ex_718743.htm

EX-99.1 2 ex_718743.htm EXHIBIT 99.1 ex_718743.htm

第99.1展示文本


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2024年10月22日		David D. Brown
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第一社區銀行股份公司宣佈第三季度 2024結果及季度現金股利

維吉尼亞州布盧菲爾德 - 第一社區銀行股份公司（納斯達克: FCBC）（www.firstcommunitybank.com）（以下簡稱「公司」）今天報告了截至 2024年9月30日的未經審計財務業績和其他財務信息。公司報告了淨利潤爲$13.03百萬美元的淨利潤，對應每股基本和攤薄收益分別爲 $0.71 每股攤薄，截至該季度結束 2024年9月30日淨利潤爲該公司九之額外聯邦稅項負債。2024年9月30日。38.56賺取的股份中的一部分（詳見下面的第9條說明）可能發放給持有未釋放股權的人員。儘管這些股份的支付需要基於公司普通股的成交量加權平均價格達到股價目標，但是這些人員需要完成與這些未釋放股權獎勵相關聯的剩餘服務期才有資格獲得業績股份。因此，這些未釋放的業績股份屬於股權分類獎勵，其總髮放日公允價值爲100萬美元或4美元每股。2.09每股攤薄普通股份。

公司還宣佈向普通股股東派發每股31美分的季度現金股息。0.31每股普通股。季度股息將支付給截至 2024年11月8日號股東，並預計將於 2024年11月22日左右支付。這標誌着連續第 39年向普通股股東定期支付股息。

公司正在與受颶風赫蓮（Hurricane Helene）影響的北卡羅來納州、田納西州、弗吉尼亞州和西弗吉尼亞州南部的借款人和客戶合作，應對災難性洪水、停電和斷水問題。這包括爲受影響的借款人提供還款救濟。我們將在未來幾周繼續監測與資產質量相關的情況。

第三季度 2024重點

損益表

	o	淨利潤爲$13.03對於在2023年6月30日結束的三個月，爲第三季度是同一季度的2024，較去年同季度減少了$1.61百萬，或10.98%。2023。淨利潤爲$38.56百萬美元。九2024年前8個月，相較於2023年同期增加了233萬美元，增幅爲6.42%。
	o	淨利息收益較2023年同季度減少175萬美元，主要是由於付給帶息存款利率的提高。
	o	淨利息收益率爲4.41%，較同季度下降了10個點子。2023收益資產收益率較2023年同期上升了26個點子，這歸因於利息收入增加，由於收益增加而導致。儘管貸款和可供出售證券的收益率都有所增加；但平均餘額下降了。與2023年同期相比，存款銀行帶息存款的平均餘額增加了21959萬美元；但利率與2023年同期相比沒有改變。與同期相比，帶息負債的收益率增加了58個點子 2023，這主要是由於帶息存款負債率的提高。2023非利息收入較2023年同季度增加了約83萬美元，增幅爲8.63%。
	o	。與年同季度相比，非利息收入增加約83萬美元，增幅爲8.63%。 2023第3季度非利息收入2024 included a gain of $82.5萬 from the sale of two closed branch properties; noninterest income for the same period of 2023 included a gain of $20.4萬 for the sale of a closed branch property. Noninterest expense increased $126萬, or 5.52%.
	o	Annualized return on average assets ("ROA") was 1.60%對於第三 quarter and 1.60% for the first 九本月公司沒有簽訂任何新的租賃協議。2024。我們最近收購的費用佔成本費用的1.74% 和 1.49%對應的相同期間分別爲 2023。年化普通股權益平均roe爲 10.04%，淨利潤率爲第三季度和 10.08% 第一季度九個月 2024與 11.63% 和 10.25% 相應時期 2023年化的普通股權益資本平均回報（"ROTCE"）分別爲2024年第三季度14.46%和2024年前九個月14.61%，而2023年同期分別爲17.11%和14.94%。

