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 15, 1996



                                   F&M BANCORP
             (Exact name of registrant as specified in its charter)



    Maryland                    0-12638                        52-1316473
   (State of                  (Commission                     (IRS Employer 
  Incorporation)              File Number)                  Identification No.)



                            110 Thomas Johnson Drive
                            Frederick, Maryland 21702
               (Address of principal executive offices) (Zip Code)



                                 (301) 694-4000
                         (Registrant's telephone number)


<PAGE>

Item 5.  Other Events.

         The merger of Home Federal Corporation with and into F&M Bancorp became
effective as of the close of business on November  15, 1996.  As a result of the
merger,  Home Federal  Corporation  stockholders  received 0.49535 shares of F&M
Bancorp  Common  Stock in exchange  for each share of Home  Federal  Corporation
Common  Stock.  Cash in lieu of  fractional  shares  will be paid at the rate of
$23.90 per share.

         Pursuant to General  Instruction F to Form 8-K, the press release dated
November 15, 1996,  announcing  the  consummation  of the merger of Home Federal
Corporation  with and into F&M  Bancorp is attached  to this  Current  Report as
Exhibit 1, and is hereby incorporated by reference.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)      Exhibits.

                  1.       Press Release of F&M Bancorp dated November 15, 1996.





<PAGE>



                                   SIGNATURES


         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 thereunto duly authorized.


Date:  November 18, 1996              F&M BANCORP


               
                                      By:/s/Faye E. Cannon
                                          --------------------
                                         Faye E. Cannon
                                         President and Chief Executive Officer




<PAGE>


                                  EXHIBIT INDEX

                                                                       Page

1.       Press Release of F&M Bancorp dated November 15, 1996            4





<PAGE>



                     EXHIBIT 1. PRESS RELEASE OF F&M BANCORP


                                November 15, 1996

                 F&M BANCORP COMPLETES HOME FEDERAL ACQUISITION

Investor Relations:        Toll-Free:       (888) 694-4170
                           Internet:        www.fmbn.com

Frederick, MD, November 15, 1996 - F&M Bancorp (NASDAQ/NMS:FMBN), parent company
of Farmers and Mechanics  National  Bank,  today  announced  that  following the
receipt of all  required  regulatory  approvals  and  satisfaction  of all other
conditions  precedent  to closing,  it has  completed  its  acquisition  of Home
Federal Corporation,  Hagerstown,  MD, and its principal subsidiary Home Federal
Savings  Bank,  effective as of the close of business  November  15, 1996.  Home
Federal Savings Bank becomes the second banking subsidiary of F&M Bancorp.

Faye E. Cannon,  president  and chief  executive  officer of F&M Bancorp,  said,
"Today  marks  the  advent  of a new  dimension  in  community  banking  for the
customers of Farmers and Mechanics  National Bank and Home Federal Savings Bank.
We welcome  our new  affiliate  to the F&M  Bancorp  family and look  forward to
serving  Home  Federal's   market  with  a  growing  array  of  traditional  and
contemporary financial products and services. With this significant new presence
in   Washington   County,   we  have  enhanced  our  position  as  the  leading,
customer-focused community banking institution in our marketplace."

Richard W. Phoebus,  Sr.,  president and chief executive officer of Home Federal
Savings Bank,  added,  "We believe this  affiliation  is good for Home Federal's
former stockholders and has great potential for our customers and the community.
F&M Bancorp's reputation for providing services to meet community needs has been
the basis  for their  impressive  growth  and  development.  We,  too,  have the
customer at the center of our business.  With this important  shared  philosophy
and the considerable  resources of our new parent company,  Home Federal Savings
Bank is well  positioned  to  efficiently  expand  its  products,  services  and
delivery systems, creating even greater value for our customers."

Terms of the Plan and Agreement to Merge result in an exchange of 0.49535 shares
of F&M Common Stock for each share of Home Federal Common Stock, with fractional
shares paid in cash at the rate of $23.90 per share. The exchange ratio requires
the issuance of 1,247,791 new shares of F&M Bancorp Common Stock in exchange for
all  2,519,010  shares of Home  Federal.  The  transaction  has a value of $29.0
million based upon F&M's closing stock price of $23.25 per share on November 14,
1996.

Following the closing, Home Federal  Corporation's  stockholders will be advised
by letter as to the procedure for exchanging their shares.

The merger transaction will be accounted for as a "pooling of interests" whereby
the  financial  condition  and  results of  operations  of F&M  Bancorp and Home
Federal  Corporation  will  be  combined  for all  prior  periods  in  financial
statements published after November 15, 1996.

Based  on the  pro  forma  combined  assets  of F&M  Bancorp  and  Home  Federal
Corporation  as if they had merged on September 30, 1996, F&M Bancorp would rank
as the fourth largest independent bank holding company headquartered in Maryland
with total assets of $989 million.  It operates 24 branch offices and 32 ATMs of
Farmers  and  Mechanics  National  Bank in  Frederick,  Carroll  and  Montgomery
Counties,  and delivers banking services throughout its market with the region's
first full-service mobile unit, Express Bank. Home Federal Savings Bank operates
seven offices and 17 ATMs primarily in Hagerstown, Washington County.
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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 15, 1996

                                   F&M BANCORP
             (Exact name of registrant as specified in its charter)

    Maryland                    0-12638                        52-1316473
   (State of                  (Commission                     (IRS Employer 
  Incorporation)              File Number)                  Identification No.)

