Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE: FOR MORE INFORMATION, CONTACT: July 22, 2025 David D. Brown (276) 326-9000 First Community Bankshares, Inc. Announces Second Quarter 2025 Results and Quarterly Cash Dividend Bluefield, Virginia – First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the "Company") today reported its unaudited results of operations and other financial information for the quarter ended June 30, 2025. The Company reported net income of $12.25 million, or ...

BLUEFIELD, Va., July 22, 2025 (GLOBE NEWSWIRE) -- First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the “Company”) today reported its unaudited results of operations and other financial information for the quarter ended June 30, 2025. The Company reported net income of $12.25 million, or $0.67 per diluted common share, for the quarter ended June 30, 2025. Net income for the six months ended June 30, 2025, was $24.06 million or $1.31 per diluted common share. The Company also decl ...

BLUEFIELD, Va., July 21, 2025 (GLOBE NEWSWIRE) -- First Community Bankshares, Inc. (“First Community”) (NASDAQ: FCBC), headquartered in Bluefield, VA, and Hometown Bancshares, Inc. (“Hometown”), headquartered in Middlebourne, WV, jointly announced today their entry into an Agreement and Plan of Merger (the “Agreement”). Pursuant to this Agreement, First Community will acquire Hometown, and First Community’s banking subsidiary, First Community Bank, will acquire Hometown’s banking subsidiary, Union Bank, Inc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-19297 FIRST COMMUNITY BANKSHARES, INC. (Exact name of registrant as specified in its charter) Virginia 55-0694814 (State or other jurisdiction of incorpor ...

Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE: FOR MORE INFORMATION, CONTACT: April 22, 2025 David D. Brown (276) 326-9000 First Community Bankshares, Inc. Announces First Quarter 2025 Results and Quarterly Cash Dividend Bluefield, Virginia – First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the "Company") today reported its unaudited results of operations and other financial information for the quarter ended March 31, 2025. The Company reported net income of $11.82 million, or ...

BLUEFIELD, Va., April 22, 2025 (GLOBE NEWSWIRE) -- First Community Bankshares, Inc. (NASDAQ:FCBC) (www.firstcommunitybank.com) (the "Company") today reported its unaudited results of operations and other financial information for the quarter ended March 31, 2025. The Company reported net income of $11.82 million, or $0.64 per diluted common share, for the quarter ended March 31, 2025.   The Company also declared a quarterly cash dividend to common shareholders of thirty-one cents, $0.31 per common share. Th ...

