F&M Bank Corp. Announces 3rd Quarter Earnings and Dividend

TIMBERVILLE, VA—October 25, 2018 —F & M Bank Corp. (OTCQX: FMBM), parent company of Farmers & Merchants Bank, announces its financial results for the quarter ending September 30, 2018.

Selected highlights for the quarter and year to date include:

  • Quarterly net income of $2.52 million;
  • Net interest margin of 4.56%, an increase of 8 BPs compared to one year ago;
  • Loans held for investment increased $26.8 million or 4.3% in the last 12 months;
  • Net interest income increased $367 thousand compared to the third quarter 2017;
  • Annualized Return on Average Assets of 1.29% for the third quarter and 1.09% year to date;

Mark Hanna, President and CEO, commented “We are very pleased to announce third quarter earnings of $2.52 million, which is comparable to the same period last year and an increase of $828 thousand versus the second quarter .  Growth in loans held for investment totaled $12.7 million for the third quarter of 2018 and $26.8 million year over year.  Our net interest margin at 4.56% remains strong and continues to be driven by our strong loan to asset ratio.  Non-performing assets increased marginally versus second quarter and we continue to work closely with our borrowers to rehabilitate several larger problem assets.”

Hanna stated, “On October 18, 2018 our Board of Directors declared a third quarter dividend of $.25 per share to common shareholders. Based on our most recent trade price of $34.14 per share this constitutes a 2.93% yield on an annualized basis. The dividend will be paid on November 15, 2018, to shareholders of record as of November 1, 2018.”  Highlights of our financial performance are included below.

F & M Bank Corp. is an independent, locally-owned, financial holding company, offering a full range of financial services, through its subsidiary, Farmers & Merchants Bank’s thirteen banking offices in Rockingham, Shenandoah, Page and Augusta Counties, Virginia. The Bank also provides additional services through a loan production office located in Penn Laird, VA and through its subsidiaries, VBS Mortgage (DBA F&M Mortgage) and VSTitle, both of which are located in Harrisonburg, VA.  Additional information may be found by contacting us on the internet at www.fmbankva.com or by calling (540) 896-8941.

This press release may contain “forward-looking statements” as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in: interest rates, general economic conditions, legislative and regulatory policies, and a variety of other matters. Other risk factors are detailed from time to time in our Securities and Exchange Commission filings. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this press release.

(1) The net interest margin is calculated by dividing tax equivalent net interest income by total average earning assets. Tax equivalent interest income is calculated by grossing up interest income for the amounts that are nontaxable (i.e. municipal securities and loan income) then subtracting interest expense. The tax rate utilized is 34%. The Company’s net interest margin is a common measure used by the financial service industry to determine how profitable earning assets are funded. Because the Company earns nontaxable interest income from municipal loans and securities, net interest income for the ratio is calculated on a tax equivalent basis as described above.

(2) The efficiency ratio is not a measurement under accounting principles generally accepted in the United States. The efficiency ratio is a common measure used by the financial service industry to determine operating efficiency. It is calculated by dividing non-interest expense by the sum of tax equivalent net interest income and non-interest income excluding gains and losses on the investment portfolio. The Company calculates this ratio in order to evaluate how efficiently it utilizes its operating structure to create income. An increase in the ratio from period to period indicates the Company is losing a greater percentage of its income to expenses.

SOURCE: F & M Bank Corp.

CONTACT: Neil Hayslett, EVP/Chief Operating Officer

540-896-8941 or NHayslett@FMBankVA.com

F&M Bank Tops Deposits in Harrisonburg-Rockingham County

For the second year in a row, F&M Bank is proud to claim the top spot in deposit share in the Harrisonburg-Rockingham County market. The Federal Deposit Insurance Corp.’s most recent data show that F&M Bank topped all banks in the metropolitan statistical area (MSA) for deposits held.

As of June 30, 2018, F&M Bank held $440.3 million in deposits for customers in its eight Rockingham branches, or 18.75 percent of the total market. That represented a $23.8 million increase over the previous year.

Mark Hanna, President and CEO, states, “Holding the top spot in the MSA is an extremely important accolade, especially as we engage with shareholders and potential investors. This accomplishment speaks to our bank’s integrity and deep-rooted history in Rockingham County. Our community sees value in supporting a local, financial institution.”