                            110 Thomas Johnson Drive
                            Frederick, Maryland 21702
               (Address of principal executive offices) (Zip Code)

                                 (301) 694-4000
                         (Registrant's telephone number)
Item 5.  Other Events.

         The merger of Home Federal Corporation with and into F&M Bancorp became
effective as of the close of business on November  15, 1996.  As a result of the
merger,  Home Federal  Corporation  stockholders  received 0.49535 shares of F&M
Bancorp  Common  Stock in exchange  for each share of Home  Federal  Corporation
Common  Stock.  Cash in lieu of  fractional  shares  will be paid at the rate of
$23.90 per share.

         Pursuant to General  Instruction F to Form 8-K, the press release dated
November 15, 1996,  announcing  the  consummation  of the merger of Home Federal
Corporation  with and into F&M  Bancorp is attached  to this  Current  Report as
Exhibit 1, and is hereby incorporated by reference.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)      Exhibits.

                  1.       Press Release of F&M Bancorp dated November 15, 1996.
SIGNATURES

         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 thereunto duly authorized.

Date:  November 18, 1996              F&M BANCORP

               
                                      By:/s/Faye E. Cannon
                                          --------------------
                                         Faye E. Cannon
                                         President and Chief Executive Officer
EXHIBIT INDEX

                                                                       Page

1.       Press Release of F&M Bancorp dated November 15, 1996            4
EXHIBIT 1. PRESS RELEASE OF F&M BANCORP

                                November 15, 1996

                 F&M BANCORP COMPLETES HOME FEDERAL ACQUISITION

Investor Relations:        Toll-Free:       (888) 694-4170
                           Internet:        www.fmbn.com

Frederick, MD, November 15, 1996 - F&M Bancorp (NASDAQ/NMS:FMBN), parent company
of Farmers and Mechanics  National  Bank,  today  announced  that  following the
receipt of all  required  regulatory  approvals  and  satisfaction  of all other
conditions  precedent  to closing,  it has  completed  its  acquisition  of Home
Federal Corporation,  Hagerstown,  MD, and its principal subsidiary Home Federal
Savings  Bank,  effective as of the close of business  November  15, 1996.  Home
Federal Savings Bank becomes the second banking subsidiary of F&M Bancorp.

Faye E. Cannon,  president  and chief  executive  officer of F&M Bancorp,  said,
"Today  marks  the  advent  of a new  dimension  in  community  banking  for the
customers of Farmers and Mechanics  National Bank and Home Federal Savings Bank.
We welcome  our new  affiliate  to the F&M  Bancorp  family and look  forward to
serving  Home  Federal's   market  with  a  growing  array  of  traditional  and
contemporary financial products and services. With this significant new presence
in   Washington   County,   we  have  enhanced  our  position  as  the  leading,
customer-focused community banking institution in our marketplace."

Richard W. Phoebus,  Sr.,  president and chief executive officer of Home Federal
Savings Bank,  added,  "We believe this  affiliation  is good for Home Federal's
former stockholders and has great potential for our customers and the community.
F&M Bancorp's reputation for providing services to meet community needs has been
the basis  for their  impressive  growth  and  development.  We,  too,  have the
customer at the center of our business.  With this important  shared  philosophy
and the considerable  resources of our new parent company,  Home Federal Savings
Bank is well  positioned  to  efficiently  expand  its  products,  services  and
delivery systems, creating even greater value for our customers."

Terms of the Plan and Agreement to Merge result in an exchange of 0.49535 shares
of F&M Common Stock for each share of Home Federal Common Stock, with fractional
shares paid in cash at the rate of $23.90 per share. The exchange ratio requires
the issuance of 1,247,791 new shares of F&M Bancorp Common Stock in exchange for
all  2,519,010  shares of Home  Federal.  The  transaction  has a value of $29.0
million based upon F&M's closing stock price of $23.25 per share on November 14,
1996.

Following the closing, Home Federal  Corporation's  stockholders will be advised
by letter as to the procedure for exchanging their shares.

The merger transaction will be accounted for as a "pooling of interests" whereby
the  financial  condition  and  results of  operations  of F&M  Bancorp and Home
Federal  Corporation  will  be  combined  for all  prior  periods  in  financial
statements published after November 15, 1996.

Based  on the  pro  forma  combined  assets  of F&M  Bancorp  and  Home  Federal
Corporation  as if they had merged on September 30, 1996, F&M Bancorp would rank
as the fourth largest independent bank holding company headquartered in Maryland
with total assets of $989 million.  It operates 24 branch offices and 32 ATMs of
Farmers  and  Mechanics  National  Bank in  Frederick,  Carroll  and  Montgomery
Counties,  and delivers banking services throughout its market with the region's
first full-service mobile unit, Express Bank. Home Federal Savings Bank operates
seven offices and 17 ATMs primarily in Hagerstown, Washington County.