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Jun 30, 2021
First Community Bankshares Q2 2021 Earnings Report
Reported record second quarter results and increased quarterly cash dividend.
Key Takeaways
First Community Bankshares, Inc. reported a strong second quarter with net income of $13.40 million, or $0.76 per diluted common share, representing a significant increase over the same quarter of the previous year. The company also increased its quarterly cash dividend to $0.27 per common share.
Net income for the quarter increased by $5.17 million to $13.40 million compared to Q2 2020, which includes a reversal of $2.23 million in allowance for credit losses.
Diluted earnings per share increased by $0.30 to $0.76 compared to the same quarter of 2020.
Non-interest income for the second quarter of 2021 increased by $1.88 million, or 27.25%, compared to the prior year.
Total COVID-19 loan deferrals decreased significantly to $4.02 million from a peak of $436.11 million at June 30, 2020.
First Community Bankshares
First Community Bankshares
Forward Guidance
The company did not provide forward guidance in the earnings report.