FIRST COMMUNITY BANKSHARES INC /VA/ FCBC Income Statement

First community bankshares inc /va/ (FCBC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Interest and fees on loans
28,058	21,837	22,068	22,721	22,179	23,938	22,556	22,422	22,755	22,314	22,694	22,914	21,827	21,956	21,952	22,237	21,573	21,633	22,259	21,826	21,914	25,841	23,407	23,410	22,834	24,053	23,439	24,264	24,844	28,188	28,275	20,853	19,368	19,947	20,084	20,094	20,455	21,440	20,997
Interest on securities -- taxable
380	303	261	246	409	554	666	649	389	365	341	407	409	500	738	972	1,019	1,058	1,062	1,070	1,035	1,145	1,196	1,537	2,097	2,121	1,999	1,869	1,886	1,770	1,989	1,992	2,079	2,023	1,711	1,850	2,533	2,895	3,730
Interest on securities -- tax-exempt
538	567	596	649	685	695	706	712	715	730	739	763	797	862	905	919	938	965	994	1,003	1,016	1,021	1,108	1,099	1,122	1,159	1,216	1,207	1,208	1,216	1,206	1,265	1,196	1,190	1,180	1,291	1,533	1,451	1,394
Interest on deposits in banks
533	663	680	766	338	194	358	514	471	353	275	221	159	98	26	9	20	21	33	80	133	174	40	47	30	31	42	72	66	82	66	72	39	41	75	100	69	54	34
Total interest income
29,509	23,370	23,605	24,382	23,611	25,381	24,286	24,297	24,330	23,762	24,049	24,305	23,192	23,416	23,621	24,137	23,550	23,677	24,348	23,979	24,098	28,181	25,751	26,093	26,083	27,364	26,696	27,412	28,004	31,256	31,536	24,182	22,682	23,201	23,050	23,335	24,590	25,840	26,155
Interest expense:
Interest on deposits
1,825	1,312	1,383	1,392	1,305	1,297	1,269	1,327	1,251	1,313	1,275	1,233	1,166	1,145	1,133	1,087	1,114	1,202	1,384	1,562	1,730	1,803	1,782	1,835	1,888	2,031	2,147	2,283	2,362	2,604	2,603	2,360	2,405	2,637	2,998	3,273	3,880	4,872	5,106
Interest on short-term borrowings
2	1	1	1	120	205	204	202	200	216	213	211	210	488	548	549	516	466	497	499	490	513	526	483	502	536	517	579	590	656	675	589	595	626	577	632	640	-	-
Interest on long-term debt
-	-	-	-	-	0	488	506	500	500	511	567	675	826	819	810	809	834	798	848	1,039	1,155	1,428	1,707	1,668	1,705	1,706	1,688	1,690	1,860	1,799	1,749	1,705	1,672	1,741	1,676	1,795	2,371	2,507
Total interest expense
1,827	1,313	1,384	1,393	1,425	1,502	1,961	2,035	1,951	2,029	1,999	2,011	2,051	2,459	2,500	2,446	2,439	2,502	2,679	2,909	3,259	3,471	3,736	4,025	4,058	4,272	4,370	4,550	4,642	5,120	5,077	4,698	4,705	4,935	5,316	5,581	6,315	7,243	7,613
Net interest income
27,682	22,057	22,221	22,989	22,186	23,879	22,325	22,262	22,379	21,733	22,050	22,294	21,141	20,957	21,121	21,691	21,111	21,175	21,669	21,070	20,839	24,710	22,015	22,068	22,025	23,092	22,326	22,862	23,362	26,136	26,459	19,484	17,977	18,266	17,734	17,754	18,275	18,597	18,542
Provision for credit losses
3,500	91	675	1,585	1,220	908	495	495	495	615	730	934	492	500	-1,154	722	1,187	434	381	276	1,100	-488	-2,439	1,279	1,793	1,528	2,333	3,205	1,142	1,220	1,916	1,620	922	2,436	1,920	3,079	1,612	3,810	3,596
Net interest income after provision for loan losses
24,182	21,966	21,546	21,404	20,966	22,971	21,830	21,767	21,884	21,118	21,320	21,360	20,649	20,457	22,275	20,969	19,924	20,741	21,288	20,794	19,739	25,198	24,454	20,789	20,232	21,564	19,993	19,657	22,220	24,916	24,543	17,864	17,055	15,830	15,814	14,675	16,663	14,787	14,946
Noninterest income:
Other service charges and fees
-	-	-	-	-	-	-	-	-	-	-	-	-	2,014	2,024	2,054	2,010	2,058	1,974	2,005	2,008	2,108	1,852	1,850	1,771	1,795	1,777	1,793	1,786	1,682	1,631	1,564	1,585	1,429	1,426	1,461	1,406	1,244	1,250
Insurance commissions
-	-	-	-	-	0	299	338	329	343	306	325	373	59	1,592	1,600	2,191	1,563	1,650	1,559	2,127	1,442	1,695	1,454	1,964	1,400	1,559	1,308	1,666	1,215	1,616	1,336	1,576	1,170	1,523	1,561	1,943	-1,663	-1,389
