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)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 23,717 | 34,953 | 492,128 | 185,432 | 75,804 | 10,912 | |||
| Cash and cash equivalents | 23,717 | 34,953 | 88,121 | 78,408 | 75,804 | 10,912 | |||
| Short-term investments | 404,007 | 107,024 | |||||||
| Receivables | 5,034 | 3,995 | 665,538 | 2,727 | 603,425 | 638,799 | |||
| Deferred tax assets | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,209 | ||
| Total current assets: | 28,751 | 38,948 | 1,157,666 | 188,159 | 679,229 | 650,920 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 912 | ✕ | |||||||
| Property, plant and equipment | 23,635 | 19,587 | 17,063 | 17,909 | 18,931 | 17,766 | |||
| Long-term investments and receivables | 793,440 | 720,806 | 3,997 | 639,472 | |||||
| Long-term investments | 793,440 | 720,806 | 3,997 | 639,472 | |||||
| Intangible assets, net (including goodwill) | 3,082 | 3,082 | 3,082 | 13,556 | 2,884 | 2,884 | |||
| Goodwill | 3,082 | 3,082 | 3,082 | 2,884 | 2,884 | 2,884 | |||
| Intangible assets, net (excluding goodwill) | 10,672 | ||||||||
| Total noncurrent assets: | 820,157 | 743,475 | 24,142 | 670,937 | 22,727 | 20,650 | |||
| Other undisclosed assets | 445,688 | 463,479 | 37,534 | 107,834 | 112,043 | 108,683 | |||
| TOTAL ASSETS: | 1,294,596 | 1,245,902 | 1,219,342 | 966,930 | 813,999 | 780,253 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 3,600 | 3,400 | 4,419 | ||||||
| Interest and dividends payable | ✕ | ✕ | ✕ | 491 | |||||
| Accrued liabilities | 3,600 | 3,400 | 3,928 | ||||||
| Debt | 60,000 | 160,000 | 50 | 30 | 10,000 | 40,116 | |||
| Other liabilities | |||||||||
| Total current liabilities: | 63,600 | 163,400 | 4,469 | 30 | 10,000 | 40,116 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 6,932 | 6,890 | 21,772 | 33,202 | 53,201 | 40,218 | |||
| Long-term debt, excluding current maturities | 6,932 | 6,890 | 21,772 | 33,202 | 53,201 | 40,218 | |||
| Liabilities, other than long-term debt | 1,092,322 | ||||||||
| Lease deposit liability | 1,092,322 | ✕ | |||||||
| Total noncurrent liabilities: | 6,932 | 6,890 | 1,114,094 | 33,202 | 53,201 | 40,218 | |||
| Other undisclosed liabilities | 1,145,741 | 1,004,820 | 323 | 838,069 | 659,223 | 608,008 | |||
| Total liabilities: | 1,216,273 | 1,175,110 | 1,118,886 | 871,301 | 722,424 | 688,342 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 78,323 | 70,792 | 100,456 | 95,629 | 91,575 | 91,911 | |||
| Preferred stock | 4,558 | 4,592 | 5,672 | ||||||
| Common stock | 17,263 | 17,149 | 17,071 | 16,017 | 16,042 | 16,066 | |||
| Additional paid in capital | 11,043 | 10,577 | 10,127 | 6,866 | 7,510 | 7,987 | |||
| Accumulated other comprehensive loss | (31,017) | (40,012) | (5,092) | (3,017) | (3,211) | (3,969) | |||
| Retained earnings | 81,034 | 83,078 | 78,350 | 71,205 | 66,008 | 65,596 | |||
| Other undisclosed equity, attributable to parent | 634 | 559 | |||||||
| Total equity: | 78,323 | 70,792 | 100,456 | 95,629 | 91,575 | 91,911 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,294,596 | 1,245,902 | 1,219,342 | 966,930 | 813,999 | 780,253 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 49,518 | 35,456 | 33,429 | 35,059 | 46,182 | 42,996 | ||
| Net investment income | 48,639 | 34,458 | 32,516 | 34,462 | 37,715 | 36,249 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (3,300) | (7,405) | (2,930) | |||||
| Other undisclosed gross profit | ||||||||
| Gross profit: | 49,518 | 35,456 | 33,429 | 31,759 | 38,777 | 40,066 | ||
| Operating expenses | (22,949) | (18,520) | (17,351) | (16,729) | (23,650) | (18,775) | ||
| Operating income: | 26,569 | 16,936 | 16,078 | 15,030 | 15,127 | 21,291 | ||
| Nonoperating income | 1,160 | 701 | 671 | 614 | 601 | 527 | ||
| Investment income, nonoperating | ||||||||
| Bank owned life insurance income | 1,160 | 701 | 671 | 614 | 601 | 527 | ||
| Interest and debt expense | (24,665) | (7,245) | (4,302) | (5,728) | (6,818) | (4,832) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (1,594) | (386) | 119 | (4,521) | (6,781) | |||
| Income from continuing operations before equity method investments, income taxes: | 3,064 | 8,798 | 12,061 | 10,035 | 4,389 | 10,205 | ||
| Loss from equity method investments | (839) | (767) | ||||||
| Other undisclosed loss from continuing operations before income taxes | (1,039) | |||||||
| Income from continuing operations before income taxes: | 2,025 | 8,798 | 12,061 | 10,035 | 3,550 | 9,438 | ||
| Income tax expense (benefit) | 746 | (480) | (1,323) | (1,142) | 250 | (1,110) | ||
| Other undisclosed income from continuing operations | 839 | 767 | ||||||
| Income from continuing operations: | 2,771 | 8,318 | 10,738 | 8,893 | 4,639 | 9,095 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 10,738 | 8,893 | 4,639 | 9,095 | |
| Other undisclosed net income | ||||||||
| Net income: | 2,771 | 8,318 | 10,738 | 8,893 | 4,639 | 9,095 | ||
| Net loss attributable to noncontrolling interest | (105) | (130) | (10) | |||||
| Other undisclosed net income (loss) attributable to parent | 105 | |||||||
| Net income attributable to parent: | 2,771 | 8,318 | 10,738 | 8,893 | 4,509 | 9,085 | ||
| Other undisclosed net loss available to common stockholders, basic | (105) | (315) | (413) | |||||
| Net income available to common stockholders, basic: | 2,771 | 8,318 | 10,738 | 8,788 | 4,194 | 8,672 | ||
| Other undisclosed net loss available to common stockholders, diluted | (196) | (263) | ||||||
| Net income available to common stockholders, diluted: | 2,771 | 8,318 | 10,542 | 8,525 | 4,194 | 8,672 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 2,771 | 8,318 | 10,738 | 8,893 | 4,639 | 9,095 | ||
| Other comprehensive income (loss) | (8,592) | (34,920) | 671 | 194 | 671 | 247 | ||
| Other undisclosed comprehensive loss | (8,982) | |||||||
| Comprehensive income (loss): | (5,821) | (26,602) | 11,409 | 105 | 5,310 | 9,342 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (105) | (5,397) | (9,258) | |||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (2,746) | 9,087 | 845 | 89 | ||||
| Comprehensive income (loss), net of tax, attributable to parent: | (5,821) | (26,602) | 8,663 | 9,087 | 758 | 173 | ||
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.