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F&M Bank creates Khandra R. Smalley MBA Graduate Scholarship Endowment for APSU students

By: Payton Baggett October 23, 2023

Khandra R. Smalley
The late Khandra R. Smalley.

CLARKSVILLE, Tenn. – F&M Bank recently made a generous contribution to establish the Khandra R. Smalley MBA Graduate Scholarship Endowment at Austin Peay State University (APSU), in memory of the late Khandra R. Smalley (’05).

“Supporting student success is central to the Austin Peay experience,” Austin Peay’s Vice President for Alumni, Engagement and Philanthropy Kris Phillips said. “We are proud that this scholarship will continue Khandra’s passion for giving back to others. Her friends will always remember her dedication to her community and her alma mater.”

Smalley was the senior vice president for marketing research at F&M Bank and a community leader in Clarksville whose work helped many businesses and nonprofit organizations. She graduated with a Master of Science in management from Austin Peay State University in 2005 and served as an adjunct professor at APSU, teaching marketing for 15 years. In 2019, she was named City of Clarksville Citizen of the Year and received the APSU Outstanding Alumna Award. Smalley passed away in November of 2022.

“At F&M Bank, Khandra Smalley made a difference,” F&M Bank Chairman and CEO Sammy Stuard said. “And within the communities our bank serves – especially the Clarksville community – she often functioned as the heart of F&M. Her desire to serve was evident and we miss that radiance. To ensure her memory and legacy remain bright and undimmed, we are incredibly proud to fund this scholarship endowment for APSU students.”

Endowments are permanently restricted funds managed by the Austin Peay State University Foundation. The amount of each scholarship award may vary and will be determined based on the value of the endowment and the Foundation’s spending plan.

“I will always remember Khandra as a College of Business alumna, a respected adjunct faculty member, a kind friend and an inspiring advocate,” Dr. Mickey Hepner, dean of the APSU College of Business, said. “She made the College of Business better. She made our students better. She made our city better.”

To support APSU’s fundraising initiatives, contact the Office of Philanthropy at 931-221-7127.