F&M Bank Corp. Announces Appointment of Three Board Members

Timberville, VA (September 2, 2021) – F&M Bank Corp. (OTCQX:FMBM), parent company of Farmers & Merchants Bank, announces the appointment of three new corporate members as of the July 2021 meeting of the board of directors. The new members are Daphyne Saunders Thomas with James Madison University; John Willingham with Stoneridge Companies; and Hannah Hutman with Hoover Penrod, PLC.

“Our Board of Directors is comprised of a dedicated team of community leaders committed to providing strength, stability and longevity to the businesses and communities of the Shenandoah Valley,” said Mark Hanna, President and CEO of F&M Bank Corp. “We are excited to channel Hannah, Daphyne and John’s talent, expertise and energy into furthering our mission and vision.”

Daphyne ThomasDaphyne Saunders Thomas served as the endowed Adolph Coors Professor of Business Administration chair until her retirement and is currently a professor emerita at James Madison University.  A graduate of The Washington and Lee University School of Law, she joined the College of Business faculty in 1981, and completed her MBA at JMU.  Thomas earned her undergraduate degree at Virginia Tech. She currently teaches graduate classes for James Madison University for the Executive Leadership MBA and for the Master of Accounting programs. She was a co-founder and co-director of the CyberCity Summer Program, a nationally award-winning summer technology program for middle and high school students from underrepresented populations. Thomas also previously chaired the Harrisonburg Electric Commission and is a former chair of the Harrisonburg/Rockingham Community Services Board. She currently serves on the boards of numerous non-profit organizations, including Sunnyside Communities, The Explore More Children’s Museum, The Community Services Board Halfway House, The JMU College of Visual and Performing Arts Advisory Board, The Harrisonburg/Rockingham Child Daycare Center and The Community Foundation of Harrisonburg/Rockingham Grants and Scholarship committee. Previous gubernatorial appointments include service on the Commonwealth Transportation Board, the Jamestown Yorktown Foundation, the Outstanding Virginian Day, and the Selective Service System Board.  She serves on the audit and ORC committees of the F & M Corporate Board.

 

John Willingham


John Willingham
, CPA, is President of Stoneridge Companies, a multi-faceted real estate development, construction and realty company based in Winchester, VA. Additionally, he is the President of Total Remodeling, a regional sunroom and outdoor living contractor. Previously, John was a business banking manager and senior commercial lender for Wells Fargo, CFO of a publicly traded community bank, and was in public accounting with Yount, Hyde and Barbour, P.C. and PricewaterhouseCoopers.  He currently serves as Chairman for the Frederick Winchester Service Authority and is a member of the board for Grafton Integrated Health Network. Previously, he served 12 years as a City Councilor for the City of Winchester and was President of Council for 5 years.

 

 

 

Hannah HutmanHannah Hutman is a partner at the law firm of Hoover Penrod, PLC, in Harrisonburg. Her practice includes representing creditors, trustees, and debtors in bankruptcy proceedings and insolvency related matters. Hannah has represented national and regional banks in all aspects of commercial loan transactions and collections, including restructuring obligations, asset liquidations and dispositions, and foreclosure. Hannah is a member of the panel of Chapter 7 trustees for the Western District of Virginia.  In addition, Hannah provides legal counsel and services in entity formation and governance matters, financing transactions, contracts, and business asset transfers.  She is a former Chair of the Board of Governors of the Bankruptcy Law Section for the Virginia State Bar. Hannah is “AV” rated by Martindale-Hubbell, has routinely been listed in Super Lawyers as a Rising Star, selected as a member of Virginia’s “Legal Elite,” and included in the American Bankruptcy Institute’s 2018 class of “40 under 40.”  She received her J.D. from the Marshall Wythe School of Law at the College of William and Mary in Williamsburg, Virginia and her B.A, summa cum laude, from Columbia Union College in Takoma Park, Maryland.  Hannah lives in Harrisonburg with her husband Matt and two sons.

