secwatch.observer — SEC 8-K summary
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Issuer:     F&M BANK CORP (FMBM)
CIK:        0000740806
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001654954-23-009754
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/740806/000165495423009754/0001654954-23-009754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/740806/000165495423009754/fmbm_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-009754

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