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First Community Bankshares, Inc. Announces Third Quarter 2025 Results and Quarterly Cash Dividend

FCBC
  • First Community Bankshares, Inc. reported net income of $12.27 million ($0.67 per diluted share) for the quarter ended September 30, 2025, a 5.89% decrease from the prior year quarter.
  • Net income for the nine months ended September 30, 2025, totaled $36.33 million ($1.97 per diluted share), representing a 5.80% decline compared to the same period in 2024.
  • The company declared a quarterly cash dividend of $0.31 per share, payable on November 28, 2025, to shareholders of record on November 14, 2025.
  • This marks the 40th consecutive year of regular dividends and the 15th consecutive year of dividend increases.
  • Net interest margin remained strong at 4.43% for the third quarter, an increase of 2 basis points from the prior year period.
  • Average loan balances decreased by $116.18 million (4.73%), contributing to a $1.30 million reduction in loan interest income.
  • Noninterest income increased by $437 thousand (4.18%) driven by higher service charges on deposits and wealth management fees.
  • Noninterest expense rose by $2.10 million (8.69%), primarily due to increased salaries, benefits, service fees, and $787 thousand in merger expenses related to the upcoming acquisition of Hometown Bank.
  • Consolidated assets reached $3.19 billion on September 30, 2025, with consolidated loan balances decreasing $84.78 million from year-end 2024 levels.
  • Total non-performing assets declined to $16.90 million as of September 30, 2025, down from $20.54 million at the end of 2024.
  • Net charge-offs for the quarter were $1.42 million, or 0.24% of annualized average loans, compared to $1.13 million in the same period last year.
  • Book value per share stood at $27.89, a decrease of $0.84 from year-end 2024, largely attributed to a special cash dividend paid in the first quarter of 2025.
  • The company repurchased 50,338 shares for $1.85 million in 2025 to date, with no repurchases occurring in the third quarter.
  • First Community Bank operates 52 branches across Virginia, West Virginia, North Carolina, and Tennessee, with total assets under management of $1.75 billion in its wealth division.
  • The merger with Hometown Bank is anticipated to complete in January 2026.