FONT-SIZE Plus   Neg

First Community Bancshares Q1 Profit Edges Down, Yet Tops Estimates

First Community Bancshares, Inc. (FCBC) reported first-quarter net income available to common shareholders of $5.7 million or $0.31 per share, slightly lower from $5.8 million or $0.32 per share last year.

Excluding items, non-GAAP core earnings was $6.2 million or $0.32 per share, compared to $5.4 million or $0.0.30 per share a year ago.

On average, 4 analysts polled by Thomson Reuters expected earnings of $0.27 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter declined to $18.0 million from $18.2 million a year ago. Net interest margin dropped 5 basis points to 3.91 percent from 3.96 percent last year.

Noninterest income dropped to $8.0 million from $9.5 million in the year-ago quarter.

Analysts expected total revenues of $26.46 million for the quarter.

Provision for loan losses for the quarter reduced to $0.9 million from $1.6 million last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Microsoft Corp. (MSFT) Tuesday unveiled two new smartphones that run on its Windows 10 operating platform, as the software giant strives to revive its beleaguered smartphone business. The Lumia 950 and 950 XL are the first smartphones phones to run on Windows 10. Microsoft hopes that millions... General Mills Inc. (GIS) is voluntarily recalling 1.8 million boxes of "gluten-free" Cheerios and Honey Nut Cheerios manufactured at its Lodi, California facility, as it may contain wheat. Wheat was inadvertently mixed into the gluten free oat flour at its facility in Lodi, California. As a result,... Microsoft (MSFT) has unveiled its latest tablet. The technology giant officially debuted the new Surface Pro 4 at its Windows 10 event, held in New York City on Tuesday. The product, meant to draw customers away from laptops, includes a 12.3 inch screen, with a smaller bezel than its Pro 3 predecessor.
comments powered by Disqus
Follow RTT