In 2017, F&M Bank unseated large regional and national financial institutions to claim the top spot, and it is quite an accomplishment for a small, community bank to maintain this position. Bank leadership credits success to the institution’s ability to reflect the changing demographics of the community.

The bank broadened its reach to the younger business community by developing a community advisory board to draw candid feedback from active community members and business leaders under 40. Holly Thorne, Marketing Director, states, “The advisory board members are our community, and F&M understands the value they bring to the table. It’s a logical choice and natural fit to engage them in helping to shape our bank’s future.”

Media Contact: Neil Hayslett, EVP/Chief Operating Officer 540-896-8941 or NHayslett@FMBankVA.com

F&M Bank Corp. Second Quarter 2018 Earnings and Dividend Press Release 

F&M Bank Corp. Second Quarter 2018 Earnings and Dividend Press Release 

TIMBERVILLE, VA / ACCESSWIRE / July 25, 2018 / F & M Bank Corp. (OTCQX: FMBM), parent company of Farmers & Merchants Bank, announces its financial results for the second quarter ending June 30, 2018. 

Selected highlights for the quarter include:

  • Net income of $1.69 million;
  • Net interest margin of 4.64% an increase of 13 BPs compared to one year ago;
  • YTD Net interest income increased $1,175,000;
  • Loans held for investment increased $30.7 million, or 5.1%, compared to one year ago;
  • Total deposits increased $32.1 million, or 6.0%, compared to one year ago;
  • Non-Performing Loans to Assets increase to 1.94% due to two large relationships that were placed on non-accrual status.

Mark Hanna, President, commented, “Net income for the second quarter totaled $1.69 million. While this is a $641,000 decrease compared to the second quarter of 2017, our pre-tax core operating earnings increased $709,000 in 2018 to a total of $3.04 million versus $2.33 million in 2017. Core operating earnings excludes the 2018 provision for loan losses. Loans and deposits increased approximately $31 million and $32 million, respectively, in the prior 12 months. This growth continues to drive our net interest margin which rose to 4.64% versus 4.51% when compared to the second quarter of 2017, despite the increase in nonperforming loans.”

Mr. Hanna continued, “Non-performing loans and assets increased significantly versus the prior quarter. All of the increase is related to two large commercial relationships. While we continue to work with these borrowers, we recognized a $1.35 million provision for loan losses in the second quarter to reflect our updated assessment of the value of these assets. This additional provision resulted in the allowance for loan loss balance increasing $1,061,000 as compared to year end 2017.”

Hanna further stated, “During the second quarter we completed the rebranding of VBS Mortgage to F&M Mortgage to more closely align our marketing efforts across the companies. On July 19, 2018 our Board of Directors declared a second quarter dividend of $.25 per share to common shareholders. Based on our most recent trade price of $37.55 per share this constitutes a 2.66% yield on an annualized basis. The dividend will be paid on August 16, 2018, to shareholders of record as of August 2, 2018.”

Highlights of our financial performance are included below.

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

This press release may contain “forward-looking statements” as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in: interest rates, general economic conditions, legislative and regulatory policies, and a variety of other matters. Other risk factors are detailed from time to time in our Securities and Exchange Commission filings. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this press release.

 

1) The net interest margin is calculated by dividing tax equivalent net interest income by total average earning assets. Tax equivalent interest income is calculated by grossing up interest income for the amounts that are nontaxable (i.e. municipal securities and loan income) then subtracting interest expense. The tax rate utilized is 21%. The Company's net interest margin is a common measure used by the financial service industry to determine how profitable earning assets are funded. Because the Company earns nontaxable interest income from municipal loans and securities, net interest income for the ratio is calculated on a tax equivalent basis as described above.

2) The efficiency ratio is not a measurement under accounting principles generally accepted in the United States. The efficiency ratio is a common measure used by the financial service industry to determine operating efficiency. It is calculated by dividing non-interest expense by the sum of tax equivalent net interest income and non-interest income excluding gains and losses on the investment portfolio. The Company calculates this ratio in order to evaluate how efficiently it utilizes its operating structure to create income. An increase in the ratio from period to period indicates the Company is losing a greater percentage of its income to expenses.

 

CONTACT:

Neil Hayslett, EVP/Chief Operating Officer
540-896-8941 or NHayslett@FMBankVA.com

SOURCE: F & M Bank Corp.

