F&M Bank Corp (FMBM) Financial Statements (2024 and earlier)

Company Profile

Business Address P.O. BOX 1111
TIMBERVILLE, VA 22853
State of Incorp. VA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments34,953492,128185,43275,80410,91211,907
Cash and cash equivalents34,95388,12178,40875,80410,91211,907
Short-term investments  404,007107,024   
Receivables 3,995665,5382,727603,425638,799616,974
Deferred tax assets1,2091,310
Total current assets:38,9481,157,666188,159679,229650,920630,191
Noncurrent Assets
Operating lease, right-of-use asset    912
Property, plant and equipment19,58717,06317,90918,93117,76615,894
Long-term investments and receivables720,8063,997639,472   
Long-term investments720,8063,997639,472   
Intangible assets, net (including goodwill)3,0823,08213,5562,8842,8842,881
Goodwill3,0823,0822,8842,8842,8842,881
Intangible assets, net (excluding goodwill)   10,672   
Total noncurrent assets:743,47524,142670,93722,72720,65018,775
Other undisclosed assets463,47937,534107,834112,043108,683104,304
TOTAL ASSETS:1,245,9021,219,342966,930813,999780,253753,270
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 3,4004,419    
Interest and dividends payable491    
Accrued liabilities 3,4003,928    
Debt160,000503010,00040,11625,296
Other liabilities      
Total current liabilities:163,4004,4693010,00040,11625,296
Noncurrent Liabilities
Long-term debt and lease obligation6,89021,77233,20253,20140,21849,733
Long-term debt, excluding current maturities6,89021,77233,20253,20140,21849,733
Liabilities, other than long-term debt  1,092,322    
Lease deposit liability  1,092,322  
Total noncurrent liabilities:6,8901,114,09433,20253,20140,21849,733
Other undisclosed liabilities1,004,820323838,069659,223608,008586,966
Total liabilities:1,175,1101,118,886871,301722,424688,342661,995
Equity
Equity, attributable to parent, including:70,792100,45695,62991,57591,91191,275
Preferred stock   4,5584,5925,6727,529
Common stock17,14917,07116,01716,04216,06616,275
Additional paid in capital10,57710,1276,8667,5107,98710,225
Accumulated other comprehensive loss(40,012)(5,092)(3,017)(3,211)(3,969)(4,142)
Retained earnings83,07878,35071,20566,00865,59660,814
Other undisclosed equity, attributable to parent    634559574
Total equity:70,792100,45695,62991,57591,91191,275
TOTAL LIABILITIES AND EQUITY:1,245,9021,219,342966,930813,999780,253753,270

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues35,45633,42935,05946,18242,99637,226
Net investment income34,45832,51634,46237,71536,24933,757
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
   (3,300)(7,405)(2,930) 
Gross profit:35,45633,42931,75938,77740,06637,226
Operating expenses(18,520)(17,351)(16,729)(23,650)(18,775)(14,057)
Operating income:16,93616,07815,03015,12721,29123,169
Nonoperating income701671614601527407
Bank owned life insurance income701671614601527449
Interest and debt expense(7,245)(4,302)(5,728)(6,818)(4,832)(3,897)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,594)(386)119(4,521)(6,781)(6,308)
Income (loss) from continuing operations before equity method investments, income taxes:8,79812,06110,0354,38910,20513,371
Loss from equity method investments    (839)(767)(625)
Other undisclosed income from continuing operations before income taxes      
Income from continuing operations before income taxes:8,79812,06110,0353,5509,43812,746
Income tax expense (benefit)(480)(1,323)(1,142)250(1,110)(4,330)
Other undisclosed income from continuing operations    839767625
Income from continuing operations:8,31810,7388,8934,6399,0959,041
Income before gain (loss) on sale of properties:10,7388,8934,6399,0959,041
Other undisclosed net income      
Net income:8,31810,7388,8934,6399,0959,041
Net loss attributable to noncontrolling interest   (105)(130)(10)(31)
Other undisclosed net income (loss) attributable to parent  105   
Net income attributable to parent:8,31810,7388,8934,5099,0859,010
Other undisclosed net loss available to common stockholders, basic   (105)(315)(413)(415)
Net income available to common stockholders, basic:8,31810,7388,7884,1948,6728,595
Other undisclosed net loss available to common stockholders, diluted  (196)(263)   
Net income available to common stockholders, diluted:8,31810,5428,5254,1948,6728,595

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:8,31810,7388,8934,6399,0959,041
Other comprehensive income (loss)(34,920)671194671247(273)
Other undisclosed comprehensive loss   (8,982)   
Comprehensive income (loss):(26,602)11,4091055,3109,3428,768
Comprehensive loss, net of tax, attributable to noncontrolling interest   (105)(5,397)(9,258)(8,715)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (2,746)9,08784589(348)
Comprehensive income (loss), net of tax, attributable to parent:(26,602)8,6639,087758173(295)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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