secwatch.observer — SEC 8-K summary
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Issuer:     F&M BANK CORP (FMBM)
CIK:        0000740806
Form:       8-K/A
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001654954-23-005746
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/0001654954-23-005746-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/740806/000165495423005746/fmbm_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-005746

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