8-K
filed January 24, 2023, 6:59 PM ET
ticker FCBC
CIK 0000859070
earnings
confidence high
sentiment positive
materiality 0.75
First Community Bankshares Q4 net income $12.58M; dividend up 7.4%; to acquire Surrey Bancorp
FIRST COMMUNITY BANKSHARES INC /VA/
2022-FY EPS reported
$2.82
- Net income $12.58M ($0.77 diluted EPS) for Q4 2022, up from $10.56M in Q4 2021; full-year net income $46.66M ($2.82 diluted EPS).
- Quarterly dividend raised to $0.29/share (+7.4% YoY), payable Feb 24, 2023 to record Feb 10, 2023; 38th consecutive year of regular dividends.
- Entered agreement to acquire Surrey Bancorp (Mount Airy, NC); adds ~$500M in assets; expected close Q2 2023, subject to approvals.
- Net interest margin expanded 82 bps to 4.34%; loan portfolio grew 10.83% YTD ($234.63M); share repurchases curtailed due to deal.
- Nonperforming loans 0.70% of total loans; net charge-offs $2.25M in Q4 (0.37% annualized avg loans) vs $1.17M in Q4 2021.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
FIRST COMMUNITY BANKSHARES INC /VA/ reported the quarter ended December 31, 2022 results: net income $12.58 million, EPS $0.77 per diluted common share.
- Period
- the quarter ended December 31, 2022
- Net income
- $12.58 million
- EPS
- $0.77 per diluted common share
- Result
- reported results
Exact text from the filing
The Company reported net income of $12.58 million, or $0.77 per diluted common share, for the quarter ended December 31, 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
FIRST COMMUNITY BANKSHARES INC /VA/ reported the year ended December 31, 2022 results: net income $46.66 million, EPS $2.82 per diluted common share.
- Period
- the year ended December 31, 2022
- Net income
- $46.66 million
- EPS
- $2.82 per diluted common share
- Result
- reported results
Exact text from the filing
Net income for the year ended December 31, 2022, was $46.66 million or $2.82 per diluted common share.
View on SEC.gov
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