OTC Official Press Release: https://www.otcmarkets.com/stock/FMBM/news/F–M-Bank-Corp-Announces-Second-Quarter-Earnings-and-Dividend?id=198958

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F&M President Meets with VA Senator Mark Warner

U.S. Senator Mark Warner recently met with small business owners and community bankers about how his bipartisan bill is working to grow business and the local economy.

Wednesday, March 7, 2018

F&M President Mark Hanna met last week with U.S. Senator Mark Warner regarding the Senate Bill that may bring regulatory relief to small community banks. The Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) ensures that small lenders can provide mortgage and other credit to hardworking Americans, helping them and their families grow and start businesses.

Thanks to F&M President Mark Hanna for representing us in the Shenandoah Valley! See Mr. Hanna in the video below (4:02-4:14): “…community banks are the backbone of our country, and many of our rural markets… I think we serve a vital role to the growth of the economy.”

Video courtesy of Senator Warner’s office

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F&M Bank Tops Deposits

F&M Bank Tops Deposits
After nipping at their heels for six years, a small local bank has unseated large regional and national financial institutions to claim the top spot in deposit share in the Harrisonburg-Rockingham County market. The Federal Deposit Insurance Corp.’s most recent data show that F&M Bank topped all banks in the metropolitan statistical area for deposits held for the first time. F&M is a subsidiary of Timberville-based F&M Corp., the only publicly traded company headquartered in the city or county.

Story by Vic Bradshaw, Daily News-Record

January 22, 2018

HARRISONBURG — After nipping at their heels for six years, a small local bank has unseated large regional and national financial institutions to claim the top spot in deposit share in the Harrisonburg-Rockingham County market.

The Federal Deposit Insurance Corp.’s most recent data show that Farmers & Merchants Bank topped all banks in the metropolitan statistical area for deposits held for the first time. Farmers & Merchants is a subsidiary of Timberville-based F&M Corp., the only publicly traded company headquartered in the city or county.

As of June 30, Farmers & Merchants held $416.5 million in deposits for customers in its seven Rockingham branches, or 18.78 percent of the total market. That represented an $18.67 million increase over the previous year.

Farmers & Merchants has been within 1 percentage point of the top spot every year since 2011. It trailed Wells Fargo Bank, then the market leader, by only 0.02 percent in 2014 and 0.01 percent in 2015.

Dean Withers, F&M’s CEO, said Monday that he wasn’t aware that the bank had reached the top spot in the market, but he considers it an important achievement.

“It’s something we’ve always tried to strive for if for no other reason than we’re competitive, and we’re a smaller community bank taking over from the large regionals,” he said.

“We’ve been the market leader in Rockingham County forever,” added Neil Hayslett, F&M’s executive vice president and chief administrative officer. “Actually overtaking [the large banks] in the entire MSA is important for some of our publicity, especially as we talk to shareholders and investors.”

Big Gainers

BB&T, which jumped to No. 1 in 2016 from No. 3 the previous year, dropped to second last year with $407.4 million held for local customers. The Charlotte, N.C., bank’s total deposits were down $4 million year-over-year, and its market share dipped slightly to 18.37 percent.

Wells Fargo stayed very close to the top, adding $367,000 in deposits in a year to claim the No. 3 position with 17.82 percent of the market.

United Bank remained in the fourth position in the rankings, with Union Bank & Trust rising a spot to make the top five.

The year was a good one locally, with total deposits rising by $64.5 million, or 3 percent, to more than $2.2 billion.

First Bank & Trust posted the greatest increase, with its deposits growing $19 million, or 39.6 percent, to $66.9 million. The rise helped the bank leap two spots to No. 8 in the market rankings.

Other big gainers were Union Bank & Trust — which recorded a $9 million, or 7 percent, rise in deposits held to $137.2 million — and Pendleton Community Bank, which saw its deposits jump by $7.4 million, or 22.6 percent, to $40 million in part because it opened a branch in downtown Harrisonburg.

Climbing To The Top

As for how Farmers & Merchants managed to overtake a major regional bank in BB&T, which has $163 billion in total deposits in all of its branches, and Wells Fargo, which holds more than $1.2 trillion for customers across America, Hayslett said the local bank has been asking customers for referrals for the last three years.

