2016 Q3 Form 10-Q Financial Statement

#000119312516760195 Filed on November 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $23.62M $24.35M
YoY Change -2.99% -5.45%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.180M $1.310M
YoY Change -9.92% 2.34%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $2.500M $2.679M
YoY Change -6.68% -28.29%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $9.613M $9.343M
YoY Change 2.89% -12.29%
Income Tax $3.230M $3.084M
% Of Pretax Income 33.6% 33.01%
Net Earnings $6.383M $6.259M
YoY Change 1.98% -11.13%
Net Earnings / Revenue 27.02% 25.71%
Basic Earnings Per Share $0.37 $0.34
Diluted Earnings Per Share $0.37 $0.34
COMMON SHARES
Basic Shares Outstanding 17.03M 18.47M shares
Diluted Shares Outstanding 17.08M 18.50M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $65.93M $62.02M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $50.56M $53.44M
YoY Change -5.39% -9.85%
Goodwill $101.8M $100.8M
YoY Change 0.96% -4.59%
Intangibles $7.964M $5.583M
YoY Change 42.65% 139.2%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.450B $2.478B
YoY Change -1.12% -2.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.60M $25.40M
YoY Change 4.72% 1.2%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $118.5M $124.1M
YoY Change -4.51% 8.48%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.60M $25.40M
YoY Change 4.72% 1.2%
LONG-TERM LIABILITIES
Long-Term Debt $15.70M $16.00M
YoY Change -1.88% 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $15.70M $16.00M
YoY Change -1.88% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.60M $25.40M
Total Long-Term Liabilities $15.70M $16.00M
Total Liabilities $2.113B $2.133B
YoY Change -0.96% -3.16%
SHAREHOLDERS EQUITY
Retained Earnings $166.7M $152.0M
YoY Change 9.63% 10.09%
Common Stock $21.38M $21.38M
YoY Change 0.0% 4.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $78.79M $52.48M
YoY Change 50.12% 46.57%
Treasury Stock Shares 4.393M shares 3.068M shares
Shareholders Equity $337.5M $344.8M
YoY Change
Total Liabilities & Shareholders Equity $2.450B $2.478B
YoY Change -1.12% -2.82%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $6.383M $6.259M
YoY Change 1.98% -11.13%
Depreciation, Depletion And Amortization $1.180M $1.310M
YoY Change -9.92% 2.34%
Cash From Operating Activities $9.410M $19.36M
YoY Change -51.39% 26.87%
INVESTING ACTIVITIES
Capital Expenditures -$450.0K -$380.0K
YoY Change 18.42% -74.32%
Acquisitions
YoY Change
Other Investing Activities $91.86M -$23.83M
YoY Change -485.48% -172.99%
Cash From Investing Activities $91.41M -$24.21M
YoY Change -477.57% -177.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -79.19M -25.71M
YoY Change 208.01% -31.02%
NET CHANGE
Cash From Operating Activities 9.410M 19.36M
Cash From Investing Activities 91.41M -24.21M
Cash From Financing Activities -79.19M -25.71M
Net Change In Cash 21.63M -30.56M
YoY Change -170.78% -433.99%
FREE CASH FLOW
Cash From Operating Activities $9.410M $19.36M
Capital Expenditures -$450.0K -$380.0K
Free Cash Flow $9.860M $19.74M
YoY Change -50.05% 17.92%

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LoansAndLeasesReceivableAllowance
20233000
CY2015Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
1421748000
CY2015Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
78000
CY2015Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
251000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
21382000
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
227692000
CY2015Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
451511000
CY2015Q4 us-gaap Longterm Federal Home Loan Bank Advances Noncurrent
LongtermFederalHomeLoanBankAdvancesNoncurrent
65000000
CY2015Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
235302000
CY2015Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
2371000
CY2015Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
17808000
CY2015Q4 us-gaap Deposits
Deposits
1873259000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4355000
CY2015Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
15756000
CY2015Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
219370000
CY2015Q4 us-gaap Interest Bearing Domestic Deposit Certificates Of Deposits
InterestBearingDomesticDepositCertificatesOfDeposits
408519000
CY2015Q4 us-gaap Interest Bearing Domestic Deposit Money Market
InterestBearingDomesticDepositMoneyMarket
213982000
CY2015Q4 us-gaap Interest Bearing Domestic Deposit Other Time Deposit
InterestBearingDomesticDepositOtherTimeDeposit
134939000
CY2015Q4 us-gaap Interest Bearing Domestic Deposit Savings
InterestBearingDomesticDepositSavings
316603000
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
10027000
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
10571000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
10571000
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
109950000
CY2015Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
37383000
CY2015Q4 us-gaap Fdic Indemnification Asset
FDICIndemnificationAsset
20844000
CY2015Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
18494000
CY2015Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
72541000
CY2015Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
50574000
CY2015Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
129000
CY2015Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
11534000
CY2015Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
22835000
CY2015Q4 us-gaap Other Assets
OtherAssets
91224000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52756000
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
229388000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51787000
CY2015Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
29698000
CY2015Q4 us-gaap Federal Funds Sold
FederalFundsSold
13498000
CY2015Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
22718000
CY2015Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
11184000
CY2015Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2015Q4 us-gaap Held To Maturity Securities Amortized Cost Before Other Than Temporary Impairment
HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment
72541000
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5243000
CY2015Q4 fcbc Residential Real Estate Loans In Foreclosure Process
ResidentialRealEstateLoansInForeclosureProcess
2727000
CY2015Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1623506000
CY2015Q4 us-gaap Other Real Estate
OtherRealEstate
8907000
CY2015Q4 us-gaap Other Real Estate Covered
OtherRealEstateCovered
