First Community Bankshares, Inc. Announces Second Quarter 2023 Results and Quarterly Cash Dividend
25 Luglio 2023 - 10:30PM
First Community Bankshares, Inc. (NASDAQ: FCBC)
(www.firstcommunitybank.com) (the “Company”) today reported its
unaudited results of operations and other financial information for
the quarter ended June 30, 2023. The Company reported net income
of $ 9.81 million, or $ 0.55 per diluted common
share, for the quarter ended June 30, 2023. When adjusted to
exclude the impact of merger-related expenses associated with the
acquisition of Surrey Bancorp, net income was $12.95 million for
the second quarter. Net income for the six months
ended June 30, 2023, was $ 21.60 million or $
1.26 per diluted common share.
The Company also declared a quarterly cash
dividend to common shareholders of twenty-nine cents ($ 0.29) per
common share. The quarterly dividend is payable to common
shareholders of record on August 11, 2023, and is expected to be
paid on or about August 25, 2023. This marks the
38th consecutive year of regular dividends to common
shareholders.
Second Quarter 2023 and
Current Highlights
Income
Statement
- Net income of $9.81 million
for the quarter was approximately 12.48%,
or $1.40 million, lower compared to net income of
$11.21 million in the same quarter of 2022. The
decrease is primarily attributable to $2.01 million in one-time
merger-related costs and $1.61 million in additional credit loss
provision both associated with the acquisition of Surrey Bancorp on
April 21, 2023.
- When adjusted for merger-related
costs and provisions and other non-recurring items, second quarter
net income of $12.95 million, or $0.70 per diluted common share was
an increase of $1.81 million, or 16.20%, from the same quarter last
year.
- Net interest income increased $5.32
million compared to the same quarter in 2022, as increases in
interest rates improved net interest margin.
- Net interest margin of 4.48% is an
increase of 70 basis points over the same quarter of 2022.
The yield on earning assets increased 91 basis points primarily
driven by increased earnings on loans and securities.
- Interest and fees on loans
increased $6.28 million from the same quarter of 2022 and is
attributable to both an increase in yield and an increase in
average balance compared to the yield and average balance of the
prior year. Interest income from securities of $2.06 million was an
increase of $506 thousand over the same quarter of 2022 and is
attributable to an increase in the portfolio and in yield from the
same period of the prior year. Interest income on deposits in banks
also increased $117 thousand to $885 thousand for the second
quarter, primarily due to a significant increase in overnight rates
compared to the second quarter of 2022.
- Annualized return on average assets
was 1.18% for the second quarter and 1.36% for the first six months
of 2023 compared to 1.38% and 1.29% for the same periods,
respectively of 2022. Annualized return on average common equity
was 8.04% for the second quarter and 9.48% for the first six months
of 2023 compared to 10.61% and 9.80% for the same periods,
respectively of 2022.
Balance Sheet
and Asset Quality
-
The Company completed the strategic acquisition of Surrey Bancorp,
on April 21, 2023. Total assets of $466.25 million were acquired in
the transaction increasing the Company's consolidated assets to
$3.39 billion. In addition, the Company issued 2.99 million common
shares in the purchase resulting in an increase in capital of
$71.37 million. The purchase transaction created $14.38 million in
goodwill and $12.70 million in other intangible assets. Other major
balance sheet components increased in the transaction with $239.08
million acquired in loans and $403.64 million in deposits.
-
The Company’s loan portfolio increased by $220.88 million, or 9.20%
from December 31, 2022. Excluding the Surrey transaction, the
loan portfolio decreased approximately $18.20 million, or
0.76%.
-
Deposits increased $173.86 million, or 6.49% from year-end
2022. Excluding the Surrey transaction, deposits decreased
approximately $229.77 million, or 8.58% from December 31,
2022.
-
The Company repurchased 279,567 common shares during the second
quarter of 2023 for a total cost of $7.69 million. Share
repurchases had been suspended in the fourth quarter of 2022 in
anticipation of the now completed acquisition of Surrey Bancorp and
not restarted until the second quarter of 2023.
-
Non-performing loans to total loans increased slightly to 0.71%
from 0.65% that was reported at March 31, 2023. The Company
experienced net charge-offs for the second quarter of 2023 of $728
thousand, or 0.11% of annualized average loans, compared to net
recoveries of $258 thousand, or 0.05% of annualized average loans
for the same period in 2022.
-
The allowance for credit losses to total loans was 1.38% at June
30, 2023 compared to 1.29% for the first quarter of 2023.
-
Accumulated other comprehensive loss of $14.46 million at June 30,
2023, is primarily attributable to a relatively small decline in
the market value of investment securities compared to book value
after the significant increases in benchmark interest rates of the
last six quarters.
-
Book value per share at June 30, 2023, was $26.29, an increase of
$0.28 from year-end 2022.
