SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OFJuly ~~THE~~7, ~~SECURITIES EXCHANGE ACT OF 1934~~2003

April 24, 2003

F&M BANCORP

(Exact name of registrant as specified in its charter)

Commission file number 0-12638

Maryland		52-1316473
(State or other jurisdiction of		(I.R.S. Employer
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
incorporation or organization)		Identification No.)
110 Thomas Johnson Drive Frederick, Maryland 21702
(Address of principal executive offices) (Zip Code)
(301) 694-4000
(Registrant’s telephone number, including area code)

110 Thomas Johnson Drive

Frederick, Maryland 21702

(Address of principal executive offices) (Zip Code)

(301) 694-4000

(Registrant’s telephone number, including area code)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

April 24, 2003	/s/ FAYE E. CANNON
	Faye E. Cannon
	PRESIDENT & CHIEF EXECUTIVE OFFICER

ITEM 5. Other Event and Regulation FD Disclosure

~~FOR~~July ~~IMMEDIATE RELEASE April 24~~7, 2003

~~Baltimore~~F&M ~~and~~Bancorp ~~Frederick,~~Announces ~~Maryland~~Mailing of Mercantile Bankshares Corporation Merger Materials

~~MERCANTILE~~Kaye ~~BANKSHARES~~A. ~~CORPORATION~~Simmons, ~~AND~~Executive ~~F&M~~Vice ~~BANCORP ANNOUNCE~~President ~~BANK~~& ~~NAMES AND MANAGEMENT TEAMS FOR MERCANTILE’S FREDERICK AND WESTERN~~Chief ~~MARYLAND~~Financial ~~AFFILIATES~~Officer

As part of Mercantile Bankshares Corporation’s [Nasdaq: MRBK] intended acquisition of F&M Bancorp [Nasdaq: FMBN], both companies today announced the bank names and management teams for what will become Mercantile’s Frederick and Western Maryland affiliates.301-694-4000

~~The new Frederick County affiliate of Mercantile Bankshares will combine Mercantile’s existing affiliate, Fredericktown Bank, and the Frederick County branches of Farmers & Mechanics Bank~~www. ~~The resulting bank will be called Farmers & Mechanics Bank~~fmbn. Upon the closing of the acquisition after receipt of the required shareholder and regulatory approvals, O. James Talbott II, Senior Vice President of Mercantile Bankshares, will become Chairman and CEO of the new combined Farmers & Mechanics Bank affiliate. “Jim has worked with the community bank affiliates for the past 26 years and for several years ran the former Belair National Bank, one of our three charter member bank affiliates,” said Edward J. Kelly III, Chairman and CEO of Mercantile Bankshares Corporation. “I am delighted that Jim has agreed to take on this important role. He is uniquely suited to lead the new organization; he knows our business model, our banks and their markets well.”com

~~Several~~FREDERICK, ~~Farmers~~MD, &July ~~Mechanics~~7, ~~Bank~~2003 ~~executive~~– F&M Bancorp (NASDAQ:FMBN), ~~officers~~headquartered ~~will~~in ~~have~~Frederick, ~~key~~Maryland, ~~roles~~today announced that in ~~the~~accordance ~~new~~with its ~~organization. David~~merger R.agreement ~~Stauffer~~with Mercantile Bankshares Corporation (Nasdaq: MRBK), proxy ~~currently~~materials ~~Senior~~relating ~~Executive~~to ~~Vice~~a ~~President~~special ~~and Chief~~meeting ~~Operating~~of ~~Officer,~~stockholders ~~will~~to ~~become~~be ~~Vice~~held ~~Chairman~~on August 6, 2003 for purposes of approving the ~~Board~~proposed ~~and~~merger ~~play~~have abeen mailed ~~senior~~today ~~role~~to ~~with~~F&M ~~respect~~Bancorp tostockholders ~~clients~~of record on June 27, in2003. The ~~addition~~package toof ~~helping~~materials usalso ~~manage~~includes ~~the~~forms ~~nonbank~~for ~~business~~F&M ~~lines~~Bancorp instockholders ~~which~~to ~~Farmers~~elect &to ~~Mechanics~~receive ~~Bank~~cash, ~~will~~shares beof ~~engaged. Kaye~~Mercantile Bankshares A.Corporation ~~Simmons~~common stock, ~~Executive~~or ~~Vice~~both, ~~President~~as merger consideration. ~~and~~Shareholders ~~Chief~~who ~~Financial~~do ~~Officer,~~not ~~will~~receive ~~hold~~merger ~~these~~consideration ~~positions~~election materials within a ~~the~~reasonable ~~new~~period of time, as well as persons who become holders of F&M ~~organization~~Bancorp common stock after June 27, ~~and~~may ~~Executive~~contact ~~Vice~~the ~~President~~Exchange ~~Stephen~~Agent, K.American Stock ~~Heine~~Transfer & Trust Company, ~~currently~~at ~~Director~~1-877-248-6417 (toll free), to request a copy of ~~Sales~~the ~~and~~election ~~Marketing,~~materials. Beneficial owners will ~~head~~receive ~~Commercial~~such materials from their nominee holders and ~~Retail~~should contact ~~Banking. David~~their L.nominee ~~Hoffman,~~holders ~~currently~~if ~~the~~they ~~Senior~~do ~~Vice~~not receive such materials within a ~~President~~reasonable period of ~~Commercial~~time. ~~Loan~~The ~~Administration~~deadline atfor ~~Fredericktown~~returning ~~Bank,~~forms ~~will~~to ~~become~~elect the type ~~Executive~~of ~~Vice~~merger ~~President~~consideration ~~and~~a ~~Chief~~stockholder ~~Credit~~wishes ~~Officer~~to ~~for~~receive ~~the~~is ~~new~~5:00 ~~Farmers~~P.M., &New York ~~Mechanics~~City ~~Bank~~Time, on August 11, 2003.

