XML 60 R50.htm IDEA: XBRL DOCUMENT v3.7.0.1
10. Business Segments (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Net interest income $ 7,331,000 $ 7,075,000 $ 14,435,000 $ 13,903,000  
Service charges on deposits 335,000 272,000 651,000 506,000  
Investment services and insurance income 187,000 (29,000) 361,000 65,000  
Mortgage banking income, net 613,000 752,000 1,113,000 1,196,000  
Title insurance income 355,000 0 554,000 0  
Income from bank owned life insurance 112,000 118,000 224,000 237,000  
Low income housing partnership losses (201,000) (183,000) (386,000) (365,000)  
ATM and check card fees 351,000 318,000 681,000 692,000  
Gain on prepayment of long-term debt     (504,000) 0  
Other operating income 130,000 130,000 268,000 250,000  
Expenses:          
Interest Expense 925,000 862,000 1,831,000 1,675,000  
Provision for loan losses 0 0 0 0  
Salary expense 2,628,000 2,133,000 5,362,000 4,543,000  
Employee benefit expense 852,000 661,000 1,805,000 1,414,000  
Occupancy expense 254,000 210,000 503,000 428,000  
Equipment expense 207,000 230,000 393,000 422,000  
FDIC insurance assessment 90,000 113,000 180,000 225,000  
Marketing expense 122,000 131,000 257,000 268,000  
Legal and professional fees 79,000 105,000 175,000 193,000  
ATM and check card fees 178,000 172,000 346,000 333,000  
Telecom and data processing expense 352,000 289,000 675,000 552,000  
Directors fees 116,000 100,000 243,000 208,000  
Bank franchise Tax 164,000 163,000 324,000 310,000  
Income tax expense 809,000 839,000 1,686,000 1,533,000  
Net income (loss) 2,387,000 2,444,000 4,705,000 4,538,000  
Total Assets 744,263,000   744,263,000   $ 744,889,000
Goodwill 2,974,000   2,974,000   $ 2,670,000
F&M Bank Member          
Net interest income 8,209,919 7,893,961 16,170,387 15,492,768  
Service charges on deposits 335,382 272,329 650,718 506,028  
Investment services and insurance income 489 163 585 508  
Mortgage banking income, net 0 0 0 0  
Title insurance income 0 0 0 0  
Income from bank owned life insurance 111,455 118,068 223,711 236,652  
Low income housing partnership losses (200,813) (182,694) (386,142) (365,387)  
ATM and check card fees 351,505 318,287 681,448 692,194  
Gain on prepayment of long-term debt 0 0 503,830 0  
Loss on investments 0 0 0 0  
Other operating income 129,815 129,743 268,370 249,751  
Total income 8,937,752 8,549,857 18,112,967 16,812,514  
Expenses:          
Interest Expense 926,890 863,306 1,834,272 1,678,349  
Provision for loan losses 0 0 0 0  
Salary expense 2,260,954 1,940,505 4,453,744 4,023,139  
Employee benefit expense 707,438 602,158 1,523,051 1,299,406  
Occupancy expense 202,205 179,648 403,120 367,578  
Equipment expense 189,060 170,651 359,175 354,155  
FDIC insurance assessment 90,000 112,500 180,000 225,000  
Other real estate owned, net 11,843 35,142 25,608 52,841  
Marketing expense 99,963 118,924 216,205 234,904  
Legal and professional fees 76,663 102,037 170,299 188,310  
ATM and check card fees 176,934 170,791 344,257 330,966  
Telecom and data processing expense 325,679 266,194 624,886 509,256  
Directors fees 105,000 96,000 210,000 192,000  
Bank franchise Tax 164,249 162,643 324,255 310,303  
Other operating expenses 717,539 655,378 1,360,275 1,254,784  
