F&M Bank Tops Deposits In Rockingham County

  • Share:
November 06, 2018
F&M Bank Tops Deposits In Rockingham County
DNR   11/6/18
TIMBERVILLE — For the second year in a row, Farmers & Merchants Bank reports that it holds the top spot in deposit share in the Harrisonburg-Rockingham County market.
The bank, in a press release, stated that the Federal Deposit Insurance Corp.’s most recent data show that F&M Bank topped all banks in the metropolitan statistical area for deposits held.
As of June 30, F&M Bank held $440.3 million in deposits for customers in its eight Rockingham branches, or 18.75 percent of the total market, according to the release. That represented a $23.8 million increase over the previous year, the bank reported.
The Timberville-based bank cited efforts made to reach out to business leaders under 40 through a community advisory board as one factor for its top ranking in area deposits.
Farmers & Merchants Bank, a subsidiary of F&M Bank Corp., has 13 branches in Rockingham, Shenandoah, Page and Augusta counties.
According to the release, F&M Bank has more than $770 million in total assets and more than 175 full and part-time employees.