FCBC Q1 net income $11.78M (+24% YoY); completes Surrey Bancorp deal; dividend $0.29

FIRST COMMUNITY BANKSHARES INC /VA/

2023-Q1 EPS reported $0.72

Net income $11.78M ($0.72 diluted EPS), up 24% from $9.52M YoY; annualized ROAA 1.55%, ROAE 11.15%.
Net interest margin 4.35%, up 80 bps YoY; cost of interest-bearing deposits 0.16%.
Completed acquisition of Surrey Bancorp ($468M assets, $253M loans, $405M deposits) on April 21, 2023.
Quarterly dividend increased 7.4% to $0.29/share, payable May 26, 2023 to holders of record May 12.
Non-performing loans low at 0.65% of total loans; book value $26.58/share, up $0.57 from year-end.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST COMMUNITY BANKSHARES INC /VA/ reported quarter ended March 31, 2023 results: net income $11.78 million, EPS $0.72 per diluted common share.

Period: quarter ended March 31, 2023
Net income: $11.78 million
EPS: $0.72 per diluted common share
Result: reported results

Exact text from the filing

The Company reported net income of $11.78 million, or $0.72 per diluted common share, for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001437749-23-011015

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