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) delivers community-focused financial services across Virginia's Shenandoah Valley, maintaining stability through conservative banking practices since 1908. This news hub provides investors with timely updates on earnings reports, regulatory filings, and strategic developments essential for informed decision-making.
Access verified press releases covering loan portfolio management, agricultural lending initiatives, and leadership updates. Track announcements about mortgage services, title insurance operations, and local economic partnerships that reflect the bank's commitment to regional growth.
All content undergoes rigorous verification to ensure accuracy, with updates spanning quarterly results, dividend declarations, and risk management strategies. Bookmark this page for centralized access to FMBM's financial communications and operational milestones.
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.
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.
