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F&M purchases four bank branches in Eastern Panhandle

November 27, 2001

F&M purchases four bank branches in Eastern Panhandle



By KEVIN VERZICH / Staff Writer


MARTINSBURG, W.Va. - New ownership will be assumed in early December for four bank branches in Martinsburg and Inwood, W.Va.

William J. Reuter, president and chief executive officer of Susquehanna Bancshares, Inc., announced Monday in a prepared statement that Farmers & Merchants Bank and Trust, a subsidiary of Susquehanna, will acquire four branch offices from F&M Bank-West Virginia on Dec. 7.

After the purchase, Farmers & Merchants Bank and Trust, with headquarters in Hagerstown, will have assets of more than $700 million. The newly purchased banks will assume the name of their new owner, Farmers & Merchants Bank and Trust.

Alison Van Harskamp, communication director for Susquehanna Bancshares, said the four locations will include the Martinsburg branch offices at 301 Burke St., 704 Foxcroft Ave. North, 800 Foxcroft Ave., and a branch in Inwood at 5091 Gerrardstown Rd.

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Van Harskamp said that due to system transitions, the newly acquired branch offices will be closed at 2 p.m. on Dec. 7 and will reopen Dec. 8. She said the automated teller machines will be out of service beginning at 9 a.m. Dec. 7 and should be available for use by 2 p.m. Dec. 8.

"Our vision is to expand by seeking opportunities to enter markets that demographically and geographically complement our franchise," said Reuter in a prepared statement. "We believe the Eastern Panhandle of West Virginia market extends us further along the I-81 growth corridor into a market which has tremendous potential for our products and services."

Van Harskamp said account changes for customers of F&M Bank-West Virginia at the four purchased branches will become effective on Dec. 8 She said customers were notified of the purchase in October and received a detailed account conversion guide from Farmers & Merchants Bank and Trust in November.

Customers of the four branches who have questions may call 304-264-5000 or visit the bank's Web site at www.fmbt.com.

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