AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income hit a record $22.5M (+83.8% YoY), but the jump was driven mainly by a one-time $10.4M pre-tax gain on the sale of the Bearing Insurance stake; adjusted net income rose a more modest 17.5% YoY to $14.4M.
Biggest Revenue Drivers
Net interest income$34.9M+13.76% YoY
Growth in average interest-earning assets and lower funding costs, primarily from the Hometown acquisition
Noninterest income$22.3M+116.06% YoY
Primarily attributable to a $10.38 million pre-tax gain on sale of the Company's ownership interest in Bearing Insurance
Biggest Revenue Drivers
Net interest income$34.9M+13.76% YoY
Growth in average interest-earning assets and lower funding costs, primarily from the Hometown acquisition
Noninterest income$22.3M+116.06% YoY
Primarily attributable to a $10.38 million pre-tax gain on sale of the Company's ownership interest in Bearing Insurance
Within Noninterest income
Gain on sale of equity investment$10.4MNM (none in Q2 2025)
Pre-tax gain on sale of the Company's ownership interest in Bearing Insurance
Other service charges and fees$4.5M+17.99% YoY
Increase in other service charges and fees
Largest Expense Items
Salaries and employee benefits$15.1M+5.42% YoY
Higher salaries and benefits expense
Other operating expense$4.0M+18.70% YoY
General increase in other operating expenses
Service fees$2.9M+15.47% YoY
Higher service fees expense
Margins: FTE net interest margin was 4.38% in Q2 2026, up 1 bp YoY, while net interest rate spread rose 9 bps to 4.06%, driven by growth in average earning assets (largely from the Hometown acquisition) and lower funding costs.
Watch Items from the Filing
Headline net income of $22.5M (+83.8% YoY) was inflated by a $10.4M pre-tax non-recurring gain on the Bearing Insurance sale; adjusted net income was $14.4M, up a more modest 17.5% YoY.
Excluding the Hometown acquisition, loans held for investment declined $26.05 million (-1.13%) and deposits declined $26.46 million (-0.99%) from year-end 2025, indicating organic contraction.
Nonperforming assets rose $2.99 million, or 21.16%, since December 31, 2025 to $17.1 million, and modified loans increased 40.66% to $3.4 million.
Allowance for credit losses to total loans held flat at 1.33%, but the increase in the reserve was largely driven by a $3.21 million addition tied to the Hometown acquisition rather than organic provisioning.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC): stock profile, AI score and financials
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores FCBC at 52.3/100 on a composite quality score built from its SEC filings, placing it at rank #1,484 of 2,925 stocks — the bottom half of the AI-ranked universe. FCBC scores in the top quartile across profitability (90.4), free cash flow (77.3). Areas of concern include earnings quality (22.6) and revenue scale (23.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), FIRST COMMUNITY BANKSHARES INC /VA/ reports quarterly revenue of $57.2M, net income of $22.5M, an operating margin of 51.0%. Top institutional holders of FCBC by reported 13-F value include BlackRock, DIMENSIONAL FUND ADVISORS, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. FCBC trades on the Nasdaq exchange and files with the SEC under CIK 859070. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FCBC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIRST COMMUNITY BANKSHARES INC /VA/ directly from SEC EDGAR.