F&M Bank Announces Third Annual Local Business You Love Contest

F&M Bank is excited to announce the return of its “Local Business You Love” contest for a third year, kicking off on September 1st. Throughout September, F&M Bank will ask Shenandoah Valley residents to nominate their favorite local business to win $10,000. First round nominations will be accepted September 1 – 17, 2021 on the  F&M Bank website.

As a community bank dedicated to the Shenandoah Valley, we consistently look for ways to support small business and Virginia-based organizations. Encouraging public participation in the contest has proven to be a fun way for our bank to boost awareness and publicity for locally owned businesses.

Mark Hanna, President and CEO, states, “In 2019, a group of F&M Bank employees created the ‘Local Business You Love’ contest to celebrate and recognize the positive impact local businesses have made in our footprint. The contest has proven to be a tremendous success evident from the community support shown by Shenandoah Valley residents. We are thrilled to host the contest again this year to help amplify the small businesses who continue to persevere through extremely difficult seasons.”

First round nominations will be accepted online through September 17thst at 5pm. A panel of F&M Bank employees will then determine the Top 10 based on nomination relevance. On September 30th, the Top 10 will be announced, a round of public voting will begin, and the $10,000 winner will be announced later in the fall at a reception honoring the Top 10 contestants.

More information regarding the Local Business You Love Contest, including the nomination form and a complete list of rules and regulations, can be found at www.fmbankva.com/bizyoulove.

For more information, please contact Holly Thorne, marketing@fmbankva.com.

F & M Bank Corp. Announces Second Quarter Earnings and Dividend

TIMBERVILLE, VA / ACCESSWIRE / July 27, 2021 / F & M Bank Corp. (OTCQX:FMBM), parent company of Farmers & Merchants Bank today reported net income available to common shareholders of $3.2 million and diluted earnings per common share of $0.93 for the quarter ending June 30, 2021.

These earnings are driven by growth in net interest income despite margin compression, growth in non-interest income due to our subsidiary organizations and improved asset quality and economic conditions.

Net interest income reflects year over year growth. As yields on earning assets continue to decline the Company has been able to support net interest income with savings in interest expense and growth in the investment portfolio.

Noninterest income remained strong in the second quarter at $6.4 million year to date this reflects an increase over June 30, 2020 which totaled $5.7million in the heart of the mortgage refinance boom. Growth is primarily driven by continued high volumes of mortgage originations, growth in our wealth management division, and title division.

Continued improvements in asset quality and economic conditions resulted in the ability to reduce the allowance for loan losses to 1.31% of loans held for investment (1.35% excluding PPP loans) which was accretive to income $1.975 million year to date or $1.250 million in the 2 nd quarter.

Paycheck Protection Program (“PPP”) & CARES Act

During 2021, the Company processed 363 Paycheck Protection Program (PPP) loans that totaled $23.8 million; PPP loans processed during 2020 and 2021 YTD totaled 1,080 loans for $87.1 million. In addition to an insignificant amount of PPP loan payoffs, the Company has processed a total of $64.4 million of forgiveness on 809 loans program to date resulting in a remaining balance of PPP loans of $22.7 million. As of June 30, 2021, one loan remains in a COVID related loan payment deferral status.

Selected financial highlights include:

  • Net income of $3.2 million for the quarter ended June 30, 2021 and $7.02 million year to date.
  • Net interest margin of 3.27%.
  • Total deposits increased $92.6 million and $188.7 million, respectively for the quarter and for the trailing 12 months as the bank continues to grow our composition of DDA accounts and decrease balances of Time Deposits.
  • Total loans increased $16.0 million and $36.7 million, respectively for the quarter and for the trailing 12 months (excluding PPP loans).
  • Nonperforming assets decreased to 0.50% of total assets at the end of the quarter from 0.68% on 12/31/20 and 0.57% on 6/30/20.
  • Negative Provision for Loan Losses of $1,250,000 for the quarter ended June 30, 2021, and $1,975,000 year to date.
  • Allowance for loan losses totaled 1.31% of loans held for investment (1.35% excluding PPP loans).

