First Community Bankshares, Inc. Announces Third Quarter 2025 Results and Quarterly Cash Dividend

Core Viewpoint - First Community Bankshares, Inc. reported a net income of $12.27 million for Q3 2025, reflecting a decrease from the same quarter in 2024, while also announcing a quarterly cash dividend of $0.31 per share, marking 40 consecutive years of regular dividends [1][2]. Financial Performance - Net income for Q3 2025 was $12.27 million, down $768 thousand or 5.89% from Q3 2024. For the first nine months of 2025, net income was $36.33 million, a decrease of $2.24 million or 5.80% from the same period in 2024 [6]. - Adjusted net income, accounting for merger and non-recurring expenses, was $12.90 million, an increase of $495 thousand or 4.00% from Q3 2024 [6]. - Net interest margin for Q3 2025 was 4.43%, up 2 basis points from Q3 2024 [6]. - Noninterest income increased by approximately $437 thousand or 4.18% compared to Q3 2024, driven by higher service charges and wealth management fees [6]. Balance Sheet and Asset Quality - Consolidated assets totaled $3.19 billion as of September 30, 2025, with a decrease in consolidated loan balances of $84.78 million or 3.51% since December 31, 2024 [6]. - Total non-performing assets decreased to $16.90 million from $20.54 million as of December 31, 2024, indicating a positive trend in asset quality [6]. - The allowance for credit losses to total loans was 1.36% on September 30, 2025, down from 1.44% at year-end 2024 [6]. Dividends and Share Repurchase - The company declared a quarterly cash dividend of $0.31 per share, payable on November 28, 2025, marking the 40th consecutive year of regular dividends [2]. - In 2025, the company repurchased 50,338 shares at a total cost of $1.85 million, compared to 12,854 shares for $469 thousand in Q3 2024 [6]. Non-GAAP Financial Measures - The company utilizes non-GAAP financial measures to provide additional insights into its financial performance, including adjusted earnings and return on average tangible common equity [7].