Business Description
F & M Bank Corp., incorporated in Virginia in 1983, is a one bank holding
company of the Bank Holding Company Act of 1956, and owns 100% of the outstanding
stock of its affiliate, Farmers & Merchants Bank (Bank). TEB Life Insurance
Company (TEB) and Farmers & Merchants Financial Services, Inc. (FMFS) are
wholly owned subsidiaries of Farmers & Merchants Bank. Farmers & Merchants
Bank also holds a majority ownership in VBS Mortgage LLC, (VBS).
Farmers & Merchants Bank was chartered on April 15, 1908, as a state chartered
bank under the laws of the Commonwealth of Virginia. TEB was incorporated on
January 27, 1988, as a captive life insurance company under the laws of the
State of Arizona. FMFS is a Virginia chartered corporation and was incorporated
on February 25, 1993. VBS (formerly Valley Broker Services, Inc.) was incorporated
on May 11, 1999. The Bank purchased a majority interest in VBS on November 3,
2008.
As a commercial bank, the Bank offers a wide range of banking services including
commercial and individual demand and time deposit accounts, repurchase agreements
for commercial customers, commercial and individual loans, internet and mobile
banking, drive-in banking services, ATMs at all branch locations and several
off-site locations, as well as a courier service for its commercial banking
customers. TEB was organized to re-insure credit life and accident and health
insurance currently being sold by the Bank in connection with its lending activities.
FMFS was organized to write title insurance but now provides brokerage services,
commercial and personal lines of insurance to customers of the Bank. VBS originates
conventional and government sponsored mortgages through their offices in Harrisonburg,
Woodstock and Fishersville.
The Bank makes various types of commercial and consumer loans and has a large
portfolio of residential mortgages and a concentration in development lending.
The local economy is relatively diverse with strong employment in the agricultural,
manufacturing, service and governmental sectors.
The Company’s and the Bank’s principal executive office is at 205
South Main Street, Timberville, VA 22853, and its phone number is (540) 896-8941.
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