Total expense 6,054,417 5,475,877 12,029,147 11,020,991  
Income tax expense 800,944 878,180 1,669,606 1,582,813  
Net income (loss) 2,082,391 2,195,800 4,414,214 4,208,710  
Net income (loss) attributable to noncontrolling interest 0 0 0 0  
Net Income attributable to F & M Bank Corp. 2,082,391 2,195,800 4,414,214 4,208,710  
Total Assets 746,193,130 733,417,958 746,193,130 733,417,958  
Goodwill 2,669,517 2,669,517 2,669,517 2,669,517  
VBS Mortgage          
Net interest income 30,051 6,885 65,347 13,213  
Service charges on deposits 0 0 0 0  
Investment services and insurance income 0 0 0 0  
Mortgage banking income, net 612,594 751,388 1,112,521 1,196,444  
Title insurance income 0 0 0 0  
Income from bank owned life insurance 0 0 0 0  
Low income housing partnership losses 0 0 0 0  
ATM and check card fees 0 0 0 0  
Gain on prepayment of long-term debt 0 0 0 0  
Loss on investments 0 0 (39,474) 0  
Other operating income 0 0 0 0  
Total income 642,645 758,273 1,138,394 1,209,657  
Expenses:          
Interest Expense 20,123 0 41,268 0  
Provision for loan losses 0 0 0 0  
Salary expense 129,586 117,122 449,573 380,298  
Employee benefit expense 81,160 58,833 166,785 114,529  
Occupancy expense 36,398 30,150 66,596 60,471  
Equipment expense 9,587 59,690 18,903 68,137  
FDIC insurance assessment 0 0 0 0  
Other real estate owned, net 0 0 0 0  
Marketing expense 17,339 12,169 33,850 32,593  
Legal and professional fees 2,475 2,574 4,725 5,049  
ATM and check card fees 990 1,571 1,923 2,155  
Telecom and data processing expense 26,345 22,537 50,513 42,828  
Directors fees 11,334 3,500 33,334 15,500  
Bank franchise Tax 0 0 0 0  
Other operating expenses 215,934 154,862 260,440 187,519  
Total expense 551,271 463,008 1,127,910 909,079  
Income tax expense 0 0 0 0  
Net income (loss) 91,374 295,265 10,484 300,578  
Net income (loss) attributable to noncontrolling interest 27,412 86,410 3,145 90,173  
Net Income attributable to F & M Bank Corp. 63,982 208,855 7,339 210,405  
Total Assets 6,027,200 2,296,877 6,027,200 2,296,877  
Goodwill 0 0 0 0  
TEB Life/FMFS          
Net interest income 37,719 37,914 74,993 75,030  
Service charges on deposits 0 0 0 0  
Investment services and insurance income 186,625 (29,057) 360,416 64,830  
Mortgage banking income, net 0 0 0 0  
Title insurance income 0 0 0 0  
Income from bank owned life insurance 0 0 0 0  
Low income housing partnership losses 0 0 0 0  
ATM and check card fees 0 0 0 0  
Gain on prepayment of long-term debt 0 0 0 0  
Loss on investments 0 0 (2,440) 0  
Other operating income 0 0 0 0  
Total income 224,344 8,857 432,969 139,860  
Expenses:          
Interest Expense 0 0 0 0  
Provision for loan losses 0 0 0 0  
Salary expense 118,650 75,767 234,209 139,463  
Employee benefit expense 0 0 0 0  
Occupancy expense 0 0 0 0  
Equipment expense 0 0 0 0  
FDIC insurance assessment 0 0 0 0  
Other real estate owned, net 0 0 0 0  
Marketing expense 3,910 198 4,315 549  
Legal and professional fees 0 0 0 0  
ATM and check card fees 0 0 0 0  
Telecom and data processing expense 0 0 0 0  
Directors fees 0 0 0 0  
Bank franchise Tax 0 0 0 0  
Other operating expenses 9,453 18,456 12,844 21,051  
Total expense 132,013 94,421 251,368 161,063  
