Form 8-K

8-K — FIRST COMMUNITY BANKSHARES INC /VA/

Accession: 0001437749-26-023945

Filed: 2026-07-21

Period: 2026-07-21

CIK: 0000859070

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — fcbc20260526_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_968052.htm)

GRAPHIC (ex_505116img001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: fcbc20260526_8k.htm · Sequence: 1

fcbc20260526_8k.htm

false

0000859070

2026-07-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2026

FIRST COMMUNITY BANKSHARES, INC.

(Exact name of registrant as specified in its charter)

Virginia

000-19297

55-0694814

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

P.O. Box 989

Bluefield, Virginia

24605-0989

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (276) 326-9000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock ($1.00 par value)

FCBC

NASDAQ Global Select

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On July 21, 2026, First Community Bankshares, Inc. (the “Company”) announced by press release its earnings for the second quarter of 2026. A copy of the press release is attached hereto as Exhibit 99.1.

Item 8.01

Other Events.

On July 21, 2026, the Company announced by press release its quarterly cash dividend to common shareholders of thirty-three cents, $0.33 per common share, payable on or about August 21, 2026, to shareholders of record on August 7, 2026.

A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01

Financial Statements and Exhibits.

(d)

The following exhibit is included with this report:

Exhibit No.

Exhibit Description

99.1

104

Earnings release dated July 21, 2026.

Cover Page Interactive Data File (formatted as Inline XBRL).

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may differ materially. These risks include: changes in business or other market conditions; the timely development, production and acceptance of new products and services; the challenge of managing asset/liability levels; the management of credit risk and interest rate risk; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission reports, including but not limited to the Annual Report on Form 10-K for the most recent year ended. Pursuant to the Private Securities Litigation Reform Act of 1995, the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FIRST COMMUNITY BANKSHARES, INC.

Date:

July 21, 2026

By:

/s/ David D. Brown

David D. Brown

Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_968052.htm · Sequence: 2

ex_968052.htm

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE:

FOR MORE INFORMATION, CONTACT:

July 21, 2026

David D. Brown

(276) 326-9000

First Community Bankshares, Inc. Announces Record Second Quarter 2026 Results and Quarterly Cash Dividend

Bluefield, Virginia – First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the “Company”) today reported its unaudited results of operations and other financial information for the quarter ended June 30, 2026. The Company reported a record quarterly net income of $22.51 million, or $1.19 per diluted common share, for the quarter ended June 30, 2026. Net income for the six months ended June 30, 2026, was $34.54 million or $1.82 per diluted common share.

The Company also declared a quarterly cash dividend to common shareholders of thirty-three cents, $0.33, per common share, an increase of $0.02, or 6.45%, over last quarter. The quarterly dividend is payable to common shareholders of record on August 7, 2026, and is expected to be paid on August 21, 2026. This year marks the 41st consecutive year of regular dividends to common shareholders.

Second Quarter 2026 Highlights

Income Statement

Net income for the second quarter of 2026 reached a record $22.51 million, an increase of $7.87 million over the previous record of $14.64 million reported in the third quarter of 2023, and $10.27 million, or 83.84%, higher than net income of $12.25 million in the second quarter of 2025. Net income of $34.54 million for the first six months of 2026, was an increase of $10.48 million or 43.54%, from the same period in 2025.

When adjusted for merger-related and other non-recurring items, net income for the quarter was $14.38 million, an increase of $2.14 million, or 17.47%, compared to the same period in 2025. The most significant non-recurring item in the second quarter was a $10.39 million pre-tax gain on the sale of the Company's stake in Bearing Insurance. For the first six months of 2026 adjusted net income totaled $28.05 million, an increase of $3.99 million, or 16.57%, from the same time period of 2025. In addition to the Bearing gain, the first six months of 2026 includes pre-tax merger-related costs of $2.31 million.