Its growth in the Staunton-Augusta County market and construction of a highly visible branch on Stone Spring Road in Rockingham County also are increasing the bank’s regional profile, he said.

“We like to think that once we have customers that they’re well taken care of,” Withers said. “It’s about customer service. You can advertise all over the place, but word-of-mouth and friends and family referrals is where you gain customers.”

Hayslett noted that each of the bank’s Harrisonburg-Rockingham branches posted deposit growth from 2016 to 2017.

Since the ranking date, F&M has closed its only branch in the city, which was on Port Republic Road in front of the Port Crossing Shopping Center, following the opening of the Stone Spring location.

But that branch and the one at Spotswood Trail (U.S. 33) and Cross Keys Road (Va. 276) are just outside the city, and Withers said they’re drawing money from Harrisonburg residents and businesses.

Farmers & Merchants operates its own secure courier service to pick up deposits from business clients within its footprint, he noted, and it also has automated teller machines in some city Food Lion and Rite-Aid locations and in the East Market Street Target store.

While the Staunton-Augusta market, which F&M entered in recent years, likely will be its main growth area for the near future, Withers said the bank will continue seeking opportunities in Harrisonburg and Rockingham.

“We haven’t really backed off that,” he said. “Obviously, that’s a more mature market for us. We’re going to do all we can to grow in both markets.”

Photo courtesy of Daniel Lin, Daily News-Record

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F&M Bank Corp. Board of Directors Appoints President

F&M Bank Corp. Board of Directors Appoints President
On December 1, 2017, the Board of Directors of F&M Bank Corp. (OTCQX: FMBM) named Mark C. Hanna as the new President of F&M Bank.

PRESS RELEASE: F&M Bank Corp. Board of Directors Appoints President

For Immediate Release

TIMBERVILLE, VA ‐‐ On December 1, 2017, the Board of Directors of F&M Bank Corp. (OTCQX: FMBM) named Mark C. Hanna as the new President of F&M Bank.

“The board and I are delighted to have Mark join our team,” said Ellen Fitzwater, F&M Bank Board Chairman, “we are confident that Mr. Hanna’s well-rounded banking experience will serve our customers, shareholders, and communities well, and we look forward to working alongside him during his transition.”

Mr. Hanna brings over 27 years of banking experience to the position, most recently as Tidewater Regional President for Eastern Virginia Bankshares and as President and Chief Executive Officer of Virginia Company Bank.

On his appointment, Mr. Hanna said, “I am excited and honored to take on this role. I look forward to joining the F&M family while continuing the tradition of investing in our communities and providing a best-in-class experience for our employees, shareholders, and customers.”
Mr. Hanna will be relocating to the F&M Bank market area along with his family and will work alongside current CEO, Dean Withers, and the F&M Bank Board for the next several months.

For more information, or comments from Mrs. Fitzwater, Mr. Withers, or Mr. Hanna, please email marketing@fmbankva.com or call (540) 217-6409.

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 13 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 $750 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.

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F&M Bank Corp. Q1 2017 Financial Earnings

F&M Bank Corp. is pleased to announce that its first quarter earnings rounded out at $2.3 million. This represents an increase of 14.22% over first quarter of 2016. Loan and deposit growth were basically flat for the quarter which reflects typical first quarter results for the Bank. Our net interest margin at 4.39% has been stable over the last several quarters and continues to drive our extraordinary results. Non-performing assets ticked slightly higher compared to year end 2016, but are significantly below first quarter 2016.

F&M Bank Corp. is pleased to announce that its first quarter earnings rounded out at $2.3 million. This represents an increase of 14.22% over first quarter of 2016. Loan and deposit growth were basically flat for the quarter which reflects typical first quarter results for the Bank. Our net interest margin at 4.39% has been stable over the last several quarters and continues to drive our extraordinary results. Non-performing assets ticked slightly higher compared to year end 2016, but are significantly below first quarter 2016.

 

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.

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.

F & M Bank Corp. Announces Record Quarterly and Year to Date Earnings and Dividend Increase

TIMBERVILLE, VA / ACCESSWIRE / October 21, 2016 / F & M Bank Corp. (FMBM), parent company of Farmers & Merchants Bank, announces its financial results for the third quarter and year to date ending September 30, 2016.

