FIRST COMMUNITY BANKSHARES INC /VA/ Earnings Per Share Disclosure
Note 17. Earnings per Share
The following table presents the calculation of basic and diluted earnings per common share for the periods indicated:
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| (Amounts in thousands, except share and per share data) | ||||||||||||
| Net income | $ | 48,794 | $ | 51,604 | $ | 48,020 | ||||||
| Weighted average common shares outstanding, basic | 18,312,570 | 18,349,498 | 17,996,373 | |||||||||
| Dilutive effect of potential common shares | ||||||||||||
| Stock options | 21,422 | 33,692 | 15,856 | |||||||||
| Restricted stock and units | 76,459 | 47,016 | 14,922 | |||||||||
| Total dilutive effect of potential common shares | 97,881 | 80,708 | 30,778 | |||||||||
| Weighted average common shares outstanding, diluted | 18,410,451 | 18,430,206 | 18,027,151 | |||||||||
| Basic earnings per common share | $ | 2.66 | $ | 2.81 | $ | 2.67 | ||||||
| Diluted earnings per common share | 2.65 | 2.80 | 2.72 | |||||||||
| Potential antidilutive common shares | ||||||||||||
| Stock options | - | - | 129,324 | |||||||||
| Restricted stock and units | - | 76 | 32,706 | |||||||||
| Total potential antidilutive shares | - | 76 | 162,030 | |||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Mar 3, 2022 | |
| 2020 | Mar 12, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Mar 5, 2018 | |
| 2016 | Mar 3, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.