Income tax expense 26,172 12,321 52,842 31,828  
Net income (loss) 66,159 (97,885) 128,759 (53,031)  
Net income (loss) attributable to noncontrolling interest 0 0 0 0  
Net Income attributable to F & M Bank Corp. 66,159 (97,885) 128,759 (53,031)  
Total Assets 6,630,313 6,328,376 6,630,313 6,328,376  
Goodwill 0 0 0 0  
VS Title          
Net interest income 0 0 0 0  
Service charges on deposits 0 0 0 0  
Investment services and insurance income 0 0 0 0  
Mortgage banking income, net 0 0 0 0  
Title insurance income 355,351 0 553,897 0  
Income from bank owned life insurance 0 0 0 0  
Low income housing partnership losses 0 0 0 0  
ATM and check card fees 0 0 0 0  
Gain on prepayment of long-term debt 0 0 0 0  
Loss on investments 0 0 0 0  
Other operating income 0 0 0 0  
Total income 355,351 0 553,897 0  
Expenses:          
Interest Expense 0 0 0 0  
Provision for loan losses 0 0 0 0  
Salary expense 118,846 0 224,572 0  
Employee benefit expense 63,226 0 114,808 0  
Occupancy expense 15,645 0 33,505 0  
Equipment expense 8,353 0 15,039 0  
FDIC insurance assessment 0 0 0 0  
Other real estate owned, net 0 0 0 0  
Marketing expense 791 0 2,536 0  
Legal and professional fees 0 0 0 0  
ATM and check card fees 0 0 0 0  
Telecom and data processing expense 0 0 0 0  
Directors fees 0 0 0 0  
Bank franchise Tax 0 0 0 0  
Other operating expenses 18,064 0 44,099 0  
Total expense 224,925 0 434,559 0  
Income tax expense 0 0 0 0  
Net income (loss) 130,426 0 119,338 0  
Net income (loss) attributable to noncontrolling interest 31,302 0 28,641 0  
Net Income attributable to F & M Bank Corp. 99,124 0 90,697 0  
Total Assets 274,400 0 274,400 0  
Goodwill 0 0 0 0  
Parent Only          
Net interest income 0 0 13 0  
Service charges on deposits 0 0 0 0  
Investment services and insurance income 0 0 0 0  
Mortgage banking income, net 0 0 0 0  
Title insurance income 0 0 0 0  
Income from bank owned life insurance 0 0 0 0  
Low income housing partnership losses 0 0 0 0  
ATM and check card fees 0 0 0 0  
Gain on prepayment of long-term debt 0 0 0 0  
Loss on investments 0 0 0 0  
Other operating income 0 0 0 0  
Total income 0 0 13 0  
Expenses:          
Interest Expense 0 0 0 0  
Provision for loan losses 0 0 0 0  
Salary expense 0 0 0 0  
Employee benefit expense 0 0 0 0  
Occupancy expense 0 0 0 0  
Equipment expense 0 0 0 0  
FDIC insurance assessment 0 0 0 0  
Other real estate owned, net 0 0 0 0  
Marketing expense 0 0 0 0  
Legal and professional fees 0 0 0 0  
ATM and check card fees 0 0 0 0  
Telecom and data processing expense 0 0 0 0  
Directors fees 0 0 0 0  
Bank franchise Tax 0 0 0 0  
Other operating expenses 1,125 200 3,825 400  
Total expense 1,125 200 3,825 400  
Income tax expense (17,717) (51,556) (35,968) (81,993)  
Net income (loss) 16,592 51,356 32,156 81,593  
Net income (loss) attributable to noncontrolling interest 0 0 0  
Net Income attributable to F & M Bank Corp. 16,592 51,356 32,156 81,593  
Total Assets 89,908,521 86,082,770 89,908,521 86,082,770  
Goodwill 304,000 0 304,000 0  
Eliminations          
Net interest income (22,052) (1,550) (44,763) (3,037)  
Service charges on deposits 0 0 0 0  
Investment services and insurance income 0 0 0 0  
Mortgage banking income, net 0 0 0 0  
