F&M Bank Q3 net income falls to $1.0M from $2.3M; loans increase $62M YTD

F&M BANK CORP

Net income $1.0M ($0.29/diluted share) vs $2.3M ($0.67) in Q3 2022; nine-month net income $2.3M vs $6.6M.
Total loans $805.6M at Sept 30, up $62M YTD; deposits $1.13B, up $50.5M.
Net interest margin down 41 bps YoY to 2.67% as interest expense outpaced income growth.
Noninterest expenses $28.3M YTD included $1.0M in severance accruals; prior year $27.0M.

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 three and nine months ended September 30, 2023 results: net income $1.0 million, EPS $0.29 per share.

Period: three and nine months ended September 30, 2023
Net income: $1.0 million
EPS: $0.29 per share
Result: reported results

Exact text from the filing

On November 1, 2023, F & M Bank Corp. (the “Company”) issued a press release announcing results for the three and nine months ended September 30, 2023

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F&M BANK CORP filing history →

Source: SEC EDGAR

accession 0001654954-23-013691

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