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F&M Bank maintains market share top spot in Montgomery County and MSA

F&M BankAccording to reports just issued by the FDIC, F&M Bank has maintained its number one ranking for total deposits in Montgomery County for the sixth year in a row. F&M increased its market share in Montgomery County to 19.52% of total deposits, an increase of .56% over last year. According to the 2009 FDIC reports of deposits through June 30, 2009, Regions Bank ranked number two with 13.43%, while Legends Bank held the number-three position with 12.26%. Other banks with double-digit market share in Montgomery County include First Federal with 12.17%, U.S. Bank with 11.49% and Bank of America with 11.15%.

F&M Bank also maintained its number one deposit ranking for the entire Clarksville-Hopkinsville Metropolitan Statistical Area (MSA), which includes Stewart County, Tenn., and Trigg County, Ky. In 2009, F&M’s deposit market share rose to 13.74%, up from 13.65% in 2008. Planters ranks number two with 11.12% and Regions rose to 10.24%, taking the number three spot away from BB&T. The FDIC issues deposit market share reports on all federally insured institutions annually.

Sammy Stuard
Sammy Stuard

Sammy Stuard, F&M Bank’s president and CEO, credits the bank’s growth to the community’s confidence. “Even with the negative publicity that has surrounded many banks during these tough economic times, F&M’s solid reputation in Montgomery and Stewart County continues to attract new business,” Stuard remarked. “F&M Bank has strong history here and our employees have earned the trust and loyalty of our customers. Luckily for us, word-of-mouth support for F&M has made a huge difference in garnering new personal and business banking clients,” he said.

About F&M Bank

F&M Bank has grown from a small community bank in Bumpus Mills, Tenn., to one of the premier financial institutions in the Middle Tennessee. Since moving their headquarters to Clarksville in 1989, bank assets have grown from $22 to over $760 million, ranking them among the top 15 independent banks in the state. F&M Bank recently expanded their banking network into Cookeville and opened a mortgage office in Brentwood’s Maryland Farms. F&M Bank has 15 full-service banking locations, including their five Clarksville and two Stewart County offices. Additional information regarding F&M Bank can be found at www.myfmbank.com.

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