Net interest margin remained strong at 4.38% in the second quarter of 2026, up one basis point from the second quarter of 2025. Net interest rate spread increased nine basis points to 4.06%, driving a $4.27 million, or 13.87%, increase in tax-equivalent net interest income. The improvement was primarily driven by an increase in the average balance of interest earnings assets and lower funding cost yields. Average earning assets increased $382.18 million, or 13.52%, contributing $4.27 million in additional interest income, while the yield of interest-bearing deposits declined 16 basis points.

Net interest income after provision for loan losses increased $3.45 million, or 11.15%, compared to June 30, 2025. The increase was driven by an increase in average earning assets, a result of last quarter's acquisition of Hometown Bancshares.

Noninterest income increased approximately $12.00 million, or 116.06%, when compared to the same quarter of 2025. The increase is attributable primarily to a gain of $10.38 million on the sale of the Company's portion of Bearing Insurance. Noninterest expense increased $2.11 million, or 8.29%, when compared to the same period of 2025. The increase is attributable mostly to increases in salaries and benefits of $778 thousand, or 5.42%, other operating expense of $627 thousand, or 18.70%, and service fees of $383 thousand, or 15.47%.

Annualized return on average assets ("ROA") was 2.49% for the second quarter of 2026 compared to 1.53% for the same period of 2025. Annualized return on average common equity ("ROE") was 16.90% for the second quarter of 2026 compared to 9.84% for the same period of 2025.

When adjusted for merger and non-recurring expenses, ROA was 1.59% for the second quarter of 2026 and ROE was 10.80%. Return on average tangible common equity continues to remain strong at 15.58% for the second quarter of 2026.

Balance Sheet and Asset Quality

Consolidated assets totaled $3.61 billion at June 30, 2026.

The Company's loan portfolio increased $145.00 million, or 6.26% from year-end 2025. Excluding the Hometown acquisition, the loan portfolio decreased approximately $26.05 million, or 1.13%. However, loan production for the second quarter of 2026 was $134.45 million, compared to $78.89 million for the same quarter in 2025, a 70.43% increase.

The Company did not repurchase any common shares in the second quarter of 2026; however, 504,652 common shares at total cost of $20.33 million were repurchased during the first quarter of 2026. The company repurchased 50,338 common shares during the second quarter of 2025 at a cost of $1.85 million.

Total non-performing assets as of June 30, 2026, declined to $17.15 million, compared to $19.11 million as of June 30, 2025.

Non-performing loans to total loans decreased to 0.70%, a 0.09% reduction when compared with the same quarter of 2025. The Company experienced net charge-offs for the second quarter of 2026 of $1.3 million, or 0.21%, of annualized average loans, compared to net charge-offs of $472 thousand, or 0.08%, of annualized average loans for the same period in 2025. Significant recoveries, in the amount of $1.04 million were received in the second quarter of 2025 driving the year over year variance.

The allowance for credit losses increased $2.04 million in the second quarter of 2026 compared to December 31, 2025, primarily driven by the $3.21 million impact of the Hometown transaction. The allowance for credit losses to total loans was 1.33% on June 30, 2026, compared to 1.33% on December 31, 2025, and 1.40% on June 30, 2025.

Book value per share on June 30, 2026, was $ 28.52, an increase of $1.22, or 4.47%, from year-end 2025.

Non-GAAP Financial Measures

In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this news release include “tangible book value per common share,” “return on average tangible common equity,” “adjusted earnings,” “adjusted diluted earnings per share,” “adjusted return on average assets,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” and certain financial measures presented on a fully taxable equivalent (“FTE”) basis. FTE basis is calculated using the federal statutory income tax rate of 21%. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as a reconciliation to that comparable GAAP financial measure can be found in the attached tables to this press release. While the Company believes certain non-GAAP financial measures enhance the understanding of its business and performance, they are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions.

About First Community Bankshares, Inc.

