First Community Bankshares FCBC

First Community Bankshares, Inc. is a financial holding company headquartered in Bluefield, Virginia, that conducts its banking operations through its wholly owned subsidiary First Community Bank, a Virginia‑chartered banking institution. As of September 30, 2025, the Bank operated 52 branches across Virginia, West Virginia, North Carolina and Tennessee and employed 586 full‑time equivalent staff. The Company’s core activities consist of gathering deposits, extending loans to retail and commercial customers, investing in securities, and providing trust, wealth management and insurance services to its clientele.

The Company generates revenue principally from net interest income, which represents the difference between interest earned on interest‑earning assets—such as loans, securities and interest‑bearing deposits—and interest paid on interest‑bearing liabilities, including deposits and borrowings. This core interest stream is supplemented by noninterest income derived from fees for services, commissions on sales, and various deposit service charges. The Trust Division and First Community Wealth Management Inc. produce investment advisory fees and commissions based on assets under management, which totaled $1.75 billion under fee‑based arrangements as of September 30, 2025. Additionally, the Bank earns commissions through its strategic partnership with Bankers Insurance, LLC, which offers a full range of commercial and personal insurance products to customers.

The company operates through the following segments: Community Banking, Trust and Wealth Management, and Insurance.

• Community Banking: This segment encompasses traditional banking activities, including deposit gathering, commercial and consumer lending, and securities investment. As of September 30, 2025, the total loan portfolio amounted to $2.33 billion, with commercial loans representing 66.20% of the portfolio, consumer real estate loans 30.91%, and consumer and other loans 2.89%. The segment also includes the branch network that delivers retail and commercial banking services across 52 locations in the four‑state footprint.
• Trust and Wealth Management: This segment provides trust administration, estate planning, investment advisory, and retirement plan services through the Trust Division and the wholly owned subsidiary First Community Wealth Management Inc. It managed and administered $1.75 billion in assets under various fee‑based arrangements as of September 30, 2025, generating revenue from investment advisory fees and commissions tied to the size, nature and complexity of client accounts.
• Insurance: This segment offers a full range of commercial and personal insurance products via a strategic partnership with Bankers Insurance, LLC. The Bank receives commissions from the placement of these policies, which contribute to noninterest income and diversify the Company’s revenue stream beyond traditional banking and wealth‑management fees.

First Community Bankshares operates within the competitive regional banking industry of the Mid‑Atlantic and Southeastern United States, where it contends with larger national banks, other regional banking organizations and numerous community banks. Its competitive advantages stem from a deep local branch network, long‑standing customer relationships, diversified earnings from banking, wealth management and insurance, and a strong capital position, with a common equity tier 1 ratio of 16.47% as of September 30, 2025, which exceeds regulatory minimums and supports a well‑capitalized status.

The Company serves a broad mix of individuals, families, small and medium‑sized businesses, agricultural operations and nonprofit organizations across its four‑state market area. Its customer base includes retail depositors seeking checking, savings and certificate of deposit products, commercial borrowers requiring lines of credit, term loans and real estate financing, trust and wealth management clients looking for investment advisory and fiduciary services, and policyholders purchasing commercial and personal insurance through the Bank’s partnership with Bankers Insurance, LLC.