---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-027708"
form_type: "8-K"
ticker: "FCBC"
cik: "0000859070"
company_name: "FIRST COMMUNITY BANKSHARES INC /VA/"
filed_at: "2022-11-18T23:59:59+00:00"
generated_at: "2026-06-21T16:17:39.466637+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Community Bankshares to acquire Surrey Bancorp for ~$113.2M in stock

## Summary
- Surrey shareholders to receive 0.7159 FCBC shares per Surrey share, valued at $26.95/share.
- Surrey Bank & Trust has ~$500M assets; combined entity >$3.6B in assets across four states.
- Transaction expected to close in Q2 2023; minimally dilutive to TBV, mid-single digit EPS accretion.
- Two Surrey board members to join First Community Bank board; key executives including Peter Pequeno to join.

## SEC filing metadata
- accession: 0001437749-22-027708
- form_type: 8-K
- ticker: FCBC
- cik: 0000859070
- company_name: FIRST COMMUNITY BANKSHARES INC /VA/
- filed_at: 2022-11-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/859070/000143774922027708/0001437749-22-027708-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/859070/000143774922027708/fcbc20221117_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-027708
- JSON: https://secwatch.observer/filing/0001437749-22-027708.json
- Plain text: https://secwatch.observer/filing/0001437749-22-027708.txt

## Key facts
- Material Agreements
  FIRST COMMUNITY BANKSHARES INC /VA/ entered into Agreement and Plan of Merger with Surrey Bancorp valued at approximately $113.20 million (effective 2022-11-17).
  - Action: entry
  - Agreement: merger
  - Counterparty: Surrey Bancorp
  - Value: approximately $113.20 million
  - Effective: 2022-11-17
  source text: On November 17, 2022, First Community Bankshares, Inc. (“First Community”) entered into an Agreement and Plan of Merger (the “Agreement”) with Surrey Bancorp (“Surrey”), a North Carolina corporation headquartered in Mt. Airy, North Carolina under which First Community will acquire Surrey for a total valuation of approximately $113.20 million based on First Community’s recent 10-day volume-weighted average price.
  evidence_url: https://www.sec.gov/Archives/edgar/data/859070/000143774922027708/0001437749-22-027708-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.