---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-001682"
form_type: "8-K"
ticker: "FCBC"
cik: "0000859070"
company_name: "FIRST COMMUNITY BANKSHARES INC /VA/"
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T11:20:20.864686+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Community Bankshares Q4 net income $12.58M; dividend up 7.4%; to acquire Surrey Bancorp

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-001682
- form_type: 8-K
- ticker: FCBC
- cik: 0000859070
- company_name: FIRST COMMUNITY BANKSHARES INC /VA/
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/859070/000143774923001682/0001437749-23-001682-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/859070/000143774923001682/fcbc20230123_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-001682
- JSON: https://secwatch.observer/filing/0001437749-23-001682.json
- Plain text: https://secwatch.observer/filing/0001437749-23-001682.txt

## Key facts
- Earnings Releases
  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
  source text: The Company reported net income of $12.58 million, or $0.77 per diluted common share, for the quarter ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/859070/000143774923001682/0001437749-23-001682-index.htm
- Earnings Releases
  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
  source text: Net income for the year ended December 31, 2022, was $46.66 million or $2.82 per diluted common share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/859070/000143774923001682/0001437749-23-001682-index.htm

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