F&M Bank

What F&M Bank does

F&M Bank (legal name Farmers & Merchants Bank) is a community bank headquartered in Timberville, Virginia, that has served the Shenandoah Valley since 1908. The bank operates 16+ branch locations across the region (including Woodstock, Bridgewater, Broadway, Edinburg, Elkton, Harrisonburg, Staunton, Stuarts Draft, Waynesboro, and Winchester) and delivers retail, business, agricultural, and mortgage banking through personal checking and savings accounts, consumer and auto loans, credit cards, commercial real estate financing, agricultural lending (cattle, dairy, poultry farms), and merchant services. Its mortgage division, F&M Mortgage, originates purchase, construction, refinance, home equity, and investment property loans, including VHDA, FHA, VA, and USDA programs, supported by an in-house processing and underwriting function.

The technology stack centers on a digital banking platform with an online portal (accounts.fmbankva.com), the F&M Mobile app (iOS/Android with biometric login and mobile deposit), and the HomeHub mortgage application. Security is built around SSL encryption, multi-factor authentication, and PCI DSS compliance. Subsidiaries include F&M Mortgage, VS Title, and F&M Financial Services, and the bank maintains a partnership with Celero Commerce for merchant card processing with QuickBooks integration.

F&M Bank generates revenue primarily from net interest spread on loans and deposits, supplemented by transaction fees (overdraft, stop payment, wire transfers, safe deposit box rentals, ATM fees for non-customers) and service charges (cashier's checks, notary, check cashing). Most recent reported figures are revenue of $78.92 million and net income of $11.23 million. The bank trades publicly over-the-counter under ticker FMBM and is a member of the ABA and ICBA, with FDIC insurance and Equal Housing Lender designation.

Name

F&M Bank

Legal name

Farmers & Merchants Bank

Website

https://fmbankva.com

Company type

Public

Founded year

1908

Operating status

Operating

Headcount range

101–250 employees

Short description

F&M Bank is a community bank headquartered in Timberville, Virginia, serving the Shenandoah Valley since 1908 with personal, business, agricultural, and mortgage banking across 16+ branches, supported by online, mobile, and merchant services platforms.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

State Commercial Banks (6022), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Agricultural & Rural Development Banks (FSABAKAE)

akta.pro secondary industries

Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI), Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH)

Keywords

• Retail banking services
• Agricultural lending
• Community banking
• Mortgage lending
• Merchant services

Headquarters

HQ city

Timberville

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Traditional banking interest income from lending activities including agricultural loans, commercial real estate loans, personal loans, and mortgages. The bank generates revenue from the spread between interest earned on loans and interest paid on deposits.
2. Fee Income: Various banking fees including overdraft fees ($35), returned deposit charges ($7), stop payment fees ($35), paper statement fees ($2), safe deposit box rentals ($30-$75 annually), wire transfer fees ($15-$50), ATM fees for non-customers ($4), and various service fees.
3. Service Charges: Charges for services such as cashier's checks ($10 for customers), check cashing for non-customers ($7), notary services ($5 for non-customers), and foreign currency orders ($25-$45).
4. Merchant Services: Debit and credit card processing services for business customers through Celero Commerce partnership. Revenue generated from payment processing transactions.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

F&M Bank provides retail and commercial banking, agricultural financing, and mortgage lending services to consumers, small-to-mid-sized businesses, and farmers in Virginia's Shenandoah Valley through a network of 16+ branches and digital channels. Core products include personal checking and savings accounts, consumer and business loans, agricultural financing (cattle, dairy, poultry, and farmland), merchant card processing, and home mortgage loans through the F&M Mortgage division.

Product overview

F&M Bank is a regional community bank headquartered in Timberville, Virginia, serving the Shenandoah Valley since 1908. The bank's product portfolio is organized around three core pillars: Personal/Business Banking (checking, savings, loans, merchant services), Agricultural Banking (specialized financing for cattle, dairy, poultry, and farmland), and F&M Mortgage (home lending through its mortgage division). Digital banking is delivered via Online Banking and F&M Mobile (with biometric login), while the HomeHub app supports the mortgage process. The bank also offers specialized products like Home Equity Lines, Construction Loans, Investment Property Loans, and Merchant Services with QuickBooks integration. F&M Mortgage serves as a sub-brand offering various loan programs including VHDA, FHA, VA, and USDA mortgages.

Differentiator

Problem solved

Functional benefit

Brands

• F&M Mortgage: A division of F&M Bank specializing in mortgage lending and home loan services including purchase loans, construction loans, refinancing, home equity lines, and investment property loans.
• HomeHub