Non-GAAP Financial Measures
In addition to financial statements prepared in
accordance with U.S. generally accepted accounting principles
(“GAAP”), the Company uses certain non-GAAP financial measures that
provide useful information for financial and operational decision
making, evaluating trends, and comparing financial results to other
financial institutions. The non-GAAP financial measures presented
in this news release include “tangible book value per common
share,” “return on average tangible common equity,” “adjusted
earnings,” “adjusted diluted earnings per share,” “adjusted return
on average assets,” “adjusted return on average common equity,”
“adjusted return on average tangible common equity,” and certain
financial measures presented on a fully taxable equivalent (“FTE”)
basis. FTE basis is calculated using the federal statutory income
tax rate of 21%. While the Company believes certain non-GAAP
financial measures enhance the understanding of its business and
performance, they are supplemental and not a substitute for, or
more important than, financial measures prepared in accordance with
GAAP and may not be comparable to those reported by other financial
institutions.
About First Community Bankshares,
Inc.
First Community Bankshares, Inc., a financial
holding company headquartered in Bluefield, Virginia, provides
banking products and services through its wholly owned subsidiary
First Community Bank. First Community Bank operated 53 branch
banking locations in Virginia, West Virginia, North Carolina, and
Tennessee as of June 30, 2023. First Community Bank offers wealth
management and investment advice and services through its Trust
Division and through its wholly owned subsidiary, First Community
Wealth Management, which collectively managed and administered $
1.42 billion in combined assets as of June 30, 2023. The
Company reported consolidated assets of $ 3.39 billion as
of June 30, 2023. The Company’s common stock is listed on the
NASDAQ Global Select Market under the trading symbol, “FCBC”.
Additional investor information is available on the Company’s
website at www.firstcommunitybank.com.
This news release may include forward-looking
statements. These forward-looking statements are based on current
expectations that involve risks, uncertainties, and assumptions.
Should one or more of these risks or uncertainties materialize or
should underlying assumptions prove incorrect, actual results may
differ materially. These risks include: changes in business or
other market conditions; the timely development, production and
acceptance of new products and services; the challenge of managing
asset/liability levels; the management of credit risk and interest
rate risk; the difficulty of keeping expense growth at modest
levels while increasing revenues; and other risks detailed from
time to time in the Company’s Securities and Exchange Commission
reports including, but not limited to, the Annual Report on Form
10-K for the most recent fiscal year end. Pursuant to the Private
Securities Litigation Reform Act of 1995, the Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited) |
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
(Amounts in
thousands, |
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|
June 30, |
|
|
June 30, |
|
except share and per share
data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
2022 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on loans |
|
$ |
31,927 |
|
|
$ |
27,628 |
|
|
$ |
27,873 |
|
|
$ |
26,405 |
|
|
$ |
25,651 |
|
|
$ |
59,555 |
|
|
$ |
50,292 |
|
Interest on securities |
|
|
2,057 |
|
|
|
2,099 |
|
|
|
1,900 |
|
|
|
1,785 |
|
