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Sep 30, 2022
First Community Bankshares Q3 2022 Earnings Report
Reported an increase in net income and declared a quarterly cash dividend.
Key Takeaways
First Community Bankshares, Inc. reported a net income of $13.35 million, or $0.81 per diluted common share, for the quarter ended September 30, 2022. The company also declared a quarterly cash dividend of $0.29 per common share, marking the 37th consecutive year of regular dividends to common shareholders.
Net income for the quarter was $13.35 million, an increase of $743 thousand compared to the same quarter of 2021.
Net interest income increased by $4.2 million compared to the same quarter of 2021.
The company completed the sale of First Community Bank’s Emporia, Virginia branch to Benchmark Community Bank, realizing a gain of $1.66 million.
During the third quarter, the company repurchased 235,400 of its common shares for $7.38 million.