Press Release: F&M Bank Corp. Board Chairman Retires, Chairwoman Elected

Ellen Fitzwater Elected as Chair of the Board

Effective December 31, 2016, Thomas L. Cline will retire as Chairman of the Board of Directors of F & M Bank Corp. after 25 years of service.  The Board of Directors of F&M Bank Corp. appointed Ellen R. Fitzwater as the new Board Chair.  Ms. Fitzwater has served as a director of the Company for the past 17 years.

About F&M Bank Corp.
F & M Bank Corp. operates as the holding company for F&M Bank, which provides commercial banking and financial services to individuals and businesses in Virginia. The company’s deposit products include interest bearing and noninterest bearing demand, savings, and time deposits, as well as money market accounts. It also offers residential mortgage and construction loans; consumer installment loans; commercial loans, such as agricultural loans; and credit card loans. The company also provides title insurance, brokerage services, and property/casualty insurance to its banking customers. F & M Bank Corp., through its other subsidiary, TEB Life Insurance Company, reinsures credit life, and accident and health insurance. F&M Bank operates locations in Rockingham County, Shenandoah County, Page County, Augusta County, and the Cities of Harrisonburg and Staunton, Virginia. The company was founded in 1908, is headquartered in Timberville, and is the only publicly traded corporation based in Rockingham County, VA.

About F&M Bank
F&M Bank serves the Shenandoah Valley with 12 full-service branches, a network of ATMs, and a wide variety of financial services. Both individuals and businesses find the organization’s local decision-making, and up-to-date technology provide the kind of responsive, knowledgeable, and reliable service that only a progressive community bank can. F&M Bank has grown to over $700 million in assets and boasts over 160 full and part-time employees. Its conservative approach to finances and sound investments, along with excellent customer service, has made F&M Bank profitable and continues to pave the way for a bright future.


6 Ways to Save More Money in the New Year

Even if saving has never been your thing and money is tight, the coming of a new year is an opportunity to change old financial habits. Here are some ways to become a more efficient saver.

1. Budget

Budgeting helps you organize your finances so you have money left over to save each month. It may seem laborious, but budgeting doesn’t have to be hard. Mobile apps cut a lot of the work and can help you track spending throughout the month.

2. Pay yourself first

Firmly commit to making a savings deposit monthly, even if you can only afford a small amount. Do this before paying your other bills.

3. Automate

If you’re not confident your resolution will stick or you want to simplify the process, automate your savings deposits. That way, a portion of your paycheck will automatically go to your savings account, or an amount you choose will be transferred from your checking to savings account each month. You won’t miss money that was never in your hands in the first place.

4. Make your money work harder

Compound interest is the interest paid on the interest your money earns in an account, and it allows your principal balance to grow faster. To fully benefit from compound interest, consider opening a high-yield savings account or a certificate of deposit that offers higher rates than the average savings account.

5. Plug up cash drains

It’s not always the big expenses that sabotage saving efforts; small expenses can add up and be a huge cash drain. To rein in spending and increase your cash surplus:

-Shop around for the lowest possible rates on utilities, insurance, TV, internet and mobile plans. Also, make sure you get discounts you may be entitled to.
-Check bank account statements for less obvious fees such as those for account maintenance, ATM use or having a low balance. If your accounts come with several fees, it may be time to find a financial institution that    costs less.
-Monitor daily spending and cut back on extras like lunches out, donut runs or fancy coffee.
-Explore free and low-cost entertainment options, including parks, beaches and hiking trails, as well as local concerts, theater and sporting events.

6. Bring in extra bucks

When trimming expenses doesn’t do the trick, the only way to create enough free cash for saving is to increase what’s coming in. You can:

-Sell unwanted items online or at a yard sale.
-Cash in credit or debit card reward points.
-Ask for a raise or for extra hours at work.
-Take on an additional part-time job or turn your hobbies or skills into dollars through tutoring, yard maintenance, dog walking, writing, crafting, musical performance or handyman work.

The benefits of saving kick in very quickly and only get better with time. A solid cushion in the bank protects you during emergencies and provides the means to travel, buy a home, get an advanced degree, or pursue whatever other dreams you may have.

© Copyright 2016 NerdWallet, Inc. All Rights Reserved


How to Avoid the Busy Holiday Scamming Season

You're not the only one joyfully anticipating the holiday season. Cyber criminals are all aflutter, too, as they look forward to the killing they'll make ripping off innocent shoppers like you. Here are some of the most common ways these thieves operate, because awareness can help you avoid becoming yet another victim.

