First Community Bankshares Q2 net income $0.76 EPS, up 65% YoY; dividend raised 8%

FIRST COMMUNITY BANKSHARES INC /VA/

2021-Q2 EPS reported $1.59

Net income of $13.4M ($0.76 diluted EPS) vs $8.2M ($0.46) in Q2 2020, a 65% EPS increase.
Record results driven by reversal of $2.23M in credit loss provision vs $3.83M provision in Q2 2020.
Quarterly cash dividend increased 8% to $0.27/share, payable Aug 23 to holders of record Aug 9.
Repurchased 261,600 shares for $7.98M in Q2; YTD 449,300 shares for $12.96M.
Non-interest income up 27.25% YoY; book value per share $24.66.

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