CLARKSVILLE, TN (CLARKSVILLE NOW) – Seven months after announcing John Peck as its CEO, F&M Bank has removed Peck from the position.
The move was confirmed to Clarksville Now on Friday by former Chief Financial Officer DeWayne Olive, who has been named CEO to replace Peck. He did not not say why Peck was removed.
“There is always change, and management changes have occurred in the past and will occur in the future. The viability of the bank is not dependent on one individual,” Olive said.
When reached by Clarksville Now on Friday, Peck said, “F&M Bank has a lot of things they’re doing and working on right now, and I wish them all the best.”
Peck was announced as CEO on Jan. 29, and he was also bank president. John Wallace Jr. has now been named president, with Olive as CEO.
Olive joined F&M Bank in 1993 as vice president (later executive VP) and CFO, according to his LinkedIn profile. In addition, he serves as secretary to the Board of Directors for F&M Financial Corp. and F&M Bank.
Olive said there would be “no change in F&M’s community involvement. We remain committed to the communities we serve.”
F&M Bank is headquartered in Clarksville. Its full-service banking offices, including mortgage loan services, are located throughout middle Tennessee and southern Kentucky. For more, visit www.myfmbank.com.