secwatch.observer — SEC 8-K summary
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Issuer:     F&M BANK CORP (FMBM)
CIK:        0000740806
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0001654954-24-001027
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/0001654954-24-001027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/740806/000165495424001027/fmbm_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-001027

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