Financial Performance - Net income for 2024 was $51.60 million, an increase of 7.46% compared to $48.02 million in 2023[152]. - Basic earnings per common share rose to $2.81 in 2024, up 5.24% from $2.67 in 2023[152]. - Annual net income was $51.60 million, or $2.80 per diluted common share, an increase of $3.58 million, or 7.46%, compared to 2023[154]. - Annualized return on average assets (ROA) was 1.60% for 2024, compared to 1.48% for 2023; annualized return on average common equity (ROE) was 10.03% for 2024, compared to 10.02% for 2023[154]. - Net income for 2023 was $51,604,000, a 5.5% increase from $48,020,000 in 2022[231]. - Earnings per common share (basic) for 2023 was $2.81, compared to $2.67 in 2022, reflecting a 5.2% increase[228]. Income and Expenses - Net interest income for 2024 totaled $126.47 million, a decrease of 0.95% from $127.68 million in 2023[152]. - Non-interest income increased by 5.17% to $39.47 million in 2024, compared to $37.53 million in 2023[152]. - Non-interest expense increased by 1.46% to $96.66 million in 2024, compared to $95.27 million in 2023[152]. - Total noninterest expense increased to $96,567,000 in 2023, up from $95,177,000 in 2022, representing a 1.5% rise[228]. - The provision for credit losses decreased to $3,597 thousand in 2023 from $7,985 thousand in 2022, a reduction of approximately 55%[237]. Credit Losses and Allowances - Provision for credit losses decreased by 54.95% to $3.60 million in 2024, down from $7.99 million in 2023[152]. - The allowance for credit losses to total loans was 1.44% at December 31, 2024, compared to 1.41% for the same period of 2023[154]. - The allowance for credit losses (ACL) is reviewed quarterly to ensure it is sufficient to absorb expected credit losses, with significant estimates and assumptions involved[267]. - The ACL is calculated using collectively evaluated and individually evaluated loans, reflecting management's best estimate of expected credit losses[269]. Asset and Loan Portfolio - Total assets decreased by $7.33 million, or 0.22%, to $3.26 billion as of December 31, 2024, with loans decreasing by $156.21 million, or 6.07%[176]. - Total loans held for investment decreased by $156.21 million, or 6.07%, as of December 31, 2024, compared to December 31, 2023[181]. - Loans held for investment decreased to $2.416 billion in 2024 from $2.572 billion in 2023, indicating a contraction in the loan portfolio[225]. - The total loans portfolio was $2.42 billion as of December 31, 2024[183]. - Commercial loans represented 65.46% of total loans as of December 31, 2024, compared to 64.59% in 2023[334]. Capital and Equity - Total stockholders' equity increased by $23.10 million, or 4.59%, to $526.39 million as of December 31, 2024, primarily due to earnings of $51.60 million offset by dividends of $22.02 million[213]. - The common equity Tier 1 ratio improved to 16.75% as of December 31, 2024, compared to 14.69% in 2023, indicating strong capital adequacy[214]. - The total risk-based capital ratio rose to 18.00% in 2024 from 15.94% in 2023, reflecting enhanced capital strength[214]. Acquisitions and Goodwill - The acquisition of Surrey Bancorp added $466.25 million in total assets and resulted in $14.38 million in goodwill[140]. - Goodwill recognized from the Surrey acquisition amounted to $14.38 million, with core deposit intangibles totaling $12.70 million[311]. - The Company incurred $2.99 million in merger expenses related to the Surrey transaction, with $2.39 million recorded in the first nine months of 2023[310]. Market and Securities - The fair value of available-for-sale debt securities as of December 31, 2024, was $169.85 million, with an amortized cost of $184.69 million[320]. - There were 103 individual debt securities in an unrealized loss position as of December 31, 2024, representing 8.74% of the debt securities portfolio[323]. - The total amortized cost of available-for-sale U.S. Treasury securities was $55.76 million, with no credit losses attributed to them as of December 31, 2024[326]. Liquidity and Cash Flow - As of December 31, 2024, the company's cash reserves totaled $3.95 million and short-term investment securities amounted to $55.77 million, providing adequate working capital for the next twelve months[210]. - The net loss on the sale of OREO properties was $28 thousand in 2024, compared to $84 thousand in 2023 and $453 thousand in 2022[193]. - Cash and cash equivalents at the end of the period increased significantly to $377,454 thousand from $116,420 thousand in 2022, marking a rise of 224%[237].

