8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 22, 2014

F & M Bank Corp.

(Exact name of registrant as specified in its charter)

Virginia	000-13273	54-1280811
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

P.O. Box 1111

Timberville, Virginia 22853

(540) 896-8941

(Address including zip code, and telephone number, including area code, of registrant’s principal executive offices)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On April 22, 2014, F & M Bank Corp. issued a press release announcing results for the quarter ended March 31, 2014. A copy of the press release is attached as Exhibit 99.1.

The information in this Form 8-K, and the exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(c)Exhibits

Exhibit No.	Description
99.1	F & M Bank Corp. press release dated April 22, 2014

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	F & M Bank Corp.
Date: April 22, 2014	By:	/s/ Carrie A. Comer
		Carrie A. Comer
		Senior Vice President and Chief Financial Officer

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EXHIBIT INDEX

Exhibit No.	Description
99.1	F & M Bank Corp. press release dated April 22, 2014

4

EX-99.1

Exhibit 99.1

F & M Bank Corp. Reports 1st Quarter 2014 Financial Results

TIMBERVILLE, VA--(Marketwired - Apr 22, 2014) - F & M Bank Corp. (OTCQB: FMBM), parent company of Farmers & Merchants Bank, announces its financial results for the first quarter and its recently declared first quarter dividend. 

Selected Financial Highlights:
	2014 Q1			2013 Q1			2013 Q4
Net Income (000's)	$	1,183		$	1,216		$	1,184
Earnings per share		0.46			0.49			0.46
Net Interest Margin		4.16	%		3.98	%		4.07	%
Allowance for loan losses		1.65	%		1.77	%		1.71	%
Provision for loan losses (000's)	$	750		$	900		$	750
Non-Performing Loans (000's)	$	11,050		$	11,685		$	12,581
Equity to Assets		11.67	%		8.86	%		9.79	%
Efficiency Ratio		60.91	%		57.74	%		61.89	%

Dean Withers, President and CEO, commented, "First quarter earnings for 2014 total $1.183 million, which is virtually unchanged from fourth quarter 2013 and down slightly from the first quarter 2013. We're very pleased that our first quarter earnings are at these levels considering the significant slowdown in mortgage banking activities. Our core earnings continue to benefit from improving net interest margin, which increased to 4.16% in the first quarter." Withers continued, "As previously announced on March 21stwe completed a $12 million capital raise that has significantly increased our capital ratios and better positions us to take advantage of growth opportunities within our various markets."

Withers stated, "Non-performing loans at $11.05 million decreased $1.53 million compared to year end 2013 and $.63 million compared to the first quarter 2013. We continue to see progress in our workout plans with several borrowers and we are on pace to meet our 2014 goals for improvement in both our non-performing and criticized asset ratios." Withers continued, "On April 17, 2014, our Board of Directors declared a first quarter dividend of $0.17 per share. Based on our most recent trade price of $18.65 per share, this dividend constitutes a 3.65% yield on an annualized basis. The dividend will be paid on May 12, 2014, to shareholders of record as of April 30, 2014." Highlights of the company's financial performance are included below.

F & M Bank Corp. is an independent, locally-owned, community bank holding company, offering a full range of financial services, through its subsidiary, Farmers & Merchants Bank's nine banking offices in Rockingham, Shenandoah and Page Counties, Virginia. The Bank also provides additional services through two loan production offices located in Penn Laird, VA and Fishersville, VA and through its subsidiary, VBS Mortgage located in Harrisonburg, VA. Additional information may be found by contacting us on the internet at www.farmersandmerchants.biz or by calling (540) 896-8941.

This press release may contain "forward-looking statements" as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in: interest rates, general economic conditions, legislative and regulatory policies, and a variety of other matters. Other risk factors are detailed from time to time in our Securities and Exchange Commission filings. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this press release. 

SOURCE: F & M Bank Corp.

F & M Bank Corp. Financial Highlights
	For Three Months Ended March 31
INCOME STATEMENT	Unaudited  2014			Unaudited  2013
Interest and Dividend Income	$	6,290,763		$	6,599,082
Interest Expense		950,231			1,278,129
Net Interest Income		5,340,532			5,320,953
Non-Interest Income		775,960			894,754
Provision for Loan Losses		750,000			900,000
Other Non-Interest Expenses		3,738,198			3,603,453
Income Before Income Taxes & Securities Transactions		1,628,294			1,712,254
Securities Gains (Losses)
Provision For Income Taxes		475,524			468,292
Less Minority Interest income (loss)		(29,951	)		28,386
Net Income	$	1,182,721		$	1,215,576
Average Shares Outstanding		2,598,639			2,500,473
Net Income Per Common Share		.46			.49
Dividends Declared		.17			.17
BALANCE SHEET	Unaudited March 31, 2014			Unaudited March 31, 2013
Cash and Due From Banks	$	7,188,824		$	5,845,092
Interest Bearing Bank Deposits		842,033			978,396
Federal Funds Sold		27,988,000			27,244,000
Loans Held for Sale		5,577,806			21,130,211
Loans Held for Investment		486,327,054			465,742,100
Less Allowance for Loan Losses		(8,009,279	)		(8,259,185	)
Net Loans Held for Investment		478,317,775			457,482,915
Securities		19,391,046			19,090,090
Other Assets		33,838,105			34,723,397
Total Assets	$	573,143,589		$	566,494,101
Deposits	$	471,543,989		$	458,979,703
Short Term Debt		3,696,874			3,172,055
Long Term Debt		11,500,000			32,285,714
Subordinated Debt		10,191,000			10,191,000
Other Liabilities		9,343,704			11,701,655
Total Liabilities		506,275,567			516,330,127
Stockholders' Equity		66,868,022			50,163,974
Total Liabilities and Stockholders' Equity	$	573,143,589		$	566,494,101
Book Value Per Common Share	$	20.34		$	20.06

CONTACT: 

Neil Hayslett

EVP/CFO

Farmers & Merchants Bank

540-896-8941 

NHayslett@FMBankVA.com