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Dec 31, 2020
First Community Bankshares Q4 2020 Earnings Report
Reported an increase in net income and declared a quarterly cash dividend and stock repurchase plan.
Key Takeaways
First Community Bankshares, Inc. reported net income of $11.55 million, or $0.65 per diluted common share, for the quarter ended December 31, 2020, which was an increase of $0.04, or 6.56%, over the same quarter of 2019. The Company also declared a quarterly cash dividend to common shareholders of twenty-five cents ($0.25) per common share and authorized the repurchase of up to 2.4 million shares of the Company's outstanding common stock.
Net income increased by 6.56% compared to the same quarter of 2019.
Booked $63.56 million of new residential mortgage loans during the fourth quarter.
Commercial and consumer COVID-19 loan deferrals decreased significantly from $436.11 million at June 30, 2020, to $26.54 million and $5.72 million, respectively, as of December 31, 2020.
Return on average assets remained strong at 1.54% for the fourth quarter.
First Community Bankshares
First Community Bankshares
Forward Guidance
This news release may include forward-looking statements that are based on current expectations and involve risks, uncertainties, and assumptions.