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) January 20, 1999
       
                                       
    
                                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 January 20, 1999, F&M Bancorp issued a press release which
 included the publication of certain financial data of the combined
 operations of F&M Bancorp and Monocacy Bancshares, Inc. for the period
 ended December 31, 1998.  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 on January 20,
                     1999.  
  

  
  
                                 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: January 20, 1999 
  
  
                                   F&M BANCORP 
  
                                   By:  /s/ Gordon M. Cooley 
                                      ------------------------------------
                                      Name:  Gordon M. Cooley  
                                      Title: Secretary and General Counsel 
  
  
  
  
                               EXHIBIT INDEX 
  
           Exhibit 
           Number    Description 
           -------   -----------
           99.1      Press Release issued by F&M Bancorp on January 20,
                     1999.
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2990}]
{"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": "99508918"}, "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) January 20, 1999
       
                                       
    
                                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 January 20, 1999, F&M Bancorp issued a press release which
 included the publication of certain financial data of the combined
 operations of F&M Bancorp and Monocacy Bancshares, Inc. for the period
 ended December 31, 1998.  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 on January 20,
                     1999.  
  

  
  
                                 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: January 20, 1999 
  
  
                                   F&M BANCORP 
  
                                   By:  /s/ Gordon M. Cooley 
                                      ------------------------------------
                                      Name:  Gordon M. Cooley  
                                      Title: Secretary and General Counsel 
  
  
  
  
                               EXHIBIT INDEX 
  
           Exhibit 
           Number    Description 
           -------   -----------
           99.1      Press Release issued by F&M Bancorp on January 20,
                     1999.