資產負債表和資產質量

	o	合併資產總計$3.22到2030年9月到期的債券爲100億美元，利率爲% 2024年9月30日.
	o	貸款減少了$12819萬，或4.98%，從2023年12月31日。可供出售證券減少了$11429萬，或40.68%，從 2023年12月31日。存款減少了$6307萬，或2.32%。這些資產負債表變化的淨影響導致現金及現金等價物增加了$19892萬，或170.86%。
	o	公司在2024年的這個季度回購了12,854股普通股。第三2024年前兩個月，公司以總成本46.9萬美元回購了257,294股普通股。九2024年前幾個月裏，公司以總成本8.72百萬美元回購了257,294股普通股。
	o	壞賬貸款與總貸款比例相比2023年同期上升至。0.82%當與2023年同期相比時，公司經歷了淨覈銷情況。第三四分之一的 2024美元113萬，或 0.18%年化平均貸款比淨銷賬爲146萬美元，或 0.22%，同期年化平均貸款2023.

信用損失撥備佔總貸款額 1.44%位於2024年9月30日相比之下,1.41%位於2023年12月31日，和 1.39%當PFSA有借款時，特定限制還包括200%的流動資產限制。2023年9月30日.

每股賬面價值爲 2024年9月30日，爲 $ 28.47，比年底增加了$1.27。 2023.

非依照普遍公認會計准則的財務措施

除了根據美國通用會計準則（「GAAP」）編制的基本報表，公司還使用某些非GAAP財務指標，爲財務和運營決策提供有用信息，評估趨勢，並與其他金融機構進行財務結果比較。本新聞稿中呈現的非GAAP財務指標包括「每股有形賬面價值」，「平均有形淨資產回報率」，「調整後收益」，「調整後稀釋每股收益」，「調整後資產平均回報率」，「調整後普通股權平均回報率」，「調整後有形普通股權平均回報率」，以及基於完全應稅當量（「FTE」）基礎的某些財務指標。 FTE基準根據21%的聯邦法定所得稅率計算。使用非GAAP財務指標時，在本新聞稿的附表中可以找到可比的GAAP財務指標，以及與該可比GAAP財務指標的調和。儘管公司認爲某些非GAAP財務指標有助於理解其業務和表現，但它們是補充性的，不能取代或比財務指標更重要的是，要根據GAAP編制的財務指標，可能與其他金融機構報告的指標不可比。

關於第一社區銀行股份有限公司。

First Community Bankshares, Inc. 是一家總部位於弗吉尼亞州布魯菲爾德的金融控股公司，通過其全資子公司第一社區銀行提供銀行產品和服務。第一家社區銀行運營53 截至當日，弗吉尼亞州、西弗吉尼亞州、北卡羅來納州和田納西州的分行銀行網點 2024年9月30日。第一社區銀行通過其信託部門及其全資子公司第一社區财富管理提供财富管理、投資建議和服務，後者共同管理和管理美元1.64 十億截至合併資產中 2024年9月30日。該公司報告的合併資產爲美元3.22 十億截至 2024年9月30日。該公司的普通股在納斯達克全球精選市場上市，交易代碼爲「FCBC」。更多投資者信息可在公司網站www.firstcommunitybank.com上查閱。

此新聞稿可能包含前瞻性陳述。這些前瞻性陳述基於目前的預期，涉及風險、不確定性和假設。如果其中一個或多個風險或不確定性實現，或者基礎假設被證明不正確，實際結果可能有所不同。這些風險包括：業務或其他市場條件的變化；新產品和服務的及時開發、生產和接受；管理資產/負債水平的挑戰；信貸風險和利率風險的管理；在增加收入的同時保持支出增長水平的困難；銀行法律和法規的變化；傳統和非傳統競爭對手的競爭程度；自然災害、極端天氣事件、軍事衝突、恐怖主義或其他地緣政治事件的影響；以及公司不時詳細說明的其他風險。’的證券交易委員會報告，包括但不限於，最近一個財政年度的第10-k表的年度報告。根據1995年的私人證券訴訟改革法案，公司不承諾更新前瞻性陳述以反映前瞻性陳述發表之日期之後發生的情況或事件。.