Financial Performance - Net income for Q4 2024 was $13.04 million, a 10.65% increase from Q4 2023, while annual net income reached $51.60 million, up 7.46% year-over-year[6]. - Net income for Q4 2024 reached $13,040,000, compared to $13,033,000 in Q3 2024 and $11,784,000 in Q4 2023, reflecting a year-over-year increase of 10.7%[14]. - Adjusted net income for diluted earnings per share for Q4 2024 was $13,040,000, compared to $12,314,000 in Q4 2023, representing a 5.9% increase[17]. - The company reported a total of $52,345,000 in adjusted earnings for the year ended December 31, 2024, compared to $54,741,000 in 2023, marking a decrease of 4.4%[17]. Dividends and Shareholder Returns - The company declared a quarterly cash dividend of $0.31 per share and a special cash dividend of $2.07 per share, marking the 40th consecutive year of regular dividends[3][4]. - Cash dividends per common share for the year were $1.20, an increase from $1.16 in the previous year[14]. - The company plans to return excess earnings to shareholders through regular cash dividends and stock repurchases as part of its capital management strategy[5]. - The company repurchased 257,294 common shares during 2024 at a total cost of $8.72 million[9]. Asset and Liability Management - Total consolidated assets were $3.26 billion as of December 31, 2024, with a significant increase in cash and cash equivalents by 224.22% to $261.03 million[9][11]. - Total liabilities for the year ended December 31, 2024, were $2,718,938,000, with stockholders' equity of $514,385,000[23]. - Total assets increased to $3,261,216 thousand as of December 31, 2024, compared to $3,268,545 thousand a year earlier, reflecting a decrease of 0.2%[25]. - Total deposits rose to $2,691,247 thousand, up from $2,722,325 thousand a year ago, representing a decrease of 1.1%[25]. Loan and Credit Quality - Loans decreased by $156.21 million, or 6.07%, and securities available for sale decreased by $111.12 million, or 39.55%, compared to December 31, 2023[9]. - Non-performing loans to total loans increased to 0.83% compared to the same quarter of 2023, with net charge-offs of $1.48 million for Q4 2024[9]. - The allowance for credit losses to total loans was 1.44% at December 31, 2024, up from 1.41% at the end of 2023[13]. - The allowance for credit losses on loans was $34,825 thousand at the end of December 2024, down from $36,189 thousand a year earlier, a reduction of 3.8%[27]. - Nonperforming loans increased slightly to $20,153 thousand from $19,460 thousand year-over-year, an increase of 3.5%[27]. - The ratio of nonperforming loans to total loans was 0.83% as of December 31, 2024, compared to 0.76% a year earlier, indicating a deterioration in asset quality[27]. - The annualized net charge-offs to average loans was 0.24% for the quarter, compared to 0.14% a year earlier, indicating a rise in charge-off rates[27]. - The company reported a total allowance for credit losses to nonperforming loans ratio of 172.80% as of December 31, 2024, down from 185.97% a year earlier, suggesting a decrease in coverage for nonperforming loans[27]. Income and Expense Management - Total interest income for Q4 2024 was $36,432,000, a slight decrease from $36,892,000 in Q3 2024, but an increase from $36,002,000 in Q4 2023[14]. - Noninterest income totaled $10,337,000 in Q4 2024, slightly down from $10,452,000 in Q3 2024, but up from $9,342,000 in Q4 2023[15]. - Total noninterest expense for Q4 2024 was $24,107,000, compared to $24,177,000 in Q3 2024 and $26,780,000 in Q4 2023, indicating improved cost management[16]. - The provision for credit losses in Q4 2024 was $1,082,000, a decrease from $1,360,000 in Q3 2024 and significantly lower than $1,029,000 in Q4 2023[14]. - The company incurred litigation expenses of $1,800,000 in Q4 2024, which impacted the overall adjusted earnings[17]. Shareholder Equity and Book Value - Book value per share increased to $28.73, reflecting a $1.53 increase from year-end 2023[13]. - The book value per common share increased to $28.73 from $27.20 year-over-year, reflecting a growth of 5.6%[25]. - The total stockholders' equity rose to $526,392 thousand, up from $503,294 thousand a year earlier, an increase of 4.6%[25]. Interest Rates and Margins - The net interest rate spread for Q4 2024 was 3.94%, slightly down from 4.09% in Q4 2023[20]. - The average balance of interest-bearing deposits for Q4 2024 was $1,792,818,000, with a total interest expense of $5,098,000, resulting in an interest rate of 1.13%[20]. - The company’s net interest income after provision for credit losses was $30,251,000 in Q4 2024, slightly down from $30,234,000 in Q3 2024 but up from $31,034,000 in Q4 2023[14]. - Total earning assets for Q4 2024 were $2,866,703,000, with a net interest income of $31,443,000, resulting in a net interest margin of 4.36%[20]. - The average balance of loans for the year ended December 31, 2024, was $2,481,215,000, generating interest income of $130,196,000 at a yield of 5.25%[23].

Core Viewpoint - First Community Bankshares, Inc. reported a net income of $13.04 million for Q4 2024, marking a 10.65% increase from the same quarter in 2023, and a total net income of $51.60 million for the year, up 7.46% from 2023 [1][6]. Financial Performance - The company declared a quarterly cash dividend of $0.31 per common share and a special cash dividend of $2.07 per common share, marking the 40th consecutive year of regular dividends [2][3]. - Net interest income decreased by $730 thousand compared to Q4 2023, primarily due to increased rates on interest-bearing deposits [6]. - Noninterest income decreased by approximately $125 thousand, or 1.19%, compared to the same quarter in 2023 [6]. - Noninterest expense decreased by $2.67 million, or 9.98%, compared to the same period in 2023, largely due to a litigation expense recorded in Q4 2023 [6]. Capital Management - The company has maintained a strong capital base, returning earnings not needed for growth through regular cash dividends and stock repurchases [3]. - Over the last four years, the company earned approximately $197.45 million, paying regular dividends of $79.68 million and repurchasing shares for $81.95 million [3]. - The Board of Directors confirmed sufficient surplus capital to support anticipated growth opportunities after the special dividend payment of approximately $37.92 million [3]. Asset Quality - Consolidated assets totaled $3.26 billion as of December 31, 2024, with loans decreasing by $156.21 million, or 6.07%, from December 31, 2023 [6][12]. - Non-performing loans to total loans increased to 0.83% compared to the same quarter in 2023, with net charge-offs for Q4 2024 at $1.48 million, or 0.24% of annualized average loans [6]. - The allowance for credit losses to total loans was 1.44% at December 31, 2024, compared to 1.41% at December 31, 2023 [12]. Stock Performance - The book value per share at December 31, 2024, was $28.73, an increase of $1.53 from year-end 2023 [12][23]. - The company did not repurchase any common shares during Q4 2024 but repurchased 257,294 common shares during 2024 at a total cost of $8.72 million [6].

