FIRST COMMUNITY BANKSHARES INC /VA/

Listed Company

FCBCCIK 0000859070NasdaqAcceleratedState Commercial BanksVirginiaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$48.79M

Total Assets

$3.26B

Equity

$500.55M

Shares Out

19.08M

Op. Cash Flow

$62.74M

Business

FIRST COMMUNITY BANKSHARES INC /VA/ is a financial holding company that provides banking products and services through its wholly owned subsidiary, First Community Bank. It offers deposit, loan, treasury, mortgage, trust, wealth management and investment advisory services through its Bank, Trust Division and wholly owned First Community Wealth Management. The company reports a single operating segment, Community Banking, with subsidiaries and divisions focused on retail and commercial banking, trust services and wealth management. It distributes services through a network of branches across Virginia, West Virginia, North Carolina and Tennessee.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	123	130	127	105	103
Interest on securities -- taxable	4	5	7	5	700,000
Interest on securities -- tax-exempt	314,000	468,000	611,000	715,000	1
Interest on deposits in banks	15	11	2	4	741,000
Total interest income	143	146	137	114	105
Interest on deposits	18	20	9	2	3
Interest on short-term borrowings	0	36,000	140,000	2,000	1,000
Total interest expense	18	20	9	2	—
Net interest income	125	126	128	113	102
Provision for credit losses	72,000	4	8	7	−8
Net interest income after provision for loan losses	125	123	120	106	111
Net loss on sale of securities	0	0	−21,000	0	0
Noninterest Income, Other Operating Income	6	7	6	5	6
Total noninterest income	43	39	37	37	34
Salaries and employee benefits	56	52	50	47	44
Occupancy expense	6	5	5	5	5
Furniture and equipment expense	6	6	6	6	6
Service fees	10	10	9	8	6
Advertising and public relations	4	4	3	2	2
Professional fees	1	1	2	1	2
Amortization of intangibles	2	2	2	1	1
FDIC premiums and assessments	1	1	2	1	832,000
Merger expense	3	0	2	596,000	0
Litigation expense	0	2	3	0	0
Other Cost and Expense, Operating	14	13	12	10	12
Total noninterest expense	104	97	95	83	79
Income before income taxes	63	66	62	60	67
Income tax expense	14	14	14	13	15
Net income	49	52	48	47	51
Basic (in dollars per share)	2.66	2.81	2.67	2.82	2.95
Diluted (in dollars per share)	2.65	2.8	2.72	2.82	2.94
Common dividends declared, per share (in dollars per share)	4.31	1.2	1.16	1.12	1.04
Basic (in shares)	18	18	18	17	17
Diluted (in shares)	18	18	18	17	17

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	126	79	78	63	47
Federal funds sold	384	297	37	106	627
Interest-bearing deposits in banks	2	2	2	2	3
Total cash and cash equivalents	512	377	116	171	677
Debt securities available for sale, at fair value	133	170	281	300	76
Loans held for investment, net of unearned income	2,315	2,416	2,572	2,400	2,166
Allowance for credit losses	−31	−35	−36	−31	−28
Loans held for investment, net	2,284	2,381	2,536	2,370	2,138
Premises and equipment, net	48	49	51	47	52
Other real estate owned	0	521,000	192,000	703,000	1
Interest Receivable	9	9	11	9	8
Goodwill	144	144	144	130	130
Other intangible assets	11	13	15	4	6
Other assets	119	117	114	104	107
Total assets	3,260	3,261	3,269	3,136	3,195
Noninterest-bearing deposits	896	883	932	872	843
Interest-bearing deposits	1,789	1,808	1,790	1,807	1,887
Total deposits	2,685	2,691	2,722	2,679	2,729
Securities sold under agreements to repurchase	1	906,000	1	2	2
Interest, Taxes And Other Liabilities	73	43	42	33	36
Total liabilities	2,759	2,735	2,765	2,714	2,767
Preferred stock, undesignated par value; 1,000,000 shares authorized; Series A Noncumulative Convertible Preferred Stock, $0.01 par value; 25,000 shares authorized; none outstanding	0	0	0	0	0
Common stock, $1 par value; 50,000,000 shares authorized; 27,662,570 issued and 18,334,787 outstanding at December 31, 2025; 27,599,240 shares issued and 18,321,795 shares outstanding at December 31, 2024	18	18	19	16	17
Additional paid-in capital	170	170	176	129	148
Retained earnings	319	349	320	293	265
Accumulated other comprehensive loss	−8	−11	−11	−16	−2
Total stockholders' equity	501	526	503	422	428
Total liabilities and stockholders' equity	3,260	3,261	3,269	3,136	3,195

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of premises and equipment	4	4	4	4	4
Accretion of discounts on investments, net	−1	−998,000	−2	−261,000	454,000
Accretion on acquired loans	−2	−3	−3	−3	−5
Equity-based compensation expense	1	403,000	597,000	718,000	1
Issuance of common stock to 401(k) plan	727,000	635,000	606,000	657,000	492,000
Loss (gain) on sale of premises and equipment, net	3,000	−815,000	−189,000	−772,000	499,000
Provision expense and loss on sale of other real estate owned	193,000	29,000	84,000	453,000	231,000
Dividend payable	18	0	0	—	—
Increase (decrease) in other operating activities	−9	−299,000	4	4	1
Net cash provided by operating activities	63	58	62	59	48
Proceeds from sale of available for sale securities	0	0	39	0	370,000
Proceeds from maturities, prepayments, and calls of securities available for sale	137	221	84	26	27
Payments to acquire securities available for sale	−94	−110	−74	−269	−22
Proceeds from repayments of loans, net	99	153	65	−237	27
Proceeds from bank owned life insurance	0	585,000	0	—	—
Redemption of (payments for) FHLB stock, net	29,000	265,000	−877,000	−240,000	1
Net cash provided by acquisitions and divestitures	0	0	177	−59	0
Proceeds from sale of premises and equipment	0	1	2	2	3
Payments to acquire premises and equipment	−3	−3	−3	−1	−3
Proceeds from sale of other real estate owned	519,000	440,000	798,000	564,000	2
Net cash provided by investing activities	140	264	289	−537	35
Increase (decrease) in noninterest-bearing deposits, net	13	−48	−99	48	70
(Decrease) increase in interest-bearing deposits, net	−19	17	−261	−37	113
Changes in securities sold under agreements to repurchase, net	308,000	−213,000	−755,000	0	572,000
Proceeds from stock options exercised	248,000	1	91,000	172,000	538,000
Payments for repurchase of common stock	−2	−9	−23	−21	−29
Payments of common stock dividends	−61	−22	−21	−19	−18
Net cash used in financing activities	−68	−61	−405	−29	137
Net increase (decrease) in cash and cash equivalents	135	261	−54	−507	221
Cash paid for interest	16	19	9	2	3
Cash paid for income taxes	10	13	12	8	14
Transfer of loans to other real estate	192,000	798,000	391,000	705,000	1
Loans originated to finance the sale of other real estate	0	0	20,000	0	59,000
Change in accumulated other comprehensive income/(loss)	4	−220,000	5	−14	377,000
Fair value of assets acquired	0	0	466	0	0
Fair value of liabilities assumed	0	0	409	0	0
Net assets acquired	0	0	71	0	0
Common stock issued in acquisition	0	0	71	0	0

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