Impairment losses on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,635	11	-	-	-	-	-	0	219	254	264	-	-	-	-	-	942	-	-	1,548	210	0	527	-	185
Portion of loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	0	0	0	0	0	0	0	0	-	0	-	-	-	0	-	0	-	-
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,635	11	-	-	-	-	-	0	219	254	264	-	-	-	-	-	942	-	-	1,548	210	0	527	-	185
Net gain on sale of securities
385	-	-	-43	-	-	-618	-	-	-	-	-657	-	388	25	-79	1	-7	-39	213	-23	-1,691	320	-59	45	208	-39	113	117	213	228	-9	51	26	178	3,224	1,836	2,574	1,201
Litigation settlements
-	-	-	-	1,675	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
-	-	900	2,025	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating income
844	869	709	471	755	155	964	827	602	1,166	593	1,074	669	655	1,046	623	885	762	723	1,924	720	1,334	839	1,408	774	950	1,458	1,010	1,817	1,088	3,599	1,183	872	1,261	877	834	916	1,091	890
Net FDIC indemnification asset amortization
486	590	719	516	552	579	645	575	382	331	268	1,586	1,332	1,618	1,369	1,328	1,159	1,200	1,768	1,846	1,565	813	1,096	936	1,134	9,887	-1,089	-1,662	-1,539	-	131	-	-	-	-	-	-	-	-
Net gain on divestitures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,065	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total noninterest income
7,549	9,314	7,634	8,649	8,080	6,240	6,519	7,016	6,668	7,695	6,703	5,055	5,115	6,238	5,895	7,030	7,903	7,483	7,074	8,137	6,836	7,498	7,667	7,604	7,234	6,951	8,111	6,848	7,861	9,213	11,163	8,343	7,991	6,606	8,066	11,363	9,499	10,938	8,904
Noninterest expense:
Salaries and employee benefits
11,386	9,495	9,334	9,153	9,166	9,273	8,983	8,993	9,441	9,003	9,001	9,022	8,748	9,411	9,828	10,198	10,475	10,268	9,971	9,693	9,693	10,841	9,924	10,043	9,905	10,085	11,080	9,960	10,110	10,693	10,860	8,892	8,222	7,903	8,409	8,685	9,129	8,753	8,487
Occupancy expense
1,315	1,057	1,042	1,082	1,153	1,134	1,075	1,083	1,250	1,104	1,082	1,341	1,248	1,158	1,249	1,359	1,531	1,413	1,443	1,427	1,534	1,513	1,469	1,578	1,778	1,683	1,700	1,795	1,855	1,938	1,754	1,654	1,526	1,589	1,476	1,568	1,647	1,573	1,570
Furniture and equipment expense
1,384	1,179	1,183	1,062	1,033	1,004	985	945	1,046	1,114	1,133	1,087	1,091	1,070	1,066	1,109	1,096	1,345	1,259	1,358	1,237	1,341	1,212	1,205	1,194	1,035	1,288	1,300	1,343	1,404	955	975	811	804	862	909	915	926	918
Service fees
1,523	721	1,466	1,231	1,030	1,047	1,134	851	828	703	705	1,095	845	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising and public relations
512	478	795	513	524	550	478	461	522	506	551	544	605	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Professional fees
233	408	548	328	414	356	337	430	307	589	339	817	822	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangibles
361	251	251	249	246	254	261	263	261	266	266	263	261	265	316	277	278	281	281	279	277	255	179	178	175	184	183	183	179	191	191	189	233	250	250	261	259	260	253
FDIC premiums and assessments
-	0	0	150	168	209	234	252	211	212	227	227	244	274	363	372	374	332	377	389	415	361	419	458	434	316	460	469	472	389	611	290	322	344	348	414	878	718	710
Goodwill impairment
-	-	-	-	-	-	1,492	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	8	49	-	645	3,419	163	-	0	-	-	-	-
FHLB debt prepayment fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,702	-	-	3,047	-	-	-	-	-	-	-	-	-	-	-942	942	0	-471	-	-
Merger expenses
1,893	-	592	-	-	-	-	-	-	-	-	-	-	55	226	410	39	0	0	0	86	-	285	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	1,096	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expense
3,057	3,762	2,233	2,883	3,051	3,482	2,056	3,939	3,250	3,383	3,173	2,642	2,643	4,420	5,509	4,997	5,021	5,444	5,688	5,441	4,538	6,913	4,934	4,701	5,694	7,452	5,442	4,818	5,536	6,252	5,309	4,713	4,916	4,925	4,715	5,901	4,764	5,199	4,660
