Farmers & Merchants Bank of Long Beach Announces Executive Management Transition and Organizational Realignment

Farmers & Merchants Bank of Long Beach (“F&M” or the “Bank”) (OTCQX: FMBL) today announced key changes to its executive management team and promotions to new roles, reinforcing the Bank’s strategic vision and next stage of growth and development.

The transition marks the culmination of F&M’s succession plan and creates a new role, Executive Chairman of the Board, independent of the Chief Executive Officer.

Effective immediately, Daniel K. Walker, currently Chairman and Chief Executive Officer, has been appointed to the new role of Executive Chairman of the Board; W. Henry Walker, current President, has been promoted to Chief Executive Officer; and Kevin M. Tiber, currently Executive Vice President and Chief Investment Officer, was promoted to President and Chief Investment Officer.

Additionally, Kathleen Salmons, Senior Vice President and Chief Risk Officer, was promoted to Executive Vice President, Chief Risk Officer, and assumes responsibility for expanded roles and responsibilities to reflect the increased importance of risk management in financial institutions.

Effective January 1, 2024, Taylor L. Hoang will be promoted to Executive Vice President, Chief Financial Officer, succeeding John W.H. Hinrichs, who is retiring from the Bank at the end of the year after serving as its CFO since 2000 and joining the Bank in 1964.

“The realignment of our executive management roles signifies a natural progression, as the Bank enters its 117^th year,” said Daniel Walker, who joined F&M in 1974 and served as CEO since 2012. “Providing rewarding career paths and promoting from within have always been hallmarks of F&M. We are proud of the depth of our executive team, which has never wavered from the Bank’s objective of serving our business and consumer clients and supporting communities in which we operate. I also want to express gratitude to John Hinrichs for his many achievements over nearly six decades of serving the Bank and for his contributions toward making F&M the solid Bank it is today. We will miss John’s wisdom and camaraderie and know that our financial team will continue to build upon and assure F&M’s historic track record of success and stability,” he added.