First Community Bankshares Full Year 2023 Earnings: In Line With Expectations
First Community Bankshares (NASDAQ:FCBC) Full Year 2023 Results
Key Financial Results
Revenue: US$157.2m (up 9.7% from FY 2022).
Net income: US$48.0m (up 2.9% from FY 2022).
Profit margin: 31% (down from 33% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: US$2.67.
FCBC Banking Performance Indicators
Net interest margin (NIM): 4.44% (up from 3.92% in FY 2022).
Non-performing loans: 0.76% (up from 0.70% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Community Bankshares Meets Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.
In the last 12 months, the only revenue segment was Community Banking contributing US$157.2m. The largest operating expense was General & Administrative costs, amounting to US$71.2m (65% of total expenses). Explore how FCBC's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 5.8% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 1.2% from a week ago.
Risk Analysis
Be aware that First Community Bankshares is showing 2 warning signs in our investment analysis and 1 of those can't be ignored...
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