綜合收入簡明綜合損益表（未經審核）

	結束於三個月的期間															九個月結束了
	九月三十日，			6月30日，			三月三十一日，			12月31日，			九月三十日，			九月三十日，
(以千為單位，除股份和每股數據外的金額)	2024			2024			2024			2023			2023			2024			2023
利息收入
貸款的利息和費用	$	32,120		$	32,696		$	33,418		$	33,676		$	33,496		$	98,234		$	93,051
證券利息		1,070			1,211			1,698			1,888			1,912			3,979			6,068
銀行存款利息		3,702			2,882			913			438			697			7,497			2,044
利息收入總額		36,892			36,789			36,029			36,002			36,105			109,710			101,163
利息費用
存入資金的利息		5,298			4,877			4,365			3,935			2,758			14,540			5,406
借款利息		-			-			35			4			-			35			136
總利息費用		5,298			4,877			4,400			3,939			2,758			14,575			5,542
淨利息收益		31,594			31,912			31,629			32,063			33,347			95,135			95,621
信用損失準備		1,360			144			1,011			1,029			1,109			2,515			6,956
備妥後的淨利息收入		30,234			31,768			30,618			31,034			32,238			92,620			88,665
非利息收入		10,452			9,342			9,259			10,462			9,622			29,053			26,990
非利息支出		24,177			24,897			23,386			26,780			22,913			72,460			68,397
稅前收入		16,509			16,213			16,491			14,716			18,947			49,213			47,258
所得稅支出		3,476			3,527			3,646			2,932			4,307			10,649			11,022
凈利潤	$	13,033		$	12,686		$	12,845		$	11,784		$	14,640		$	38,564		$	36,236


每個普通股的盈利
基礎	$	0.71		$	0.69		$	0.70		$	0.64		$	0.78		$	2.10		$	2.03
稀釋	$	0.71		$	0.71		$	0.71		$	0.66		$	0.79		$	2.09		$	2.06
每股普通股的現金股息
Regular		0.31			0.29			0.29			0.29			0.29			0.89			0.87
加權平均流通股數
基礎		18,279,612			18,343,958			18,476,128			18,530,114			18,786,032			18,366,249			17,816,505
稀釋		18,371,907			18,409,876			18,545,910			18,575,226			18,831,836			18,432,023			17,857,494
績效比率
平均資產報酬率		1.60	%		1.58	%		1.60	%		1.43	%		1.74	%		1.60	%		1.49	%
普通股平均權益回報率		10.04	%		10.02	%		10.18	%		9.39	%		11.63	%		10.08	%		10.25	%
平均有形普通股權益的回報率(1)		14.46	%		14.54	%		14.82	%		13.82	%		17.11	%		14.61	%		14.94	%

(1)

A non-GAAP financial measure defined as net income divided by average stockholders' equity less average goodwill and other intangible assets.

CONDENSED CONSOLIDATED QUARTERLY NONINTEREST INCOME AND EXPENSE (Unaudited)

	Three Months Ended										Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,
(Amounts in thousands)	2024		2024		2024		2023		2023		2024		2023
Noninterest income
Wealth management	$	1,071	$	1,064	$	1,099	$	1,052	$	1,145	$	3,234	$	3,127
Service charges on deposits		3,661		3,428		3,310		3,637		3,729		10,399		10,359
Other service charges and fees		3,697		3,670		3,450		3,541		3,564		10,817		10,106
(Loss) gain on sale of securities		-		-		-		-		-		-		(21	)
Other operating income		2,023		1,180		1,400		2,232		1,184		4,603		3,419
Total noninterest income	$	10,452	$	9,342	$	9,259	$	10,462	$	9,622	$	29,053	$	26,990
Noninterest expense
Salaries and employee benefits	$	13,129	$	12,491	$	12,581	$	12,933	$	12,673	$	38,201	$	36,954
Occupancy expense		1,270		1,309		1,378		1,252		1,271		3,957		3,715
Furniture and equipment expense		1,574		1,687		1,545		1,489		1,480		4,806		4,389
Service fees		2,461		2,427		2,449		2,255		2,350		7,337		6,653
Advertising and public relations		967		933		796		843		968		2,696		2,457
Professional fees		221		330		372		787		172		923		780
Amortization of intangibles		536		530		530		536		536		1,596		1,195
FDIC premiums and assessments		365		364		369		376		392		1,098		1,135
Merger expense		-		-		-		-		-		-		2,393
Litigation expense		-		1,800		-		3,000		-		1,800		-
Other operating expense		3,654		3,026		3,366		3,309		3,071		10,046		8,726
Total noninterest expense	$	24,177	$	24,897	$	23,386	$	26,780	$	22,913	$	72,460	$	68,397