Mark Hanna, President, commented “ We are pleased with June 30, 2021 year to date earnings of $7.02 million. Our mortgage, title, and wealth management divisions continue to drive strong noninterest income. Loans continue to grow at a modest pace driven by Agriculture, C&I, CRE, and Dealer through a generally tepid lending environment. Our net interest margin of 3.27% reflects a historical decline but remains strong especially given the changes in our balance sheet and the current rate environment. F&M continues to gain relationships in our legacy and new markets adding to an already highly liquid balance sheet as the bank implements strategic solutions to leverage these assets.”

On July 23, 2021, our Board of Directors declared a second quarter dividend of $.26 per share to common shareholders. Based on our most recent trade price of $29.00 per share this constitutes a 3.59% yield on an annualized basis. The dividend will be paid on August 30, 2021, to shareholders of record as of August 14, 2021.”

F & M Bank Corp. is an independent, locally-owned, financial holding company, offering a full range of financial services, through its subsidiary, Farmers & Merchants Bank’s twelve banking offices in Rockingham, Shenandoah, and Augusta Counties, Virginia. The Bank also provides additional services through a loan production office located in Penn Laird, VA, a loan production office in Winchester, VA and through its subsidiaries, F&M Mortgage and VSTitle, both of which are located in Harrisonburg, VA. Additional information may be found by contacting us on the internet at www.fmbankva.com or by calling (540) 896-1705.

This press release may contain “forward-looking statements” as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in interest rates, general economic conditions, legislative and regulatory policies, and a variety of other matters. Other risk factors are detailed from time to time in our Securities and Exchange Commission filings. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this press release.

F & M Bank Corp.
Key Statistics

2021 2020
Q2 Q1 YTD Q2 Q1 YTD
Net Income (000’s)
$ 3,220 $ 3,801 $ 7,021 $ 2,626 $ 1,189 $ 3,815
Net Income available to Common
$ 3,154 $ 3,736 $ 6,890 $ 2,560 $ 1,123 $ 3,683
Earnings per common share – basic
$ 0.98 $ 1.17 $ 2.15 $ 0.80 $ 0.35 $ 1.15
Earnings per common share – diluted
$ 0.93 $ 1.11 $ 2.04 $ 0.76 $ 0.35 $ 1.11
Return on Average Assets
1.22 % 1.56 % 1.39 % 1.17 % 0.58 % 1.70 %
Return on Average Equity
13.06 % 15.96 % 14.78 % 11.50 % 5.23 % 16.70 %
Dividend Payout Ratio
26.53 % 22.22 % 24.19 % 32.50 % 74.29 % 45.22 %
Net Interest Margin
3.13 % 3.44 % 3.27 % 3.55 % 3.97 % 3.75 %
Yield on Average Earning Assets
3.56 % 3.92 % 3.72 % 4.20 % 4.88 % 4.52 %
Yield on Average Interest Bearing Liabilities
0.62 % 0.70 % 0.66 % 0.92 % 1.27 % 1.09 %
Net Interest Spread
2.94 % 3.22 % 3.06 % 3.28 % 3.61 % 3.43 %
Provision for Loan Losses (000’s)
$ (1,250 ) $ (725 ) $ (1,925 ) $ 800 $ 1,500 $ 2,300
Net Charge-offs
$ (272 ) $ 45 $ (227 ) $ 203 $ 453 $ 656
Net Charge-offs as a % of Loans
-0.16 % 0.03 % -0.03 % 0.12 % 0.30 % 0.10 %
Non-Performing Loans (000’s)
$ 5,532 $ 5,783 $ 5,532 $ 4,465 $ 4,168 $ 4,465
Non-Performing Loans to Total Assets
0.50 % 0.57 % 0.50 % 0.45 % 0.50 % 0.45 %
Non-Performing Assets (000’s)
$ 5,532 $ 5,783 $ 5,532 $ 5,625 $ 5,504 $ 5,625
Non-Performing Assets to Assets
0.50 % 0.57 % 0.50 % 0.57 % 0.66 % 0.57 %
Efficiency Ratio
76.07 % 68.00 % 72.00 % 65.33 % 70.51 % 67.79 %
  1. The net interest margin is calculated by dividing tax equivalent net interest income by total average earning assets. Tax equivalent interest income is calculated by grossing up interest income for the amounts that are nontaxable (i.e. municipal securities and loan income) then subtracting interest expense. The tax rate utilized is 21%. The Company’s net interest margin is a common measure used by the financial service industry to determine how profitable earning assets are funded. Because the Company earns nontaxable interest income from municipal loans and securities, net interest income for the ratio is calculated on a tax equivalent basis as described above.
  2. The efficiency ratio is not a measurement under accounting principles generally accepted in the United States. The efficiency ratio is a common measure used by the financial service industry to determine operating efficiency. It is calculated by dividing non-interest expense by the sum of tax equivalent net interest income and non-interest income excluding gains and losses on the investments portfolio and Other Real Estate Owned. The Company calculates this ratio in order to evaluate how efficiently it utilizes its operating structure to create income. An increase in the ratio from period to period indicates the Company is losing a greater percentage of its income to expenses.

