Welcome to our dedicated page for F & M Bk news (Ticker: FMBM), a resource for investors and traders seeking the latest updates and insights on F & M Bk stock.
F & M Bank Corp. (FMBM) is an independent, locally owned financial holding company that regularly issues detailed public updates on its performance and operations. As the parent of Farmers & Merchants Bank, F&M Bank Corp. focuses on community banking in Virginia’s Shenandoah Valley and uses its news releases to explain how financial results, credit trends, and strategic decisions affect the company and its markets.
News coverage for FMBM commonly includes quarterly and year-end earnings announcements. These releases discuss net income, net interest income, net interest margin, cost of funds, return on average assets, and return on average equity, along with commentary on loan and deposit growth. They also highlight the composition of the loan portfolio, shifts between loan categories, and changes in the investment securities portfolio, including unrealized losses and scheduled bond maturities.
Company news also addresses asset quality and risk management, including provisions for credit losses, net charge-offs, nonperforming loan levels, and the Allowance for Credit Losses on Loans. Management often explains how economic conditions, collateral values, and portfolio mix influence these measures. Additional updates describe noninterest income sources such as mortgage banking, title insurance, card services, wealth management, and service charges on deposits, as well as changes in noninterest expenses linked to staffing, benefits, fraud events, pension distributions, and efficiency initiatives.
Beyond earnings, F&M Bank Corp. uses press releases to announce board appointments and retirements, stock repurchase program authorizations, dividend declarations, and strategic actions under its multi-year plan. Investors and community members following FMBM news can see how the company balances profitability, capital, liquidity, and community banking priorities over time.
F & M Bank Corp. (OTCQX:FMBM) reported a record net income of $10.5 million for 2021, marking its most profitable year in history, with diluted earnings per share of $3.12. The company experienced deposit growth of 68.3% over two years, significantly outperforming peers. Key highlights include a 31.97% annual increase in total deposits and improved asset quality, with nonperforming assets down to 0.45%. However, net interest margin compressed to 3.00% from 3.61% the previous year. The Board declared a $0.26 dividend per share for Q4 2021, reflecting a 3.31% yield.
F & M Bank Corp. (OTCQX:FMBM) reported a net income of $2.2 million for Q3 2021, translating to diluted earnings of $0.68 per share. Year-to-date net income rose to $9.2 million. The bank's total deposits surged by $74.9 million for the quarter and $236.7 million year-over-year. Total loans grew by $7.5 million and $34.7 million respectively, excluding PPP loans. Nonperforming assets decreased to 0.46%. The bank declared a dividend of $0.26 per share, yielding 3.60%. Assets under management increased significantly, with a strong performance noted in noninterest income.
F&M Bank Corp. (OTCQX:FMBM) has appointed three new members to its Board of Directors as of July 2021. The new appointees are Daphyne Saunders Thomas, a former professor emerita at James Madison University; John Willingham, President of Stoneridge Companies; and Hannah Hutman, a partner at Hoover Penrod, PLC. CEO Mark Hanna expressed excitement about leveraging the new members' expertise to enhance the bank's mission. F&M Bank Corp. remains the only publicly traded entity in Rockingham County, VA, managing over $1 billion in assets.
F & M Bank Corp. (OTCQX:FMBM) reported a net income of $3.2 million and diluted earnings per share of $0.93 for Q2 2021. Growth was driven by increased net interest income, despite margin compression, and strong non-interest income, totaling $6.4 million year-to-date. The bank improved asset quality, reducing the allowance for loan losses to 1.31%. Total deposits rose by $92.6 million for the quarter and $188.7 million over the past year. The Board declared a $0.26 dividend per share, yielding 3.59% annually, payable August 30, 2021.
F & M Bank Corp. (OTCQX:FMBM) reported record earnings of $3.8 million for Q1 2021, translating to diluted EPS of $1.11. The bank's total assets surpassed $1 billion, driven by strong asset quality and liquidity. Noninterest income rose to $3.4 million, boosted by high mortgage origination volumes and wealth management growth. Significant contributions also came from the Paycheck Protection Program, with $20.2 million in loans processed this year. The bank opened a new branch in Waynesboro and resumed lobby operations, further enhancing its market reach.
F & M Bank Corp (OTCQX:FMBM) reported a net income of $2.21 million for Q3 2020, up from $2.06 million in Q2. The net interest margin stands at 3.60%, reflecting a historical decline. Total deposits increased by $26.9 million in the quarter and $175.1 million year-over-year. Nonperforming loans improved to 0.42% of total assets. The Board declared a dividend of $0.26 per share, yielding 5.41% based on the recent share price. The bank processed 717 PPP loans totaling $62.6 million amid the pandemic.