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EARNINGS (Unaudited)

	Three Months Ended															Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,
(Amounts in thousands, except per share data)	2024			2024			2024			2023			2023			2024			2023
Adjusted Net Income for diluted earnings per share	$	13,033		$	12,686		$	12,845		$	12,314		$	14,855		$	38,564		$	36,828
Non-GAAP adjustments:
Loss (gain) on sale of securities		-			-			-			-			-			-			21
Merger expense		-			-			-			-			-			-			2,393
Day 2 provision for allowance for credit losses - Surrey		-			-			-			-			-			-			1,614
Litigation expense		-			1,800			-			3,000			-			1,800			-
Other items(1)		(825	)		-			-			-			(204	)		(825	)		-
Total adjustments		(825	)		1,800			-			3,000			(204	)		975			4,028
Tax effect		(198	)		432			-			720			(49	)		234			532
Adjusted earnings, non-GAAP	$	12,406		$	14,054		$	12,845		$	14,594		$	14,700		$	39,305		$	40,324

Adjusted diluted earnings per common share, non-GAAP	$	0.68		$	0.76		$	0.69		$	0.79		$	0.78		$	2.13		$	2.26
Performance ratios, non-GAAP
Adjusted return on average assets		1.53	%		1.75	%		1.60	%		1.77	%		1.75	%		1.63	%		1.66	%
Adjusted return on average common equity		9.56	%		11.10	%		10.18	%		11.63	%		11.68	%		10.27	%		11.40	%
Adjusted return on average tangible common equity (2)		13.77	%		16.11	%		14.82	%		17.11	%		17.18	%		14.89	%		16.62	%

(1)		Includes other non-recurring income and expense items.
(2)		A non-GAAP financial measure defined as adjusted earnings divided by average stockholders' equity less average goodwill and other intangible assets.

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)

	Three Months Ended September 30,
	2024							2023
	Average				Average Yield/			Average				Average Yield/
(Amounts in thousands)	Balance		Interest(1)		Rate(1)			Balance		Interest(1)		Rate(1)
Assets
Earning assets
Loans(2)(3)	$	2,455,807	$	32,201		5.22	%	$	2,604,885	$	33,566		5.11	%
Securities available for sale		133,654		1,099		3.27	%		284,659		1,952		2.72	%
Interest-bearing deposits		270,440		3,701		5.44	%		50,855		697		5.44	%
Total earning assets		2,859,901		37,001		5.15	%		2,940,399		36,215		4.89	%
Other assets		371,358							393,001
Total assets	$	3,231,259						$	3,333,400

Liabilities and stockholders' equity
Interest-bearing deposits
Demand deposits	$	656,780	$	234		0.14	%	$	699,066	$	165		0.09	%
Savings deposits		886,766		3,735		1.68	%		862,121		1,941		0.89	%
Time deposits		245,020		1,329		2.16	%		263,940		652		0.98	%
Total interest-bearing deposits		1,788,566		5,298		1.18	%		1,825,127		2,758		0.60	%
Borrowings
Retail repurchase agreements		1,054		-		0.05	%		1,254		-		N/M
Total borrowings		1,054		-		0.05	%		1,254		-		N/M
Total interest-bearing liabilities		1,789,620		5,298		1.18	%		1,826,381		2,758		0.60	%
Noninterest-bearing demand deposits		877,472							964,093
Other liabilities		47,892							43,574
Total liabilities		2,714,984							2,834,048
Stockholders' equity		516,275							499,352
Total liabilities and stockholders' equity	$	3,231,259						$	3,333,400
Net interest income, FTE(1)			$	31,703						$	33,457
Net interest rate spread						3.97	%						4.29	%
Net interest margin, FTE(1)						4.41	%						4.51	%

(1)

Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2)

Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3)

Interest on loans includes non-cash and accelerated purchase accounting accretion of $592 thousand and $874 thousand for the three months ended September 30, 2024 and 2023, respectively.