First Community Bankshares, Inc., a financial holding company headquartered in Bluefield, Virginia, provides banking products and services through its wholly owned subsidiary First Community Bank. First Community Bank operated 61 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee as of June 30, 2026. First Community Bank offers wealth management and investment advice and services through its Trust Division and through its wholly owned subsidiary, First Community Wealth Management, which collectively managed and administered $1.83 billion in combined assets as of June 30, 2026. The Company reported consolidated assets of $3.61 billion as of June 30, 2026. The Company’s common stock is listed on the NASDAQ Global Select Market under the trading symbol, “FCBC”. Additional investor information is available on the Company’s website at www.firstcommunitybank.com.

This news release may include forward-looking statements. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may differ materially. These risks include: changes in business or other market conditions; the timely development, production and acceptance of new products and services; the challenge of managing asset/liability levels; the management of credit risk and interest rate risk; the difficulty of keeping expense growth at modest levels while increasing revenues; changes in banking laws and regulations; the degree of competition by traditional and non-traditional competitors; the impact of natural disasters, extreme weather events, military conflict , terrorism or other geopolitical events; and other risks detailed from time to time in the Company’s Securities and Exchange Commission reports including, but not limited to, the Annual Report on Form 10-K for the most recent fiscal year end. Pursuant to the Private Securities Litigation Reform Act of 1995, the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

Three Months Ended

Six Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Amounts in thousands, except share and per share data)

2026

2025

2026

2025

Interest income

Interest and fees on loans

32,638

31,722

31,232

30,805

30,637

64,360

61,306

Interest on securities

2,106

2,198

1,221

1,050

1,029

4,304

2,267

Interest on deposits in banks

4,865

3,861

3,826

3,844

3,722

8,726

6,984

Total interest income

39,609

37,781

36,279

35,699

35,388

77,390

70,557

Interest expense

Interest on deposits

4,734

4,487

3,918

4,402

4,731

9,221

9,602

Total interest expense

4,734

4,487

3,918

4,402

4,731

9,221

9,602

Net interest income

34,875

33,294

32,361

31,297

30,657

68,169

60,955

Provision for credit losses

483

378

(285

)

861

Net interest income after provision

34,392

32,916

32,325

31,297

30,942

67,308

60,919

Noninterest income

22,341

11,457

11,429

10,889

10,340

33,798

20,569

Noninterest expense

27,565

28,737

27,624

26,279

25,455

56,302

50,399

Income before income taxes

29,168

15,636

16,130

15,907

15,827

44,804

31,089

Income tax expense

6,655

3,609

3,665

3,641

3,581

10,264

7,025

Net income

22,513

12,027

12,465

12,266

12,246

34,540

24,064

Earnings per common share

Basic

1.19

0.64

0.68

0.67

1.83

1.31

Diluted

1.19

0.63

0.68

0.67

1.82

1.31

Cash dividends per common share

Regular

0.31

0.62

Special cash dividend

1.00

2.07

Weighted average shares outstanding

Basic

18,879,907

18,925,478

18,315,268

18,314,865

18,295,465

18,902,567

18,310,032

Diluted

18,979,314

19,032,945

18,390,550

18,400,289

18,400,793

18,999,498

18,427,503

Performance ratios

Return on average assets

2.49

1.39

1.53

1.95

1.51

Return on average common equity

16.90

9.29

9.63

9.58

9.84

13.15

9.67

Return on average tangible common equity(1)

24.39

13.46

13.80

13.82

14.32

19.01

14.04

(1)

A non-GAAP financial measure defined as net income divided by average stockholders' equity less average goodwill and other intangible assets.

