Farmers & Merchants State Bank Announces the Retirement of Edward A. Leininger, EVP & Chief Operating Officer

Rhea-AI Summary

Farmers & Merchants Bancorp (FMAO) announces key promotions and the retirement of COO Edward A. Leininger, effective June 1, 2022. Benét Rupp is promoted to Chief Administrative Officer, leading operations and HR. Shalini Singhal, as Chief Information Officer, will oversee M&A integrations. Alexis Smith becomes Chief People Officer, focusing on HR functions. Amy Cover is promoted to Chief Marketing Officer, and Molly Miller to Senior E-Banking and Product Lifecycle Manager. The CEO expressed gratitude for Leininger's service as the company continues its growth from $45 million in assets to over $2.6 billion.

Positive

• Promotions of key leadership positions enhance management team stability.
• Strong succession plan demonstrated by internal promotions, fostering talent retention.

Negative

• None.

• Benet Rupp Promoted to Chief Administrative Officer
• Shalini Singhal, Chief Information Officer, to Lead M&A Integrations
• Alexis Smith Promoted to Chief People Officer
• Amy Cover Promoted to Chief Marketing Officer
• Molly Miller Promoted to Senior E-Banking & Product Lifecycle Manager
  

ARCHBOLD, Ohio, June 01, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) announces the retirement of Edward A. Leininger EVP & Chief Operating Officer. F&M also announced several promotions as part of the Company’s established succession plan.

Lars Eller, President and CEO, stated, “On behalf of everyone at F&M, we want to thank Ed for his years of dedication and service. Ed began in the bookkeeping department when the Bank had two offices in Ohio and $45 million in assets. He has been an integral part of F&M’s success over the past 48 years, which has seen F&M grow to 30 offices and three LPOs across three states, and over $2.6 billion in assets. Ed has been a wonderful mentor, leader, and partner to our communities, and I wish him all the best in his well-deserved retirement.”

Mr. Eller continued, “Since becoming CEO in 2019, I have continually talked about the importance of attracting, developing, and retaining highly motivated, skilled, and committed talent. Today’s announcement promoting Benét, Shalini, Alexis, Amy, and Molly, reflects the strong team of experienced leaders we have assembled. I look forward to the expanded leadership and continued contributions each will bring to F&M.”

Benét Rupp Promoted to Chief Administrative Officer
As Chief Administrative Officer, Ms. Rupp will lead F&M’s operations, HR, strategic planning, and product development functions.   Ms. Rupp joined F&M in 2019 as SVP & Chief People Officer and has over 32 years of HR, consulting and progressive leadership experience. She has an MBA from The University of Toledo and a BS in I/O Psychology from Bowling Green State University.

Shalini Singhal, Chief Information Officer, to lead M&A Integrations
As Chief Information Officer, Ms. Singhal has assumed additional responsibilities associated with the Company’s M&A integration strategies and will continue to lead F&M’s IT strategy, Cybersecurity, systems and team. Ms. Singhal brings over 20 years of information technology and banking experience. Ms. Shalini has an MBA in Systems and Operations from the Institute of Management Technology in Ghaziabad, India.

Alexis Smith Promoted to Chief People Officer
As Chief People Officer, Ms. Smith will lead Human Resources for F&M inclusive of talent, learning, benefits, organization development and payroll. Ms. Smith joined F&M in 2020 as VP Talent and Organization Development. She has over 25 years of HR, training, and organization development experience across multiple industries. Ms. Smith has both a BA and MA in Classics from The University of Toledo.

Amy Cover Promoted to Chief Marketing Officer
As Chief Marketing Officer, Ms. Cover will lead marketing and brand strategy, communications and public relations across F&M’s footprint. Ms. Cover joined the Bank in July 2009 where she currently serves as VP Marketing Manager. Ms. Cover has a BA in Communications & Marketing and an MBA from Defiance College and attended the Graduate School of Banking at the University of Wisconsin – Madison.

Molly Miller Promoted to Senior E-Banking and Product Lifecycle Manager
As Senior E-Banking and Product Lifecycle Manager, Ms. Miller has assumed additional responsibilities to lead F&M’s product development and will continue to be responsible for the Company’s eCommerce programs. Ms. Miller joined F&M in 2013 most recently serving as VP Deposit Services Manager. She has over 23 years of product and technology experience. Ms. Miller has a BS from Bowling Green State University and attended the Graduate School of Banking at the University of Wisconsin – Madison.

About Farmers & Merchants Bancorp, Inc
The Farmers & Merchants State Bank is a local independent community bank that has been serving Northwest Ohio and Northeast Indiana since 1897. The Farmers & Merchants State Bank provides commercial banking, retail banking and other financial services. Our locations are in Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Williams, and Wood counties in Western Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties, and we have Loan Production Offices in West Bloomfield, Michigan; Muncie, Indiana; and Oxford, Ohio.

Safe harbor statement
Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

Company Contact:	Investor and Media Contact:
Lars B. Eller President and Chief Executive Officer Farmers & Merchants Bancorp, Inc. (419) 446-2501 leller@fm.bank	Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/48fccd13-0b41-40b1-aee4-2a7c8d16ef5d

https://www.globenewswire.com/NewsRoom/AttachmentNg/db1aa52f-fbda-4acd-a5fb-735cdfd76053

https://www.globenewswire.com/NewsRoom/AttachmentNg/cd2d404a-b177-4773-a97a-0284295c781c

https://www.globenewswire.com/NewsRoom/AttachmentNg/a86ebd0c-183c-454d-ab3a-923f39989294

https://www.globenewswire.com/NewsRoom/AttachmentNg/c9bc03bb-2486-49d5-8b27-80b3170059d7

FAQ

Who was promoted to Chief Administrative Officer at Farmers & Merchants Bancorp?

Benét Rupp has been promoted to Chief Administrative Officer.

What role will Shalini Singhal assume at Farmers & Merchants Bancorp?

Shalini Singhal will lead M&A integrations as Chief Information Officer.

Who is the new Chief People Officer at Farmers & Merchants Bancorp?

Alexis Smith is appointed as the Chief People Officer.

What is the significance of Edward A. Leininger's retirement for Farmers & Merchants Bancorp?

Leininger's retirement marks a transition period in leadership as the company continues to grow.

When did the leadership changes at Farmers & Merchants Bancorp take place?

The leadership changes were announced on June 1, 2022.