F&M Bank Corp Q2 net income falls to $241,000; declares $0.26 dividend

F&M BANK CORP

Net income $241K ($0.07 EPS) vs $1.1M ($0.30) linked Q1 and $1.8M ($0.51) year-ago Q2.
Net interest income $7.8M, down $58K linked and $1.2M YoY; NIM fell 10 bp to 2.66%.
One-time severance accruals: $764K in Q2 and $261K in Q1, totaling $1.0M after-tax in H1.
Loans grew $32.7M to $776.3M, deposits up $53.7M to $1.14B since year-end 2022.
Dividend $0.26/share payable Aug 29; record Aug 14; annualized yield 4.62% at $22.50 close.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

F&M BANK CORP reported the quarter ended June 30, 2023 results: net income $241,000, EPS $0.07 per share.

Period: the quarter ended June 30, 2023
Net income: $241,000
EPS: $0.07 per share
Result: reported results

Exact text from the filing

Net income was $241,000 or $0.07 per share for the quarter ended June 30, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

F&M BANK CORP reported the six months ended June 30, 2023 results: net income $1.3 million.

Period: the six months ended June 30, 2023
Net income: $1.3 million
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, net income was $1.3 million

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Source: SEC EDGAR

accession 0001654954-23-009754

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