|
|
1,551 |
|
|
|
4,156 |
|
|
|
2,301 |
|
Interest on deposits in
banks |
|
|
885 |
|
|
|
462 |
|
|
|
1,215 |
|
|
|
1,532 |
|
|
|
768 |
|
|
|
1,347 |
|
|
|
1,016 |
|
Total interest income |
|
|
34,869 |
|
|
|
30,189 |
|
|
|
30,988 |
|
|
|
29,722 |
|
|
|
27,970 |
|
|
|
65,058 |
|
|
|
53,609 |
|
Interest
expense |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on deposits |
|
|
1,930 |
|
|
|
718 |
|
|
|
366 |
|
|
|
380 |
|
|
|
422 |
|
|
|
2,648 |
|
|
|
908 |
|
Interest on borrowings |
|
|
77 |
|
|
|
59 |
|
|
|
1 |
|
|
|
- |
|
|
|
1 |
|
|
|
136 |
|
|
|
1 |
|
Total interest expense |
|
|
2,007 |
|
|
|
777 |
|
|
|
367 |
|
|
|
380 |
|
|
|
423 |
|
|
|
2,784 |
|
|
|
909 |
|
Net interest
income |
|
|
32,862 |
|
|
|
29,412 |
|
|
|
30,621 |
|
|
|
29,342 |
|
|
|
27,547 |
|
|
|
62,274 |
|
|
|
52,700 |
|
Provision for credit
losses |
|
|
4,105 |
|
|
|
1,742 |
|
|
|
3,416 |
|
|
|
685 |
|
|
|
510 |
|
|
|
5,847 |
|
|
|
2,471 |
|
Net interest income
after provision |
|
|
28,757 |
|
|
|
27,670 |
|
|
|
27,205 |
|
|
|
28,657 |
|
|
|
27,037 |
|
|
|
56,427 |
|
|
|
50,229 |
|
Noninterest income |
|
|
8,785 |
|
|
|
8,583 |
|
|
|
9,184 |
|
|
|
9,950 |
|
|
|
8,854 |
|
|
|
17,368 |
|
|
|
18,048 |
|
Noninterest expense |
|
|
24,671 |
|
|
|
20,813 |
|
|
|
20,730 |
|
|
|
21,145 |
|
|
|
21,255 |
|
|
|
45,484 |
|
|
|
41,241 |
|
Income before income
taxes |
|
|
12,871 |
|
|
|
15,440 |
|
|
|
15,659 |
|
|
|
17,462 |
|
|
|
14,636 |
|
|
|
28,311 |
|
|
|
27,036 |
|
Income tax expense |
|
|
3,057 |
|
|
|
3,658 |
|
|
|
3,076 |
|
|
|
4,111 |
|
|
|
3,423 |
|
|
|
6,715 |
|
|
|
6,308 |
|
Net
income |
|
$ |
9,814 |
|
|
$ |
11,782 |
|
|
$ |
12,583 |
|
|
$ |
13,351 |
|
|
$ |
11,213 |
|
|
$ |
21,596 |
|
|
$ |
20,728 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.53 |
|
|
$ |
0.73 |
|
|
$ |
0.78 |
|
|
$ |
0.82 |
|
|
$ |
0.67 |
|
|
$ |
1.25 |
|
|
$ |
1.24 |
|
Diluted |
|
$ |
0.55 |
|
|
$ |
0.72 |
|
|
$ |
0.77 |
|
|
$ |
0.81 |
|
|
$ |
0.67 |
|
|
$ |
1.26 |
|
|
$ |
1.24 |
|
Cash dividends per common
share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Regular |
|
|
0.29 |
|
|
|
0.29 |
|
|
|
0.29 |
|
|
|
0.27 |
|
|
|
0.27 |
|
|
|
0.58 |
|
|
|
0.54 |
|
Weighted average shares
outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
18,407,078 |
|
|
|
16,228,297 |
|
|
|
16,229,289 |
|
|
|
16,378,022 |
|
|
|
16,662,817 |
|
|
|
17,323,706 |
|
|
|
16,739,624 |
|
Diluted |
|
|
18,431,598 |
|
|
|
16,289,489 |
|
|
|
16,281,922 |
|
|
|
16,413,202 |
|
|
|
16,682,615 |
|
|
|
17,363,478 |
|
|
|
16,772,847 |
|
Performance ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets |
|
|
1.18 |
% |
|
|
1.55 |
% |
|
|
1.59 |
% |
|
|
1.63 |
% |
|
|
1.38 |
% |
|
|
1.36 |
% |
|
|
1.29 |
% |
Return on average common equity |
|
|
8.04 |
% |
|
|
11.15 |
% |
|
|
11.99 |
% |
|
|
12.60 |
% |
|
|
10.61 |
% |
|
|
9.48 |
% |
|
|
9.80 |
% |
Return on average tangible
common equity(1) |
|
|
11.65 |
% |
|
|
16.19 |
% |
|
|
17.75 |
% |
|
|
18.51 |
% |
|
|
15.56 |
% |
|
|
13.76 |
% |
|
|
14.32 |
% |
____________
(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 |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|
June 30, |
|
|
June 30, |
|
(Amounts in thousands) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
2022 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Noninterest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wealth management |
|
$ |
965 |
|
|
$ |
1,017 |
|
|
$ |
958 |
|
|
$ |
932 |
|
|
$ |
993 |
|
|
$ |
1,982 |
|
|
$ |
1,965 |
|
Service charges on deposits |
|
|
3,471 |
|
|
|
3,159 |
|
|
|
3,354 |
|
|
|
3,689 |
|
|
|
3,672 |
|
|
|
6,630 |
|
|
|
7,170 |
|
Other service charges and fees |
|
|
3,460 |
|
|
|
3,082 |
|
|
|
3,006 |