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)

	Nine Months Ended September 30,
	2024							2023
	Average				Average Yield/			Average				Average Yield/
(Amounts in thousands)	Balance		Interest(1)		Rate(1)			Balance		Interest(1)		Rate(1)
Assets
Earning assets
Loans(2)(3)	$	2,501,209	$	98,479		5.26	%	$	2,523,814	$	93,261		4.94	%
Securities available for sale		172,331		4,073		3.16	%		306,435		6,191		2.70	%
Interest-bearing deposits		182,773		7,499		5.48	%		51,759		2,047		5.29	%
Total earning assets		2,856,313		110,051		5.15	%		2,882,008		101,499		4.71	%
Other assets		372,663							366,243
Total assets	$	3,228,976						$	3,248,251

Liabilities and stockholders' equity
Interest-bearing deposits
Demand deposits	$	662,433	$	570		0.11	%	$	682,820	$	225		0.04	%
Savings deposits		875,797		10,730		1.64	%		850,411		3,731		0.59	%
Time deposits		247,088		3,240		1.75	%		272,435		1,450		0.71	%
Total interest-bearing deposits		1,785,318		14,540		1.09	%		1,805,666		5,406		0.40	%
Borrowings
Federal funds purchased		839		35		5.52	%		3,532		135		5.11	%
Retail repurchase agreements		1,061		-		0.05	%		1,674		1		0.06	%
Total borrowings		1,900		35		2.46	%		5,206		136		3.49	%
Total interest-bearing liabilities		1,787,218		14,575		1.09	%		1,810,872		5,542		0.41	%
Noninterest-bearing demand deposits		883,013							924,591
Other liabilities		47,772							40,014
Total liabilities		2,718,003							2,775,477
Stockholders' equity		510,973							472,774
Total liabilities and stockholders' equity	$	3,228,976						$	3,248,251
Net interest income, FTE(1)			$	95,476						$	95,957
Net interest rate spread						4.06	%						4.30	%
Net interest margin, FTE(1)						4.46	%						4.45	%

(1)

Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2)

Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3)

Interest on loans includes non-cash and accelerated purchase accounting accretion of $2.04 million and $1.95 million for the nine months ended September 30, 2024 and 2023, respectively.

CONDENSED CONSOLIDATED QUARTERLY BALANCE SHEETS (Unaudited)

	September 30,			June 30,			March 31,			December 31,			September 30,
(Amounts in thousands, except per share data)	2024			2024			2024			2023			2023
Assets
Cash and cash equivalents	$	315,338		$	329,877		$	248,905		$	116,420		$	113,397
Debt securities available for sale, at fair value		166,669			129,686			166,247			280,961			275,332
Loans held for investment, net of unearned income		2,444,113			2,473,268			2,519,833			2,572,298			2,593,472
Allowance for credit losses		(35,118	)		(34,885	)		(35,461	)		(36,189	)		(36,031	)
Loans held for investment, net		2,408,995			2,438,383			2,484,372			2,536,109			2,557,441
Premises and equipment, net		49,654			50,528			51,333			50,680			51,205
Other real estate owned		346			100			374			192			243
Interest receivable		9,883			9,984			10,719			10,881			10,428
Goodwill		143,946			143,946			143,946			143,946			143,946
Other intangible assets		13,550			14,085			14,615			15,145			15,681
Other assets		115,980			116,230			115,470			114,211			116,552
Total assets	$	3,224,361		$	3,232,819		$	3,235,981		$	3,268,545		$	3,284,225

