---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-001027"
form_type: "8-K"
ticker: "FMBM"
cik: "0000740806"
company_name: "F&M BANK CORP"
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:25:48.291116+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# F&M Bank Q4 net income $457k ($0.13); full year $2.8M; includes $1.8M severance

## Summary
- Q4 net income $457k ($0.13/diluted) versus $1.0M ($0.29) in Q3 2023 and $1.7M ($0.49) in Q4 2022.
- FY 2023 net income $2.8M ($0.79) down from $8.3M ($2.41) in 2022; includes $1.8M after-tax severance and early exit costs.
- Total loans grew $78.5M to $822.1M; deposits up $49.9M to $1.13B; uninsured deposits 11.60%.
- Net interest margin 2.66% in Q4, down 1bp linked quarter and 38bps YoY; $134k recovery of credit losses.
- Quarterly dividend declared (amount not specified); tangible book value per share rose to $21.55 from $19.55.

## SEC filing metadata
- accession: 0001654954-24-001027
- form_type: 8-K
- ticker: FMBM
- cik: 0000740806
- company_name: F&M BANK CORP
- filed_at: 2024-01-30T23:59:59+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/740806/000165495424001027/0001654954-24-001027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/fmbm_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-001027
- JSON: https://secwatch.observer/filing/0001654954-24-001027.json
- Plain text: https://secwatch.observer/filing/0001654954-24-001027.txt

## Key facts
- Earnings Releases
  F&M BANK CORP reported quarter and year ended December 31, 2023 results: net income 1.7 million, EPS 0.49.
  - Period: quarter and year ended December 31, 2023
  - Net income: 1.7 million
  - EPS: 0.49
  - Result: reported results
  source text: Net income was $457,000 or $0.13 per share for the quarter ended December 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/0001654954-24-001027-index.htm
- Earnings Releases
  F&M BANK CORP reported quarter and year ended December 31, 2023 results: net income 1.7 million, EPS 0.49.
  - Period: quarter and year ended December 31, 2023
  - Net income: 1.7 million
  - EPS: 0.49
  - Result: reported results
  source text: compared to $1.0 million or $0.29 per share for the linked quarter ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/0001654954-24-001027-index.htm
- Earnings Releases
  F&M BANK CORP reported quarter and year ended December 31, 2023 results: net income 1.7 million, EPS 0.49.
  - Period: quarter and year ended December 31, 2023
  - Net income: 1.7 million
  - EPS: 0.49
  - Result: reported results
  source text: and compared to $1.7 million or $0.49 per share for the prior year quarter ended December 31, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/0001654954-24-001027-index.htm
- Earnings Releases
  F&M BANK CORP reported year ended December 31, 2022 results: net income 8.3 million, EPS 2.41.
  - Period: year ended December 31, 2022
  - Net income: 8.3 million
  - EPS: 2.41
  - Result: reported results
  source text: the Company earned $8.3 million or $2.41 per share in 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/0001654954-24-001027-index.htm
- Earnings Releases
  F&M BANK CORP reported year ended December 31, 2023 results: net income 2.8 million, EPS 0.79.
  - Period: year ended December 31, 2023
  - Net income: 2.8 million
  - EPS: 0.79
  - Result: reported results
  source text: For the year ended December 31, 2023, net income was $2.8 million or $0.79 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/0001654954-24-001027-index.htm

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