|
|
|
2,988 |
|
|
|
3,297 |
|
|
|
6,542 |
|
|
|
6,314 |
|
(Loss) gain on sale of securities |
|
|
(28 |
) |
|
|
7 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(21 |
) |
|
|
- |
|
Gain on divestiture |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,658 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Other operating income |
|
|
917 |
|
|
|
1,318 |
|
|
|
1,866 |
|
|
|
683 |
|
|
|
892 |
|
|
|
2,235 |
|
|
|
2,599 |
|
Total noninterest income |
|
$ |
8,785 |
|
|
$ |
8,583 |
|
|
$ |
9,184 |
|
|
$ |
9,950 |
|
|
$ |
8,854 |
|
|
$ |
17,368 |
|
|
$ |
18,048 |
|
Noninterest
expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
|
$ |
12,686 |
|
|
$ |
11,595 |
|
|
$ |
11,913 |
|
|
$ |
12,081 |
|
|
$ |
11,518 |
|
|
$ |
24,281 |
|
|
$ |
23,189 |
|
Occupancy expense |
|
|
1,276 |
|
|
|
1,168 |
|
|
|
1,196 |
|
|
|
1,188 |
|
|
|
1,165 |
|
|
|
2,444 |
|
|
|
2,434 |
|
Furniture and equipment expense |
|
|
1,508 |
|
|
|
1,401 |
|
|
|
1,413 |
|
|
|
1,478 |
|
|
|
1,496 |
|
|
|
2,909 |
|
|
|
3,110 |
|
Service fees |
|
|
2,284 |
|
|
|
2,019 |
|
|
|
1,905 |
|
|
|
1,635 |
|
|
|
2,563 |
|
|
|
4,303 |
|
|
|
4,066 |
|
Advertising and public
relations |
|
|
846 |
|
|
|
643 |
|
|
|
574 |
|
|
|
718 |
|
|
|
577 |
|
|
|
1,489 |
|
|
|
1,117 |
|
Professional fees |
|
|
281 |
|
|
|
327 |
|
|
|
98 |
|
|
|
208 |
|
|
|
544 |
|
|
|
608 |
|
|
|
997 |
|
Amortization of intangibles |
|
|
425 |
|
|
|
234 |
|
|
|
364 |
|
|
|
365 |
|
|
|
360 |
|
|
|
659 |
|
|
|
717 |
|
FDIC premiums and assessments |
|
|
423 |
|
|
|
320 |
|
|
|
330 |
|
|
|
321 |
|
|
|
257 |
|
|
|
743 |
|
|
|
475 |
|
Merger expense |
|
|
2,014 |
|
|
|
379 |
|
|
|
596 |
|
|
|
- |
|
|
|
- |
|
|
|
2,393 |
|
|
|
- |
|
Divestiture expense |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
153 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Other operating expense |
|
|
2,928 |
|
|
|
2,727 |
|
|
|
2,341 |
|
|
|
2,998 |
|
|
|
2,775 |
|
|
|
5,655 |
|
|
|
5,136 |
|
Total noninterest expense |
|
$ |
24,671 |
|
|
$ |
20,813 |
|
|
$ |
20,730 |
|
|
$ |
21,145 |
|
|
$ |
21,255 |
|
|
$ |
45,484 |
|
|
$ |
41,241 |
|
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED
EARNINGS (Unaudited) |
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
(Amounts in
thousands, |
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|
June 30, |
|
|
June 30, |
|
except per share data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
2022 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Net income |
|
$ |
9,814 |
|
|
$ |
11,782 |
|
|
$ |
12,583 |
|
|
$ |
13,351 |
|
|
$ |
11,213 |
|
|
$ |
21,596 |
|
|
$ |
20,728 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss (gain) on sale of securities |
|
|
28 |
|
|
|
(7 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
21 |
|
|
|
- |
|
Merger expense |
|
|
2,014 |
|
|
|
379 |
|
|
|
596 |
|
|
|
- |
|
|
|
- |
|
|
|
2,393 |
|
|
|
- |
|
Day 2 provision for allowance
for credit losses - Surrey |
|
|
1,614 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Divestiture expense |
|
|
0 |
|
|
|
- |
|
|
|
- |
|
|
|
153 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Gain on divestiture |
|
|
0 |
|
|
|
- |
|
|
|
- |
|
|
|
(1,658 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Other items (1) |
|
|
0 |
|
|
|
- |
|
|
|
(450 |
) |
|
|
- |
|
|
|
(92 |
) |
|
|
1,614 |
|
|
|
(92 |
) |
Total adjustments |
|
|
3,656 |
|
|
|
372 |
|
|
|
146 |
|
|
|
(1,505 |
) |
|
|
(92 |
) |
|
|
4,028 |
|
|
|
(92 |
) |
Tax effect |
|
|
522 |
|
|
|
10 |
|
|
|
(29 |
) |
|
|
(361 |
) |
|
|
(22 |
) |
|
|
532 |
|
|
|
(22 |
) |
Adjusted earnings,
non-GAAP |
|
$ |
12,948 |
|
|
$ |
12,144 |
|
|
$ |
12,758 |
|
|
$ |
12,207 |
|
|
$ |
11,143 |