Financial Performance - Net income for Q3 2024 was $13.03 million, a decrease of $1.61 million, or 10.98%, compared to Q3 2023[129] - Net income for the three months ended September 30, 2024, was $13,033,000, a decrease of 11% from $14,640,000 in the same period of 2023[13] - For the nine months ended September 30, 2024, net income was $38,564,000, compared to $36,236,000 for the same period in 2023, showing an increase of about 6.4%[17] - Basic earnings per share for the three months ended September 30, 2024, was $0.71, down from $0.78 in the same period of 2023[90] - Total comprehensive income for the three months ended September 30, 2024, was $17,038,000, compared to $11,657,000 in the prior year, an increase of 46.2%[14] Income and Expenses - Net interest income decreased by $1.75 million compared to the same quarter in 2023, primarily due to increased rates on interest-bearing deposits[129] - Noninterest income increased by approximately $830 thousand, or 8.63%, compared to Q3 2023, including a gain of $825 thousand from the sale of two closed branch properties[129] - Total noninterest expense increased to $24,177,000, up from $22,913,000, representing a rise of 5.5% year-over-year[13] - Noninterest expense increased by $1.26 million, or 5.52%, in Q3 2024 compared to Q3 2023, primarily due to increases in other operating expenses and salaries[154] Assets and Liabilities - Consolidated assets totaled $3.22 billion as of September 30, 2024[129] - Total assets as of September 30, 2024, were $3,228,976 thousand, a decrease from $3,248,251 thousand in the previous year[138] - Total liabilities and stockholders' equity of $3,224,361,000 as of September 30, 2024, down from $3,268,545,000 at the end of 2023, a decrease of 1.3%[12] - Total deposits as of September 30, 2024, decreased by $63.07 million, or 2.32%, with the largest decreases in noninterest-bearing demand deposits of $62.20 million, or 6.67%[183] Loans and Credit Quality - Loans decreased by $128.19 million, or 4.98%, from December 31, 2023[129] - Non-performing loans to total loans increased to 0.82% compared to the same quarter of 2023[129] - The allowance for credit losses to total loans was 1.44% at September 30, 2024, compared to 1.39% for September 30, 2023[129] - The provision for credit losses for loans was $1.36 million in Q3 2024, compared to $1.32 million in Q3 2023, reflecting an increase of $251 thousand[149] Equity and Capital Ratios - Stockholders' equity increased to $510,973 thousand as of September 30, 2024, compared to $472,774 thousand in 2023[138] - Total stockholders' equity increased to $520,694,000 as of September 30, 2024, compared to $503,294,000 at the end of 2023, reflecting a growth of 3.4%[12] - Common equity Tier 1 ratio improved to 13.76% as of September 30, 2024, up from 12.97% as of December 31, 2023[191] - Total risk-based capital ratio increased to 15.02% as of September 30, 2024, compared to 14.22% as of December 31, 2023[191] Shareholder Actions - The Company repurchased 12,854 common shares during Q3 2024 at a total cost of $469 thousand[129] - Common dividends declared increased from $0.29 per share in Q3 2023 to $0.31 per share in Q3 2024, representing a growth of about 6.9%[16] Market and Economic Conditions - The Federal Open Market Committee set the benchmark federal funds rate to a range of 475 to 500 basis points as of September 30, 2024[196] - The sensitivity of net interest income to a 200 basis point increase in interest rates is projected to be $1.415 million, representing a 1.1% change as of September 30, 2024[196] Acquisitions and Investments - The company completed the Surrey acquisition, adding approximately $68,357,000 to the common stock outstanding[17] - The total purchase price for the acquisition of Surrey Bancorp was $71.37 million, with 2,996,786 shares of common stock issued at a price of $23.81 per share[30][35] Risk Management - The company continues to monitor loan performance closely, particularly in the commercial and industrial sectors, which showed the highest write-offs[59] - Future strategies may involve enhancing risk management practices to mitigate potential losses in the loan portfolio[59]