FCBC Q2 net income $11.2M, EPS $0.67; raises quarterly dividend to $0.29

FIRST COMMUNITY BANKSHARES INC /VA/

2022-Q2 EPS reported $1.24

Q2 2022 net income $11.21M ($0.67 diluted EPS); first-half net income $20.73M ($1.24).
Quarterly cash dividend increased to $0.29 per share (7.41% increase from Q2 2021); payable Aug 19 to holders of record Aug 5.
Loan portfolio grew $134.23M in H1 2022 (12.5% annualized rate); net interest margin improved to 3.78% from 3.68% YoY.
Company repurchased 283,507 shares for $7.95M in Q2; non-performing loans remained low at 0.80%.
Annualized ROAA of 1.38% for Q2 and 10.61% ROACE; cost of funds remained low at 0.06%.

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