CONDENSED CONSOLIDATED QUARTERLY NONINTEREST INCOME AND EXPENSE (Unaudited)

Three Months Ended

Six Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Amounts in thousands)

2026

2025

2026

2025

Noninterest income

Wealth management

1,399

1,299

1,181

1,371

1,222

2,698

2,384

Service charges on deposits

4,431

4,185

4,292

4,520

4,120

8,616

7,956

Other service charges and fees

4,473

3,943

4,046

3,847

3,791

8,416

7,131

(Loss) gain on sale of securities

210

)

208

Other operating income(1)

11,828

2,032

1,911

1,151

1,207

13,860

3,098

Total noninterest income

22,341

11,457

11,429

10,889

10,340

33,798

20,569

Noninterest expense

Salaries and employee benefits

15,127

14,367

14,398

14,351

14,349

29,494

27,684

Occupancy expense

1,529

1,666

1,306

1,508

1,290

3,195

2,866

Furniture and equipment expense

1,576

1,573

1,484

1,502

1,587

3,149

3,162

Service fees

2,858

2,789

2,648

2,728

2,475

5,647

4,959

Advertising and public relations

922

873

923

939

1,154

1,795

2,209

Professional fees

324

238

240

293

360

562

732

Amortization of intangibles

841

846

433

526

1,687

1,050

FDIC premiums and assessments

408

415

360

362

361

823

723

Merger expense

2,310

2,125

787

2,310

Other operating expense

3,980

3,660

3,707

3,376

3,353

7,640

7,014

Total noninterest expense

27,565

28,737

27,624

26,279

25,455

56,302

50,399

(1)

includes other operating income and expense items, such as the gain from the sale of Bearing Insurance.

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EARNINGS (Unaudited)

Three Months Ended

Six Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Amounts in thousands, except per share data)

2026

2025

2026

2025

Adjusted Net Income for diluted earnings per share

22,513

12,027

12,465

12,266

12,246

34,540

24,064

Non-GAAP adjustments:

(Gain) loss on sale of securities

(210

)

(208

)

Merger expense

2,310

2,125

787

2,310

Gain on divestiture

(10,384

)

(10,384

)

Other items (1)

(77

)

(216

)

(293

)

Total adjustments

(10,671

)

2,096

2,125

787

(8,575

)

Tax effect

(2,543

)

457

434

152

(2,086

)

Adjusted earnings, non-GAAP

14,385

13,666

14,156

12,901

12,246

28,051

24,064

Adjusted diluted earnings per common share, non-GAAP

0.76

0.72

0.77

0.70

0.67

1.48

1.31

Performance ratios, non-GAAP

Adjusted return on average assets

1.59

1.58

1.74

1.60

1.53

1.58

1.51

Adjusted return on average common equity

10.80

10.56

10.94

10.08

9.84

10.68

9.67

Adjusted return on average tangible common equity (2)

15.58

15.30

15.67

14.53

14.32

15.44

14.04

(1)

Includes other non-recurring income and expense items, such as BOLI proceeds.

(2)

A non-GAAP financial measure defined as adjusted earnings divided by average stockholders' equity less average goodwill and other intangible assets.

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)

Three Months Ended June 30,

2026

2025

Average

Average Yield/

Average

Average Yield/

(Amounts in thousands)

Balance

Interest (1)

Rate (1)

Balance

Interest (1)

Rate (1)

Assets

Earning assets

Loans(2)(3)

2,459,135

32,795

5.35

2,364,362

30,731

5.21

Securities available for sale

243,177

2,118

3.49

128,457

1,053

3.29

Interest-bearing deposits

506,561

4,866

3.85

333,872

3,722

4.47

Total earning assets

3,208,873

39,779

4.97

2,826,691

35,506

5.04

Other assets

417,245

377,879

Total assets

3,626,118

3,204,570

Liabilities and stockholders' equity

Interest-bearing deposits

Demand deposits

835,345

570

0.27

657,888

177

0.11

Savings deposits

1,027,941

3,260

1.27

895,024

3,322

1.49

Time deposits

212,504

891

1.68

228,485

1,232

2.16

Total interest-bearing deposits

2,075,790

4,721

0.91

1,781,397

4,731

1.07

Borrowings

Federal funds purchased

Retail repurchase agreements

2,992

1.72

1,293

0.07

Total borrowings

2,992

1.72

1,293

0.07

Total interest-bearing liabilities

2,078,782

4,734

0.91

1,782,690

4,731

1.06

Noninterest-bearing demand deposits

958,302

877,346

Other liabilities

54,601

45,310

Total liabilities

3,091,685

2,705,346

Stockholders' equity

534,433

499,224

Total liabilities and stockholders' equity

3,626,118

3,204,570

Net interest income, FTE(1)

35,045

30,775

Net interest rate spread

4.06

3.97

Net interest margin, FTE(1)

4.38

4.37

(1)

Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2)

Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3)

Interest on loans includes non-cash and accelerated purchase accounting accretion of $372 thousand and $430 thousand for the three months ended June 30, 2026,and 2025, respectively.