Title insurance income 0 0 0 0  
Income from bank owned life insurance 0 0 0 0  
Low income housing partnership losses 0 0 0 0  
ATM and check card fees 0 0 0 0  
Gain on prepayment of long-term debt 0 0 0 0  
Loss on investments 0 0 0 0  
Other operating income 0 0 0 0  
Total income (22,052) (1,550) (44,763) (3,037)  
Expenses:          
Interest Expense (22,052) (1,550) (44,763) (3,037)  
Provision for loan losses 0 0 0 0  
Salary expense 0 0 0 0  
Employee benefit expense 0 0 0 0  
Occupancy expense 0 0 0 0  
Equipment expense 0 0 0 0  
FDIC insurance assessment 0 0 0 0  
Other real estate owned, net 0 0 0 0  
Marketing expense 0 0 0 0  
Legal and professional fees 0 0 0 0  
ATM and check card fees 0 0 0 0  
Telecom and data processing expense 0 0 0 0  
Directors fees 0 0 0 0  
Bank franchise Tax 0 0 0 0  
Other operating expenses 0 0 0 0  
Total expense (22,052) (1,550) (44,763) (3,037)  
Income tax expense 0 0 0 0  
Net income (loss) 0 0 0 0  
Net income (loss) attributable to noncontrolling interest 0 0 0 0  
Net Income attributable to F & M Bank Corp. 0 0 0 0  
Total Assets (104,770,806) (98,088,075) (104,770,806) (98,088,075)  
Goodwill 0 0 0 0  
F&M Bank Corp Consolidated          
Net interest income 8,255,637 7,937,210 16,265,977 15,577,974  
Service charges on deposits 335,382 272,329 650,718 506,028  
Investment services and insurance income 187,114 (28,894) 361,001 65,338  
Mortgage banking income, net 612,594 751,388 1,112,521 1,196,444  
Title insurance income 355,351 0 553,897 0  
Income from bank owned life insurance 111,455 118,068 223,771 236,652  
Low income housing partnership losses (200,813) (182,694) (386,142) (365,387)  
ATM and check card fees 351,505 318,287 681,448 692,194  
Gain on prepayment of long-term debt 0 0 503,830 0  
Loss on investments 0 0 (41,914) 0  
Other operating income 129,815 129,743 268,370 249,751  
Total income 10,138,040 9,315,437 20,193,477 18,158,994  
Expenses:          
Interest Expense 924,961 861,756 1,830,777 1,675,312  
Provision for loan losses 0 0 0 0  
Salary expense 2,628,036 2,133,394 5,362,098 4,542,900  
Employee benefit expense 851,824 660,991 1,804,644 1,413,935  
Occupancy expense 254,248 209,798 503,221 428,049  
Equipment expense 207,000 230,341 393,117 422,292  
FDIC insurance assessment 90,000 112,500 180,000 225,000  
Other real estate owned, net 11,843 35,142 25,608 52,841  
Marketing expense 122,003 131,291 256,906 268,046  
Legal and professional fees 79,138 104,611 175,024 193,359  
ATM and check card fees 177,924 172,362 346,180 333,121  
Telecom and data processing expense 352,024 288,731 675,399 552,084  
Directors fees 116,334 99,500 243,334 207,500  
Bank franchise Tax 164,249 162,643 324,255 310,303  
Other operating expenses 962,115 828,896 1,681,483 1,463,754  
Total expense 6,941,699 6,031,956 13,802,046 12,088,496  
Income tax expense 809,399 838,945 1,686,480 1,532,648  
Net income (loss) 2,386,942 2,444,536 4,704,951 4,537,850  
Net income (loss) attributable to noncontrolling interest 58,714 86,410 31,786 90,173  
Net Income attributable to F & M Bank Corp. 2,328,228 2,358,126 4,673,165 4,447,677  
Total Assets 744,262,758 730,037,906 744,262,758 730,037,906  
Goodwill $ 2,973,517 $ 2,669,517 $ 2,973,517 $ 2,669,517