F&M Bancorp completes acquisition of MonocacyF&M Bancorp...

Business Digest

December 07, 1998

F&M Bancorp completes acquisition of Monocacy

F&M Bancorp, parent company of Farmers & Mechanics National Bank, with headquarters in Frederick, has completed its acquisition of Monocacy Bancshares Inc., with headquarters in Taneytown. Also completed was the merger of F&M and its principal subsidiary, Taneytown Bank & Trust Co., into Farmers & Mechanics National Bank.

Eric E. Glass, chairman, and Donald R. Hull, vice chairman, of the board of directors of Monocacy Bancshares will join the boards of directors of F&M Bancorp and Farmers & Mechanics National Bank.

On Nov. 30, F&M Bancorp common stock was valued at $33.696 per share. Combined financial statements of F&M Bancorp and Monocacy Bancshares showed total assets of $1.410 billion and total deposits of $1.086 billion.

Farmers & Mechanics National Bank will operate 35 full-service community offices and 38 automated teller machines in Howard, Carroll, Frederick, Montgomery and Baltimore counties, and in Adams County in Pennsylvania.

Laurel design studio wins several graphics awards

Dever Designs of Laurel, a graphics design studio, has won several awards in the Creativity 28 Competition for the graphics design industry.

Of the more than 7,000 entries submitted, 1,344 pieces were chosen for publication in the full-color hardbound annual book on print advertising, television and other areas.

Dever received awards for four graphic design layouts in American Style magazine, Liberty magazine and Family Therapy Networker magazine.

Dever Designs has been based in Laurel for 14 years.

People

Bob Berndt, of Saval Foods Corp., headquartered in Elkridge, has been promoted to vice president of sales. He has been sales manager of the company since 1994. Berndt will be responsible for coordinating the work of the sales department and enlarging the distribution arm of Saval Foods.

Carroll A. Naik has been promoted to assistant vice president of the human resources department at CFBank, a Howard County-based bank.

She will be responsible for recruiting and hiring, as well as benefits administration, employee relations, compensation administration and the management of personnel policies. The Mount Airy resident will be based at the bank's main office in Ellicott City.

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