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Texas-based F & M Bancshares CEO to step down

CalvinSpindor, chairman and CEO of De Leon, Texas-based and unitFarmers and Merchants Bank,is set to retire and step down as CEO in September, the Brownwood (Texas) Bulletin reportedJuly 6.

Spindorwill keep his role as chairman of the company and the bank, according to thereport.

Joe BobHuddleston, who was appointed president and director of the company and thebank, will become CEO of both entities upon Spindor's retirement.