Virginia
(State
or other jurisdiction
of
incorporation)
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000-13273
(Commission File
Number)
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54-1280811
(IRS
Employer
Identification
No.)
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|
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P.O. Box
1111Timberville, Virginia
(Address of
principal executive offices)
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22853
(Zip
Code)
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F & M Bank Corp.
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Date: October 21, 2016
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By:
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/s/
Neil
W. Hayslett
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Neil
W. Hayslett
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Executive
Vice President and Chief Administrative
Officer
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CONTACT:
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Neil Hayslett, EVP/Chief Administrative
Officer
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540-896-8941or NHayslett@FMBankVA.com
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2016
|
2015
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||||||
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Q3
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Q2
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Q1
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YTD
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Q3
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Q2
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Q1
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YTD
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Net
Income (000's)
|
$2,601
|
$2,358
|
$2,090
|
$7,049
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$2,189
|
$2,176
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$1,871
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$6,236
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Net
Income available to Common
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$2,474
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$2,231
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$1,962
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$6,667
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$2,062
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$2,049
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$1,743
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$5,854
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Earnings
per common share
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$0.75
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$0.68
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$0.60
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$2.03
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$0.63
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$0.62
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$0.53
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$1.78
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Return
on Average Assets
|
1.43%
|
1.35%
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1.27%
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1.35%
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1.38%
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1.42%
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1.25%
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1.32%
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Return
on Average Equity
|
11.99%
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11.08%
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10.07%
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11.03%
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10.97%
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11.63%
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10.38%
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10.50%
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Dividend
Payout Ratio
|
29.22%
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29.46%
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31.81%
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30.07%
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30.16%
|
29.03%
|
33.96%
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30.34%
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|
|
|
|
|
|
|
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Net
Interest Margin
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4.23%
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4.37%
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4.39%
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4.33%
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4.41%
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4.46%
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4.46%
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4.45%
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Yield
on Average Earning Assets
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4.80%
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4.90%
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4.91%
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4.87%
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4.88%
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4.93%
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4.94%
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4.92%
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Yield
on Average Interest Bearing Liabilities
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0.79%
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0.75%
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0.74%
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0.76%
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0.67%
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0.66%
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0.67%
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0.66%
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Net
Interest Spread
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4.01%
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4.15%
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4.17%
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4.11%
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4.21%
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4.27%
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4.27%
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4.26%
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Provision
for Loan Losses (000's)
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$-
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$-
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$-
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$-
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$-
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$-
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$300
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$300
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Net
Charge-offs
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$497
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$671
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$42
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$1,210
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$45
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$24
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$86
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$155
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Net
Charge-offs as a % of Loans
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0.34%
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0.47%
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0.03%
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0.28%
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0.03%
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0.02%
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0.07%
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0.04%
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Non-Performing
Loans (000's)
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$6,196
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$5,545
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$6,709
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$6,196
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$6,386
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$7,299
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$7,174
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$6,386
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Non-Performing
Loans to Total Assets
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0.83%
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0.76%
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0.98%
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0.83%
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0.97%
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1.13%
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1.11%
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0.97%
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Non-Performing
Assets (000's)
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$8,370
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$8,331
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$9,486
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$8,370
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$9,081
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$9,744
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$9,943
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$9,081
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Non-Performing
Assets to Assets
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1.12%
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1.14%
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1.38%
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1.12%
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1.38%
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1.50%
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1.54%
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1.38%
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Efficiency
Ratio
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59.68%
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60.35%
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61.19%
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60.39%
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57.99%
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59.65%
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60.36%
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58.96%
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For Nine
Months
Ended September
30
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INCOME
STATEMENT
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Unaudited
2016
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Unaudited
2015
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Interest and
Dividend Income
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$23,763,034
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$21,834,518
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Interest
Expense
|
2,645,378
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2,105,120
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Net Interest
Income
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21,117,656
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19,729,398
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Non-Interest
Income
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2,738,999-
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2,880,037
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Provision for Loan
Losses
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-
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300,000
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Other Non-Interest
Expenses
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14,465,845
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13,371,621
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Income Before
Income Taxes
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9,390,810
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8,937,814
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Provision for
Income Taxes
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2,187,368
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2,586,293
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Less Minority
Interest income
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154,200
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115,397
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Net
Income
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$7,049,242
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$6,236,124
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Dividend on
preferred stock
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382,500
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382,500
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Net Income
available to common shareholders
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$6,666,742
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$5,853,624
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Average Common
Shares Outstanding
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3,286,165
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3,292,709
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Net Income Per
Common Share
|
2.03
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1.78
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Dividends
Declared
|
.61
|
.54
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BALANCE
SHEET
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Unaudited
September 30,
2016
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Unaudited
September 30,
2015
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Cash and Due from
Banks
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$7,718,975
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$6,420,254
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Interest Bearing
Bank Deposits
|
285,630
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489,849
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Federal Funds
Sold
|
4,151,000
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-
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Loans Held for
Sale
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83,164,093
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55,481,773
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Loans Held for
Investment
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578,088,508
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540,414,615
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Less
Allowance for Loan Losses
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(7,570,826)
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(8,869,905)
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Net
Loans Held for Investment
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570,517,682
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531,544,710
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Securities
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38,641,591
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24,143,104
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Other
Assets
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40,813,107
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38,021,163
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Total
Assets
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$745,292,078
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$656,100,853
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Deposits
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$527,823,741
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$483,816,907
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Short Term
Debt
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51,228,742
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38,239,340
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Long Term
Debt
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65,089,286
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38,892,857
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Other
Liabilities
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13,624,827
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13,313,770
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Total
Liabilities
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657,766,596
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574,262,874
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Preferred
Stock
|
9,425,123
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9,425,123
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Common
Equity
|
78,100,359
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72,412,856
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Stockholders’
Equity
|
87,525,482
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81,837,979
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Total
Liabilities and Stockholders’ Equity
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$745,292,078
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$656,100,853
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Book Value Per
Common Share
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$23.56
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$21.72
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Tangible Book Value
Per Common Share
|
$23.77
|
$21.99
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