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F&M Bancorp., Kaukauna, Wis., named David L. Koth president and chief executive officer of F&M Bank-Waushara County, Wautoma.

He succeeded Ray Piehl, who retired Dec. 31.

Mr. Koth had been president of F&M Bank-New London since April 1995. He joined F&M Bancorp as assistant vice president in 1986 and in 1990 became vice president and cashier.

Mr. Piehl, a former state bank examiner, joined what was then Union State Bank of Wautoma as cashier in May 1970 and the same year was elected executive vice president. He was promoted to president in December 1994. F&M bought Union State in January 1995 and renamed it F&M Bank-Waushara County.

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