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F&M Reports
Income Decline
Second quarter net income for F&M National Corporation was $550,503. or 27 cents per share, down 10 per cent from $611,177. or 31 cents per share, for the same quarter of 1979.
Net income for the first six months of 1980 was $1.02 million, or 61 cents per share, a decrease of 1.4 per cent from $1.4 million or 62 cents per share, or the firse six months of 1979.
As of June 30 net loans were up 1 per cent to $126.6 million from $125.4 million a year earlier. Deposits were $178.2 million a 5.7 per cent increase from $168.7 million and total assets rose 6 per cent from $191 million to $202.5 million.
F&M maintains a branch office in Flint Hill.
82.8%