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About F&M Bank Corp (FMBM)
F&M Bank Corp (OTCQX: FMBM) is a distinguished independent financial holding company headquartered in Timberville, Virginia. With origins dating back to 1908, F&M Bank Corp has established itself as a cornerstone of community banking in the Shenandoah Valley. Its primary subsidiary, Farmers & Merchants Bank, operates 14 banking offices across Rockingham, Shenandoah, and Augusta counties, as well as the cities of Winchester and Waynesboro, Virginia. The company also oversees F&M Mortgage, a mortgage lending subsidiary, and VSTitle, a title insurance subsidiary, further diversifying its financial service offerings.
Core Business Model
At its core, F&M Bank Corp is dedicated to providing a comprehensive suite of financial products and services tailored to meet the needs of its community. Its offerings span traditional banking services such as deposit accounts, personal and commercial lending, and wealth management. The company’s loan portfolio is strategically diversified to mitigate risk, with significant segments in residential mortgages, commercial real estate, automobile loans, and agricultural lending. This diversification underscores its prudent financial management and commitment to sustaining strong asset quality.
Market Position and Differentiation
F&M Bank Corp holds a unique position as the oldest banking institution native to Rockingham County, Virginia. Its deep-rooted presence in the Shenandoah Valley enables it to maintain strong customer relationships and a profound understanding of local market dynamics. The company’s conservative financial approach, evidenced by its focus on sound investments and risk management, has ensured stability and profitability over the years. This approach is complemented by its commitment to exceptional customer service and community engagement, which differentiates it from larger, less localized competitors.
Subsidiaries and Diversification
Through its subsidiaries, F&M Bank Corp extends its reach and enhances its service portfolio. F&M Mortgage specializes in residential mortgage lending, catering to homebuyers with tailored loan solutions. VSTitle provides title insurance services, ensuring secure property transactions. Additionally, Farmers & Merchants Financial Services, Inc., offers investment and insurance services, further diversifying the company’s revenue streams and reinforcing its position as a comprehensive financial partner.
Financial Strength and Stability
F&M Bank Corp is renowned for its conservative financial practices, which have enabled it to navigate economic fluctuations with resilience. The company’s focus on maintaining a strong net interest margin, diversified loan portfolio, and high asset quality underscores its commitment to financial stability. Its robust liquidity position and access to both on- and off-balance-sheet funding sources ensure operational flexibility and capacity for future growth.
Community Commitment
As a community bank, F&M Bank Corp is deeply invested in the success of the Shenandoah Valley. Its values—gregarious, resolute, original, and wholehearted (G.R.O.W.)—guide its decision-making, philanthropy, and volunteerism. The company actively supports local businesses, the agricultural sector, and nonprofit organizations, reinforcing its role as a vital financial partner in the region.
Competitive Landscape
Operating in a competitive banking environment, F&M Bank Corp differentiates itself through its localized expertise, customer-centric approach, and diversified service offerings. While larger banks and fintech companies pose competitive challenges, F&M Bank Corp’s focus on community banking and personalized service provides a compelling value proposition for its customers.
Conclusion
F&M Bank Corp (FMBM) exemplifies the principles of responsible and community-focused banking. With over a century of experience, a diversified service portfolio, and a steadfast commitment to its customers and community, the company continues to thrive as a trusted financial institution in the Shenandoah Valley.
F&M Bank Corp. (OTCQX:FMBM) reported strong financial results for Q4 and full-year 2024. Net income reached $2.3 million ($0.64 per share) for Q4, bringing the annual total to $7.3 million ($2.07 per share), marking a significant 163% increase from 2023's $2.8 million.
The company's total assets stood at $1.30 billion, with total loans of $839.9 million (up 2%) and deposits of $1.20 billion (up 5%) compared to year-end 2023. Net interest income for Q4 was $9.1 million, with net interest margin increasing by 14 basis points to 2.91%.
Key improvements were seen in Wealth Management, F&M Mortgage, and VS Title divisions. The Board declared a fourth quarter dividend of $0.26 per share, yielding 5.21% annually based on the recent share price of $19.95.
F&M Bank Corp. (OTCQX:FMBM) reported Q3 2024 net income of $792,000 ($0.23 per share), compared to $3.0 million ($0.86 per share) in Q2 2024 and $1.0 million ($0.29 per share) in Q3 2023. Results were impacted by two one-time expenses totaling $734,000 after tax. Total assets reached $1.34 billion, with total loans of $830.7 million and deposits of $1.22 billion. The company's stock price increased 44.8% during Q3, from $16.15 to $23.40. Tangible book value per share improved from $21.551 to $25.011 since December 31, 2023.
F&M Bank Corp. (OTCQX:FMBM) has appointed Neil A. Houff to its Board of Directors. Houff is the President of Houff , a Weyers Cave, VA-based company specializing in agronomy, supply chain solutions, transloading, and biosolids management. He has led the company since the early 1990s and previously served on Virginia's Board of Agriculture and Consumer Services. As of June 30, 2024, F&M reported total assets of $1.31 billion, loans of $826.3 million, and deposits of $1.19 billion.
F&M Bank Corp. (OTCQX:FMBM) reported strong Q2 2024 results with net income of $3.0 million or $0.86 per share, up from $1.2 million in Q1 2024 and $241,000 in Q2 2023. For the first half of 2024, net income was $4.2 million or $1.21 per share. The company saw growth in total assets to $1.31 billion, total loans to $826.3 million, and total deposits to $1.19 billion. Key highlights include:
- Improved net interest margin of 2.72%
- Recovery of credit losses of $458,000
- Increased noninterest income to $3.0 million
- Reduced noninterest expenses
- Tangible book value per share increased to $22.621
The Board declared a Q2 dividend of $0.26 per share, yielding 6.03% annualized based on the recent share price of $17.25.
F&M Bank Corp. reported strong first quarter 2024 results with a net income of $1.2 million or $0.35 per share, total assets of $1.32 billion, total loans of $825.9 million, and total deposits of $1.16 billion. The company experienced growth in loans and deposits, increased interest income, reduced operational expenses, and continued strong asset quality. The Bank's net interest margin decreased by two basis points to 2.64% on a linked quarter basis. Noninterest income decreased slightly, while noninterest expenses saw a significant decline. Shareholders' equity decreased slightly due to dividend payments. The company declared a first quarter dividend of $0.26 per share, offering a 6.75% yield. The loan portfolio remains diversified, with residential mortgage and automobile loans being the largest segments. Asset quality remains stable with NPLs at 0.47% of total assets. The Bank recorded a provision for credit losses of $823,000, reflecting net loan charge-offs and loan growth. Overall, F&M Bank Corp. demonstrated positive financial performance in the first quarter of 2024.
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