F&M Bank Corp. restructures bond portfolio using $4.8M gain from Bearing Insurance sale

F&M BANK CORP

Sold $29.8M book value of AFS securities (1.66% yield) and bought $29.4M (4.92% yield) in June 2026.
Pre-tax loss on restructuring $3.5M; after-tax loss $2.7M expected to recover over ~3.5 years.
Annualized EPS improvement of ~$0.21/share and net interest margin increase of ~6 bps expected.
Net pre-tax gain from Bearing sale and restructuring combined is $1.3M; no impact on tangible book value.
CEO Mike Wilkerson says restructuring supports sustainable profitability and accelerates performance.

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