Selected highlights for the quarter and year to date include:

  • Net income of $2.6 million and $7.0 million, respectively;
  • Net income per common share increased 14.04% YTD;
  • Net interest margin of 4.33%;
  • Net interest income YTD increased $1.4 million;
  • Loans held for investment increased $34.0 million YTD;
  • Return on Average Assets of 1.43% for the third quarter

Dean Withers, President and CEO, commented, “We are pleased to announce record third quarter and year to date earnings of $2.601 million and $7.049 million. These results represent increases of 18.82% and 13.04% for the respective periods. Loan demand continues to be strong with the growth in loans held for investment totaling $34.0 million year to date. Deposit growth has also accelerated in the last two quarters with the year to date increase now totaling $33.2 million. Our net interest margin at 4.33% has been stable over the last several quarters and continues to drive our extraordinary results.”

Withers continued, “During the third quarter, we opened our twelfth branch in Grottoes, Virginia and began construction on our thirteenth branch in Fishersville, Virginia. These branches will supplement the two branches we opened in 2015 in Staunton and Craigsville to further strengthen the growth of our southern market.” Withers stated, “On October 20, 2016 our Board of Directors declared a third quarter dividend of $.22 per share to common shareholders. This is an increase of $.02 (10%) over the prior quarter and $.03 (15.79%) over the prior year. Based on our most recent trade price of $25.00 per share this constitutes a 3.52% yield on an annualized basis. The dividend will be paid on November 17, 2016, to shareholders of record as of November 3, 2016.” Highlights of our financial performance are included below.

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 www.fmbankva.com or by calling (540) 896-8941.

This press release may contain “forward-looking statements” as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in: interest rates, general economic conditions, legislative and regulatory policies, and a variety of other matters. Other risk factors are detailed from time to time in our Securities and Exchange Commission filings. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this press release.

Read the Key Statistics on Yahoo! Finance http://finance.yahoo.com/news/f-m-bank-corp-announces-130000375.html

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Learn more about FMBM|fa-area-chart|112|Investor Relations|1

F&M Bank to Host Groundbreaking Ceremony for New Branch at Coffman’s Corner

New Location Slated to Open in 2017

TIMBERVILLE, VA—October 3, 2016— F&M Bank, a locally owned independent community bank headquartered in Timberville, VA, is excited to announce it will soon break ground on its 14th location near RMH Sentara Campus in Harrisonburg.

The ground breaking ceremony will take place on Thursday, October 13th from 11:30 am – 12:30 pm at 2030 Legacy Lane in Harrisonburg. Coffman's Corner is an 11-acre mixed-use development that will be comprised of destination retail, medical and professional offices. Coffman's Corner is one of the last remaining prime parcels near the new $300 million Rockingham Memorial Campus (RMH). 

“Coffman's Corner, by Cottonwood Commercial, has road frontage on both Port Republic Road (24,000 AADT) and Southeast Connector Road (projected 31,000 AADT) which connects every commercial corridor in Harrisonburg. This highly visible parcel is located directly across from RMH, which serves over 190,000 outpatients and 16,300 inpatients each year and has more than 2,400 employees. It is directly connected to 8,000+ Student Beds, JMU' s main campus (8,200 employees), and Interstate 81 within 2 miles via Port Republic Road”, according to Cottonwood Commercial’s website.

The Harrisonburg-Rockingham Chamber of Commerce, public officials, and F&M Bank staff and board members will be in attendance and available for comment. The public is invited to attend the event and stay for a light lunch.

F&M Bank currently operates bank branches in Harrisonburg, Staunton, the counties of Rockingham, Page, Shenandoah, and Augusta; an automotive dealer finance division in Harrisonburg; VBS Mortgage in Harrisonburg; and a loan production office in Fishersville. F&M Bank also recently broke ground on a branch in Augusta County, located at Myers Corner on Route 250 in Fishersville. The much anticipated Coffman’s Corner branch is slated to open in 2017 and will provide its customers a unique branch setting along with a multi-use facility for meetings and events.

For additional information about F&M Bank or the groundbreaking ceremony, contact Holly Thorne, 540-896-1743, or email marketing@fmbankva.com.

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. Farmers & Merchants Bank has grown to over $700 million in assets — celebrating its most successful year in history in 2015 — 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.

Coffman’s Corner by Cottonwood Commercial: http://www.coffmanscorner.com

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