InF&M ~~Washington and Allegany counties~~Bancorp, ~~Mercantile’s existing~~with ~~affiliate,~~assets ~~Fidelity Bank, headquartered~~ in ~~Frostburg,~~excess ~~Md.,~~of ~~will~~$2 bebillion, ~~combined~~is ~~with~~a ~~Farmers~~bank &holding ~~Mechanics’~~company ~~affiliate Home Federal to create an expanded Western Maryland affiliate that will be called Fidelity Bank and will be~~ headquartered in ~~Hagerstown. J. Brian Gaeng~~Frederick, ~~current~~Md. ~~CEO~~Farmers of& Mechanics ~~Fredericktown~~ Bank, ~~will become the President~~ and ~~CEO~~ ofits ~~this new combined organization. C. Joseph Cunningham~~affiliate, ~~currently~~Home ~~President and CEO of Fidelity Bank~~Federal, ~~will become~~operate ~~the~~48 ~~Executive~~banking ~~Vice~~offices ~~President with continued responsibility for the~~in ~~greater~~Frederick ~~Cumberland~~County and ~~Frostburg~~six ~~markets~~contiguous counties.

~~The~~In ~~Farmers~~connection &with ~~Mechanics~~the ~~offices~~proposed ~~currently~~transaction, ~~located~~F&M ~~outside~~Bancorp ~~Frederick~~and ~~County~~Mercantile ~~will~~have befiled ~~integrated~~a ~~into~~proxy ~~several~~statement/prospectus ~~Mercantile~~with ~~affiliates~~the U.S. ~~based~~Securities onand ~~geography~~Exchange Commission (the “SEC”). ~~The~~ ~~Carroll~~Investors ~~County offices~~and ~~will~~security ~~become~~holders are ~~part~~advised ofto ~~Westminster~~read ~~Union~~the ~~Bank~~proxy statement/prospectus, ~~headquartered~~because init contains ~~Westminster,~~important Mdinformation.; ~~Montgomery~~Investors ~~County~~and ~~offices~~security ~~will~~holders bemay ~~integrated~~obtain ~~into~~a ~~Potomac~~free copy of ~~Valley~~the ~~Bank,~~proxy ~~headquartered~~statement/prospectus inand ~~Gaithersburg,~~other Mddocuments filed by F&M Bancorp and Mercantile with the SEC at the SEC’s web site at http://www.;sec.gov. In ~~Howard~~addition, ~~County~~investors ~~offices~~and ~~will~~security beholders ~~integrated~~may ~~into~~obtain ~~Citizens~~free ~~National~~copies ~~Bank~~of the documents filed with the SEC by F&M Bancorp by contacting Kaye Simmons, ~~headquartered~~F&M inBancorp, ~~Laurel~~110 Thomas Johnson Drive, MdFrederick, MD 21702, telephone 888-694-4170 or from F&M Bancorp’s website at www.;fmbn.com. Investors and ~~Baltimore~~ ~~County~~security ~~offices~~holders ~~will~~may ~~become~~obtain ~~part~~free copies of the documents filed with the SEC by Mercantile~~-Safe~~ ~~Deposit~~by ~~and~~contacting ~~Trust~~David Borowy, ~~Company~~Mercantile Bankshares Corporation, ~~headquartered~~Two inHopkins Plaza, Baltimore, MD 21201, telephone: (410) 237-5900.

