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Dec 31, 2019
First Community Bankshares Q4 2019 Earnings Report
Reported net income of $9.56 million, or $0.61 per diluted common share, for the quarter ended December 31, 2019.
Key Takeaways
First Community Bankshares, Inc. reported net income of $9.56 million, or $0.61 per diluted common share, for the quarter ended December 31, 2019. The Company closed the acquisition of Highlands Bankshares, Inc. which increased total consolidated assets to $2.80 billion.
Diluted earnings per share increased $0.04 to $0.61 compared to the same quarter of 2018, an increase of 7.02%.
Return on average assets for the quarter increased 0.08% to 1.71% and return on average equity for the quarter increased 0.07% to 11.08% compared to the same quarter last year.
Net interest margin decreased 29 basis points to 4.47% compared to the same quarter of 2018.
The Company received $2.40 million from litigation settlements during the fourth quarter and incurred $940 thousand in merger expenses related to the Highlands Bankshares, Inc. acquisition.