Liabilities
Deposits
Noninterest-bearing	$	869,723		$	889,462		$	902,396		$	931,920		$	944,301
Interest-bearing		1,789,530			1,787,810			1,779,819			1,790,405			1,801,835
Total deposits		2,659,253			2,677,272			2,682,215			2,722,325			2,746,136
Securities sold under agreements to repurchase		954			894			1,006			1,119			1,029
Interest, taxes, and other liabilities		43,460			45,769			45,816			41,807			41,393
Total liabilities		2,703,667			2,723,935			2,729,037			2,765,251			2,788,558

Stockholders' equity
Common stock		18,291			18,270			18,413			18,502			18,671
Additional paid-in capital		168,691			168,272			173,041			175,841			180,951
Retained earnings		342,121			334,756			327,389			319,902			313,489
Accumulated other comprehensive loss		(8,409	)		(12,414	)		(11,899	)		(10,951	)		(17,444	)
Total stockholders' equity		520,694			508,884			506,944			503,294			495,667
Total liabilities and stockholders' equity	$	3,224,361		$	3,232,819		$	3,235,981		$	3,268,545		$	3,284,225

Shares outstanding at period-end		18,290,938			18,270,273			18,413,088			18,502,396			18,671,470
Book value per common share	$	28.47		$	27.85		$	27.53		$	27.20		$	26.55
Tangible book value per common share(1)		19.86			19.20			18.92			18.60			18.00

(1)

A non-GAAP financial measure defined as stockholders' equity less goodwill and other intangible assets, divided by shares outstanding.

SELECTED CREDIT QUALITY INFORMATION (Unaudited)

	September 30,			June 30,			March 31,			December 31,			September 30,
(Amounts in thousands)	2024			2024			2024			2023			2023
Allowance for Credit Losses
Balance at beginning of period:
Allowance for credit losses - loans	$	34,885		$	35,461		$	36,189		$	36,031		$	36,177
Allowance for credit losses - loan commitments		441			746			746			758			964
Total allowance for credit losses beginning of period		35,326			36,207			36,935			36,789			37,141
Adjustments to beginning balance:
Allowance for credit losses - loans - Surrey acquisition for purchased credit deteriorated loans		-			-			-			-			-
Allowance for credit losses - loan commitments		-			-			-			-			-
Net Adjustments		-			-			-			-			-
Provision for credit losses:
Provision for credit losses - loans		1,360			449			1,011			1,041			1,315
(Recovery of) provision for credit losses - loan commitments		-			(305	)		-			(12	)		(206	)
Total provision for credit losses - loans and loan commitments		1,360			144			1,011			1,029			1,109
Charge-offs		(1,799	)		(1,599	)		(2,448	)		(2,105	)		(2,157	)
Recoveries		672			574			709			1,222			696
Net (charge-offs) recoveries		(1,127	)		(1,025	)		(1,739	)		(883	)		(1,461	)
Balance at end of period:
Allowance for credit losses - loans		35,118			34,885			35,461			36,189			36,031
Allowance for credit losses - loan commitments		441			441			746			746			758
Ending balance	$	35,559		$	35,326		$	36,207		$	36,935		$	36,789

Nonperforming Assets
Nonaccrual loans	$	19,754		$	19,815		$	19,617		$	19,356		$	18,366
Accruing loans past due 90 days or more		176			19			30			104			59
Modified loans past due 90 days or more		-			-			-			-			-
Total nonperforming loans		19,930			19,834			19,647			19,460			18,425
OREO		346			100			374			192			243
Total nonperforming assets	$	20,276		$	19,934		$	20,021		$	19,652		$	18,668


Additional Information
Total modified loans	$	2,320		$	2,290		$	2,177		$	1,873		$	1,674

Asset Quality Ratios
Nonperforming loans to total loans		0.82	%		0.80	%		0.78	%		0.76	%		0.71	%
Nonperforming assets to total assets		0.63	%		0.62	%		0.62	%		0.60	%		0.57	%
Allowance for credit losses to nonperforming loans		176.21	%		175.88	%		180.49	%		185.97	%		195.55	%
Allowance for credit losses to total loans		1.44	%		1.41	%		1.41	%		1.41	%		1.39	%
Annualized net charge-offs (recoveries) to average loans		0.18	%		0.16	%		0.27	%		0.14	%		0.22	%