FIRST COMMUNITY BANKSHARES INC /VA/ FCBC Income Statement

First community bankshares inc /va/ (FCBC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Interest and fees on loans
88,805	91,671	89,749	87,718	87,632	95,492	96,600	96,684	80,580	84,741	82,704
Interest on securities -- taxable
1,219	2,258	1,522	3,229	4,225	5,975	7,875	7,830	8,117	12,704	19,093
Interest on securities -- tax-exempt
2,497	2,828	3,029	3,624	3,978	4,350	4,790	4,883	5,194	5,943	5,972
Interest on deposits in banks
2,447	1,537	1,008	153	267	291	211	259	285	194	165
Total interest income
94,968	98,294	95,308	94,724	96,102	106,108	109,476	109,656	94,176	103,582	107,934
Interest expense:
Interest on deposits
5,392	5,144	4,987	4,479	5,878	7,308	8,823	9,972	12,788	19,887	27,796
Interest on short-term borrowings
123	811	850	2,101	1,952	2,024	2,222	2,515	2,475	2,883	3,297
Interest on long-term debt
-	1,494	2,253	3,264	3,519	5,958	6,789	7,113	6,884	6,955	7,589
Total interest expense
5,515	7,449	8,090	9,844	11,349	15,290	17,834	19,600	22,147	29,725	38,682
Net interest income
89,453	90,845	87,218	84,880	84,753	90,818	91,642	90,056	72,029	73,857	69,252
Provision for credit losses
3,571	2,393	2,771	1,255	2,191	145	8,208	5,678	9,047	14,757	15,801
Net interest income after provision for loan losses
85,882	88,452	84,447	83,625	82,562	90,673	83,434	84,378	62,982	59,100	53,451
Noninterest income:
Other service charges and fees
-	-	-	8,102	8,045	7,581	7,151	6,462	5,722	5,074	4,715
Insurance commissions
-	966	1,347	5,442	6,899	6,555	5,933	5,743	6,197	6,727	6,988
Impairment losses on securities
-	-	-	4,646	0	737	320	-	2,285	185	78,863
Portion of loss recognized in other comprehensive income
-	-	-	-	0	0	0	0	0	0	9,572
Net impairment losses recognized in earnings
-	-	-	4,646	0	737	320	942	2,285	185	88,435
Net gain on sale of securities
-43	-618	-661	335	144	-1,385	399	483	5,264	8,273	-11,673
Litigation settlements
6,995	-	-	-	-	-	-	-	-	-	-
Other operating income
2,804	2,548	3,502	3,209	4,129	4,355	5,235	6,742	3,888	3,663	2,624
Net FDIC indemnification asset amortization
2,377	2,181	3,517	5,474	6,379	3,979	5,597	458	-	-	-
Net gain on divestitures
-	-	-	3,682	0	755	-	-	-	-	-
Net gain on acquisition
-	-	-	-	-	-	-	-	-	-	4,493
Total noninterest income
33,677	26,443	24,568	27,066	29,530	30,003	29,771	36,710	35,534	40,508	-53,677
Noninterest expense:
Salaries and employee benefits
37,148	36,690	35,774	39,912	39,625	40,713	41,235	38,667	34,126	34,528	31,385
Occupancy expense
4,334	4,542	4,775	5,297	5,817	6,338	7,033	6,872	6,280	6,438	5,889
Furniture and equipment expense
4,457	3,980	4,425	4,341	5,199	4,952	4,966	4,145	3,490	3,713	3,746
Service fees
4,448	3,860	3,348	-	-	-	-	-	-	-	-
Advertising and public relations
2,310	2,011	2,206	-	-	-	-	-	-	-	-
Professional fees
1,698	1,430	2,567	-	-	-	-	-	-	-	-
Amortization of intangibles
997	1,039	1,056	1,136	1,118	787	729	804	1,020	1,032	1,028
FDIC premiums and assessments
318	906	910	1,383	1,513	1,672	1,717	1,612	1,984	2,856	4,262
Goodwill impairment
-	1,492	-	-	-	-	-	-	1,239	1,039	1,726
FHLB debt prepayment fees
-	-1,096	-	-	1,702	5,008	-	-	-471	-	-88
Merger expenses
2,124	-	-	730	86	1,150	57	5,093	-	-	-
Other operating expense
11,929	12,727	11,841	19,947	21,111	22,242	23,248	21,190	20,305	20,337	18,500
Total noninterest expense
69,763	69,773	66,902	72,746	76,171	82,862	78,985	78,383	68,915	69,943	66,624
Income before income taxes
49,796	45,122	42,113	37,945	35,921	37,814	34,220	42,705	29,601	29,665	-66,850
Income tax expense
10,994	8,782	20,628	12,819	11,381	12,324	10,908	14,128	9,573	7,818	-28,154
Net income
38,802	36,340	21,485	25,126	24,540	25,490	23,312	28,577	20,028	21,847	-38,696
Dividends on preferred stock
-	-	-	-	105	910	1,024	1,058	703	-	2,160
Net income available to common shareholders
-	-	-	25,126	24,435	24,580	22,288	27,519	19,325	21,847	-40,856
Earnings per common share
Basic (in dollars per share)
2.47	2.19	1.26	1.45	1.32	1.34	1.13	1.44	1.08	1.23	-2.75
Diluted (in dollars per share)
2.46	2.18	1.26	1.45	1.31	1.31	1.11	1.40	1.07	1.23	-2.75
Weighted average shares outstanding
Cash dividends per common share
-	-	-	-	-	-	-	0.43	0.40	0.40	0.30
Basic (in shares)
15,690	16,587	17,002	17,319	18,531	18,406	19,792	19,127	17,877	17,802	14,868
Diluted (in shares)
15,756	16,666	17,077	17,365	18,727	19,483	20,961	20,419	18,687	17,822	14,868
Fiduciary and Trust [Member]
Noninterest income
3,423	3,262	3,150	2,828	2,975	3,030	3,412	3,701	3,510	3,828	4,147
Deposit Account [Member]
Noninterest income
14,594	14,733	13,803	13,588	13,717	13,828	13,558	14,063	13,238	13,128	13,892
Financial Service, Other [Member]
Noninterest income
8,281	7,733	6,944	-	-	-	-	-	-	-	-
Common Dividend [Member]
Cash dividends per common share (in dollars per share)
0.96	0.78	0.68	0.60	0.54	0.50	0.48	-	-	-	-
Special Cash Dividend [Member]
Cash dividends per common share (in dollars per share)
-	0.48	-	-	-	-	-	-	-	-	-