Antisocial media

Beware those enticing ads that turn up on Facebook and other social media sites offering vouchers, gift cards and deep discounts, as well as the online surveys these ads often link to. These offers are often only empty promises designed to steal your personal information.

Additionally, if you receive concert, theater or sporting event tickets as a gift, never post pictures of them online. Cyber thieves spend lots of time monitoring social media, just waiting for the opportunity to create phony tickets they can resell from your barcode image. If your ticket is resold, you might just find yourself out of a seat on the night of your event. It's also unwise to post live from an event that gives criminals a heads-up that your home is empty and ripe for picking. Better to wait until the next day to post about the wonderful time you had.

Pandora's inbox

It may be a mystery to you how cyber thieves got your private email address, but it's chillingly clear they're up to no good. Your inbox may fill up with all kinds of legitimate-looking product offers and delivery notices this holiday season, but clicking on links of bogus ones or entering personal information on the linked sites can provide criminals with the opportunity to steal your identity.

Apps are far from immune

With mobile apps available for just about everything, it's a sad sign of the times that certain free mobile apps (often disguised as games) have been specifically designed to steal personal information from your phone. This is a particularly scary development since many people use their phones to secure their cars and homes. For this reason, only install apps from familiar companies and, at the very least, find a third-party review from a trusted site if you're interested in an app from an unfamiliar source.

USB Trojan horses

Lots of people use portable USB drives, which makes it all the more important to avoid those being distributed as giveaways this holiday season unless they're from a trusted source. These innocent-looking devices are often used as a method of introducing malware to computers.

Gifts that keep on giving … to criminals

A spirit of generosity is traditional at holiday time, but if you're not careful, your donations may never make it to the needy. Fake charities that skillfully tug at your heartstrings abound at this time of year, just waiting for you to willingly give your hard-earned cash to scammers. Before donating, be sure to check out charities thoroughly, to make sure that they're not only legitimate, but also that they allocate the bulk of funds toward their causes rather than “administrative costs.”

Tips to avoid holiday scams

These strategies will also help keep you a step ahead of scammers:

-Only shop online with reputable businesses you trust, using secure websites with an address that begins with https.
-Don't shop or bank over public Wi-Fi.
Protect your credit card privacy by covering your account number with your hand when shopping in public.
-Don't respond to suspicious unsolicited calls or emails. Only open email attachments from senders you trust, and contact businesses only through their official websites, phone numbers or email addresses.
Monitor your credit to catch fraud at its earliest stages.

Scammers may be smart, but you can still outsmart them. A little foreknowledge and caution go a long way toward ensuring you'll enjoy a safe and memorable holiday season.

© Copyright 2016 NerdWallet, Inc. All Rights Reserved

F&M Bank Christmas Party Employee Awards and Recognition

On Saturday, December 3rd, 2016, F&M Bank held its annual Christmas Party, and several employees were honored for their years of service and dedication to F&M Bank.

50 Years of Service-1966

Sylvia Bowman

Pictured: Dean Withers and Sylvia Bowman

30 Years of Service-1986

Debbie Andes and Jean Coffman

Pictured: Debbie Andes and Dean Withers

25 Years of Service-1991

Ronnie Wampler (Board of Directors), Tom Cline (Board of Directors), and Sharon Lantz

Pictured: Dean Withers, Ronnie Wampler and Tom Cline

20 Years of Service-1996

Neil Hayslett

15 Years of Service-2001

Carrie Comer, Christy Trail, John Crist (Board of Directors), Dan Harshman (Board of Directors), Berlin Smith, and Alice Yates

Pictured: Dean Withers, Carrie Comer and Christy Trail

10 Years of Service-2006

Cindy Ramey, Yvette McCoy, Tom Campbell, Barabara Bartley, LJ Purcell, Eddie Reid, Ashley Riggelman, Natalie Strickler, and Vickie Young.

Pictured: Cindy Ramey, Yvette McCoy, Tom Campbell, Barbara Bartley and Dean Withers

5 Years of Service-2011

Pattie Schimmel, Melody Emswiler, Emily Rhodes, Ashley McClure, Ashley Griffith, and Tonya Branner.

Pictured: Pattie Schimmel, Dean Withers, Melody Emswiler, Emily Rhodes, Ashley McClure and Ashley Griffith

Holiday Events at F&M Bank

Join us for our holiday customer appreciation events this December!


