F&M BANCORP                                           ACCOUNT AUTHORIZATION FORM
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Please print all items except signatures. QUESTIONS? Call toll-free
1-800-468-9716 or 651-450-4064 from 7 a.m. to 7 p.m. Central Time, Monday
through Friday. Mail your completed Account Authorization Form to Shareowner
Services(SM), PO Box 64863, St. Paul, MN 55164-0863.

[A] Enrolling in the Plan

I AM A CURRENT STOCKHOLDER - PLEASE PROVIDE YOUR 10 DIGIT STOCKHOLDER ACCOUNT
NUMBER (IF KNOWN): ______________________________

[ ] I am a current Stockholder and wish to enroll in the plan and have
    $__________ ($100.00 minimum/$3,000.00 monthly maximum) automatically
    withdrawn from my checking or savings account each month. Complete sections
    B, C, D and F (Section E optional).

[ ] I am a current Stockholder and wish to enroll in the plan and make an
    optional cash investment of $__________ ($100.00 minimum/$3,000.00 monthly
    maximum). I have included a check made payable to Wells Fargo Shareowner
    Services. Complete sections B, C and F (Sections D and E optional).

[ ] I am a current Stockholder and wish to enroll in the plan and have my
    dividends reinvested. I do not wish to make any additional cash investment
    at this time. Complete sections B, C and F (Sections D and E optional).

[ ] I am a current Stockholder and wish to enroll in the plan and deposit
    __________ certificate shares into my account. I have included my
    certificates with this form. Complete sections B, C and F (Sections D and E
    optional).

I AM NOT A CURRENT STOCKHOLDER (FOR NEW INVESTORS OR INVESTORS WHO HAVE STOCK
HELD BY A BROKER)

[ ] I am not a current Stockholder and wish to enroll by making an initial
    investment of $__________ ($250.00 minimum/$3,000.00 monthly maximum) plus
    an enrollment fee of $10.00. I have included a check in the amount of the
    initial investment enrollment fee, made payable to Wells Fargo Shareowner
    Services. Complete sections B, C and F (Sections D and E optional).

[B] ACCOUNT REGISTRATION AND MAILING ADDRESS

TYPE OF ACCOUNT: (CHOOSE ONLY ONE) - PROVIDE ALL REQUESTED INFORMATION

Joint - Will be presumed to be joint tenants unless restricted by applicable
state law or otherwise indicated. Only one social security number is required
for tax reporting.

Transfer on Death - The beneficiary has no rights in or with respect to the
security until the security owner dies. Upon the death of the security owner,
the ownership of the security passes to the beneficiary. Not all states have
passed statutes to allow for TOD registrations.

Custodial - A minor is the beneficial owner of the account with an adult
Custodian managing the account until the minor reaches legal age, as specified
in the Uniform Gift/Transfer to Minor's Act.

Trust - Account is established in accordance with the provisions of a trust
agreement.

Corporation, Partnership, or other Entity - Please contact us if you have
questions regarding proper registration.


[ ] INDIVIDUAL/JOINT   [ ] TRANSFER ON DEATH


______________________________________________________
Owner's First Name           MI              Last Name


______________________________________________________
Joint Owner's First Name     MI              Last Name


______________________________________________________
Joint Owner's First Name     MI              Last Name


______________________________________________________
Beneficiary Name

FOR TRANSFER ON DEATH REGISTRATION ONLY
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[ ] CORPORATION, PARTNERSHIP, OR OTHER ENTITY


______________________________________________________
Business Name



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[ ] CUSTODIAL


______________________________________________________
Custodian's First Name       MI              Last Name


______________________________________________________
Minor's First Name           MI              Last Name


______________________________________________________
Minor's State of Residence

[ ] Uniform Gift to Minors Act (UGMA) or

[ ] Uniform Transfer to Minors Act (UTMA)



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[ ] TRUST


______________________________________________________
Trustee Name


______________________________________________________
Trustee Name


______________________________________________________
Date of Trust (MM/DD/YY)


______________________________________________________
Trust Name

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                    SOCIAL SECURITY/TAX IDENTIFICATION NUMBER

                       [ ][ ][ ]   [ ][ ]   [ ][ ][ ][ ]
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ACCOUNT ADDRESS and TELEPHONE NUMBERS - If you are a current stockholder,
complete address ONLY if your address has changed.




______________________________________________________________
Street or PO Box

______________________________________________________________
Apartment, Building or Suite Number

______________________________________________________________
City                                    State              Zip

Please provide your day and evening phone numbers to assist us in processing
your enrollment.

Daytime Phone:   ( _________ ) _________ - ______________

Evening Phone:   ( _________ ) _________ - ______________

I am a citizen of: [ ] the United States or

                   [ ] Other (please specify)

                   ________________________________________________


<PAGE>


[C] DIVIDENDS



CHECK ONLY ONE BOX. IF YOU DO NOT CHECK ANY BOX, THEN FULL DIVIDEND REINVESTMENT
WILL BE ASSUMED.

