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F&M Bank maintains Montgomery County Deposit Market

 

Share Lead; Takes over Top Spot in Stewart County

F&M BankClarksville, TN – F&M Bank continues to be the top bank in Montgomery County in deposits according to a newly published report released this week by the Federal Deposit Insurance Corporation. The report, which tracks all 11 FDIC-insured institutions in Montgomery County, shows F&M holds $389 million or 17.23 percent of local deposits. This is the 12th consecutive year F&M has claimed the number one spot in the intensely competitive Montgomery County market.

Overall, deposits in Montgomery County rose by 3.1 percent to $2.2 billion for the year through June 30th, which is slightly below the national average increase of 3.8 percent. Despite the increase in deposits, the deposit market share ranking among local institutions remains the same as last year.

Sammy Stuard, F&M Bank President and CEO.

Sammy Stuard, F&M Bank President and CEO.

Following F&M Bank in share of local deposits are First Advantage Bank (14.29 percent), Planters Bank (13.86 percent), U.S. Bank (11.15 percent), Bank of America (10.83 percent), Regions Bank (9.83 percent), Legends Bank (9.63 percent), Cumberland Bank and Trust (6.36 percent), Capital Bank (4.12 percent), Heritage Bank (2.66 percent) and Fort Sill National Bank (0.03 percent).

Sammy Stuard, president and CEO of F&M Bank, credits F&M Bank’s continuous market leadership to a combination of high-touch service, commitment to staying current with evolving technology and investment in the local community.

“As a bank headquartered in Montgomery County, we are pleased and honored to be this community’s leading depository bank,” commented Stuard,  “However, we find even greater fulfillment as community bankers by providing financial expertise and services that are of benefit to local families and businesses.”

With assets of over $860 million as of June 30th, and 15 offices throughout Middle Tennessee, F&M Bank ranks as the 18th largest deposit holder in the state among Tennessee-headquartered banks.

In addition to its success in Montgomery County, F&M ascended to the top market share position in Stewart County with $72.4 million or 47.03 percent of deposits, according to the same FDIC report.

These totals represent a 6.21 percent improvement in F&M’s market share of deposits, surpassing Regions Bank, which has held the Stewart County top position for many years.

In addition to operating full service locations in Montgomery, Stewart, Robertson, Rutherford, Sumner, Wilson and Putnam counties, F&M operates mortgage services locations in Davidson and Williamson counties.

More information about F&M Bank can be found at www.myfmbank.com or www.facebook.com/myfmbank


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