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First Community Bankshares Q1 2025 Earnings Report
First Community Bankshares, Inc. reported its unaudited results of operations and other financial information for the quarter ended March 31, 2025.
Key Takeaways
First Community Bankshares, Inc. reported net income of $11.82 million for the first quarter of 2025, with diluted earnings per common share of $0.64. The company also declared a quarterly cash dividend of $0.31 per common share. Total assets stood at $3.23 billion.
Net income for Q1 2025 was $11.82 million, or $0.64 per diluted common share.
A quarterly cash dividend of $0.31 per common share was declared, marking the 40th consecutive year of regular dividends.
Net interest margin for Q1 2025 was 4.34%, with a decrease in interest income primarily due to lower average balances for loans and securities.
Noninterest income increased by 10.48% compared to the same quarter in 2024, driven by higher service charges on deposits and other operating income.
First Community Bankshares
First Community Bankshares
First Community Bankshares Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.comService Charges on Deposits Revenue
CapyFin.comOther Service Charges and Fees Revenue
CapyFin.comOther Operating Income Revenue
CapyFin.com Forward Guidance
The news release includes forward-looking statements based on current expectations, involving risks, uncertainties, and assumptions that could cause actual results to differ materially. The Company does not undertake to update these statements.
Positive Outlook
- The Company has a long history of regular dividend payments, marking 40 consecutive years.
- Noninterest income showed a significant increase, driven by service charges on deposits and other operating income.
- The Company continues to manage a substantial portfolio of wealth management and investment assets.
- The Company maintains a strong presence with 53 branch banking locations across multiple states.
- The Company's common stock is listed on the NASDAQ Global Select Market, providing market visibility.
Challenges Ahead
- Interest income decreased due to lower average balances for loans and securities.
- Interest expense on interest-bearing liabilities increased, primarily due to an increase in yield.
- Loans and securities available for sale decreased from the previous quarter.
- Stockholder equity decreased due to the payment of a special cash dividend.
- Non-performing loans to total loans increased compared to the same quarter in the prior year.