F&M Bancorp reports quarterly earnings boost F&M...

Business Notes

January 27, 2002

F&M Bancorp reports quarterly earnings boost

F&M Bancorp of Frederick has announced a net income of $5.42 million for the fourth quarter of 2001, a 12 percent increase over the same period in 2000.

Net income for 2001 totaled $21.1 million, an increase of 9 percent over 2000.

Total assets as of Dec. 31 were $1.88 billion, up from about $1.8 billion Dec. 31, 2000.

The board of directors declared a quarterly dividend of 28 cents per share on Dec. 18, payable to shareholders of record Jan. 4.

F&M Bancorp has offices in Carroll and surrounding Baltimore-area counties.

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