|
|
$ |
25,092 |
|
|
$ |
20,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted diluted earnings per
common share, non-GAAP |
|
$ |
0.70 |
|
|
$ |
0.75 |
|
|
$ |
0.78 |
|
|
$ |
0.74 |
|
|
$ |
0.67 |
|
|
$ |
1.45 |
|
|
$ |
1.23 |
|
Performance ratios,
non-GAAP |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted return on average
assets |
|
|
1.56 |
% |
|
|
1.60 |
% |
|
|
1.61 |
% |
|
|
1.49 |
% |
|
|
1.37 |
% |
|
|
1.58 |
% |
|
|
1.29 |
% |
Adjusted return on average
common equity |
|
|
10.61 |
% |
|
|
11.49 |
% |
|
|
12.16 |
% |
|
|
11.52 |
% |
|
|
10.55 |
% |
|
|
11.02 |
% |
|
|
9.76 |
% |
Adjusted return on average
tangible common equity (2) |
|
|
15.37 |
% |
|
|
16.69 |
% |
|
|
17.93 |
% |
|
|
16.92 |
% |
|
|
15.46 |
% |
|
|
15.98 |
% |
|
|
14.27 |
% |
__________
(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 June 30, |
|
|
|
2023 |
|
|
2022 |
|
|
|
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) |
|
$ |
2,570,477 |
|
|
$ |
31,997 |
|
|
|
4.99 |
% |
|
$ |
2,273,844 |
|
|
$ |
25,714 |
|
|
|
4.54 |
% |
Securities available for sale |
|
|
318,263 |
|
|
|
2,099 |
|
|
|
2.65 |
% |
|
|
280,823 |
|
|
|
1,597 |
|
|
|
2.28 |
% |
Interest-bearing deposits |
|
|
63,322 |
|
|
|
885 |
|
|
|
5.61 |
% |
|
|
377,931 |
|
|
|
769 |
|
|
|
0.82 |
% |
Total earning assets |
|
|
2,952,062 |
|
|
|
34,981 |
|
|
|
4.75 |
% |
|
|
2,932,598 |
|
|
|
28,080 |
|
|
|
3.84 |
% |
Other assets |
|
|
382,162 |
|
|
|
|
|
|
|
|
|
|
|
331,774 |
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
3,334,224 |
|
|
|
|
|
|
|
|
|
|
$ |
3,264,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
stockholders' equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Demand deposits |
|
$ |
712,943 |
|
|
$ |
34 |
|
|
|
0.02 |
% |
|
$ |
698,978 |
|
|
$ |
29 |
|
|
|
0.02 |
% |
Savings deposits |
|
|
861,315 |
|
|
|
1,306 |
|
|
|
0.61 |
% |
|
|
895,370 |
|
|
|
67 |
|
|
|
0.03 |
% |
Time deposits |
|
|
282,229 |
|
|
|
590 |
|
|
|
0.84 |
% |
|
|
331,555 |
|
|
|
326 |
|
|
|
0.39 |
% |
Total interest-bearing
deposits |
|
|
1,856,487 |
|
|
|
1,930 |
|
|
|
0.42 |
% |
|
|
1,925,903 |
|
|
|
422 |
|
|
|
0.09 |
% |
Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds purchased |
|
|
5,927 |
|
|
|
76 |
|
|
|
5.14 |
% |
|
|
- |
|
|
|
- |
|
|
|
0.00 |
% |
Retail repurchase agreements |
|
|
1,693 |
|
|
|
1 |
|
|
|
0.06 |
% |
|
|
2,105 |
|
|
|
1 |
|
|
0.08 |
% |
Total borrowings |
|
|
7,620 |
|
|
|
77 |
|
|
|
4.05 |
% |
|
|
2,105 |
|
|
|
1 |
|
|
0.08 |
% |
Total interest-bearing
liabilities |
|
|
1,864,107 |
|
|
|
2,007 |
|
|
|
0.43 |
% |
|
|
1,928,008 |
|
|
|
423 |
|
|
|
0.09 |
% |
Noninterest-bearing demand
deposits |
|
|
939,902 |
|
|
|
|
|
|
|
|
|
|
|
874,507 |
|
|
|
|
|
|
|
|
|
Other liabilities |
|
|
40,705 |
|
|
|
|
|
|
|
|
|
|
|
38,106 |
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
2,844,714 |
|
|
|
|
|
|
|
|
|
|
|
2,840,621 |
|
|
|
|
|
|
|
|
|
Stockholders' equity |
|
|
489,510 |
|
|
|
|
|
|
|
|
|
|
|
423,751 |
|
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
$ |
3,334,224 |
|
|
|
|
|
|
|
|
|
|
$ |
3,264,372 |
|
|
|
|
|
|
|
|
|
Net interest income,
FTE(1) |
|
|
|
|
|
$ |
32,974 |
|
|
|
|
|
|
|
|
|
|
$ |
27,657 |
|
|
|
|
|
Net interest rate spread |
|
|
|
|
|
|
|
|
|
|
4.32 |
% |
|
|
|
|
|
|
|
|
|
|
3.75 |
% |
Net interest margin,
FTE(1) |
|
|
|
|
|
|
|
|
|
|
4.48 |
% |
|
|
|
|
|
|
|
|
|
|
3.78 |
% |
__________
(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
$884 thousand and $870 thousand for the
three months ended June 30, 2023 and 2022,
respectively. |
AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS
(Unaudited) |
|
|
|
|
|
Six Months Ended June 30, |
|
|
|
2023 |
|
|
2022 |
|
