F&M Bank Corp. Files 8-K
Ticker: FMBM · Form: 8-K · Filed: May 10, 2024 · CIK: 740806
| Field | Detail |
|---|---|
| Company | F&M Bank Corp (FMBM) |
| Form Type | 8-K |
| Filed Date | May 10, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $547,345, $577,305 |
| Sentiment | neutral |
Sentiment: neutral
Topics: regulatory-filing, 8-k
TL;DR
F&M Bank Corp. filed an 8-K, but it's light on details.
AI Summary
F&M Bank Corp. filed an 8-K on May 10, 2024, reporting an event under 'Other Events'. The filing does not contain specific details about the event, dollar amounts, or significant changes, but confirms the company's reporting status.
Why It Matters
This filing indicates F&M Bank Corp. has made a regulatory submission, but lacks specific details for investors to assess its immediate impact.
Risk Assessment
Risk Level: low — The filing is a standard procedural report with no disclosed negative events or significant financial changes.
Key Players & Entities
- F&M Bank Corp. (company) — Registrant
- May 10, 2024 (date) — Date of earliest event reported
- Virginia (state) — State of incorporation
FAQ
What specific event is F&M Bank Corp. reporting under 'Other Events'?
The provided filing excerpt does not specify the nature of the 'Other Events' being reported.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 10, 2024.
What is the principal executive office address for F&M Bank Corp.?
The principal executive office address is P.O. Box 1111, Timberville, Virginia 22853.
What is the SIC code for F&M Bank Corp.?
The Standard Industrial Classification (SIC) code is 6022 for State Commercial Banks.
Is F&M Bank Corp. incorporated in Virginia?
Yes, F&M Bank Corp. is incorporated in Virginia.
Filing Stats: 470 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-05-10 11:40:02
Key Financial Figures
- $547,345 — esult, the Company recognized a gain of $547,345 in the second quarter of 2024. On May 8
- $577,305 — May 8, 2024, the gain was increased to $577,305 due to an additional lump sum distribut
Filing Documents
- fmbm_8k.htm (8-K) — 19KB
- 0001654954-24-005940.txt ( ) — 126KB
- fmbm-20240510.xsd (EX-101.SCH) — 6KB
- fmbm-20240510_lab.xml (EX-101.LAB) — 12KB
- fmbm-20240510_cal.xml (EX-101.CAL) — 1KB
- fmbm-20240510_pre.xml (EX-101.PRE) — 8KB
- fmbm-20240510_def.xml (EX-101.DEF) — 2KB
- fmbm_8k_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On April 25, 2024, the Company was notified that settlement accounting was triggered on its defined benefit pension plan. Under Financial Accounting Standards Board Accounting Standards Codification 715, settlement accounting is triggered when the lump sum payments during the year exceed the sum of the plan's service cost and interest cost. The impact of settlement accounting is that a percentage of any outstanding gains or losses the plan is currently amortizing must be recognized immediately. As a result, the Company recognized a gain of $547,345 in the second quarter of 2024. On May 8, 2024, the gain was increased to $577,305 due to an additional lump sum distribution. The Company intends to terminate the pension plan on June 1, 2024. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. F & M Bank Corp. By: /s/ Lisa F. Campbell Lisa F. Campbell Executive Vice President and Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) Date: May 10, 2024 3