F&M Bank Corp. Reports Year-End and Fourth Quarter 2023 Earnings and Quarterly Dividend [Yahoo! Finance]
F & M BANK CORP (FMBM)
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Source: Yahoo! Finance
Bank ("F&M Bank" or the "Bank") today reported results for the quarter and year ended December 31, 2023. Net income was $457,000 or $0.13 per share for the quarter ended December 31, 2023, compared to $1.0 million or $0.29 per share for the linked quarter ended September 30, 2023, and compared to $1.7 million or $0.49 per share for the prior year quarter ended December 31, 2022. For the year ended December 31, 2023, net income was $2.8 million or $0.79 per share, which includes $1.8 million in after-tax, one-time expenses. These one-time expenses, which are intended to drive cost savings in future periods, include severance accruals for former bank officers that occurred in the first half of 2023 and expenses related to a voluntary early exit plan announced in the fourth quarter. By comparison, the Company earned $8.3 million or $2.41 per share in 2022. At December 31, 2023, the Company had total assets of $1.29 billion, total loans of $822.1 million, and total deposits of $1.13 b
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Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- FMBM's page on the SEC website