F & M Bank Corp. · OTC:FMBM
F & M Bank — Investor Presentation (September 2026)
28 slides from F & M Bank's investor presentation, Sep 9, 2026
Slide 1: F&M Bank Corp. Investor Presentation
F&M Bank Corp. Investor Presentation September 2026
Slide 2: Caution Regarding Forward Looking Statements
Caut Asusedinthi presentation, theterme "Company. “FEM on Regarding Forward Looking Statements "0," “we. out rus" refertoF& Mark Corp. nd its consolidated subsiiaries. The"Bank" refer to Farmers & Merchants Bank; which awholly owned eubsciry fhe Coma. certain statement inthis presentation may constu
Slide 3: Non-GAAP Disclaimer
Non-GAAP Disclaimer ‘The Cempany uses certain non-GAAP (Generally Accepted Accounting Principle} financial measure this presentation including cere return cn average asses, core earnings per share, coreretum onaverage tangible commen ‘equity, corenen- interest expense to average sskets, core noninte
Slide 4: Executive Summary
Executive Summary Company Overview Performance Metrics > Community-fcusedfnancil institution foundedin 608 withheadquortersin || I Tea re, EaiEy aerial Timberville, A Total Assets .29bn 301 al 10bn > Reconstituted leadershipteam in April 2023; focused mandate to enfiance seas S12050 Sa) Sus sharehol
Slide 5: Experienced Management Team
Exper enced Management Team Mike Wilkerson f Chief Executive Officer ‘Mr. Wilkerson has served as the Chief Executive Officer of the Company and the Bank since April 2023, He ‘commenced his banking career in 1922, starting in Dealer Financial Services before transitioning to managing branches and ex
Slide 6: Experienced Management Team — Continued
Experienced anagement Team — Continued Paul Eberly Executive VP & Chief Lending Officer Paul E. Eberly has served as Executive Vice President/Chiet Lending Officer since June 2025. Prior to that, he served as Executive Vice President/Chief Development Officer from September 2022 to June 2025, Execut
Slide 7: F&M Bank Corp. Board of Directors
F&M Bank Corp. Board of Directors Michael Pugh - Chairman PeterWray President of Old Dominion Realty, Inc. and VP of Colonial Appraisal Service, nc. Chair of Executive Committee Dean Withers - Vice Chairman Principal broker at Triangle Realtors Ray Burkholder Previously served as Chief Executive Off
Slide 8: Positioned Across Attractive Virginia Growth Corridors
Positioned Across Attractive Virginia Growth Corridors Well Positioned in Desirable Markets Serving attractive growth comridors in Virginia: I-81, 1-66, -64 Local market leadership in Rockingham, Shenandoah, and Augusta counties Branches positioned to serve both rural and expanding suburban hubs Dee
Slide 9: Warrenton / Fauquier County: Attractive Eastward Expansion
Warrenton / Fauquier County: Attractive Eastward Expansion Sieicie cv. —<—<——————— > Attractivemarket fundamentals = 16,153 population with 2.3% annual projected population growth = $125,309 median household income and $593,667 median home sales price = 165,376 acres restricted to agriculture (-40%
Slide 10: Market Overview & Demographics
Market Overview & Demographics Market Overview 7 Market Drivers ——— > Diverse economy based on manufacturing, agriculture, and education with major industriesof advanced foodmanufacturing, | farming, retail trade, government, education, and healthcare | > Winchester/Frederick Countyis partof the “Qu
Slide 11: Strong Market Share in Core Legacy Markets
Strong Market Share in Core Legacy Markets ___Market Leadership Built on Community Relationships #1 market share in Rockingham County with $861mm in deposits — an 8.2% 5-year CAGR #3 market share in Shenandoah County with $176mm in deposits — an 8.196 5-year CAGR FMBM has gained significant market s
Slide 12: Deposit Concentration in Augusta, VA (County)
Deposit Concentration in Augusta, VA"? (County) H igh Ceil ngin Deposits Deposits | sYeer Top Institutions by Deposits 2020. ($000s) ‘Top Institutions by Deposits 2025 ($000s) CAGR. jacen i ENANCOAN zruscen 358573 loc Uo Bank 012 Valley Markets 5 The Nor! ark flats tates flamers Merchant aaapon] | 1
Slide 13: Further Expansion Opportunities Across VA Growth Markets
Further Expansion Opportunities Across VA Growth Markets Population: Deposits in Marke: Market Share fTop 10) Wat Bank: Market Bank ofareica 27a welts Fargo Bank 165% icginia National Bank 12a ruisteank 22% _: |Oak View National Bank Lynchburg, VA {City} ee [eiue Ridge Bank! Population 20500 22% De
Slide 14: Delivering Strong Core Performance
