F&M National Corp.'s board has authorized management to buy up to 100,000 shares of the company's common stock on the open market.

While F&M's management has not determined how many shares it might purchase, any repurchased shares would probably be used primarily for general corporate purposes, including the funding of employee benefit plans.

F&M National has 11 bank affiliates with 103 offices.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.