F & M Bank Corp.
Financial Highlights

INCOME STATEMENT
Unaudited
2021
Audited
2020
Interest and Dividend Income
$ 17,565,650 $ 18,101,844
Interest Expense
2,137,253 3,090,815
Net Interest Income
15,428,397 15,011,029
Non-Interest Income 6,441,307 5,681,703
Provision for Loan Losses
(1,975,000 ) 2,300,000
Impairment of long lived assets
171,109 19,193
Other Non-Interest Expenses 15,959,140 14,385,236
Income Before Income Taxes
7,714,455 3,988,303
Provision for Income Taxes
693,126 173,250
Net Income
$ 7,021,329 $ 3,815,053
Dividend on preferred stock
130,896 131,746
Net Income available to common shareholders
$ 6,890,433 $ 3,683,307
Average Common Shares Outstanding
3,205,074 3,199,183
Net Income Per Common Share
Dividends Declared
2.15.52 1.15.52
BALANCE SHEET
Unaudited
June 30, 2021
Audited
June 30, 2020
Cash and Due from Banks
$ 15,415,037 $ 16,950,810
Interest Bearing Bank Deposits
3,901,543 1,199,474
Federal Funds Sold
166,698,000 68,548,000
Loans Held for Sale
8,854,680 90,403,042
Loans Held for Investment 661,125,556 661,528,802
Less Allowance for Loan Losses
(8,726,540 ) (10,033,466 )
Net Loans Held for Investment
652,399,016 651,495,336
Securities
198,814,465 93,381,484
Other Assets
59,217,012 59,623,971
Total Assets
$ 1,105,299,753 $ 981,602,117
Deposits
$ 955,344,337 $ 766,651,982
Long Term Debt
31,309,498 100,585,081
Other Liabilities
18,434,164 22,063,159
Total Liabilities
1,005,087,999 889,300,222
Preferred Stock
4,558,298 4,591,623
Common Equity
95,653,456 87,710,272
Stockholders’ Equity
100,211,754 92,301,895
Total Liabilities and Stockholders’ Equity
$ 1,105,299,753 $ 981,602,117
Book Value Per Common Share
$ 29.80 $ 27.44
Tangible Book Value Per Common Share
$ 29.98 $ 27.51

CONTACT:
Carrie Comer EVP/Chief Financial Officer
540-896-1705 or ccomer@fmbankva.com

SOURCE: F & M Bank Corp.