F&M Bank Elkton
127 W Rockingham Street | 540-298-1251
Thursday, December 15; 3-5 PM; refreshments served in branch all day long!
Santa’s elves are bringing the North Pole to Elkton! Enjoy refreshments and games, take pictures in our photo booth, meet two of Santa’s elves, and pen your letter to Santa!


F&M Bank Craigsville
125 W Craig Street | 540-997-4162
Saturday, December 17; 2-4 PM
Join us for our anniversary celebration and customer appreciation event! We have proudly been serving the Craigsville community for one year. Enjoy refreshments, pictures with Santa, activities, door prizes, giveaways, and more!


Fraud Alert – November 10, 2016

FRAUD ALERT – Our fraud detection system notified F&M Bank of what appears to be a debit card fraud event occurring in the State of California this evening.

As a precautionary measure, F&M has placed an auto restriction that requires the use of a PIN for transactions greater than $75 at merchants such as grocery stores and discount stores in the state of California.

To safeguard your accounts and your identity, learn more about F&M Bank’s Identity Theft Protection Services.


Proud Supporters of the 2016 Salvation Army Kettle Drive Kickoff

On Thursday, November 3, 2016 F&M Bank proudly assisted The Salvation Army Harrisonburg Corps with its 2016 Kettle Drive Kickoff at Red Front Supermarket in Harrisonburg.

In 2015, services provided Thanksgiving food boxes to 1,953 individuals, helped 1,483 children at Christmas and delivered food to 726 families for the holiday. A different service is provided on average every 16.5 minutes.

The Red Kettle Goal for 2016 is $170,000. F&M contributes annually to support the local families in our area. What is your #RedKettleReason?

Major Hank Harwell of the Salvation Army and F&M Bank EVP Neil Hayslett


Best Ways to Save at Thanksgiving

Thanksgiving is a time to gather with loved ones for a satisfying meal and kick off the holiday season. If you pay current prices for your menu items, though, you could blow a chunk of your holiday budget before you even get to the pumpkin pie. Use these tips to keep your Thanksgiving festive and thrifty.

Get a free turkey

The turkey, which cost an average of about $23 in 2015, is easily the most expensive item on a traditional Thanksgiving table — but you can often get one for free. Many supermarkets offer them as loyalty rewards, and even allow shoppers to select the turkey.

If your local supermarket doesn't participate in this type of rewards program, opt for a frozen bird. It can be significantly cheaper, and odds are your guests won't know the difference.

Choose reusable dinnerware

Disposable cutlery, tablecloths and dinnerware simplify holiday cleanup, but the costs really add up, especially if you spring for higher end items. Save money, reduce waste and create a warm, elegant atmosphere by using cloth napkins and tablecloths as well as real flatware, glassware and dishes.

Make your own sides with store brands

Purchasing prepared gravy, stuffing, cranberry sauce and desserts is convenient, but it's also an  unnecessary expense. Making your own sides, condiments and desserts is cheaper and often a lot tastier, too.

When cooking for a large Thanksgiving crowd, avoid brand name ingredients. You should be able to find substitutes that keep costs down without sacrificing flavor.

Simplify the menu

It's tempting to get ambitious and create a Thanksgiving menu with more courses than your guests could possibly eat in a sitting. But to prevent spending your whole holiday budget on the Thanksgiving meal, skip the saffron, truffles and endless appetizers. Instead, plan a simple menu with a few hearty sides and stick with seasonal produce, such as apples, sweet potatoes, pumpkins and Brussels sprouts. These will be much more reasonably priced than imported fruits and vegetables.

Make smart Black Friday shopping decisions

Thanksgiving has also become a time to start shopping for the ensuing holidays. But Black Friday, Cyber Monday and other Thanksgiving weekend sales tend to inspire a shopping frenzy that doesn't always result in the wisest choices. To keep your cool:

    • Make a list — and a budget — to head off impulse buys.
    • Compare prices online before making purchases.
    • Avoid opening multiple store credit cards at once. This can lower your credit scores and make it easier to overspend.
    • Hold off on buying toys, which tend to be cheaper during December's first two weeks.

Making smarter Thanksgiving spending choices keeps dinner and shopping costs under control without putting a damper on family fun. And when the weekend is over, you'll still have enough cash to make your winter holidays sparkle.

Roberta Pescow, NerdWallet


© Copyright 2016 NerdWallet, Inc. All Rights Reserved

How Much 20-Somethings Should Save

Your 20s may seem like an odd time to think of retirement, but it’s actually the perfect moment to start planning for your later years. That’s because the earlier you start saving, the more time your money has to grow.

