---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-005746"
form_type: "8-K/A"
ticker: "FMBM"
cik: "0000740806"
company_name: "F&M BANK CORP"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:56:40.035704+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# F&M Bank Q1 net income $1.1M ($0.30 EPS), down 56% YoY; dividend $0.26

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-23-005746
- form_type: 8-K/A
- ticker: FMBM
- cik: 0000740806
- company_name: F&M BANK CORP
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/0001654954-23-005746-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/fmbm_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-005746
- JSON: https://secwatch.observer/filing/0001654954-23-005746.json
- Plain text: https://secwatch.observer/filing/0001654954-23-005746.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/0001654954-23-005746-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/0001654954-23-005746-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/0001654954-23-005746-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/0001654954-23-005746-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.