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Dear Valued Client, Dear Valued Client, As we settle into our 94th year serving you, our valued clients,

Aug 31, 2020




  • M i n n e s o t a S P R I N G 2 0 1 9 e-mail:

    Manchester 101 E Main St 563-927-4475

    Cedar Rapids 4000 1st Ave NE 319-366-8681

    Cedar Rapids 200 1st St SW 319-366-4040

    Anamosa 220 W Main St 319-462-6878

    Monticello 111 E 1st St


    Lino Lakes, MN 7641 Lake Dr 651-784-8000

    Vadnais Heights, MN 845 E County Rd E



    COOPER MORTGAGE TESTIMONIAL .................. 2

    WELCOME GRETCHEN OTTO ............. 2

    REGENCY CHOICE EVENTS ............................ 2

    CARD VALET .................... 3

    CONGRATULATIONS MARK............................... 3

    IT’S NOT TOO LATE TO CONTRIBUTE TO YOUR IRA ........................ 3

    BARB ROTARIAN OF THE YEAR ........................ 3

    SAVE THE DATE ............... 3

    MIKE MORAN ELECTED TO F&M BOARD OF DIRECTORS ..................... 4

    Dear Valued Client, As we settle into our 94th year serving you, our valued clients, 2019 appears to be another year of continued growth not only for F & M Bank, but also the local and national economies. This past year, we grew our assets by over $56 million much of this attributable to strong loan demand. Our loan portfolio experienced strong growth of over $73 million in 2018. Today, we have grown our assets in excess of $590 million throughout our eleven locations. On top of the asset growth, we have also been blessed with significant growth among our team. Many succession plans have been implemented, resulting in seamless transitions as well as internal promotions.

    Commercial clients continue to have a positive outlook after another solid year in 2018. With many beneficial changes to corporate taxation laws, companies are flush in cash and are operating with much less working capital debt. Multi-family and senior housing development remains strong in most markets, while construction and infrastructure investment also continues at a reasonable pace.

    Headwinds have not subsided in the agricultural industries. The ongoing tariff negotiations with China, increased international production of corn and soybeans causing low commodity prices, as well as high input costs continue to present challenges in all of our rural markets. Even with those challenges, there seems to be optimism that spring will bring with it some increased commodity prices.

    Single family housing construction has dipped to a two-year low but with that, mortgage interest rates have also fallen back into the low 4’s and high 3’s. An increase in overall construction costs and multi-family housing units have both contributed to this slow down. Having recently locked in low first mortgage interest rates, families are simply choosing to remodel using home equity lines of credit versus buying new homes.

    On a national scale, the Federal Reserve has acknowledged their willingness to slow down on future rate increases. In January, Federal Chairman Powell was quoted saying “The Fed will be flexible on policy and is in no hurry to raise interest rates.” Throughout the first quarter of 2019, the stock market has since rebounded and more than recovered from a bumpy finish in 2018. Tentative trade deals with Canada and Mexico, delays in additional Chinese tariffs and new talks on a Chinese trade agreement, have all added fuel to our economy. Low unemployment levels continue to challenge companies who are looking to add qualified workforce.

    The team members at F & M Bank continue to be our most important asset. Without their passion and drive to serve you, our valued clients, F & M Bank would be just like our competition. Our mission is to “Exceed Clients’ Expectations. ” The only way to make this possible is by investing in and providing our team with the necessary tools, education and quality work environment. We have also made a strategic and cultural decision to challenge one another throughout 2019, to shift our team’s collective mindset towards one with an outward focus.

    We are proud to be a locally owned community bank, serving the needs of our clients. We look forward to being your trusted financial advisors for many years to come.

    Wishing you much success and prosperity!


    Nathaniel W. Dunn President & CEO

  • 2

    F&M Bank Honored for Community Involvement for

    6th Consecutive Year!

    Gretchen Otto Joins The VH Team Originally from Michigan, Gretchen now resides in Little Canada with her husband Tom. In her free time, she likes to travel to see friends and family. Gretchen also enjoys participating in the Winter Carnival treasure hunt. She is part of a team that goes out every year looking for the Medallion and call themselves “Team Clueless.” Gretchen explains: “I guess that is why we have never found it yet, but there is always next year!” Welcome aboard Gretchen and good luck in next year’s Treasure Hunt.

