First Community Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 24, 2023 at 09:15 pm
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First Community Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 33.35 million compared to USD 29.34 million a year ago. Net income was USD 14.64 million compared to USD 13.35 million a year ago. Basic earnings per share from continuing operations was USD 0.78 compared to USD 0.82 a year ago.
For the nine months, net interest income was USD 95.62 million compared to USD 82.04 million a year ago. Net income was USD 36.24 million compared to USD 34.08 million a year ago. Basic earnings per share from continuing operations was USD 2.03 compared to USD 2.05 a year ago.
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.