F & M Bank Corp

OTCQX US:FMBMUnited States

Nov 8, 2024

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• F&M Bank Corp. Reports Third Quarter 2024 Earnings and Quarterly Dividend, from 4:44PM ET on Friday Nov 08, 2024 by Dow Jones

  4:44PM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: FMBM
  --------- --------- --------- ---------- --------- --------- ----------- Total Liabilities 1,254,601 1,228,029 1,238,480 1,216,273 1,216,045 1,254,601 1,216,044 Shareholders' equity 89,994 81,616 77,734 78,323 67,019 89,994 67,020 Total Liabilities and Shareholders' Equity $1,344,595 $1,309,645 $1,316,214 $ 1,294,596 $1,283,064 $1,344,595 $ 1,283,064 ========= ========= ========= ========== ========= ========= =========== Condensed Income Statement Interest income and fees on loans $ 13,833 $ 13,494 $ 13,352 $ 13,061 $ 12,498 $ 40,678 $ 34,869 Interest income and fees on loans held for sale 60 46 18 22 18 123 66 Income on cash and securities 2,397 2,180 2,207 2,074 2,085 6,785 6,281 --------- --------- --------- ---------- --------- --------- ----------- Total Interest Income 16,290 15,720 15,577 15,157 14,601 47,586 41,216 Interest expense on deposits 7,440 6,951 6,337 6,108 5,804 20,728 15,059 Interest expense on short-term debt 241 454 996 812 701 1,691 2,217 Interest expense on long-term debt 116 116 115 116 116 347 343 --------- --------- --------- ---------- --------- --------- ----------- Total Interest Expense 7,797 7,521 7,448 7,036 6,621 22,766 17,619 --------- --------- --------- ---------- --------- --------- ----------- Net Interest Income 8,493 8,199 8,129 8,121 7,980 24,820 23,597 Provision for (recovery of) credit losses 902 (458) 824 (134) 619 1,268 1,159 Noninterest income 2,748 2,986 2,350 2,464 2,507 8,084 7,614 Noninterest expense 9,657 8,156 8,439 10,482 8,894 26,251 28,264 Income tax expense (benefit) (110) 471 (1) (220) (44) 360 (526) Net Income $ 792 $ 3,016 $ 1,217 $ 457 $ 1,018 $ 5,025 $ 2,314 ========= ========= ========= ========== ========= ========= =========== Per Share Data Earnings per common share - basic $ 0.23 $ 0.86 $ 0.35 $ 0.13 $ 0.29 $ 1.44 $ 0.67 Book Value per Share 25.93 23.54 22.11 22.47 19.43 25.93 19.43 Tangible Book Value per Share (1) 25.01 22.62 21.20 21.55 18.50 25.01 18.50 Key Performance Ratios Return on Average Assets 0.24% 0.93% 0.37% 0.14% 0.32% 0.51% 0.24% Return on Average Equity 3.70% 15.59% 6.25% 2.49% 5.80% 8.37% 4.29% Noninterest Income / Average Assets 0.83% 0.92% 0.71% 0.76% 0.78% 0.83% 0.80% Noninterest Expense / Average Assets 2.91% 2.52% 2.55% 3.23% 2.76% 2.68% 2.95% Efficiency Ratio (2) 83.96% 71.23% 78.67% 96.79% 82.81% 78.05% 88.41% Net Interest Margin (4) 2.77% 2.72% 2.64% 2.66% 2.70% 2.74% 2.72% Earning Asset Yield (4) 5.29% 5.19% 5.07% 4.96% 4.92% 5.24% 4.73% Cost of Interest Bearing Liabilities(4) 3.25% 3.21% 3.14% 3.00% 2.86% 3.20% 2.63% Cost of Funds(4) 2.54% 2.51% 2.45% 2.37% 2.21% 2.51% 2.01% Net Interest Spread(4) 2.75% 2.68% 2.62% 2.59% 2.71% 2.73% 2.72% Net Charge-offs $ 657 $ 179 $ 807 $ 770 $ 193 $ 1,643 $ 703 Net Charge-offs as a % of Avg Loans 0.32% 0.09% 0.39% 0.38% 0.10% 0.27% 0.12% Non-Performing Loans $ 6,578 $ 7,586 $ 6,246 $ 6,469 $ 3,586 $ 6,578 $ 3,586 Non-Performing Loans to Total Assets 0.49% 0.58% 0.47% 0.50% 0.28% 0.49% 0.28% Non-Performing Assets $ 6,578 $ 7,586 $ 6,246 $ 6,524 $ 3,586 $ 6,578 $ 3,586 Non-Performing Assets to Total Assets 0.49% 0.58% 0.47% 0.50% 0.28% 0.49% 0.28% ACLL as a % of Total Loans 0.97% 0.95% 1.02% 1.01% 1.14% 0.97% 1.14% Loans to Deposits 68.19% 69.72% 71.42% 72.54% 70.85% 68.19% 70.85%