Printer Friendly

First Community Bancshares, Inc. and First Community Bank & Trust Announce Second Quarter Results.

Business Editors

BARGERSVILLE, Ind.--(BUSINESS WIRE)--July 10, 2001

First Community Bancshares, Inc. (OTCBB:FCYB) and its wholly owned subsidiary, First Community Bank & Trust, today reported second-quarter results for 2001.

For the three months ended June 30, 2001, the Company earned $212,000 or 20 cents per basic share, compared with $226,000 or 22 cents per basic share in the second quarter of 2000, a decrease of 6.2 percent. The second quarter of 2001 net income was up $33,000 or 3 cents per share over the first quarter of 2001, an increase of 18.4 percent.

For the six months ending June 30, 2001, the Company earned $391,000 or 38 cents per share compared with $329,000, or 33 cents per basic share for the six months ended June 30, 2000, an increase of $62,000 or 18.8 percent.

Between December 31, 2000, and June 30, 2001, the Company's loan portfolio increased from $123.6 million to $126.8 million, or 2.6 percent; assets increased from $149.2 million to $154.9 million, or 3.8 percent; and total deposits increased from $123.0 million to $125.8 million, or 2.3 percent. Book value per share at June 30, 2001 was $9.34.

A state-chartered financial institution, First Community Bank & Trust has offices in Bargersville, Franklin, Greenwood, Indianapolis, North Vernon, Trafalgar, Whiteland and Edinburgh, Ind.

 FIRST COMMUNITY BANCSHARES, INC.
 UNAUDITED FINANCIAL HIGHLIGHTS
 (IN THOUSANDS)

 THREE MONTHS ENDED SIX MONTHS ENDED
 JUNE 30 JUNE 30
 2001 2000 2001 2000
 ---------- ---------- ---------- ----------

Interest Income $ 2,949 $ 2,792 $ 5,869 $ 5,577
Interest Expense 1,623 1,576 3,336 3,158
 ---------- ---------- ---------- ----------
Net Interest Income 1,326 1,216 2,533 2,419
Provision for
 loan losses 70 55 104 119
 ---------- ---------- ---------- ----------
Net interest income
 after provision
 for loan losses 1,256 1,161 2,429 2,300
Other income 281 188 523 347
Other expenses 1,261 1,068 2,457 2,281
 ---------- ---------- ---------- ----------
Income before
 income taxes 276 281 495 366
Income taxes 64 55 104 37
 ---------- ---------- ---------- ----------
Net income $ 212 $ 226 $ 391 $ 329
 ---------- ---------- ---------- ----------
 ---------- ---------- ---------- ----------
Earnings per share
 Basic $ 0.20 $ 0.22 $ 0.38 $ 0.33
 Diluted $ 0.20 $ 0.21 $ 0.36 $ 0.32

Weighted average
 shares
 Basic 1,041,223 1,014,372 1,040,611 1,013,150
 ---------- ---------- ---------- ----------
 ---------- ---------- ---------- ----------
Dividends declared
 per share $ 0.04 $ 0.04 $ 0.08 $ 0.08
 ---------- ---------- ---------- ----------
 ---------- ---------- ---------- ----------

 June 30, 2001 Dec 31, 2000
 ------------- ------------
Total Assets $154,866 $149,195
Cash and other investments 18,194 15,434
Loans 126,767 123,551
Deposits 125,831 123,008
Shareholder's Equity 9,732 9,316
Book Value 9.34 8.96
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jul 10, 2001
Words:437
Previous Article:Press Advisory From EDG Capital, Inc.
Next Article:Cambridge Trust Company Promotes James Dwinell to Chairman and CEO; Joseph Roller Named President and COO.
Topics:


Related Articles
APPLICATIONS APPROVED UNDER BANK HOLDING COMPANY ACT.
APPLICATIONS APPROVED UNDER BANK HOLDING COMPANY ACT.
APPLICATIONS APPROVED UNDER BANK HOLDING COMPANY ACT: By Federal Reserve Banks.
APPLICATIONS APPROVED UNDER BANK HOLDING COMPANY ACT: By Federal Reserve Banks.
APPLICATIONS APPROVED UNDER BANK HOLDING COMPANY ACT: By Federal Reserve Banks.
APPLICATIONS APPROVED UNDER BANK HOLDING COMPANY ACT: By Federal Reserve Banks.
Applications approved under Bank Holding Company Act: by Federal Reserve Banks. (Legal Developments).
Applications approved under Bank Holding Company Act. (Legal Developments).
Applications approved under Bank Holding Company Act by Federal Reserve Banks. (Legal Developments).
B.E. banks.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters