First Community Bankshares Inc (OQ:FCBC)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | One Community Place BLUEFIELD VA 24605 |
| Tel: | 1-276-3269000 |
| Website: | https://ir.fcbresource.com |
| IR: | See website |
| Key People | ||
| William P. Stafford Chairman of the Board, Chief Executive Officer | Gary R. Mills President and Director; President and Chief Executive Officer of First Community Bank | David D. Brown Chief Financial Officer of Corporation and of First Community Bank |
| Jason R. Belcher Chief Operating Officer of Corporation and of First Community Bank | Sarah Harmon Chief Administrative Officer, General Counsel and Company Secretary of Corporation and of First Community Bank | |
| Business Overview |
| First Community Bankshares, Inc. is a financial holding company, which provides banking products and services through its wholly owned subsidiary First Community Bank (the Bank). It operates in community banking segment, which consists of all operations, including commercial and consumer banking, lending activities, and wealth management. The Bank offers wealth management and investment advice through its Trust Division and wholly owned subsidiary First Community Wealth Management. Its commercial loans consist of loans to small and mid-size industrial, commercial, and service companies. Commercial real estate projects represent a variety of sectors of the commercial real estate market, including single family and apartment lessors, commercial real estate lessors, and hotel/motel operators. Consumer real estate loans segment consists of loans to individuals within its market footprint for home equity loans and lines of credit and for the purpose of financing residential properties. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, First Community Bankshares Inc interest income increased 20% to $137.2M. Net interest income after loan loss provision increased 13% to $119.7M. Net income increased 3% to $48M. Net interest income after loan loss provision reflects Community Banking segment increase from $0K to $119.7M, Net Interest Margin, Total -% increase of 13% to 4.44%, Net Interest Spread, Total -% increase of 9% to 4.25%. |
| Employees: | 616 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $513.14M as of Dec 31, 2023 |
| Annual revenue (TTM): | $137.17M as of Dec 31, 2023 |
| EBITDA (TTM): | $73.19M as of Dec 31, 2023 |
| Net annual income (TTM): | $48.02M as of Dec 31, 2023 |
| Free cash flow (TTM): | $37.97M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 18,470,596 as of Mar 1, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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