    The Vadnais Heights Crew at Westfield Park

    The Lino Lakes crew putting together care packages

    ALL THE BEST OF THE GREAT NORTHWEST June 19th – 28th, 2019 Have you ever wished to: • See The Spruce Goose and

    restored WW2 fighter aircraft

    • Enjoy a guided tour of Timberline Lodge high on the slopes of Mount Hood

    • Visit the magnificent Multnomah Falls (2nd highest waterfalls in THE USA)

    • Tour the Boeing Aircraft Factory to view the 747, 777 and 787 Dreamliners

    • Take a jetboat cruise of the Lower Rogue River Estuary

    • Visit Mount St. Helens and get a feel for such a mighty volcano

    Join F&M Bank as we take in the above sites and more of the road- less-travelled areas of this beautiful coastline from San Francisco to Seattle. We have just a few places still available so contact Sue Peacock (763-957-5284) to make your reservation.

    ICELAND: LAND OF FIRE AND ICE October 2nd – 8th, 2019 Visit this fascinating land and discover the magic of what makes Iceland so geographically beautiful and fascinating. We will travel the South and take in the beautiful coastal scenery, witness the force of water in forms of the waterfalls, geysers and warm thermal lagoons. You will be up close and personal to nature, stand with one foot in Europe and one in America when visiting the techtonic plates as well as having the chance to witness the Northern Lights. You will leave enlightened and in awe of one of the world’s gems.

    Call Sue Peacock at 763-957-5284 or email to book your place by Friday, March 29th.

  • Barb Rexeisen received recognition to be Rotarian of the Year for the Chain of Lakes Rotary Club for 2018.


    It’s not too late to contribute to your IRA • 2018 contributions can be made until

    April 15, 2019

    • Maximum amount to contribute for 2019 is $6,000 or your total earned income, whichever is less

    • In addition, a $1,000 catch-up contribution is available for IRA owners that are 50 and older

    • If you contribute to a Traditional IRA and meet specific requirements, the full amount of your contribution will be deductible from your taxes

    • Contributions to a Roth IRA are not deductible, but if you meet certain requirements, your distributions can be tax-free


    Have Lunch with Us! Tuesday, June 18, 2019

  • 101 E Main St, Manchester, IA 52057 220 W Main St, Anamosa, IA 52205 4000 1st Ave NE, Cedar Rapids, IA 52402 200 1st St SW, Cedar Rapids, IA 52404 111 E 1st St, Monticello, IA 52310 7641 Lake Dr, Lino Lakes, MN 55014 845 E County Rd E, Vadnais Heights, MN 55127

    PRSRT STD U.S. Postage

    PAID Permit No. 54 Belmond, IA


    Mike Moran Elected to F & M Bank Board of Directors At the F & M Bank December board meeting, Michael C. Moran was unanimously appointed to the Board of Directors of the Bank.

    Director Moran is the owner of Janda Motor Services, which is a 60-person industrial services company with locations in Cedar Rapids and Davenport. He also owns Four-Most, Inc. based out of Peoria, IL. Prior to acquiring Janda Motor Services in 2002, Moran participated in the management and eventual sale of television stations, the last one being the CBS affiliate for eastern Iowa, KGAN. Michael is a graduate of the University of Iowa. His past and present civic commitments include the Big Brothers/Sisters Board of Trustees, Cedar Rapids Area Chamber of Commerce, CR Kennedy High School PTA, St. Elizabeth Ann Seton Finance Committee and the University of Iowa School Of Journalism School Advisory Board. Mike and his wife Anne Marie live in Cedar Rapids and are proud parents of two children, Quinlan (23 yrs old) and Regan (18 yrs old).

    President Nate Dunn is pleased to have Moran on the Board.

    “Mike brings years of experience to our board as well as a unique

    perspective that we can draw from. We are excited to have him.”

    About F & M Bank – A locally owned institution for 93 years, F & M Bank has experienced prudent and strategic growth with total assets in excess of $520 million. F & M continues to serve Manchester, Cedar Rapids, Anamosa, Monticello, Eagle Grove, Goldfield, Clarion, Lino Lakes MN and Vadnais Heights MN.