Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - F&M BANK CORP | fmbm_8k.htm |
Exhibit
99.1
F&
M Bank Corp. – News
F&
M BANK CORP. ANNOUNCES ACQUISITION OF TITLE COMPANY
TIMBERVILLE, VA
– January 4, 2017 – F & M Bank Corp. (OTCBB: FMBM),
parent company of Farmers & Merchants Bank, announced that
effective January 1, 2017 it has acquired Valley Southern Title,
Ltd. (VSTitle). VSTitle is a real estate settlement and title
insurance company with offices in Harrisonburg, Fishersville and
Charlottesville, VA. VSTitle has been in operation since
1985.
Dean
Withers, President & CEO of F&M Bank Corp. commented,
“We are very pleased to
announce the acquisition of VSTitle. VSTitle has been a successful
title company in the Harrisonburg market for over 30 years and in
recent years has expanded its footprint to include both
Fishersville and Charlottesville, VA. This acquisition will allow
us to utilize the infrastructure that is already in place at
VSTitle, while leveraging that with the significant volume of
business that will be derived from Farmers & Merchants Bank and
our subsidiary, VBS Mortgage.
Dale
Shoop, General Manager of VSTitle stated, “We are excited by the opportunity to
join our business with such a strong, successful community bank. We
are confident that combining our resources with that of Farmers
& Merchants Bank and VBS Mortgage will result in our being an
increasingly successful company for many years to
come.”
F &
M Bank Corp. is an independent, locally-owned, community bank
holding company, offering a full range of financial services,
through its subsidiary bank, Farmers & Merchants Bank’s
twelve banking offices in Rockingham, Shenandoah, Page and Augusta
Counties, Virginia. 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 Commissionfilings. 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.
SOURCE:
F & M Bank
Corp.
CONTACT:
Neil Hayslett,
EVP/CAO, Farmers & Merchants Bank540-896-8941 or
nhayslett@fmbankva.com