|
|
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) |
|
$ |
2,482,606 |
|
|
$ |
59,695 |
|
|
|
4.85 |
% |
|
$ |
2,237,128 |
|
|
$ |
50,412 |
|
|
|
4.54 |
% |
Securities available for
sale |
|
|
317,503 |
|
|
|
4,239 |
|
|
|
2.69 |
% |
|
|
211,285 |
|
|
|
2,397 |
|
|
|
2.29 |
% |
Interest-bearing deposits |
|
|
52,219 |
|
|
|
1,350 |
|
|
|
5.21 |
% |
|
|
460,864 |
|
|
|
1,018 |
|
|
|
0.45 |
% |
Total earning assets |
|
|
2,852,328 |
|
|
|
65,284 |
|
|
|
4.62 |
% |
|
|
2,909,277 |
|
|
|
53,827 |
|
|
|
3.73 |
% |
Other assets |
|
|
352,643 |
|
|
|
|
|
|
|
|
|
|
|
330,003 |
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
3,204,971 |
|
|
|
|
|
|
|
|
|
|
$ |
3,239,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
stockholders' equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Demand deposits |
|
$ |
689,823 |
|
|
|
60 |
|
|
|
0.02 |
% |
|
$ |
689,149 |
|
|
$ |
57 |
|
|
|
0.02 |
% |
Savings deposits |
|
|
844,459 |
|
|
|
1,790 |
|
|
|
0.43 |
% |
|
|
888,371 |
|
|
|
133 |
|
|
|
0.03 |
% |
Time deposits |
|
|
276,752 |
|
|
|
798 |
|
|
|
0.58 |
% |
|
|
339,186 |
|
|
|
718 |
|
|
|
0.43 |
% |
Total interest-bearing
deposits |
|
|
1,811,034 |
|
|
|
2,648 |
|
|
|
0.29 |
% |
|
|
1,916,706 |
|
|
|
908 |
|
|
|
0.10 |
% |
Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds purchased |
|
|
5,326 |
|
|
|
135 |
|
|
|
5.11 |
% |
|
|
- |
|
|
|
- |
|
|
|
0.00 |
% |
Retail repurchase
agreements |
|
|
1,889 |
|
|
|
1 |
|
|
|
0.06 |
% |
|
|
2,050 |
|
|
|
1 |
|
|
|
0.08 |
% |
Total borrowings |
|
|
7,215 |
|
|
|
136 |
|
|
|
3.80 |
% |
|
|
2,050 |
|
|
|
1 |
|
|
|
0.08 |
% |
Total interest-bearing
liabilities |
|
|
1,818,249 |
|
|
|
2,784 |
|
|
|
0.31 |
% |
|
|
1,918,756 |
|
|
|
909 |
|
|
|
0.10 |
% |
Noninterest-bearing demand
deposits |
|
|
889,253 |
|
|
|
|
|
|
|
|
|
|
|
855,321 |
|
|
|
|
|
|
|
|
|
Other liabilities |
|
|
38,204 |
|
|
|
|
|
|
|
|
|
|
|
38,529 |
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
2,745,706 |
|
|
|
|
|
|
|
|
|
|
|
2,812,606 |
|
|
|
|
|
|
|
|
|
Stockholders' equity |
|
|
459,265 |
|
|
|
|
|
|
|
|
|
|
|
426,674 |
|
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
$ |
3,204,971 |
|
|
|
|
|
|
|
|
|
|
$ |
3,239,280 |
|
|
|
|
|
|
|
|
|
Net interest income,
FTE(1) |
|
|
|
|
|
$ |
62,500 |
|
|
|
|
|
|
|
|
|
|
$ |
52,918 |
|
|
|
|
|
Net interest rate spread |
|
|
|
|
|
|
|
|
|
|
4.31 |
% |
|
|
|
|
|
|
|
|
|
|
3.64 |
% |
Net interest margin,
FTE(1) |
|
|
|
|
|
|
|
|
|
|
4.42 |
% |
|
|
|
|
|
|
|
|
|
|
3.67 |
% |
___________
(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 $1.08 million and
$1.74 million for the six months ended June 30,
2023 and 2022, respectively. |
CONDENSED CONSOLIDATED QUARTERLY BALANCE SHEETS
(Unaudited) |
|
|
|
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|
June 30, |
|
(Amounts in thousands, except
per share data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
2022 |
|
|
2022 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
152,660 |
|
|
$ |
92,385 |
|
|
$ |
170,846 |
|
|
$ |
229,095 |
|
|
$ |
398,242 |
|
Debt securities available for
sale |
|
|
314,373 |
|
|
|
308,269 |
|
|
|
300,349 |
|
|
|
299,620 |
|
|
|
287,767 |
|
Loans held for investment, net
of unearned income |
|
|
2,621,073 |
|
|
|
2,388,897 |
|
|
|
2,400,197 |
|
|
|
2,362,733 |
|
|
|
2,299,798 |
|
Allowance for credit losses |
|
|
(36,177 |
) |
|
|
(30,789 |
) |
|
|
(30,556 |
) |
|
|
(29,388 |
) |
|
|
(29,749 |
) |
Loans held for investment,
net |
|
|
2,584,896 |
|
|
|
2,358,108 |
|
|
|
2,369,641 |
|
|
|
2,333,345 |
|
|
|
2,270,049 |
|
Premises and equipment,
net |
|
|
53,546 |
|
|
|
47,407 |
|
|
|
47,340 |
|
|
|
47,891 |
|
|
|
49,752 |
|
