F&M Bank Realigns Organizational Structure to Support Future Growth
26 10월 2023 - 2:17AM
F&M Bank (“F&M”), an Archbold, Ohio-based community bank
owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO)
announced several organizational changes to achieve strategic goals
and ambitions for the future of the organization.
Lars Eller, President and Chief Executive
Officer stated, “As we look forward and set strategic goals for
2025, we see the need to adjust our organizational structure.
F&M met its strategic goal set in 2020 of surpassing $3 billion
in assets. We are on a new path to grow to $5 billion in total
assets by 2025. To support our growth plan, it is important to
expand our focus on our financial reporting, investor relations,
cash management and retail bank operations. These are exciting
changes and set F&M up to be successful and scalable as we
continue to grow.”
Barbara Britenriker, EVP/Chief Financial
Officer for F&M Bank and Farmers & Merchants Bancorp,
Inc.As Chief Financial Officer for both F&M Bank and
Farmers & Merchants Bancorp, Inc., Barb will lead the redesign
of the Company’s finance capabilities to support a bank with $5
billion in total assets. Her expanded focus will be on financial
reporting, cash management, financial systems, and investor
relations.
Katrina DeGroff, SVP/Chief Accounting
OfficerAs Chief Accounting Officer, Katrina will be
accountable for all financial reporting on Farmers & Merchants
Bancorp, Inc. and its subsidiaries, as well as valuation,
verification, and strategic planning initiatives.
Andrew Baker, SVP/Chief Retail Banking
Officer and Regional President of Northern IndianaIn his
expanded role, Andy will be responsible for leading all aspects of
F&M’s community-based retail bank operations, including the
Company’s branch network, mortgage line of business and private
banking. He will retain his position as Regional President of
Northern Indiana.
Taryn Marino, SVP/Deputy Chief Retail
Banking OfficerAs the Deputy Chief Retail Banking Officer,
Taryn will report to Andy supporting the strategic goals of
F&M’s retail banking operations. Taryn will have a direct
impact on implementing strategies to achieve growth, profitability,
and operational efficiency, while enhancing F&M’s customer
experience.
About F&M Bank: F&M
Bank is a local independent community bank that has been serving
its communities since 1897. F&M Bank provides commercial
banking, retail banking and other financial services. Our locations
are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas,
Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana,
we have offices located in Adams, Allen, DeKalb, Jay, Steuben and
Wells counties. The Michigan footprint includes Oakland County, and
F&M has Loan Production Offices in West Bloomfield, Michigan;
Muncie, Indiana; and Bryan, Ohio.
Safe harbor statementPrivate
Securities Litigation Reform Act of 1995. Statements by F&M,
including management’s expectations and comments, may not be based
on historical facts and are “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21B of the Securities Exchange Act of 1934, as amended.
Actual results could vary materially depending on risks and
uncertainties inherent in general and local banking conditions,
competitive factors specific to markets in which F&M and its
subsidiaries operate, future interest rate levels, legislative and
regulatory decisions, capital market conditions, or the effects of
the COVID-19 pandemic, and its impacts on our credit quality and
business operations, as well as its impact on general economic and
financial market conditions. F&M assumes no responsibility to
update this information. For more details, please refer to
F&M’s SEC filing, including its most recent Annual Report on
Form 10-K and quarterly reports on Form 10-Q. Such filings can be
viewed at the SEC’s website, www.sec.gov or through F&M’s
website www.fm.bank.
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Company Contact: |
Investor and Media Contact: |
Lars B. EllerPresident and Chief Executive Officer Farmers &
Merchants Bancorp, Inc.(419) 446-2501 leller@fm.bank |
Andrew M. BergerManaging DirectorSM Berger & Company, Inc.
(216) 464-6400andrew@smberger.com |
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