First Community Bancshares, Inc., a financial holding company, was founded
in 1989 and incorporated under the laws of Nevada in 1997. The Company provides
commercial banking products and services through its wholly owned subsidiary
First Community Bank (the “Bank”), a Virginia-chartered banking
institution founded in 1874. The Bank operates under the trade names First Community
Bank in Virginia, West Virginia, and North Carolina and People’s Community
Bank, a Division of First Community Bank, in Tennessee.
The Company provides insurance services through its wholly owned, full-service
insurance agency subsidiary Greenpoint Insurance Group, Inc. (“Greenpoint”).
Greenpoint operates under the Greenpoint name and under the trade name First
Community Insurance Services (“FCIS”) in North Carolina, Carr &
Hyde Insurance and FCIS in Virginia, and FCIS in West Virginia.
The Bank offers wealth management and investment advice through its wholly owned
subsidiary First Community Wealth Management and the Bank’s Trust Division.
The Company is the common stockholder of FCBI Capital Trust (the “Trust”),
which was created in October 2003 to issue trust preferred securities to raise
capital for the Company.
The Company is a legal entity that is separate and distinct from its affiliates.
As a financial holding company, the Company is required to act as a source of
financial strength for its subsidiary bank. The Company’s principal source
of revenue is derived from dividends paid by the Bank, which are subject to
certain restrictions by regulatory agencies and determined in relation to earnings,
asset growth, and capital position.
We operate in one business segment: Community Banking. The Community Banking
segment consists of commercial and consumer banking, lending activities, wealth
management, and insurance services. Our principal executive office is located
at One Community Place, Bluefield, Virginia. As of December 31, 2015, we operated
58 locations in 4 states: Virginia, West Virginia, North Carolina, and Tennessee.
We serve a diverse base of individuals and businesses across a variety of industries,
such as manufacturing, construction, retail, healthcare, military, and transportation.
We have no material concentrations of deposits or loans related to any single
customer or industry.
We offer a wide range of services and products to our customers:
demand deposit accounts, savings and money market accounts, certificates of
deposit, and individual retirement arrangements;
commercial, consumer, and real estate mortgage loans, and lines of credit;
various credit card, debit card, and automated teller machine card services;
corporate and personal trust services;
investment management services; and
life, health, and property and casualty insurance products.
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