2Signatures

~~Mercantile~~Pursuant ~~Bankshares~~to ~~Corporation,~~the ~~with~~requirements ~~assets in excess~~ of ~~$11~~the ~~billion,~~Securities isExchange aAct ~~multibank~~of ~~holding~~1934, the ~~company~~Registrant ~~headquartered~~has ~~in Baltimore. It~~duly ~~has~~caused 16this ~~banking~~report ~~affiliates in~~to ~~Maryland,~~be ~~one~~signed ~~banking~~on ~~affiliate~~its inbehalf ~~Delaware~~by ~~and~~the undersigned ~~three~~thereunto induly ~~Virginia~~authorized.

F&M Bancorp, with assets in excess of $2 billion, is a bank holding company headquartered in Frederick, Md. Farmers & Mechanics Bank and its affiliate, Home Federal, operate 48 banking offices in Frederick County and six contiguous counties.

July 7, 2003		/s/ KAYE A. SIMMONS
		Kaye A. Simmons
		Executive Vice President & Chief Financial Officer

~~The transaction is subject to approval by the F&M Bancorp shareholders and the relevant bank regulatory agencies.~~2

F&M and Faye E. Cannon, F&M’s President and Chief Executive Officer, and certain of F&M’s other executive officers and directors may be deemed to be participants in the solicitation of proxies from the stockholders of F&M in favor of the Merger. The other executive officers and directors of F&M who may be participants in the solicitation of proxies in connection with the Merger have not been determined as of the date of this filing. A description of the interests of Ms. Cannon and F&M’s other executive officers and directors in F&M is set forth in the proxy statement for F&M’s 2002 Annual Meeting of Stockholders, which was filed with the SEC on March 14, 2002. In addition to those interests (i) Ms. Cannon and David R. Stauffer will receive, at the closing time of the Merger, cash payments in respect of foregone option grants of F&M common stock, (ii) Mercantile will maintain a split-dollar life insurance policy for James L. Hogan, (iii) certain executive officers, including Ms. Cannon, may be entitled to receive lump sum payments of amounts due under certain individual severance agreements or under the FMNB Executive Supplemental Income Plan, (iv) two members of F&M’s current board of directors, who have not been named as of the date of this filing, will become directors of Mercantile following the Merger, (v) four members of F&M’s current board of directors, who have not been named as of the date of this filing, will become directors of a wholly-owned subsidiary bank of Mercantile following the Merger, (vi) a wholly-owned subsidiary bank of Mercantile will form an advisory board which will include all members of F&M’s current board of directors, each member will serve for an initial term of four years at a rate of $15,000 per year, (vii) each executive officer will be entitled to receive reimbursement for tax advice and financial planning, subject to a limit of $5,000 per executive and (viii) each of the F&M’s directors will receive a lump sum payment of $21,000 under the Unfunded Deferred Compensation Plan for Non-Employee Directors when such director ceases to be a member of F&M’s board. If and to the extent that Ms. Cannon and Messrs. Stauffer and Hogan will receive any additional benefits in connection with the Merger that are unknown as of the date of this filing, the details of such benefits will be described in the proxy statement/prospectus. Investors and security holders may obtain more detailed information regarding the direct and indirect interests of Ms. Cannon and Messrs. Stauffer and Hogan and F&M’s other executive officers and directors in the Merger by reading the proxy statement/prospectus when it becomes available.

ADDITIONAL INFORMATION ABOUT THE MERGER

AND WHERE TO FIND IT.

F&M and Mercantile intend to file with the SEC a proxy statement/prospectus and other relevant materials in connection with the Merger. The proxy statement/prospectus will be mailed to the stockholders of F&M. Investors and security holders of F&M and Parent are urged to read the proxy statement/prospectus and the other relevant materials when they become available because they will contain important information about F&M, Mercantile and the Merger. The proxy statement/prospectus and other relevant materials (when they become available), and any other documents filed by F&M or Mercantile with the SEC, may be obtained free of charge at the SEC’s web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by F&M by contacting Kaye Simmons, F&M Bancorp, 110 Thomas Johnson Drive, Frederick, MD 21702, telephone 888-694-4170 or from F&M’s website at www.fmbn.com. Investors and security holders may obtain free copies of the documents filed with the SEC by Mercantile by

contacting David Borowy, Mercantile Bankshares Corporation, Two Hopkins Plaza, Baltimore, MD 21201, telephone: (410) 237-5900. Investors and security holders are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the Merger.

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