View source version on accesswire.com:
https://www.accesswire.com/657238/F-M-Bank-Corp-Announces-Second-Quarter-Earnings-and-Dividend

F&M Bank Announces New Office in Winchester

TIMBERVILLE, VA., July 16, 2021 — F&M Bank Corp. (OTCQX:FMBM), holding company for F&M Bank, announced today the opening of a new commercial office in downtown Winchester. The office is located on the third floor of the historic Odd Fellows building at 45 E. Boscawen Street. Earlier in 2021, F&M Bank welcomed a local commercial team with 141 years of combined experience to spearhead the Company’s move into the northern Shenandoah Valley market. Led by Chief Strategy Officer & Northern Market Executive, Mike Wilkerson, the team consists of commercial relationship managers John Sargent and Jon Reimer; business relationship specialists Ronda Gross and Gail Pryde; and senior credit analyst Bill Steele.

“We are thrilled to grow into the vibrant City of Winchester and surrounding Frederick County,” said Mike Wilkerson. The “’Top of Virginia’ is a thriving, local economy and is contiguous to F&M’s existing Shenandoah Valley footprint. We look forward to contributing to the continued success of the region and supporting the needs of the agricultural industry, commercial and small businesses, and nonprofit organizations.

Mr. Wilkerson is available for further comment. Please contact Holly Thorne at marketing@fmbankva.com.

About F&M Bank
F&M Bank Corp. (OTCQX: FMBM) proudly remains the only publicly traded organization based in Rockingham County, VA, and since 1908, has served the Shenandoah Valley through its banking subsidiary F&M Bank, with full-service branches and a wide variety of financial services, including home loans through F&M Mortgage, and real estate settlement services and title insurance through VSTitle. Both individuals and businesses find the organization’s local decision-making, and up-to-date technology provide the kind of responsive, knowledgeable, and reliable service that only a progressive community bank can. F&M Bank has grown to $1 billion in assets with more than 175 full and part-time employees. Its conservative approach to finances and sound investments, along with excellent customer service, has made F&M Bank profitable and continues to pave the way for a bright future.

F&M Financial Service Advisors Calan Jansen and Matt Robinson Earn Top 50 Ranking by Infinex Investments, Inc

Press Release
For Immediate Release

June 22, 2021, Timberville, VA ‐‐ F&M Bank Corp. is pleased to announce that F&M Financial Services Advisors Calan Jansen and Matt Robinson have both been ranked among the Top 50 Infinex Financial Professionals, based on 2020 Gross Dealer Concession (GDC).

Calan Jansen, who provides investment services to clients in the Broadway and Edinburg offices of F&M Bank, ranked #14 of 50. Matt Robinson, who serves Harrisonburg and Rockingham County from his Cross Keys Road office, ranked at the #48 spot. The Top 50 producers were announced at a virtual ceremony held by Infinex Investments, Inc., in late May.

Photo of Calan Jansen

 

 

 

 

 

 

Securities offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Farmers & Merchants Financial Services, Inc. is a subsidiary of Farmers & Merchants Bank. Infinex is not affiliated with either entity.

Securities and Insurance Products:

Not Insured by FDIC or any Federal Government Agency May Lose Value Not a Deposit of or Guaranteed by the Bank or any Bank Affiliate

About Infinex Financial Group

In 2018, Infinex celebrated its 25th anniversary as an independent broker/dealer focused on serving the investment, insurance and wealth management needs of financial institutions.  Currently, Infinex supports over 230 community-based programs and more than 800 financial professionals.  The firm, headquartered in Meriden, Conn., with offices in Napa, Calif., and Midlothian, Va., has a unique history of being formed by financial institutions and owned by financial institutions. To learn more about Infinex Financial Group, visit www.infinexgroup.com.

