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Farmers & Merchants Bancorp Announces Retirement of Chief Credit Officer, Successor

September 24, 2021, 07:09 AM
Related: Personnel Moves

Farmers & Merchants Bancorp announced that Kenneth W. Smith, Executive Vice President and Chief Credit Officer, has announced his intention to retire effective Dec. 31, after 46 years in banking, including 22 years with Farmers & Merchants Bank of Central California.

The Chief Credit Officer position will be filled by Jay J. Colombini, one of the Bank’s two current Executive Vice President and Wholesale Banking Division Managers. Colombini will assume the Chief Credit Officer’s role Nov. 1, and work closely with Smith until year-end to ensure a seamless transition. Colombini brings to this new position 36 years of industry credit administration experience, including 28 years at Farmers & Merchants Bank of Central California.

Kent A. Steinwert, Chairman, President and CEO, said, “As a key member of our management team, Ken Smith has been instrumental in maintaining our institution’s exceptional credit quality and regulatory performance. His honed credit administration skills have contributed to our strong overall performance over the past 22 years. While Ken Smith will be deeply missed, Jay Colombini has demonstrated the ability to successfully manage complex credit portfolios through all stages of the economic cycle.”

Steinwert continued, “Our long-term commitment to continuous strategic and succession planning has enabled the Company to fill both executive openings from internal team members. Jay Colombini’s current role as one of two key executives in our wholesale banking division will be filled by two of our Senior Vice President – Market Managers. These individuals will assume new Regional Senior Vice President positions Nov. 1, and will report to David M. Zitterow, Executive Vice President Wholesale Banking Division Manager. Expanding leadership oversite of our agriculture and commercial businesses is expected to enhance the Company’s ability to effectively manage future growth.”

Farmers & Merchants Bancorp is the parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank. The Bank offers a full complement of loan, deposit, equipment leasing and treasury management products to businesses, as well as a full suite of consumer banking products.







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