Business briefs 2/2

February 05, 2003

Holiday Inn Express

The Holiday Inn Express Hotel and Suites has achieved the American Automobile Association's three-diamond rating.

The hotel opened to guests in August 2001.

More than 42,000 properties are evaluated each year to determine Diamond status. Each property undergoes an unannounced evaluation and properties receiving a Three Diamond for the first time are generally reviewed at least twice.

F&M Bancorp

FREDERICK, Md. - The Board of Directors of F&M Bancorp declared a regular quarterly cash dividend of 29 cents per share for the first quarter of 2003.

That represents an increase of 1 cent per share over the fourth quarter of 2002.

The dividend is payable Feb. 15 to shareholders of record as of the close of business on Feb. 1.

F&M announced diluted earnings per share of 58 centsfor the fourth quarter of 2002, up 16 percent from the previous year. Net income was $6.3 million, up 16 percent from $5.4 million in the fourth quarter of 2001.


For the full year 2002, net income was a record $24.5 million, up 16 percent from the previous year. Diluted earnings per share increased 17 percent to $2.25 per share, compared with $1.92 per dilutive share in 2001.

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