F&M Bank Corp. announced its intention to open a new location in the City of Waynesboro, VA, expanding the $1 Billion community bank’s presence to four banking offices in the Augusta County market and 12 offices serving the greater Shenandoah Valley. F&M Bank has entered into an agreement with Carter Bankshares Inc. to acquire the branch, and associated client relationships, located at 2701 West Main Street in Waynesboro. This agreement is subject to regulatory approvals and customary closing conditions and is expected to be completed early in the second quarter of 2021.