F&M Bank Corp. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Announces Net Charge-Offs for the Fourth Quarter of 2016
For the year, the company's net income was $9.6 million compared with $8.4 million a year ago. Net income available to common was $9.1 million or $2.77 per share compared with $7.9 million or $2.40 per share a year ago. Return on average assets was 1.34% compared with 1.31% a year ago. Return on average equity was 11.18% compared with 10.46% a year ago. Net interest income was $28.5 million compared with $26.5 million a year ago. Income before income taxes was $12.9 million compared with $11.5 million a year ago.
The company announced net charge-offs of $28,000 for the fourth quarter ended December 31, 2016.