First Community Announces Capital Securities Issuance.Business Editors BLUEFIELD, Va.--(BUSINESS WIRE)--Sept. 25, 2003 First Community Bancshares, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FCBC FCBC Fisheries Council of British Columbia ) announced that it has completed a $15 million capital trust offering. The floating rate capital securities will bear an interest rate of three-month LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). plus 2.95 percent, and will mature on October 8, 2033. The capital securities were issued through a newly formed trust, FCBI FCBI Functional Configuration Baseline Index Capital Trust, in a private transaction. The securities constitute new funding and further strengthen First Community's existing capital. The Placement Agent/Purchaser for the transaction was Sandler O'Neill & Partners, L.P. This press release does not constitute an offer to buy or a solicitation to sell the capital securities. First Community Bancshares, Inc., headquartered in Bluefield, Virginia Bluefield is a town in Tazewell County, Virginia, along the Bluestone River. The population was 5,078 at the 2000 census. It is part of the Bluefield WV-VA micropolitan area which has a population of 107,578. , now has assets of approximately $1.7 billion and is the parent company of First Community Bank, N. A., also headquartered in Bluefield. First Community Bank operates through 47 full-service offices and two trust and investment management offices in the three-state region of Virginia, West Virginia and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . First Community Bank is also the parent company of Stone Capital Management, Inc., a SEC registered investment advisory firm and United First Mortgage, Inc., which operates ten retail mortgage offices throughout Virginia. First Community Bancshares, Inc.'s common stock is traded on the Nasdaq national market under the symbol, "FCBC". DISCLAIMER 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: the timely development, production and acceptance of new products and services and their feature sets; 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recent year ended. Pursuant to the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995, the Company does not undertake to update forward-looking statements contained within this news release. |
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