First Community Bankshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 25, 2023 at 04:30 pm EDT
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First Community Bankshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 32.86 million compared to USD 27.55 million a year ago. Net income was USD 9.81 million compared to USD 11.21 million a year ago. Basic earnings per share from continuing operations was USD 0.53 compared to USD 0.67 a year ago.
For the six months, net interest income was USD 62.27 million compared to USD 52.7 million a year ago. Net income was USD 21.6 million compared to USD 20.73 million a year ago. Basic earnings per share from continuing operations was USD 1.25 compared to USD 1.24 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.