First Community Bancshares ( (FCBC) ) has released its Q1 earnings. Here is a breakdown of the information First Community Bancshares presented to its investors.
First Community Bankshares, Inc., headquartered in Bluefield, Virginia, operates as a financial holding company providing banking products and services through its subsidiary, First Community Bank, across 53 branches in Virginia, West Virginia, North Carolina, and Tennessee. The company also offers wealth management services through its Trust Division and First Community Wealth Management.
In its latest earnings report for the first quarter of 2025, First Community Bankshares announced a net income of $11.82 million, translating to $0.64 per diluted common share. The company also declared a quarterly cash dividend of $0.31 per common share, marking the 40th consecutive year of regular dividends and the 15th consecutive year of dividend increases.
Key financial metrics revealed a net interest margin of 4.34%, with a slight decrease in interest income due to reduced average balances in loans and securities. Noninterest income saw a notable increase of 10.48%, driven by higher service charges on deposits and other operating income. However, noninterest expenses also rose by 6.66%, primarily due to increased salaries and benefits.
The company’s consolidated assets stood at $3.23 billion, with a decrease in loans and securities available for sale. Despite a reduction in stockholder equity due to a special cash dividend, cash and cash equivalents increased by 9.86%. Asset quality showed a slight increase in non-performing loans, while the allowance for credit losses remained stable.
Looking ahead, First Community Bankshares remains focused on managing its financial performance amidst changing market conditions, with an emphasis on maintaining strong asset quality and delivering consistent shareholder returns.