Delivering Strong Core Performance = coreeps I as 98 992 gy | eT Ponca. mAA2 2mOR AMON 22501 202502 20703 202504 202601 207602 16.21% 607% 13% BE asx 4, yg, 12.6 os oor ost ae | uo Bos | a or | ‘maar waar DOs DIO B21 2502 27503 FA m1 22602 mmAL W2E2 WMA3 MAA Ai 27502 0703 72504 22601 207602 °. 7 oar
Slide 15: 08% gsi O87 86% g37% gy 08%
au 00% 08% gsi O87 86% g37% gy 794 08% 072% : . 2mAL 72402 292403 202404 702501. 202502 297503 202504 702601. 202602 Net Interes 291% 2m 274% 277% oo —= 2924 297% 300% 258% pszq 20% 2676 py 2m " ‘ap2aai 22402 292403 202404 202501 202502 202503 202508 202601 202602 0.5% eee 78% 730% 76% m0 sme . 66.1
Slide 16: High-Quality Loan Portfolio
High-¢ oa 2 TATE EIT’ Uc n Portfolio BB BEE EEEE SE woman m2 m3 AAA M75 297502 707803 207504 297601 292602 > Loan portfoliowell-diversfied across CRE, C&l, agriculture, and residential segments > High quality underwriting standards and relationship-based lending, philosophy > Strong expertisein comm
Slide 17: Commercial Banking Platform: Diversified Portfolio & Growth Opportunity
Commercial Banking Platform: Diversified Portfolio & Growth Opportunity aa eesti wes wie ord balance om > $240mm commercial portfolio diversified across CRE, A&D, and C&l supported by an experienced team with continued expansion east af the Blue Ridge ‘Commercial Loan Composition Portfolio Detail as
Slide 18: Current Agriculture Franchise — Expansion East of the Blue Ridge
Current Agriculture Franchise — Shenandoah Valley Expansion Opportunity — East of the Blue Ridge - S2esmm+ 167mm 7 SSS Ag loans originated Current agriculture Experienced ag (last 75 yeas portflio balance team members Total Farms 5,709 Farm Products Sold $2.2bn $479mm > Proven, reletionship-criven a
Slide 19: Deposit Franchise
L sass Shes S128 gaavs $10 s1age $4235 SLMS SLI $1257 > 234 noninterest-bearing, or $294mm total in Q2 2026 fi > Cost of total deposits declined to 1.78%in Q2 2026, indicating clisciplined pricing and favorable mix > Diversified customer base across retail, commercial, and ag supporting stability an
Slide 20: Valuable, Recurring Noninterest Income
Valuable, Recurring Noninterest Income Diversified Fee Income Engine > $35 million in core noninterest income in Q2 2026 > Reduces dependence on net interest margin and enhances performance across rate cycles > Feeincomeis driven by a balanced, recurring mic = Interchange fee income (29%) = Wealth m
Slide 21: Capital Ratios Trends
Capital Ratios Trends gible Common Equity / Tangible Assets aa Peres Bans 8236 ‘maaL maOZ wads MAK 251 22502 M703 72504 12601 2202 ‘zmmax 102 22403 22400 271 207502 202503 70250A 202601 202602 13.50% ‘aca 72002 297103 292404 M2501 202502 202503 22504 7/260 702602 ‘momaan aa4a2 22403 202408 207501 20
Slide 22: Consistent Strong Asset Quality
7 Consistent Strong Asset Quality —— NPA levels healthy at 0.289 of assets, a bps QoQ decline 0.87% allowance for loan losses amid stable credit performance 0.06% net charge-offs of average loans in Q2 2026, demonstrating isk management Results reflect conservative underwriting standards and proacti
Slide 23: Key Investment Considerations
Key Investment Considerations v vvyvY Strategic Goals for 2026+ Expand geographic reach into growth markets consistent with core Scale high-margin fee businesses (wealth, mortgage, title) Continue to improve NIM by optimizing earning asset mix via loan growth Accelerate digital capabilities to drive
Slide 24: Appendix
Appendix
Slide 25: Non-GAAP Reconciliation
Non-GAAP Reconciliation (pac Net nterectincome S$ U7 5 519 $ Bm $ HHS S$ 91m $ S55 S$ 94M $ 1057 $ IDAw $ Hoe $ KEE 5 LLM $ 125 $ 29762 Fravisonfor creat Losees 405 a (7 oz LOM oy ae? sp 10am 08 = 78 Noninterez come 9am 23k 5582s sas anes mer aT amos 007 gam 577 fesied Ganon Secuties q H Nor-ecuring
Slide 26: Non-GAAP Reconciliation
Non-GAAP Reconciliation (page 2 of 4) SSS $ mm S$ Tm S$ me 5 mm § OEE § aBE $M S S$ img7sh $0396? § amser SAME § ze § ma (yang eae 2a 338 21m, fis as 2s 28 35 aan 303 2m 235 arin Common ny Tham Fes Sms Swe 5 Rea Saas Fass 7 asi = 5 tose 5 hemo S masrs Sms yao (om zen poz asm rary ers (0) irae fons z
Slide 27: Non-GAAP Reconciliation
Non-GAAP Reconciliation PretacNetincome $ 20S $ 126 S$ 346 S$ om $ 25 $ 7908 S$ ZO $ 340 $ 330 S$ 357 $ ins $ 3m S Gm $ 105 (Reaized ainson secures fl Non ecarineRevense a ° 8 .me ame [s)NowRecuring perce 2300 Ed (s00) 237 ‘Care Prete Netlncore 3 sem Same S awe Sans 3 200 $ gio S zen 3 sam 3 ame 3 a
Slide 28: } Foreclosure & Repo = tay co) (ay (73) = (73) S
} Foreclosure & Repo = tay 7 1 co) (ay (73) = (73) S apa a a a ae eT eT om a a a a ar SSS SSS Ean Pe ee eee F&M Bank Corp. | Investor Presentation | 28