Other real estate owned |
|
|
339 |
|
|
|
481 |
|
|
|
703 |
|
|
|
559 |
|
|
|
579 |
|
Interest receivable |
|
|
10,185 |
|
|
|
8,646 |
|
|
|
9,279 |
|
|
|
8,345 |
|
|
|
8,433 |
|
Goodwill |
|
|
143,946 |
|
|
|
129,565 |
|
|
|
129,565 |
|
|
|
129,565 |
|
|
|
129,565 |
|
Other intangible assets |
|
|
16,217 |
|
|
|
3,942 |
|
|
|
4,176 |
|
|
|
4,541 |
|
|
|
4,905 |
|
Other assets |
|
|
115,275 |
|
|
|
102,869 |
|
|
|
103,673 |
|
|
|
107,838 |
|
|
|
109,085 |
|
Total assets |
|
$ |
3,391,437 |
|
|
$ |
3,051,672 |
|
|
$ |
3,135,572 |
|
|
$ |
3,160,799 |
|
|
$ |
3,258,377 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing |
|
$ |
974,995 |
|
|
$ |
823,297 |
|
|
$ |
872,168 |
|
|
$ |
878,423 |
|
|
$ |
877,962 |
|
Interest-bearing |
|
|
1,877,683 |
|
|
|
1,761,327 |
|
|
|
1,806,647 |
|
|
|
1,831,798 |
|
|
|
1,920,577 |
|
Total deposits |
|
|
2,852,678 |
|
|
|
2,584,624 |
|
|
|
2,678,815 |
|
|
|
2,710,221 |
|
|
|
2,798,539 |
|
Securities sold under
agreements to repurchase |
|
|
1,348 |
|
|
|
1,866 |
|
|
|
1,874 |
|
|
|
1,958 |
|
|
|
2,635 |
|
Interest, taxes, and other
liabilities |
|
|
38,691 |
|
|
|
33,451 |
|
|
|
32,898 |
|
|
|
36,362 |
|
|
|
39,157 |
|
Total liabilities |
|
|
2,892,717 |
|
|
|
2,619,941 |
|
|
|
2,713,587 |
|
|
|
2,748,541 |
|
|
|
2,840,331 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock |
|
|
18,969 |
|
|
|
16,243 |
|
|
|
16,225 |
|
|
|
16,273 |
|
|
|
16,502 |
|
Additional paid-in
capital |
|
|
189,917 |
|
|
|
128,666 |
|
|
|
128,508 |
|
|
|
129,914 |
|
|
|
136,705 |
|
Retained earnings |
|
|
304,295 |
|
|
|
300,047 |
|
|
|
292,971 |
|
|
|
285,096 |
|
|
|
276,499 |
|
Accumulated other
comprehensive loss |
|
|
(14,461 |
) |
|
|
(13,225 |
) |
|
|
(15,719 |
) |
|
|
(19,025 |
) |
|
|
(11,660 |
) |
Total stockholders'
equity |
|
|
498,720 |
|
|
|
431,731 |
|
|
|
421,985 |
|
|
|
412,258 |
|
|
|
418,046 |
|
Total liabilities and
stockholders' equity |
|
$ |
3,391,437 |
|
|
$ |
3,051,672 |
|
|
$ |
3,135,572 |
|
|
$ |
3,160,799 |
|
|
$ |
3,258,377 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding at
period-end |
|
|
18,969,281 |
|
|
|
16,243,551 |
|
|
|
16,225,399 |
|
|
|
16,273,177 |
|
|
|
16,502,144 |
|
Book value per common
share |
|
$ |
26.29 |
|
|
$ |
26.58 |
|
|
$ |
26.01 |
|
|
$ |
25.33 |
|
|
$ |
25.33 |
|
Tangible book value per common
share(1) |
|
|
17.85 |
|
|
|
18.36 |
|
|
|
17.76 |
|
|
|
17.09 |
|
|
|
17.18 |
|
___________
(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) |
|
|
|
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|
June 30, |
|
(Amounts in thousands) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
2022 |
|
|
2022 |
|
Allowance for Credit Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of
year: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses -
loans |
|
$ |
30,789 |
|
|
$ |
30,556 |
|
|
$ |
29,388 |
|
|
$ |
29,749 |
|
|
$ |
28,981 |
|
Allowance for credit losses -
loan commitments (1) |
|
|
964 |
|
|
|
1,196 |
|
|
|
1,416 |
|
|
|
956 |
|
|
|
775 |
|
Total allowance for credit
losses beginning of year |
|
|
31,753 |
|
|
|
31,752 |
|
|
|
30,804 |
|
|
|
30,705 |
|
|
|
29,756 |
|
Adjustments to beginning
balance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses -
loans - Surrey acquisition for purchased credit deteriorated
loans |
|
|
2,011 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Allowance for credit losses -
loan commitments (1) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Net Adjustments |
|
|
2,011 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Provision for credit
losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for credit losses -
loans |
|
|
4,105 |
|
|
|
1,974 |
|
|
|
3,416 |
|
|
