hospitals throughout Frederick County. If you’re looking to adopt a pet, check out the Esther Boyd Animal Shelter or the SPCA of Winchester, Frederick, and Clarke Counties.

Parks and Recreation

FCPRD manages a system of owned or maintained facilities and developed park land, including 3.6 miles of paved multipurpose trail, two miles of unpaved trails, nineteen picnic shelters, nine playgrounds, two fishing lakes, and two outdoor pools.

Winchester’s Parks and Rec department offers a variety of educational, athletic, and arts/crafts programs for children and adults as well as facilities, parks, trails, dog parks, and camps. Jim Barnett Park is the largest park in Winchester with over 170 acres of green space and amenities.

For even more parks and recreational opportunities, visit Frederick County’s Parks & Recreation page.

Local Attractions

Local Media

Frederick County Libraries

Find local branches and use digital resources from the Handley Regional Library System.

Community Banking with F&M

If you’ve recently moved to Winchester-Frederick County, one of the most important decisions you’ll make is where to bank. F&M has a long local history of commitment to serving and investing in Shenandoah Valley communities. At our branches, you’ll find a friendly group of employees ready to answer your questions about getting a mortgage, taking out a personal loan or business loan, or opening one of our high interest checking and savings accounts.

“Fraud Department” Text Scam

We have been made aware of an unsolicited text and phone call scam circulating through our area. In this reported case, a customer received a text message that appears to be from the F&M Bank fraud department. The text message asks for a simple reply – YES, if you initiated a transaction, or NO, if the charge is fraudulent. An image is below for your convenience.

When the customer responded “NO” and denied the charge, the criminal fraudster followed up with a phone call. The caller ID also appears to be from F&M Bank, Timberville. The caller claimed to from the F&M Bank “fraud department” and asked the customer for more information. The customer became suspicious and began asking questions of the fraudster leading to the fraudster ending the call.

Unfortunately, fraudsters can configure a text message or phone call to appear to come from any source. This scam is extremely dangerous because it seems legitimate. To best protect yourself, never give out your confidential information over the phone or via text.

F&M Bank will not call or text you and ask you to provide sensitive information. If you receive such a call or text message, do not respond. Contact your local F&M Branch using a number you know to be valid. Do not use numbers contained in the caller ID on your mobile phone.

Scam Text

Ask A Financial Advisor – Q&A with Matt Robinson

Matt Robinson, Vice President – Infinex Financial Advisor with F&M Financial Services, Inc.

80 Cross Keys Road, Harrisonburg, VA 22801

(540) 437-3467

mrobinson@infinexgroup.comMake An Appointment with Matt

Question: What is the most rewarding part of your work?

I enjoy being a problem solver for my clients. At the end of the day the client has an issue or problem, and they are looking to me for the solution. It is not an exact science but being able to customize each plan for every client is extremely exciting and rewarding.

Question: How can residents of the Shenandoah Valley area benefit from working with a financial advisor?

The Shenandoah Valley is filled with a diverse population of workers, families, and communities. We are growing at a very fast rate and becoming even more diverse. A financial advisor is well positioned to provide a level of advice and expertise in the form of finances that can greatly benefit the population.

Having a trusted name and person to go to is something more and more people are seeking. In this complex world of speed and efficiency it is easy to understand why people tend to neglect their finances and only focus on what they need to accomplish each day. Working with an advisor is a way to relieve some of that financial burden but more so a way to find a partner in your financial story. We want to walk along with you, not lead.

Question: How should I plan and prioritize my short-term vs. long-term financial goals?

Setting goals is perhaps one of the most important things you can do in mapping out a good plan. I tend to work on goals-based investing, and with that we determine your short-term, mid-term and long-term goals. How many goals do you have? Where should we place the most or least risk? In life you must make decisions that are short-term but also recognize that they may have long-term implications.  I work to help my clients realize and implement this to give them the most confidence in their plan.

Question: Why is life insurance important for financial health?

As someone who has delivered a life insurance death check, I can tell you that it’s very important. Someone once told me that “life Insurance is the most selfless thing you’ll ever buy.” That still sticks with me to this day because of the statement’s simple truth. Most times the person that purchases the life coverage will never see a penny of the profit or benefit. They purchase it to help their loved ones in the unforeseen event of a premature death. Life insurance can be there to help keep kids in school, as well as pay off a home. It’s a powerful product!

Question: What should I consider when determining to invest in stocks vs. mutual funds?

Risk is number one. What are you willing to risk and what is your risk tolerance? Once that is decided it can be as simple as matching your goal and risk up with the proper investment vehicle. I have many clients that like individual stocks, and I have clients that love mutual funds. There is no perfect answer but in working with an advisor you will feel confident about the choice you make going forward.

Question: How should my wealth management strategy change in response to COVID-19?

COVID-19 has been a disruptor – not only in our personal and work life but also our financial life. The bad news is that COVID-19 happened, and the good news is that it won’t last forever. Making any drastic financial changes to a portfolio during times of such uncertainty can produce adverse results to your overall plan. If you don’t need the money immediately, or in the foreseeable future, the textbook says to stay invested.

Making some minor changes to sector exposure has been more of the playbook since COVID-19 became an issue. Simply put that means we have moved funds away from the decimated sectors like tourism, hospitality, restaurants, airlines, etc. Some sectors that have done well have been technology and consumer staples. Once again, you shouldn’t make large changes but instead calculated small changes to hopefully enhance your portfolio during these unusual times.

Question: How do index funds play a part in my investment strategy?

