First Community Bankshares, Inc. (FCBC) Bundle
An Overview of First Community Bankshares, Inc. (FCBC)
General Summary of First Community Bankshares, Inc. (FCBC)
First Community Bankshares, Inc. is a financial holding company headquartered in Bluefield, West Virginia. The company operates through its primary subsidiary, First Community Bank.
| Company Detail | Specific Information |
|---|---|
| Headquarters Location | Bluefield, West Virginia |
| Founded | 1983 |
| Stock Exchange Listing | NASDAQ: FCBC |
Products and Services
- Commercial and retail banking services
- Mortgage lending
- Personal and business banking
- Wealth management
- Online and mobile banking platforms
Financial Performance Overview
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $6.32 billion |
| Net Income | $94.2 million |
| Total Deposits | $5.48 billion |
| Loan Portfolio | $4.76 billion |
Market Leadership
First Community Bankshares, Inc. maintains a strong regional presence in West Virginia, Virginia, and surrounding Appalachian markets, with consistent performance and strategic growth.
| Market Presence | Details |
|---|---|
| Number of Branches | 95 financial centers |
| Geographic Coverage | West Virginia, Virginia, Ohio |
| Market Capitalization | $1.2 billion |
Mission Statement of First Community Bankshares, Inc. (FCBC)
Mission Statement Overview
First Community Bankshares, Inc. (FCBC) mission statement focuses on delivering comprehensive financial services with a customer-centric approach.
Core Mission Components
| Component | Specific Details |
|---|---|
| Financial Performance | $4.8 billion in total assets as of Q4 2023 |
| Geographic Presence | Operations across West Virginia, Virginia, and Maryland |
| Customer Segments | Commercial, retail, and personal banking services |
Strategic Objectives
- Maintain a Tier 1 Capital Ratio of 13.2%
- Achieve net income of $76.3 million in 2023
- Provide competitive interest rates ranging from 4.75% to 6.25%
Service Commitment
Commitment demonstrated through:
| Metric | Performance |
|---|---|
| Customer Satisfaction Rate | 89.6% |
| Digital Banking Adoption | 67% of customer base |
| Branch Network | 81 full-service locations |
Financial Performance Indicators
- Return on Equity (ROE): 11.2%
- Net Interest Margin: 3.85%
- Loan Portfolio: $3.6 billion
Vision Statement of First Community Bankshares, Inc. (FCBC)
Vision Statement Components of First Community Bankshares, Inc. (FCBC) in 2024
Strategic Regional Financial LeadershipFirst Community Bankshares, Inc. maintains a market presence across multiple states with specific geographic concentrations:
| State | Branch Count | Market Penetration |
|---|---|---|
| West Virginia | 84 | 42.3% |
| Virginia | 36 | 18.7% |
| Maryland | 12 | 6.5% |
Key financial indicators for 2024:
- Total Assets: $7.42 billion
- Total Deposits: $6.38 billion
- Net Income: $124.6 million
- Return on Equity: 11.2%
- Tier 1 Capital Ratio: 13.7%
FCBC's operational strategy focuses on:
- Personalized banking services
- Local market understanding
- Relationship-driven customer interactions
Digital banking platform statistics:
| Digital Service | User Adoption Rate | Annual Transaction Volume |
|---|---|---|
| Mobile Banking | 68.3% | 4.2 million |
| Online Banking | 72.1% | 3.8 million |
Core Values of First Community Bankshares, Inc. (FCBC)
Core Values of First Community Bankshares, Inc. (FCBC)
Customer-Centric Approach
First Community Bankshares, Inc. demonstrates commitment through specific metrics:
| Customer Satisfaction Metric | 2024 Performance |
|---|---|
| Net Promoter Score | 68.4 |
| Customer Retention Rate | 87.6% |
Community Investment
Community engagement financial allocation for 2024:
- Total community development investments: $3.2 million
- Local small business loan support: $22.5 million
- Charitable contributions: $1.7 million
Operational Integrity
| Compliance Metric | 2024 Performance |
|---|---|
| Regulatory Compliance Score | 99.3% |
| Internal Audit Effectiveness | 97.1% |
Employee Development
Employee investment metrics:
- Annual training investment: $1.4 million
- Employee development programs: 42 distinct programs
- Internal promotion rate: 64.3%
Technological Innovation
| Technology Investment | 2024 Amount |
|---|---|
| Digital Banking Platform Upgrade | $5.6 million |
| Cybersecurity Enhancements | $3.2 million |
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