[ ] FULL DIVIDEND REINVESTMENT (Internal use only - RD). I wish to reinvest all
    dividends from shares registered in my name and shares held in my Plan
    account to purchase additional shares of F&M Bancorp common stock.

[ ] PARTIAL DIVIDEND REINVESTMENT (Internal use only - RX). I wish to reinvest
    only a portion of dividends from shares registered in my name and shares
    held in my Plan account to purchase additional shares of F&M Bancorp common
    stock (remember to indicate % of dividends to be received).

    ________ % of dividends to be reinvested in F&M Bancorp common stock
               (increments of 10%).

    ________ % of dividends to be received in cash (increments of 10%).

      NOTE: The combined total of the two percentages above must equal 100%.

      [ ] I am interested in having my dividends that are received in cash
          automatically deposited to my bank account. Please send me an ACH
          Dividend Deposit Authorization Card.

[ ] NO DIVIDEND REINVESTMENT (Internal use only - RP). All cash dividends from
    shares registered in my name and shares held in my Plan account will be paid
    directly to me in cash.

      [ ] I am interested in having my dividends automatically deposited to my
          bank account. Please send me an ACH Dividend Deposit Authorization
          Card.

NOTE: Under each of the reinvestment options listed above, participants may make
optional cash investments at any time.


[D] AUTOMATIC CASH WITHDRAWAL AND INVESTMENT

In order to have your cash investment automatically withdrawn from your checking
or savings account each month, complete the information below.

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BANK ACCOUNT INFORMATION

        [ ] Checking [ ] Savings

PLEASE ATTACH A VOIDED CHECK OR ACCOUNT DEPOSIT SLIP FOR ACCOUNT VERIFICATION.

___________________________________________________________
Name of Financial Institution

___________________________________________________________
Bank Account Number                          Bank Telephone

_____   _____   _____   _____   _____   _____   _____   _____   _____
ABA Routing Number* - Number ALWAYS begins with 0, 1, 2 or 3

___________________________________________________________
Mailing Address of Bank

___________________________________________________________
City                                           State    Zip


AUTHORIZATION

I(we) hereby authorize Wells Fargo Bank Minnesota, N.A. to electronically
withdraw from my(our) account

$____________.00 per month ($100.00 minimum/$3,000.00 monthly maximum) for
investment under the terms of the Plan. This authority remains in effect until I
cancel it in writing. If your account has been previously authorized for
telephone transaction privileges, you can cancel by calling Shareowner Services
at 1-800-468-9716. Please see section E to establish telephone privileges.

I have attached a voided check or deposit slip.

Note: A medallion signature guarantee is necessary if the name(s) on the bank
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      account is/are different from the name(s) on the stockholder account.

      * Please contact your bank or financial institution to verify your ABA
      number. Electronic withdrawals can only be made from banks or financial
      institutions operating in the United States. All withdrawals must be made
      in U.S. funds.
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[E] TELEPHONE TRANSACTION PRIVILEGES

[ ] By checking here, I hereby authorize Wells Fargo Bank Minnesota, N.A. to
    establish telephone privileges for my account within the restrictions set
    forth in the Plan. I would like my 4-digit NUMERIC Personal Identification
    Number (PIN) to be:   [ ] [ ] [ ] [ ](use numeric digits 0-9 only)


[F] SIGNATURES

By completing and signing this form, I certify that I have received and read the
prospectus describing the F&M Bancorp Direct Purchase and Dividend Reinvestment
Plan and hereby request that the above account be enrolled in the Plan. I
understand that participation is subject to the terms and conditions of the Plan
as set forth in the prospectus that accompanied this Account Authorization Form,
and that enrollment may be discontinued at any time by written notice to Wells
Fargo Bank Minnesota, N.A. I further understand that all dividends paid on the
shares registered in my name and held in my Plan account will be reinvested as
selected above. I hereby appoint Wells Fargo Bank Minnesota, N.A. as agent for
applying dividends and any investment I may make to the purchase of shares under
the Plan.

FOR JOINT OWNERS: I understand that Wells Fargo Bank Minnesota, N.A. will be
authorized to effect transactions in my Plan account (including purchases and
sales of shares held in the account) pursuant to the written and, if Section E
is completed above, telephone instructions of the other joint owner of the
account without any approval or other action on my part.

Under penalties of perjury, I certify that: The number shown in Section B of
this form is the correct Social Security Number or Tax ID Number and I am not
subject to backup withholding, either because (1) I have not been notified by
the Internal Revenue Service (IRS) that I am subject to backup withholding as a
result of failure to report all interest or dividends, or (2) the IRS has
notified me that I am no longer subject to backup withholding. [ ] Check this
box if you have been notified by the IRS that you are subject to backup
withholding because of underreporting of interest or dividends on your tax
returns.

IMPORTANT: ALL JOINT OWNERS MUST SIGN.


______________________________________________________________
Stockholder Signature                                     Date


______________________________________________________________
2nd Stockholder Signature (if joint ownership)            Date


______________________________________________________________
3rd Stockholder Signature (if joint ownership)            Date