BANCSHAR FARMERS AND MERCHANTS – GuruFocus.com

Hampstead, Maryland, May 24, 2022 (GLOBE NEWSWIRE) — – The Boards of Directors of Farmers and Merchants Bancshares, Inc. (the “Company”) and Farmers and Merchants Bank (the “Bank”) announce that Gary A. Harris was chosen as the next president and CEO. Mr. Harris will replace James R. Bosley, Jr. who announced in January that he would retire at the end of 2022. The board conducted an extensive search with the assistance of Kaplan Partners, a recruitment firm executives based in Philadelphia. The search spanned the entire East Coast as bankers from Atlanta to Boston were interviewed. Mr. Harris will only be the fifth president in the Bank’s 102-year history.

Mr. Harris’ banking career began in 1990. He joined the Bank in 2008 as Vice President – ​​Corporate Services. In 2016, he was promoted to Senior Vice President – ​​Business Banking. In 2021, he was promoted to Executive Vice President – ​​Chief Loan Officer. During his 14-year career at the Bank, Mr. Harris was consistently one of the Bank’s top producers. He currently sits on the Executive Committee, Strategic Growth Committee, Asset Liability Committee and Executive Loans Committee. He holds a bachelor’s degree in economics from Towson State University.

Mr. Harris will become President of the Company and the Bank effective July 1, 2022. Mr. Bosley will remain the Chief Executive Officer of the Company and the Bank until his retirement on December 31, 2022. On January 1, 2023, Mr. Harris to become President and Chief Executive Officer of the Company and the Bank.

Bruce Schindler, Chairman of the Company’s and Bank’s Boards of Directors, said, “After extensive research, the Board is very confident in its selection of Gary Harris as its next Chairman. Mr. Harris demonstrated strong leadership qualities while being one of the Bank’s top producers for many years. The board looks forward to working with him.

About the company

The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 102 years of service to the community. The Bank serves the deposit and financing needs of consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140 and Route 26 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster and Eldersburg. Farmers and Merchants Bancshares, Inc. common stock is traded by certain broker-dealers and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

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