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.
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F&M Bank Corp. has announced a leadership change with Mike Wilkerson appointed as the new CEO and Barton Black as President, effective immediately. This change follows the departure of former President and CEO Mark Hanna. Wilkerson, with over 40 years in banking, aims to enhance F&M Bank's local service and community commitment. Black brings over 30 years of experience and a focus on growth and customer service.
Pugh expresses gratitude for Hanna’s contributions and emphasizes the strength of the new leadership team's combined experience. F&M Bank, established in 1908, provides diverse financial services with a strong local focus and community values.
F&M Bank Corp (OTCQX:FMBM) reported a net income of $1.7 million ($0.49 per share) for Q4 2022, down from $2.3 million ($0.67 per share) in Q3 2022. Total assets rose to $1.25 billion, with total loans growing to $743.6 million, a 12.2% increase year-over-year. The company declared a fourth quarter dividend of $0.26 per share, yielding 4.61%. 2022 net income was $8.3 million, down from $10.5 million in 2021. The bank’s net interest margin decreased to 3.04% due to rising interest expenses. Nonperforming assets were low at 0.18%. The management expressed optimism for strong results in 2023 based on disciplined growth strategies.
F & M Bank Corp. (OTCQX:FMBM) reported a net income of $2.3 million for Q3 2022. Total deposits increased by $17.2 million (1.56%) to $1.1 billion, while loans rose by $6.7 million to $699.6 million. The net interest margin improved to 3.03%, reflecting higher yields on loans. Despite no provision for loan losses this quarter, concerns remain about economic conditions. A dividend of $.26 per share was declared, yielding 4.45% based on recent trading prices.
F & M Bank Corp. (OTCQX:FMBM) reported earnings of $1.8 million for Q2 2022, with strong loan demand in the Shenandoah Valley, resulting in a $32 million increase in loans. However, total deposits decreased by $12 million, with nonperforming loans falling to 0.15% of total assets. The bank allocated $600,000 for loan losses amid economic uncertainty. Investment portfolio income grew significantly to $2 million compared to $536,000 last year. The board declared a dividend of $0.26 per share, yielding 4.08%. Overall, core operating earnings are strong and growing, despite challenges.
F & M Bank Corp. (OTCQX:FMBM) reported a robust net income of $2.5 million for Q1 2022, a significant increase compared to previous quarters. Deposits surged by 2.96% to $1.112 billion, and loans held for investment rose to $657.5 million, marking a growth of 5.64% year-over-year. Notably, nonperforming assets as a percentage of total assets decreased to 0.39%, showcasing improved asset quality. Furthermore, a $450,000 recovery in provision for loan losses contributed positively to earnings, while the dividend declared stands at $0.26 per share, reflecting a 3.47% yield.
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