8-K/A
filed May 3, 2023, 7:59 PM ET
ticker FMBM
CIK 0000740806
earnings
confidence high
sentiment negative
materiality 0.70
F&M Bank Q1 net income $1.1M ($0.30 EPS), down 56% YoY; dividend $0.26
F&M BANK CORP
- Net income of $1.1M vs $2.5M in Q1 2022; EPS $0.30 vs $0.74.
- Net interest margin fell 28 bps linked to 2.76% due to higher funding costs.
- Deposits grew $21.9M in Q1 to $1.11B; uninsured deposits 11.45%.
- Adopted CECL, adding $777k to ACL and $749k reserve for unfunded commitments.
- Board declared $0.26/sh dividend, payable May 30, 2023, record May 15.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
F&M BANK CORP reported prior year quarter ended March 31, 2022 results: net income $2.5 million, EPS $0.74 per share.
- Period
- prior year quarter ended March 31, 2022
- Net income
- $2.5 million
- EPS
- $0.74 per share
- Result
- reported results
Exact text from the filing
Net income was $1.1 million or $0.30 per share for the quarter ended March 31, 2023, compared to $1.7 million or $0.49 per share for the linked quarter ended December 31, 2022, and compared to $2.5 million or $0.74 per share for the prior year quarter ended March 31, 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
F&M BANK CORP reported linked quarter ended December 31, 2022 results: net income $1.7 million, EPS $0.49 per share.
- Period
- linked quarter ended December 31, 2022
- Net income
- $1.7 million
- EPS
- $0.49 per share
- Result
- reported results
Exact text from the filing
Net income was $1.1 million or $0.30 per share for the quarter ended March 31, 2023, compared to $1.7 million or $0.49 per share for the linked quarter ended December 31, 2022, and compared to $2.5 million or $0.74 per share for the prior year quarter ended March 31, 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
F&M BANK CORP reported quarter ended March 31, 2023 results: net income $1.1 million, EPS $0.30 per share.
- Period
- quarter ended March 31, 2023
- Net income
- $1.1 million
- EPS
- $0.30 per share
- Result
- reported results
Exact text from the filing
Net income was $1.1 million or $0.30 per share for the quarter ended March 31, 2023, compared to $1.7 million or $0.49 per share for the linked quarter ended December 31, 2022, and compared to $2.5 million or $0.74 per share for the prior year quarter ended March 31, 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
F&M BANK CORP reported three months ended March 31, 2023 results: revenue $7.8 million.
- Period
- three months ended March 31, 2023
- Revenue
- $7.8 million
- Result
- reported results
Exact text from the filing
Net Interest Income For first quarter 2023, net interest income totaled $7.8 million, a decrease of $921,000 from fourth quarter 2022, as a $872,000 increase in interest income was outpaced by a $1.8 million increase in interest expense due to higher funding rates, plus higher short-term debt average balances.
View on SEC.gov
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