secwatch.observer — SEC 8-K summary
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Issuer:     F&M BANK CORP (FMBM)
CIK:        0000740806
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001654954-24-005271
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

F&M Bank Corp reports Q1 2024 net income of $1.2M, EPS $0.35, declares dividend
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- Net income $1.2M ($0.35 EPS) vs $1.1M ($0.30) in Q1 2023; net interest margin 2.64% down 12bps YoY.
- Total assets $1.32B, total loans $825.9M (+$3.8M), total deposits $1.16B (+$23.1M) vs Dec 31, 2023.
- Noninterest expenses $8.4M, down $2.1M linked quarter due to prior Q4 severance of $1.4M pre-tax.
- Provision for credit losses $823K including net charge-offs $807K; ACLL 1.02% of gross loans.
- Dividend declared; tangible book value per share $21.20 vs $21.55 at Dec 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/740806/000165495424005271/0001654954-24-005271-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/740806/000165495424005271/fmbm_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-005271

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