Business Segments (Tables)

9 Months Ended

Sep. 30, 2020

Business Segments

Schedule of business segments

	Nine Months Ended September 30, 2020
	F&M Bank		F&M Mortgage		TEB Life/FMFS		VS Title		Parent Only			Eliminations			F&M Bank Corp. Consolidated
Revenues:
Interest Income	$	27,199	$	227	$	115	$	-	$	-		$	(261	)	$	27,280
Service charges on deposits		888		-		-		-		-			-			888
Investment services and insurance income		-		-		543		-		-			(18	)		525
Mortgage banking income, net		-		4,521		-		-		-			-			4,521
Title insurance income		-		-		-		1,386		-			-			1,386
Other operating income (loss)		1,668		126		-		-		(99	)		-			1,695
Total income (loss)		29,755		4,874		658		1,386		(99	)		(279	)		36,295
Expenses:
Interest Expense		4,419		235		-		-		-			(261	)		4,393
Provision for loan losses		3,300		-		-		-		122			-			3,422
Salary and benefit expense		9,623		1,655		231		740		-			-			12,249
Other operating expenses		8,622		691		42		190		32			(18	)		9,559
Total expense		25,964		2,581		273		930		154			(279	)		29,623
Net income (loss) before taxes		3,791		2,293		385		456		(253	)		-			6,672
Income tax expense (benefit)		527		-		59		-		(41	)		-			545
Net income (loss)		3,264		2,293		326		456		(212	)		-			6,127
Net income attributable to non-controlling interest		-		105		-		-		-			-			105
Net Income (loss) attributable to F & M Bank Corp.	$	3,264	$	2,188	$	326	$	456	$	(212	)	$	-		$	6,022
Total Assets	$	1,019,005	$	24,589	$	7,911	$	4,664	$	105,633		$	(146,378	)	$	1,015,424
Goodwill	$	2,670	$	47	$	-	$	3	$	164		$	-		$	2,884

	Three months ended September 30, 2020
	F&M Bank		F&M Mortgage		TEB Life/FMFS		VS Title		Parent Only			Eliminations			F&M Bank Corp. Consolidated
Revenues:
Interest Income	$	9,163	$	107	$	35	$	-	$	-		$	(127	)	$	9,178
Service charges on deposits		302		-		-		-		-			-			302
Investment services and insurance income		-		-		176		-		-			(9	)		167
Mortgage banking income, net		-		1,621		-		-		-			-			1,621
Title insurance income		-		-		-		543		-			-			543
Other operating income (loss)		572		69		-		-		(46	)		-			595
Total income (loss)		10,037		1,797		211		543		(46	)		(136	)		12,406
Expenses:
Interest Expense		1,308		121		-		-		122			(127	)		1,424
Provision for loan losses		1,000		-		-		-		-			-			1,000
Salary and benefit expense		3,257		504		73		247		-			-			4,081
Other operating expenses		2,899		339		16		61		17			9	)		3,223
Total expense		8,464		964		89		308		139			(136	)		9,828
Net income (loss) before taxes		1,573		833		122		235		(185	)		-			2,578
Income tax expense		337		-		20		-		15			-			372
Net income (loss)	$	1,236	$	833	$	102	$	235	$	(200	)	$	-		$	2,206
Net Income (loss) attributable to F & M Bank Corp.	$	1,236	$	833	$	102	$	235	$	(200	)	$	-		$	2,206

	Nine Months Ended September 30, 2019
	F&M Bank			VBS Mortgage		TEB Life/FMFS		VS Title		Parent Only			Eliminations			F&M Bank Corp. Consolidated
Revenues:
Interest Income	$	29,200		$	120	$	120	$	-	$	-		$	(160	)	$	29,280
Service charges on deposits		1,263			-		-		-		-			-			1,263
Investment services and insurance income		2			-		497		-		-			(12	)		487
Mortgage banking income, net		-			2,252		-		-		-			-			2,252
Title insurance income		-			-		-		1,116		-			-			1,116
Other operating income (loss)		1,786			58		-		-		(53	)		-			1,791
Total income (loss)		32,251			2,430		617		1,116		(53	)		(172	)		36,189
Expenses:
Interest Expense		5,046			139		-		-		-			(160	)		5,025
Provision for loan losses		6,800			-		-		-		-			-			6,800
Salary and benefit expense		10,156			1,410		221		705		-			-			12,492
Other operating expenses		8,317			527		46		188		40			(12	)		9,106
Total expense		30,319			2,076		267		893		40			(172	)		33,423
Net income (loss) before taxes		1,932			354		350		223		(93	)		-			2,766
Income tax expense (benefit)		(210	)		-		51		-		84			-			(75	)
Net income (loss)	$	2,142		$	354	$	299	$	223	$	(177	)	$	-		$	2,841
Net income (loss) attributable to non-controlling interest		-			106		-		54		(54	)		-			106
Net Income (loss) attributable to F & M Bank Corp.	$	2,142		$	248	$	299	$	169	$	(123	)	$	-		$	2,735
Total Assets	$	816,130		$	12,287	$	7,617	$	2,913	$	90,390		$	(116,100	)	$	813,237
Goodwill	$	2,670		$	47	$	-	$	3	$	164		$	-		$	2,884

	Three Months Ended September 30, 2019
	F&M Bank			VBS Mortgage		TEB Life/FMFS		VS Title		Parent Only			Eliminations			F&M Bank Corp. Consolidated
Revenues:
Interest Income	$	9,945		$	52	$	45	$	-	$	-		$	(76	)	$	9,966
Service charges on deposits		460			-		-		-		-			-			460
Investment services and insurance income		-			-		172		-		-			(7	)		165
Mortgage banking income, net		-			907		-		-		-			-			907
Title insurance income		-			-		-		434		-			-			434
Other operating income (loss)		678			30		-		-		(29	)		-			679
Total income (loss)		11,083			989		217		434		(29	)		(83	)		12,611
Expenses:
Interest Expense		1,814			63		-		-		-			(76	)		1,801
Provision for loan losses		3,750			-		-		-		-			-			3,750
Salary and benefit expense		3,581			491		71		248		-			-			4,391
Other operating expenses		2,825			176		18		64		9			(7	)		3,085
Total expense		11,970			730		89		312		9			(83	)		13,027
Net income (loss) before taxes		(887	)		259		128		122		(38	)		-			(416	)
Income tax expense (benefit)		(369	)		-		18		-		44			-			(307	)
Net income (loss)	$	(518	)	$	259	$	110	$	122	$	(82	)	$	-		$	(109	)
Net income (loss) attributable to non-controlling interest		-			78		-		29		(29	)		-			78
Net Income (loss) attributable to F & M Bank Corp.	$	(518	)	$	181	$	110	$	93	$	(53	)	$	-		$	(187	)