F&M Bank Corp. is a one-bank holding company that owns Farmers & Merchants Bank, a community bank headquartered in Timberville, Virginia, serving the Shenandoah Valley region. The bank has operated as a state-chartered commercial bank since 1908 and runs with 173 full-time equivalent employees. F&M Bank offers standard commercial banking products, including deposit accounts, commercial and consumer loans, residential mortgages, and indirect auto loans. The bank also originates conventional and government-sponsored mortgages for sale in the secondary market, generating fee income that supplements net interest income. F&M Bank's business model is traditional: it takes in deposits and lends that money out at a higher rate, with interest and fees on loans representing roughly 70-73% of total operating revenue. Key profit drivers include loan volume and mix, net interest margin, mortgage banking fees, and credit quality. The bank also owns VSTitle, a small title insurance subsidiary serving the local market. F&M Bank's primary market is the Shenandoah Valley of Virginia, where the local economy is anchored by agriculture, manufacturing, services, and government employment. The bank's competitive positioning centers on its long local history, physical presence in the region, and relationship-based banking for individuals and small-to-mid-sized businesses.