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Default Format time to not include seconds and AM/PM

I am bringing data with appointment Times over from another program. I am
using a TIME formula to subtract 15 minutes off to let person know when to
show for appointment.

Problem that is occurring is how the time shows. The time in the cell
itself shows as 1:30 but when you click on the cell & view it in the formula
bar, it shows as 1:30:00 AM. I'm Mail Merging (WORD) this data for letters
and do NOT want the full time with seconds and AM/PM to show on the letter.
How do I format this in EXCEL so only the 1:30 shows?
 
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