For the second year in a row, F&M Bank is proud to claim the top spot in deposit share in the Harrisonburg-Rockingham County market. The Federal Deposit Insurance Corp.’s most recent data show that F&M Bank topped all banks in the metropolitan statistical area (MSA) for deposits held.
As of June 30, 2018, F&M Bank held $440.3 million in deposits for customers in its eight Rockingham branches, or 18.75 percent of the total market. That represented a $23.8 million increase over the previous year.
Mark Hanna, President and CEO, states, “Holding the top spot in the MSA is an extremely important accolade, especially as we engage with shareholders and potential investors. This accomplishment speaks to our bank’s integrity and deep-rooted history in Rockingham County. Our community sees value in supporting a local, financial institution.”
In 2017, F&M Bank unseated large regional and national financial institutions to claim the top spot, and it is quite an accomplishment for a small, community bank to maintain this position. Bank leadership credits success to the institution’s ability to reflect the changing demographics of the community.
The bank broadened its reach to the younger business community by developing a community advisory board to draw candid feedback from active community members and business leaders under 40. Holly Thorne, Marketing Director, states, “The advisory board members are our community, and F&M understands the value they bring to the table. It’s a logical choice and natural fit to engage them in helping to shape our bank’s future.”
Media Contact: Neil Hayslett, EVP/Chief Operating Officer 540-896-8941 or NHayslett@FMBankVA.com