First Community Bankshares Q1 net income $9.52M, EPS $0.56; dividend up 8% to $0.27

FIRST COMMUNITY BANKSHARES INC /VA/

2022-Q1 EPS reported $0.56

Net income of $9.52M ($0.56 diluted EPS) vs $14.6M ($0.82) in Q1 2021; decrease driven by $1.96M provision vs $4.00M reversal year ago.
Net interest margin 3.55%, up 3 bps from Q4 2021; cost of interest-bearing deposits fell to 0.10%.
Loan portfolio grew $78.7M (14.7% annualized); strong demand across construction, CRE, residential mortgage, and consumer.
Quarterly cash dividend increased 8% to $0.27/share, payable May 20 to holders of record May 6; 37th consecutive year of regular dividends.
Repurchased 132,000 shares for $4.09M during Q1; non-performing loans remained low at 0.96% of total loans.

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