Index funds serve a purpose in the investing world. They generally have lower fees but with that comes a passive approach to investing. The opposite would be a more active approach to investing.  Passive index investing is simply following along with a large index, and there is no deviation from the index. During the most recent bull market run, the indexes have shown tremendous growth in the last 10 years. Having a broad-based index apart of your portfolio can be a hedge against some more specified positions all aimed at the idea of diversification*.

*Diversification is a method of helping to manage risk. It does not assure a profit or the avoidance of loss.

Question: What do Virginia residents need to consider when determining where and when they should retire?

This is a million-dollar question! It’s unique to every person as to when and where to retire. Some people need millions of dollars and some need a few hundred thousand. Everyone will have a different situation, but it’s important to understand who you want to be in retirement.

  • Do you want to travel?
  • Do you want to help with kids and grandkids?
  • Do you want a part time job or perhaps volunteer?

There are multiple factors at play with regards to Social Security and Health Insurance. You have to consider the cost of living in the town or city. Having a partner that shares your interests in retirement seems to be a growing trend. Sitting down with someone who sees different perspectives and can help you navigate the new waters of retirement can be such a great experience. It can give you the confidence to go forth into retirement and live the life you want!

Question: Where should I invest my funds in order to save for retirement?

The answer to this is similar to the stocks or mutual funds question. It will all depend on your risk tolerance and your retirement needs. The textbook says to be more aggressive when you are young and bring down your risk the closer you get to retirement. Being an educated investor will help you make better decisions and feel like you are on the correct pathway to a fantastic retirement.

Make An Appointment with Matt

Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. F&M Financial Services, Inc. is a nonbank subsidiary of F&M Bank. Infinex is not affiliated with either entity.

Securities and Insurance Products:

Not Guaranteed by the Bank | Not FDIC Insured | Not a Deposit | Not Insured by Any Federal Government Agency | May Lose Value Including Loss of Principal

Virtual Scholarship for High School Seniors

F&M Bank is excited to partner with the Virginia Bankers Association Education Foundation (VBA) to offer local seniors a unique, virtual scholarship opportunity called Bank Day. The third Tuesday in March was declared Bank Day by the Virginia General Assembly in 1991.

Through this program, high school seniors learn about banking, financial services, career opportunities and the vital role banks play in their communities.  From their experience, the students are required to write an essay. Fourteen scholarships will be awarded on the basis of the essays.

Due to the pandemic, Bank Day will be completely virtual and centralized with content provided from the VBA. Students will have access to a VBA-created Bank Day resource webpage over a three-week window from March 15-April 2, 2021. This resource page will house all relevant information that students will need to research in order to complete their essay for a chance to win college scholarships. As a virtual host, F&M Bank will also be providing supplemental information about ways we support our community.

We are excited to celebrate the 30th anniversary of Bank Day in 2021! In recognition of this milestone, a total of $29,000 will be awarded to twelve students across the Commonwealth.

  • Six honorable mention winners, each winning a $1,000 scholarship.
  • Six regional winners, each winning a $2,500 scholarship.
  • One of the regional winners will be named the statewide runner-up winner, earning an extra $3,000 scholarship for a total of $5,500 in college scholarships!
  • One of the regional winners will also be named the statewide winner, earning an extra $5,000 scholarship for a total of $7,500 in college scholarships!

Hear from Emily Carder, the 2020 Bank Day statewide winner, about the benefits of participating in this program. Click here to view her video testimonial.

For more detailed information regarding the scholarship program or essay guidelines, please download the below resources.

Interested in participating?

In order to participate, students must be currently enrolled as seniors in a Virginia high school with cumulative GPAs of 3.0 or higher. Interested students must register online by March 5th through the VBA.

In March, students will be contacted directly by the VBA with more information about the program and a link to access the student resource webpage.

Here to Help with PPP Round Two

Economic Impact Payment Guidance

The Internal Revenue Service and the Treasury Department will soon begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans.

F&M Bank would like to offer some best practices for checking the status of your Economic Impact Payment in advance of the January 4th official payment date.

Economic Impact Payment Guidance from F&M Bank

F&M Bank receives direct deposit transactions from the Federal Reserve twice daily – 9:00am and 4:00pm. There is often a misconception that a direct deposit could arrive at any time throughout the day, however that is not the case. If you do not see payment after 9:00am within your online banking account, check back after 4:00pm on the same business day. The same guidance applies for an over the phone payment inquiry.

For customers receiving a direct deposit payment, consider utilizing deposit alerts within online and mobile banking. After established, you will receive an alert when your payment has posted.

Additionally, the IRS offers the “Get My Payment” tool on their website. Visit this link to check the status of your payment.

Economic Impact Payment Guidance from the IRS

The IRS emphasizes that there is no action required by eligible individuals to receive this second payment. Some Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of January 4, 2021. The IRS reminds taxpayers that the payments are automatic, and they should not contact their financial institutions or the IRS with payment timing questions.

As with the first round of payments under the CARES Act, most recipients will receive these payments by direct deposit. For Social Security and other beneficiaries who received the first round of payments via Direct Express, they will receive this second payment the same way.

Anyone who received the first round of payments earlier this year but doesn’t receive a payment via direct deposit will generally receive a check or, in some instances, a debit card. For those in this category, the payments will conclude in January. If additional legislation is enacted to provide for an additional amount, the Economic Impact Payments that have been issued will be topped up as quickly as possible.

To continue reading, please visit the IRS website. Additional guidance and eligibility requirements are provided.