Total noninterest expense
21,664	18,883	17,444	16,651	16,785	17,309	18,131	17,217	17,116	16,880	16,477	17,038	16,507	16,653	18,557	18,722	18,814	19,083	19,019	20,289	17,780	24,050	21,469	18,163	19,180	20,755	20,153	18,533	19,544	21,733	20,325	20,132	16,193	17,054	16,060	17,738	18,063	17,429	16,598
Income before income taxes
10,067	12,397	11,736	13,402	12,261	11,902	10,218	11,566	11,436	11,933	11,546	9,377	9,257	10,042	9,613	9,277	9,013	9,141	9,343	8,642	8,795	8,646	10,652	10,230	8,286	7,760	7,951	7,972	10,537	12,396	15,381	6,075	8,853	5,382	7,820	8,300	8,099	8,296	7,252
Income tax expense
2,195	2,833	2,580	2,951	2,630	2,596	1,118	2,500	2,568	10,720	3,894	2,959	3,055	3,638	3,230	3,022	2,929	2,993	3,084	2,467	2,837	2,931	3,609	3,223	2,561	2,436	2,539	2,537	3,396	3,957	5,322	1,997	2,852	2,151	2,502	2,572	2,348	1,743	2,121
Net income
7,872	9,564	9,156	10,451	9,631	9,306	9,100	9,066	8,868	1,213	7,652	6,418	6,202	6,404	6,383	6,255	6,084	6,148	6,259	6,175	5,958	5,715	7,043	7,007	5,725	5,324	5,412	5,435	7,141	8,439	10,059	4,078	6,001	3,231	5,318	5,728	5,751	6,553	5,131
Dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	105	227	228	227	228	252	261	253	258	272	220	283	283	-	286	131	-	-	-
Net income available to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	6,404	6,383	6,255	6,084	6,148	6,259	6,175	5,853	5,488	6,815	6,780	5,497	5,072	5,151	5,182	6,883	8,167	9,839	3,795	5,718	2,945	5,032	5,597	5,751	6,553	5,131
Earnings per common share
Basic (in dollars per share)
0.44	0.60	0.59	0.67	0.61	0.58	0.55	0.54	0.52	0.07	0.45	0.38	0.36	0.38	0.37	0.36	0.34	0.34	0.34	0.33	0.31	0.30	0.37	0.37	0.30	0.27	0.26	0.26	0.34	0.43	0.49	0.20	0.32	0.17	0.28	0.31	0.32	0.37	0.29
Diluted (in dollars per share)
0.44	0.62	0.58	0.66	0.60	0.57	0.55	0.54	0.52	0.07	0.45	0.38	0.36	0.38	0.37	0.36	0.34	0.33	0.34	0.33	0.31	0.30	0.36	0.36	0.29	0.25	0.26	0.26	0.34	0.42	0.47	0.20	0.31	0.16	0.28	0.31	0.32	0.37	0.29
Weighted average shares outstanding
Cash dividends per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	0.12	0.12	0.11	0.11	0.11	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Basic (in shares)
17,998	15,607	15,603	15,712	15,839	16,192	16,512	16,689	16,955	16,992	17,005	17,012	16,998	16,974	17,031	17,414	17,859	18,188	18,470	18,831	18,633	18,403	18,402	18,395	18,423	19,128	20,008	19,997	20,032	20,083	20,013	18,561	17,849	17,849	17,896	17,895	17,867	17,808	17,787
Diluted (in shares)
18,050	15,663	15,664	15,775	15,920	16,216	16,612	16,788	17,047	17,073	17,082	17,082	17,072	17,023	17,083	17,462	17,892	18,204	18,500	18,860	19,344	19,502	19,466	19,457	19,506	20,247	21,136	21,205	21,258	21,245	21,333	19,909	19,189	19,122	19,205	18,534	17,887	17,832	17,805
Fiduciary and Trust [Member]
Noninterest income
844	842	952	884	745	854	791	823	794	811	758	791	790	681	653	810	684	744	790	775	666	634	670	718	1,008	732	863	971	846	862	1,005	940	894	818	868	930	894	909	1,012
Deposit Account [Member]
Noninterest income
3,731	3,702	3,785	3,699	3,408	3,850	3,803	3,612	3,468	3,725	3,605	3,360	3,113	3,442	3,494	3,361	3,291	3,563	3,744	3,507	2,903	3,729	3,606	3,423	3,070	3,493	3,582	3,315	3,168	3,826	3,895	3,329	3,013	3,450	3,404	3,353	3,031	3,457	3,347
Financial Service, Other [Member]
Noninterest income
2,231	2,096	2,007	2,129	2,049	1,960	1,925	1,991	1,857	1,985	1,709	1,748	1,502	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Dividend [Member]
Cash dividends per common share (in dollars per share)
-	-	-	0.25	-	-	-	0.18	0.66	0.18	0.18	0.16	0.16	0.16	0.16	0.14	0.14	0.14	0.14	0.13	0.13	0.13	0.13	0.12	0.12	-	-	-	-	-	-	-	-	-	-	-	-	-	-