SECURITIES AND EXCHANGE COMMISSION 
  
                           Washington, D.C. 20549 
  
  
                                  FORM 8-K 
  
                               CURRENT REPORT 
  
   PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 
  
  
   Date of Report (Date of earliest event reported) November 20, 1998       
  
  
                                F&M BANCORP 
           (Exact name of registrant as specified in its charter) 
  
  

 Maryland                  0-12638                 52-1316473 
 (State or other         (Commission             (IRS Employer 
 jurisdiction of         File Number)            Identification No.) 
 incorporation)                                       
  
  
 110 Thomas Johnson Drive 

 Frederick, Maryland                                     21702  
 (Address of principal executive offices)             (Zip Code) 
  
  
                            (301) 694-4000  
          (Registrant's telephone number, including area code) 
  
  
                            Not Applicable
       (Former name or former address, if changed since last report) 




 ITEM 5.  OTHER EVENTS. 
  

           On November 20, 1998, F&M Bancorp and Monocacy Bancshares, Inc.
 issued a joint press release announcing an anticipated closing date for
 their planned merger. This press release is attached hereto as Exhibit 99.1
 and is incorporated herein by reference. 
  
  
 ITEM 7.  FINANCIAL STATEMENT AND EXHIBITS. 
  
 (c)  Exhibits 
  
           99.1      Press Release issued by F&M Bancorp and Monocacy
                     Bancshares, Inc. on November 20, 1998.  
  
  
  
                                 SIGNATURE 
  
  
           Pursuant to the requirements of the Securities Exchange Act of
 1934, the registrant has duly caused this report to be signed on its behalf
 by the undersigned hereunder duly authorized. 
  
 Dated: November 20, 1998 
  
  
                                    F&M BANCORP 
  
                                    By: ____________________________
                                        Name:  Gordon M. Cooley  
                                        Title: Secretary and General Counsel 
  
  
  
                               EXHIBIT INDEX 
  
           Exhibit 
           Number    Description 
  
           99.1      Press Release issued by F&M Bancorp and Monocacy
                     Bancshares, Inc. on November 20, 1998
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2435}]
{"company-data": {"conformed-name": "F&M BANCORP", "cik": "0000736473", "assigned-sic": "6022", "irs-number": "521316473", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-12638", "film-number": "98756116"}, "business-address": {"street1": "110 THOMAS JOHNSON DR", "street2": "P O BOX 518", "city": "FREDERICK", "state": "MD", "zip": "21702", "phone": "3016944000"}}
SECURITIES AND EXCHANGE COMMISSION 
  
                           Washington, D.C. 20549 
  
  
                                  FORM 8-K 
  
                               CURRENT REPORT 
  
   PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 
  
  
   Date of Report (Date of earliest event reported) November 20, 1998       
  
  
                                F&M BANCORP 
           (Exact name of registrant as specified in its charter) 
  
  

 Maryland                  0-12638                 52-1316473 
 (State or other         (Commission             (IRS Employer 
 jurisdiction of         File Number)            Identification No.) 
 incorporation)                                       
  
  
 110 Thomas Johnson Drive 

 Frederick, Maryland                                     21702  
 (Address of principal executive offices)             (Zip Code) 
  
  
                            (301) 694-4000  
          (Registrant's telephone number, including area code) 
  
  
                            Not Applicable
       (Former name or former address, if changed since last report) 

 ITEM 5.  OTHER EVENTS. 
  

           On November 20, 1998, F&M Bancorp and Monocacy Bancshares, Inc.
 issued a joint press release announcing an anticipated closing date for
 their planned merger. This press release is attached hereto as Exhibit 99.1
 and is incorporated herein by reference. 
  
  
 ITEM 7.  FINANCIAL STATEMENT AND EXHIBITS. 
  
 (c)  Exhibits 
  
           99.1      Press Release issued by F&M Bancorp and Monocacy
                     Bancshares, Inc. on November 20, 1998.  
  
  
  
                                 SIGNATURE 
  
  
           Pursuant to the requirements of the Securities Exchange Act of
 1934, the registrant has duly caused this report to be signed on its behalf
 by the undersigned hereunder duly authorized. 
  
 Dated: November 20, 1998 
  
  
                                    F&M BANCORP 
  
                                    By: ____________________________
                                        Name:  Gordon M. Cooley  
                                        Title: Secretary and General Counsel 
  
  
  
                               EXHIBIT INDEX 
  
           Exhibit 
           Number    Description 
  
           99.1      Press Release issued by F&M Bancorp and Monocacy
                     Bancshares, Inc. on November 20, 1998