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)

Six Months Ended June 30,

2026

2025

Average

Average Yield/

Average

Average Yield/

(Amounts in thousands)

Balance

Interest(1)

Rate(1)

Balance

Interest(1)

Rate(1)

Assets

Earning assets

Loans(2)(3)

2,446,811

64,650

5.33

2,379,630

61,488

5.21

Securities available for sale

250,856

4,341

3.49

138,804

2,314

3.36

Interest-bearing deposits

458,716

8,731

3.84

315,011

6,984

4.47

Total earning assets

3,156,383

77,722

4.97

2,833,445

70,786

5.04

Other assets

415,245

375,846

Total assets

3,571,628

3,209,291

Liabilities and stockholders' equity

Interest-bearing deposits

Demand deposits

807,894

987

0.25

658,268

357

0.11

Savings deposits

1,012,667

6,356

1.27

893,096

6,633

1.50

Time deposits

214,287

1,856

1.75

233,343

2,612

2.26

Total interest-bearing deposits

2,034,848

9,199

0.91

1,784,707

9,602

1.09

Borrowings

Federal funds purchased

Retail repurchase agreements

2,780

1.59

1,183

0.06

Total borrowings

2,780

1.59

1,183

0.06

Total interest-bearing liabilities

2,037,628

9,221

0.91

1,785,890

9,602

1.08

Noninterest-bearing demand deposits

945,763

868,714

Other liabilities

58,531

52,698

Total liabilities

3,041,922

2,707,302

Stockholders' equity

529,706

501,989

Total liabilities and stockholders' equity

3,571,628

3,209,291

Net interest income, FTE(1)

68,501

61,184

Net interest rate spread

4.05

3.96

Net interest margin, FTE(1)

4.38

4.35

(1)

Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2)

Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3)

Interest on loans includes non-cash and accelerated purchase accounting accretion of $861 thousand and $986 thousand for the six months ended June 30, 2026,and 2025, respectively.

CONDENSED CONSOLIDATED QUARTERLY BALANCE SHEETS (Unaudited)

June 30,

March 31,

December 31,

September 30,

June 30,

(Amounts in thousands, except per share data)

2026

2025

Assets

Cash and cash equivalents

591,913

600,299

512,240

427,705

395,057

Debt securities available for sale, at fair value

239,050

267,522

132,688

131,314

132,535

Loans held for investment, net of unearned income

2,459,746

2,456,029

2,314,755

2,331,305

2,353,277

Allowance for credit losses

(32,654

)

(33,543

)

(30,761

)

(31,597

)

(33,020

)

Loans held for investment, net

2,427,092

2,422,486

2,283,994

2,299,708

2,320,257

Premises and equipment, net

50,161

50,204

47,560

47,522

48,023

Other real estate owned

264

455

Interest receivable

9,344

9,856

8,720

9,121

8,787

Goodwill

145,672

143,946

Other intangible assets

18,001

18,841

11,098

11,531

11,964

Other assets

126,435

130,067

119,397

118,502

119,990

Total assets

3,607,720

3,644,947

3,259,643

3,189,613

3,181,014

Liabilities

Deposits

Noninterest-bearing

973,218

959,555

896,255

865,554

873,677

Interest-bearing

2,043,373

2,104,832

1,789,074

1,765,039

1,761,687

Total deposits

3,016,591

3,064,387

2,685,329

2,630,593

2,635,364

Securities sold under agreements to repurchase

2,924

3,181

1,214

1,429

1,016

Interest, taxes, and other liabilities

49,105

55,985

72,553

46,866

41,805

Total liabilities

3,068,620

3,123,553

2,759,096

2,678,888

2,678,185

Stockholders' equity

Common stock

18,903

18,861

18,335

18,315

18,311

Additional paid-in capital

186,291

184,684

170,358

169,569

169,358

Retained earnings

342,103

325,439

319,368

330,895

324,307

Accumulated other comprehensive loss

(8,197

)

