Thu, May 15, 3:02 PM (59 days ago)
**F&M Bank Corp. (FMBC) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** Total revenue for Q1 2025 was $16.3 million, up from $15.6 million in Q1 2024. - **Profit Margins:** Net income increased to $2.5 million (70 cents per share) from $1.2 million (35 cents per share) in the prior year, driven by lower interest expense and a recovery of provision for credit losses. - **Cash Flow:** Net cash provided by operating activities was $5.5 million, up from $2.9 million in Q1 2024. - **Earnings Changes:** Net interest income increased by $1.3 million due to higher interest rates and lower interest expense. **Quarterly Performance Discussion:** - **Net Interest Income:** Increased by $1.3 million to $9.4 million, with a net interest margin of 3.15%, up 45 basis points. - **Non-interest Income:** Increased by $513,000 to $2.8 million, driven by mortgage banking, wealth management, and title insurance income. - **Non-interest Expense:** Increased by $1.1 million to $9.5 million, primarily due to higher salaries, employee benefits, and data processing expenses. **Trends & Uncertainties:** - **Loan Portfolio:** Total loans decreased by $12.9 million to $827.0 million, with a well-diversified portfolio. - **Deposit Growth:** Total deposits grew by $4.9 million to $1.2 billion, with noninterest-bearing deposits increasing by $11.1 million. - **Liquidity:** Liquid assets totaled $106.2 million (8.1% of total assets), with additional liquidity sources available. - **Market Risk:** The company manages interest rate risk through simulation analysis and gap analysis. **Future Operations Impact:** - **Economic Outlook:** The economic forecast shows improvement in GDP, positively impacting credit quality. - **Regulatory Capital:** The bank remains "well capitalized" under regulatory frameworks. - **Strategic Initiatives:** The company continues to monitor market conditions and adjust strategies to maintain liquidity and manage risks. **Ticker:** FMBC