About F&M Bank

F&M Bank (FMBM) proudly remains the only publicly traded organization based in Rockingham County, VA, and since 1908, has served the Shenandoah Valley with full-service branches and a wide variety of financial services including home loans through F&M Mortgage and real estate settlement services and title insurance through VSTitle. Both individuals and businesses find the organization’s local decision-making, and up-to-date technology provide the kind of responsive, knowledgeable, and reliable service that only a progressive community bank can. F&M Bank has grown to $1 billion in assets with more than 175 full and part-time employees. Its conservative approach to finances and sound investments, along with excellent customer service, has made F&M Bank profitable and continues to pave the way for a bright future.

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F&M Bank Opens New Location in Waynesboro, VA

Pictured above: 2020 Calendar Photo entry submitted by Makeba Robinson

NEWS RELEASE

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

Carolyn Burnett joins Commercial Banking Team

F&M Bank’s executive leadership is pleased to welcome Carolyn Burnett to its growing commercial team. Carolyn joins F&M Bank as Senior Vice President, Commercial Relationship Manager with a focus in Augusta County.

Carolyn Burnett

Carolyn brings a strong background to F&M with a Bachelor of Business Administration in Finance from James Madison University and over 14 years’ experience managing commercial banking relationships. In her role at F&M, Carolyn looks forward to working with business managers to understand their needs and help them to achieve their financial goals.” In her spare time, Carolyn serves on the board of directors for the Center for Nonprofit Excellence and on the loan advisory committee for the Community Investment Collaborative. She is also an active supporter and volunteer for the Blue Ridge Area Food Bank and Habitat for Humanity.

F&M Bank’s President and CEO, Mark Hanna commented, “As an experienced commercial banker serving the Valley market, Carolyn brings a wealth of knowledge and expertise to her role. We are excited to welcome her to our Augusta County team.”

John Sargent joins Commercial Banking Team

F&M Bank’s executive leadership is pleased to welcome John Sargent to its growing commercial team in Winchester/Frederick County.

For Immediate Release | April 16, 2021 | Timberville, VA ‐‐ F&M Bank’s executive leadership is pleased to welcome John Sargent to its growing commercial team. John joins F&M Bank as Vice President, Commercial Relationship Manager with a focus in Winchester and Frederick County.

John Sargent

John brings a strong background to F&M with over 14 years’ experience in the banking industry, the last eight focused in commercial banking. John graduated from Sherando High School and Longwood University, receiving a Bachelor of Science in Business Administration with a concentration in marketing, and a minor in psychology.

In his new role at F&M, John looks forward to being a trusted advisor and friend to local business owners in his community. “I enjoy supporting, educating, and advising business partners on the best way for them to see their business grow financially.  Establishing relationships with business owners is my top priority and I look forward to growing and supporting the Winchester Community.”

In his spare time, John participates as a member of New Life Christian Church in Winchester and volunteers as a coach for Frederick County National Little League.

“We are thrilled to welcome John to F&M Bank team,” said Mark Hanna, President & CEO. “The greater Winchester area is vibrant, boasting a thriving, local economy and is contiguous to our Shenandoah County footprint. As a Commercial Relationship Manager, John brings a wealth of knowledge to this role and we look forward to his continued success as part of the F&M family.”

 

About F&M Bank

F&M Bank (FMBM) proudly remains the only publicly traded organization based in Rockingham County, VA, and since 1908, has served the Shenandoah Valley with full-service branches and a wide variety of financial services including home loans through F&M Mortgage and real estate settlement services and title insurance through VSTitle. Both individuals and businesses find the organization’s local decision-making, and up-to-date technology provide the kind of responsive, knowledgeable, and reliable service that only a progressive community bank can. F&M Bank has grown to $1 billion in assets with more than 175 full and part-time employees. Its conservative approach to finances and sound investments, along with excellent customer service, has made F&M Bank profitable and continues to pave the way for a bright future.

For more information, please contact Holly Thorne, (540) 217-6409, marketing@fmbankva.com.

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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.