Products and services

• Personal Checking Personal checking account products including Basic Checking, Cash Back Checking, and Cash Back Plus, with debit card access and digital banking tools for individual consumers.
• Personal Savings Savings account products including Premium Savings, Money Markets, and CDs offered to personal customers with competitive deposit rates.
• Personal Loans Personal lending products including Auto Loans, Credit Cards, and unsecured Personal Loans for various consumer borrowing needs.
• Online Banking Secure web-based banking portal enabling customers to view account details, transfer funds, pay bills, view transaction history, freeze debit cards, open checking accounts, and chat with bank representatives.
• Mobile Banking (F&M Mobile) Mobile banking application available on Apple App Store and Google Play Store that allows customers to view transaction history, freeze debit cards, transfer funds, submit check-imaged mobile deposits, open new accounts, chat with bank representatives, and authenticate using facial or fingerprint recognition on iOS and Android.
• Agricultural Financing Specialized agricultural lending services including Agriculture Real Estate Financing, Cattle Farm loans, Dairy Farm loans, Poultry Farm loans, and Linked Lines of Credit for seasonal expense management, delivered by ag lenders with farming backgrounds to farmers and agribusiness operators in the Shenandoah Valley.
• Merchant Services Electronic payment solutions providing debit and credit card processing, point-of-sale (POS) solutions, mobile and web-based payment portals, ACH transfer capabilities, and integration with commercial accounting software such as QuickBooks, offered to business customers through F&M's partnership with Celero Commerce.
• F&M Mortgage Home mortgage lending division offering Purchase Loans, Construction Loans, Refinance, Home Equity Lines, Investment Property Loans, and Manufactured/Modular Home financing with in-house processing and underwriting with local decision-makers across the Shenandoah Valley.
• HomeHub Mobile Mortgage App Mobile mortgage experience for F&M Mortgage customers enabling them to track loan status, upload documents, communicate with their loan team, and access all mortgage information in a centralized location.
• Home Equity Loans Home equity term loans providing lump sum funds with fixed rates based on home equity, with tax-deductible interest payments, offered through F&M Mortgage.
• Home Equity Line of Credit (HELOC) Revolving credit line allowing access to funds as needed, with variable interest rates linked to the Prime Rate, accessible through checks, debit card, or online/mobile banking, with interest charged only on borrowed amounts.
• Construction Loans Short-term financing covering material and labor costs during building phases, with one-time close construction-to-permanent and two-time close options, including competitive fixed rates and interest-only payment options during construction.
• Investment Property Loans Mortgage products for purchasing commercial or residential rental properties, with a 20% down payment requirement and both fixed-rate and adjustable-rate options.

Quantifiable outcome

• Over 115 years in operation since 1908
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Celero CommercecoreTechnology or IntegrationCelero Commerce provides merchant services including debit and credit card processing for F&M Bank business customers. The partnership enables F&M Bank to offer customized payment solutions to Virginia businesses through Celero's processing platform. Carly Knicely serves as Bank Account Executive for this partnership.
• VS TitleminorOthersAffiliated company under F&M Bank Corp. mentioned in privacy policy as an affiliate company.
• F&M Financial ServicesminorOthersAffiliated company under F&M Bank Corp. mentioned in privacy policy as an affiliate company.
• F&M MortgagecoreOthersDivision of F&M Bank providing mortgage lending services including VHDA loans, FHA loans, VA loans, USDA loans, and conventional mortgages. F&M Mortgage operates with in-house processing and underwriting with local decision-makers serving Shenandoah Valley.
• Virginia Housing Development Authority (VHDA)coreChannel Partner/ Reseller/ DistributorF&M Bank is an approved VHDA lender offering Virginia Housing loans including conventional loans, FHA Plus, Rural Housing, down payment assistance grants, and Mortgage Credit Certificates. VHDA was founded in 1972 and has helped over 240,000 Virginia families afford homes.
• Showalter's Orchard & Old Hill CiderminorOthersFamily-owned orchard and cidery in Timberville, Virginia, featured in F&M Bank's local business guide to Shenandoah Valley beverages. Not a formal business partnership but featured as a local business in the community.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• National Bankshares: Virginia-headquartered community bank holding company (NASDAQ: NKSH) operating National Bank of Blacksburg across southwestern Virginia. Closest comparable by state, regulatory charter, community-bank model, and Shenandoah-adjacent footprint.
• C&F Financial Corporation: Virginia-based community bank holding company (NASDAQ: CFFI) operating Citizens and Farmers Bank. Directly comparable in size, product mix (consumer, mortgage, ag-adjacent), and community-bank charter.
• First National Corporation: Virginia community bank holding company (NASDAQ: FXNC) operating First Bank. Comparable size, branch-based community banking model, and Virginia regional footprint.
• Bank of the James Financial Group: Virginia community bank holding company (NASDAQ: BOTJ) based in Lynchburg. Comparable community-bank model serving Virginia consumers and small businesses with similar product breadth.
• Fauquier Bankshares: Virginia community bank holding company (NASDAQ: FBSS) operating Fauquier Bank. Highly comparable rural Virginia community-bank profile with consumer, mortgage, and small business lending.
• Blue Ridge Bankshares: Virginia-headquartered community bank holding company operating Blue Ridge Bank. Comparable in size and Virginia footprint, with similar personal/business/mortgage product suite.

Broad incumbents

• Atlantic Union Bankshares: Larger Virginia regional bank (NASDAQ: AUB) with statewide footprint including Shenandoah Valley. Overlaps directly in personal, business, mortgage, and ag lending, but at materially greater scale.
• United Bankshares: Mid-Atlantic regional bank holding company (NASDAQ: UBSI) operating United Bank with branches across WV, VA, MD, DC, OH. Provides a larger-scale analog with overlapping Virginia deposit and lending markets.
• Wells Fargo: National bank with significant Virginia retail and small business presence. Direct overlap on consumer checking, mortgage, and small business products; serves as the large-bank competitive incumbent in F&M's geography.

Emerging players

• Live Oak Bancshares: NC-based bank holding company (NYSE: LOB) specializing in ag and small business lending with a technology-forward model. Comparable in ag banking focus and small-business orientation, but operates digitally at larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/fmbankva
• Facebookfacebook.com/farmersandmerchantsbank
• LinkedInlinkedin.com/company/fmbankva
• Instagraminstagram.com/fmbankva
• Pinterestpinterest.com/fmva

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about F&M Bank