F&M Bank

Two new directors were elected to the Boards of Directors of F&M Financial Corporation, F&M Bank and F&M Investment Services Inc. during the annual meeting of shareholders Thursday. Charles Clifford “Cliff” Ritchie and Robert “Bob” V. Honeycutt III were each elected to a three-year term beginning this year.

Ritchie is the president and CEO of Cheerwine Bottling Company and Carolina Beverage Corporation. He is a native of Rowan County and a graduate of Lenoir Rhyne University. Since returning to Salisbury to work in the family business, Ritchie has overseen the unprecedented growth of the Cheerwine brand and its affiliated bottling operations. Ritchie and his wife, Amy, have three children and reside in Salisbury.

Honeycutt serves as executive vice president and chief credit officer of F&M Bank. A native of Rowan County and a graduate of UNC Chapel Hill, he returned to his hometown in 1999 and joined F&M Bank following a successful career with SunTrust Bank in Atlanta, Georgia. Honeycutt and his wife, Leah Ann, are the parents of three children and reside in Salisbury.

“We are very fortunate to add two individuals with such a high level of integrity and experience. Cliff has been a longtime community leader and has tremendous depth in running a successful closely-held business. Bob brings a wealth of banking and finance experience along with a passion for this community. They are excellent additions to the F&M Board and the extended F&M family,” said Steve Fisher, CEO of F&M Financial Corporation.

During the meeting, J. Steven Fisher was elected as chairman of the board of F&M Financial Corporation, F&M Bank and F&M Investment Services, Inc. Mr. Fisher is a graduate of UNC-Chapel Hill with a Bachelor of Science in Business Administration and Wake Forest University with a Juris Doctor and Master of Business Administration. He joined the F&M bank board in May 1995 and the bank as General Counsel in 1997. He currently serves as president and CEO of F&M Financial Corporation, F&M Bank and F&M Investment Services Inc. Fisher and his wife, Robin, have three sons and reside in Salisbury.

Paul Fisher was elected as chairman emeritus and will remain active in community and economic development initiatives. Fisher began at the bank in 1960 after graduating from UNC Chapel Hill and will celebrate his 55-year service anniversary with F&M Monday. Fisher and his wife, Sue, have two children and 10 grandchildren and reside in Salisbury.

F&M Bank was established in 1909 in the town of Granite Quarry. The bank has grown to over $500 million in assets with 11 branches in Rowan and Cabarrus counties and operates throughout the Piedmont and the Research Triangle area.