|
685 |
|
|
|
510 |
|
(Recovery of) provision for
credit losses - loan commitments (1) |
|
|
- |
|
|
|
(232 |
) |
|
|
(220 |
) |
|
|
460 |
|
|
|
181 |
|
Total provision for credit
losses - loans and loan commitments |
|
|
4,105 |
|
|
|
1,742 |
|
|
|
3,196 |
|
|
|
1,145 |
|
|
|
691 |
|
Charge-offs |
|
|
(1,993 |
) |
|
|
(2,570 |
) |
|
|
(2,873 |
) |
|
|
(2,158 |
) |
|
|
(1,469 |
) |
Recoveries |
|
|
1,265 |
|
|
|
829 |
|
|
|
625 |
|
|
|
1,112 |
|
|
|
1,727 |
|
Net (charge-offs)
recoveries |
|
|
(728 |
) |
|
|
(1,741 |
) |
|
|
(2,248 |
) |
|
|
(1,046 |
) |
|
|
258 |
|
Balance at end of period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses -
loans |
|
|
36,177 |
|
|
|
30,789 |
|
|
|
30,556 |
|
|
|
29,388 |
|
|
|
29,749 |
|
Allowance for credit losses -
loan commitments (1) |
|
|
964 |
|
|
|
964 |
|
|
|
1,196 |
|
|
|
1,416 |
|
|
|
956 |
|
Ending balance |
|
$ |
37,141 |
|
|
$ |
31,753 |
|
|
$ |
31,752 |
|
|
$ |
30,804 |
|
|
$ |
30,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans |
|
$ |
18,628 |
|
|
$ |
15,557 |
|
|
$ |
15,208 |
|
|
$ |
15,303 |
|
|
$ |
17,826 |
|
Accruing loans past due 90
days or more |
|
|
- |
|
|
|
23 |
|
|
|
142 |
|
|
|
131 |
|
|
|
131 |
|
Modified loans past due 90
days or more (2) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Troubled debt restructurings
("TDRs") (3) |
|
|
- |
|
|
|
- |
|
|
|
1,346 |
|
|
|
1,331 |
|
|
|
515 |
|
Total nonperforming loans |
|
|
18,628 |
|
|
|
15,580 |
|
|
|
16,696 |
|
|
|
16,765 |
|
|
|
18,472 |
|
OREO |
|
|
339 |
|
|
|
481 |
|
|
|
703 |
|
|
|
559 |
|
|
|
579 |
|
Total nonperforming
assets |
|
$ |
18,967 |
|
|
$ |
16,061 |
|
|
$ |
17,399 |
|
|
$ |
17,324 |
|
|
$ |
19,051 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional
Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total modified loans (2) |
|
$ |
642 |
|
|
$ |
429 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
Total accruing TDRs (4) |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,112 |
|
|
$ |
7,028 |
|
|
$ |
8,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Quality
Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming loans to total
loans |
|
|
0.71 |
% |
|
|
0.65 |
% |
|
|
0.70 |
% |
|
|
0.71 |
% |
|
|
0.80 |
% |
Nonperforming assets to total
assets |
|
|
0.56 |
% |
|
|
0.53 |
% |
|
|
0.55 |
% |
|
|
0.55 |
% |
|
|
0.58 |
% |
Allowance for credit losses to
nonperforming loans |
|
|
194.21 |
% |
|
|
197.62 |
% |
|
|
183.01 |
% |
|
|
175.29 |
% |
|
|
161.05 |
% |
Allowance for credit losses to
total loans |
|
|
1.38 |
% |
|
|
1.29 |
% |
|
|
1.27 |
% |
|
|
1.24 |
% |
|
|
1.29 |
% |
Annualized net charge-offs
(recoveries) to average loans |
|
|
0.11 |
% |
|
|
0.29 |
% |
|
|
0.37 |
% |
|
|
0.18 |
% |
|
|
-0.05 |
% |
_________
(1 |
) |
Prior quarter information for
loan commitments has been reclassed for presentation purposes. |
(2 |
) |
ASU 2022-02, Financial
Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings
and Vintage Disclosures. ASU adopted effective January 1,
2023. |
(3 |
) |
Accruing TDRs restructured within
the past six months or nonperforming as reported prior to the
adoption of ASU 2022-02 Financial Instruments-Credit Losses (Topic
326), Troubled Debt Restructurings and Vintage Disclosures. |
(4 |
) |
Accruing total TDRs as reported
prior to the adoption of ASU 2022-02 Financial Instruments-Credit
Losses (Topic 326), Troubled Debt Restructurings and Vintage
Disclosures. |
FOR MORE INFORMATION,
CONTACT: David D. Brown (276) 326-9000
Grafico Azioni First Community Bancshares (NASDAQ:FCBC)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni First Community Bancshares (NASDAQ:FCBC)
Storico
Da Set 2023 a Set 2024