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Farmers & Merchants Savings Bank, Monticello, Iowa, announced four promotions on Feb. 10. The shift in positions follows the transition of second generation owner Michael Dunn to chairman of F&M Bank's board from president and CEO. Dunn remains chairman and president of the bank's holding company, Dunn Investment Co.
Tim German has been promoted to president and will manage the bank day to day. German joined F&M as executive vice president in 2007. Prior to that he was president of Central State Bank. German has been in banking for 29 years. Nate Dunn and Tirzah Wedewer, both third generation members of the Dunn family, continue to work in the bank. Dunn, a vice president, has worked in the bank since 2007. Wedewer is senior vice president and has worked in the bank since 1998.
Dunn Investment Co., was a two bank holding company until January 2015. It owned the $409 million Farmers & Merchants Savings Bank and the $116 million Security Savings Bank, Eagle Grove, Iowa. As of January, the two banks have been combined into F&M. The boards of the two banks also are now combined. F&M announced that German and Nate Dunn have joined the combined board along with F&M...