Savers who begin setting aside 10% of their earnings at 25, for example, could amass significantly more by retirement age than those who wait just five years to start saving. You can use online calculators to see how much starting saving now can produce once you reach retirement.

Building a nest egg on a starter salary and a shoestring budget can seem daunting, though. Focusing on the incremental savings, rather than the goal, can help your savings objectives feel more manageable.

How Much to Save for Retirement

For those earning around $25,000 a year, the median income for 20 to 24 year olds in 2015, saving the recommended sum of 10% amounts to a little more than $200 a month.

It may seem like a reach, but consider this: If you start saving $100 a month at age 25 and invest it to return 7.7% a year — the average total return of the Standard & Poor’s 500 Index of U.S. stocks over the past decade — you’ll have more than $378,000 available at retirement age. And it could be tax-free.

If you wait until you’re 30 to start and save the same monthly amount at the same rate of return, you’ll wind up with less than $253,000.

Several vehicles can help you build a retirement fund. A 401(k) contributory plan, typically offered by your employer, is often the most convenient and easily accessible of these. Contributions you make usually aren’t taxed, which helps reduce your income tax liability.

  • Pre-tax 401(k) accounts make up around 80% of retirement plans offered by employers, according to the American Benefits Council. Roth 401(k) accounts are another option, though these are less widely available, and money contributed to a Roth 401(k) account goes in after it’s taxed. Money withdrawn from this type of account — including earnings — is usually tax-free.
  • Companies that offer a 401(k) plan often match employee contributions, up to a certain percentage. This is essentially free money toward your retirement.
  • If your employer will match your contributions, try to take full advantage and commit a large enough percentage to get the full benefit.
  • Beyond a 401(k), individual retirement accounts, commonly referred to as IRAs, offer another solid option. There are two types: traditional and Roth.
  • Money put into a traditional account is tax-deferred, similar to funds put in a traditional 401(k) plan. That means those funds aren’t taxed until they’re taken out. But typically any earnings you make with the money are also subject to income taxes on withdrawal.
  • Money put into a Roth IRA has already been taxed when you earn it, so there’s no immediate tax benefit. When it’s time to withdraw the cash, however, you usually don’t pay taxes on it. And anything the money earns also can be taken out tax-free.
  • Contributions to both types of IRAs are currently capped at $5,500 a year for those under age 50, and $6,500 for older workers.

How Much to Save for Emergencies

In addition to retirement, it’s also wise to save for a rainy day. Ideally, your emergency fund should be enough to cover three to six months of living expenses.

Some experts suggest setting aside even more for savings and investments: 20%. That’s roughly $415 a month on an annual income of $25,000.

That’s not always feasible, especially if a big chunk of your monthly income goes to student loan and credit card payments. Consider saving what you can, even if it’s just $10 a month.

Making a habit of saving now could serve you well down the road. And, as your income increases, the percentage you save can as well.

© Copyright 2016 NerdWallet, Inc. All Rights Reserved

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F & M Bank Corp. to Present at 2016 Microcap Conference

TIMBERVILLE, VA—October 24, 2016—F & M Bank Corp. (FMBM), parent company of Farmers & Merchants Bank, will present at the 2016 Microcap Conference in Philadelphia tomorrow, October 25, 2016. Neil Hayslett, Executive Vice President and Chief Administrative Officer, will lead the discussion on behalf of F & M Bank Corp.

The MicroCap Conference is an exclusive event for investors who specialize in small stocks. It provides an opportunity to be introduced to and speak with management at some of the most attractive small companies, to learn from various expert panels, and to mingle with buyside analysts and other micro-cap investors.

If interested in learning more about F & M Bank Corp., the only publicly traded organization based in Rockingham County, the conference will be available via webcast. The presentation will begin at 12 PM on October 25, 2016. Please, click here to register!

About F & M Bank Corp.
F&M Bank Corp. is an independent, locally-owned, community bank holding company, offering a full range of financial services, through its subsidiary, Farmers & Merchants Bank's twelve banking offices in Rockingham, Shenandoah, Page and Augusta Counties, Virginia. The Bank also provides additional services through two loan production offices located in Penn Laird, VA and Fishersville, VA and through its subsidiary, VBS Mortgage located in Harrisonburg, VA. Additional information may be found by contacting us on the internet at or by calling (540) 896-8941.