(7,590

)

(7,514

)

(8,054

)

(9,147

)

Total stockholders' equity

539,100

521,394

500,547

510,725

502,829

Total liabilities and stockholders' equity

3,607,720

3,644,947

3,259,643

3,189,613

3,181,014

Shares outstanding at period-end

18,902,628

18,861,295

18,334,787

18,314,905

18,311,232

Book value per common share

28.52

27.64

27.30

27.89

27.46

Tangible book value per common share(1)

19.86

18.92

18.84

19.40

18.95

(1)

A non-GAAP financial measure defined as stockholders' equity less goodwill and other intangible assets, divided by shares outstanding.

SELECTED CREDIT QUALITY INFORMATION (Unaudited)

June 30,

March 31,

December 31,

September 30,

June 30,

(Amounts in thousands)

2026

2025

Allowance for Credit Losses

Balance at beginning of period:

Allowance for credit losses - loans

33,543

30,761

31,597

33,020

33,784

Allowance for credit losses - loan commitments

433

355

319

312

Total allowance for credit losses beginning of period

33,976

31,116

31,916

33,339

34,096

Adjustments to beginning balance:

Allowance for credit losses - loans - Hometown acquisition

3,213

Net Adjustments

3,213

Provision for credit losses:

Provision for (recovery of) credit losses - loans

411

300

(292

)

Provision for credit losses - loan commitments

Total provision for (recovery of) credit losses - loans and loan commitments

483

378

(285

)

Charge-offs

(1,804

)

(1,379

)

(1,527

)

(2,015

)

(1,509

)

Recoveries

504

648

691

592

1,037

Net charge-offs

(1,300

)

(731

)

(836

)

(1,423

)

(472

)

Balance at end of period:

Allowance for credit losses - loans

32,654

33,543

30,761

31,597

33,020

Allowance for credit losses - loan commitments

505

433

355

319

Ending balance

33,159

33,976

31,116

31,916

33,339

Nonperforming Assets

Nonaccrual loans

16,816

17,672

13,941

16,514

18,084

Accruing loans past due 90 days or more

280

212

125

568

Total nonperforming loans

17,096

17,702

14,153

16,639

18,652

OREO

264

455

Total nonperforming assets

17,148

17,702

14,153

16,903

19,107

Additional Information

Total modified loans

3,435

2,736

2,442

2,291

2,129

Asset Quality Ratios

Nonperforming loans to total loans

0.70

0.72

0.61

0.71

0.79

Nonperforming assets to total assets

0.48

0.49

0.43

0.53

0.60

Allowance for credit losses to nonperforming loans

191.00

189.49

217.35

189.90

177.03

Allowance for credit losses to total loans

1.33

1.37

1.33

1.36

1.40

Annualized net charge-offs to average loans

0.21

0.12

0.14

0.24

0.08

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v3.26.1

Document And Entity Information

Jul. 21, 2026

Document Information [Line Items]

Entity, Registrant Name

FIRST COMMUNITY BANKSHARES, INC.

Document, Type

8-K

Document, Period End Date

Jul. 21, 2026

Entity, Incorporation, State or Country Code

Entity, File Number

000-19297

Entity, Tax Identification Number

55-0694814

Entity, Address, Address Line One

P.O. Box 989

Entity, Address, City or Town

Bluefield

Entity, Address, State or Province

Entity, Address, Postal Zip Code

24605-0989

City Area Code

276

Local Phone Number

326-9000

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false

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Common Stock

Trading Symbol

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Security Exchange Name

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