F&M Bank Corp Q1 2024 net income $1.2M ($0.35/share), up from $1.1M in Q1 2023

F&M BANK CORP

2025-Q1 EPS reported $0.35

Net income of $1.2M ($0.35 diluted EPS) vs $1.1M ($0.30) in Q1 2023 and $457K ($0.13) in Q4 2023.
Net interest margin 2.64%, down 12 bps YoY; net interest income $8.1M, up $244K from prior year.
Total assets $1.32B; loans $825.9M (+$3.8M QoQ); deposits $1.16B (+$23.1M QoQ); noninterest-bearing deposits up $2.9M.
Provision for credit losses $823K vs zero in Q1 2023, reflecting $807K net charge-offs; ACLL at 1.02% of loans.
Declared quarterly dividend; noninterest expenses fell $2.1M from Q4 2023 due to prior quarter severance costs.

item 2.02 item 9.01

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 the quarter ended March 31, 2024 results: net income $1.2 million, EPS $0.35 per share.

Period: the quarter ended March 31, 2024
Net income: $1.2 million
EPS: $0.35 per share
Result: reported results

Exact text from the filing

Net income was $1.2 million or $0.35 per share for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001654954-24-005289

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