4034000
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
372389000
CY2015Q4 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
236730000
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
544000
CY2015Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
25079000
CY2015Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
129000
CY2015Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
50574000
CY2015Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
11558000
CY2015Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
906000
CY2015Q4 us-gaap Interest Receivable
InterestReceivable
6007000
CY2015Q4 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
1686308000
CY2015Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount Covered
LoansAndLeasesReceivableGrossCarryingAmountCovered
83035000
CY2015Q4 us-gaap Assets
Assets
2462276000
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
366173000
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
119438000
CY2015Q4 us-gaap Derivative Assets
DerivativeAssets
0
CY2015Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1681462000
CY2015Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
15301000
CY2015Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
22718000
CY2015Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1641181000
CY2015Q4 us-gaap Goodwill
Goodwill
100486000
CY2015Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
72490000
CY2015Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
0
CY2015Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
11277000
CY2015Q4 us-gaap Other Real Estate Non Covered
OtherRealEstateNonCovered
4873000
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
56457000
CY2015Q4 fcbc Weighted Average Rate Of Retail Repurchase Agreements
WeightedAverageRateOfRetailRepurchaseAgreements
0.0013 pure
CY2015Q4 fcbc Reserve For Unfunded Credit Commitments
ReserveForUnfundedCreditCommitments
326000
CY2015Q4 fcbc Impaired Loans With Related Investment Related Allowance
ImpairedLoansWithRelatedInvestmentRelatedAllowance
2371000
CY2015Q4 fcbc Loans And Leases Receivable Net Reported Amount Covered And Not Covered Percentage
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCoveredPercentage
1.0000 pure
CY2015Q4 fcbc Acquired Impaired Loans Evaluated For Impairment
AcquiredImpairedLoansEvaluatedForImpairment
42642000
CY2015Q4 fcbc Loans And Leases Receivable Gross Carrying Amount Covered Percentage
LoansAndLeasesReceivableGrossCarryingAmountCoveredPercentage
0.0487 pure
CY2015Q4 fcbc Debt Instrument Carrying Amount Of Other
DebtInstrumentCarryingAmountOfOther
292000
CY2015Q4 fcbc Allowance For Loan Losses
AllowanceForLoanLosses
590000
CY2015Q4 fcbc Impaired Loans With No Related Investment Related Allowance
ImpairedLoansWithNoRelatedInvestmentRelatedAllowance
0
CY2015Q4 fcbc Loans And Leases Receivable Net Of Deferred Income Covered And Not Covered
LoansAndLeasesReceivableNetOfDeferredIncomeCoveredAndNotCovered
1706541000
CY2015Q4 fcbc Other Real Estate Owned Secured By Residential Real Estate Non Covered
OtherRealEstateOwnedSecuredByResidentialRealEstateNonCovered
2677000
CY2015Q4 fcbc Percentage Of Combined Depreciation Of Combined Reported Value Of Aggregate Securities Portfolio
PercentageOfCombinedDepreciationOfCombinedReportedValueOfAggregateSecuritiesPortfolio
0.0244 pure
CY2015Q4 fcbc Interest Taxes And Other Liabilities
InterestTaxesAndOtherLiabilities
26630000
CY2015Q4 fcbc Allowance For Acquired Impaired Loans Evaluated
AllowanceForAcquiredImpairedLoansEvaluated
54000
us-gaap Real Estate Owned Valuation Allowance Period Increase Decrease
RealEstateOwnedValuationAllowancePeriodIncreaseDecrease
1359000
us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
2367 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18895909 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18644679 shares
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-29000
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
882096 shares
CY2015Q4 fcbc Number Of Securities In Unrealized Loss Position
NumberOfSecuritiesInUnrealizedLossPosition
107 Securities
CY2015Q4 fcbc Deferred Loan Fees
DeferredLoanFees
3780000
CY2015Q4 fcbc Loans Held For Investment Net Of Unearned Incomes
LoansHeldForInvestmentNetOfUnearnedIncomes
0.9513 pure
CY2016Q3 fcbc Weighted Average Contractual Maturity Period
WeightedAverageContractualMaturityPeriod
P2Y26D
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
130382 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
2 Contract
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
48781000
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
22561 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1018726 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
251230 shares
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
5 Contract
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
15
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3000 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
17.13
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
223201 shares
us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
18275 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
191000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
919000
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-1279000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
17478000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
219000
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
88000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
1808000
us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
246000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-405000
us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
100000
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
423000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-26000
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
151000
us-gaap Fees And Commissions Other
FeesAndCommissionsOther
5987000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
91000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-5872000
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
6994000
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
2989000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
2842000
us-gaap Net Income Loss
NetIncomeLoss
18392000
us-gaap Interest Paid
InterestPaid
9167000
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-2538000
us-gaap Fdic Indemnification Asset Cash Payments Received
FDICIndemnificationAssetCashPaymentsReceived
2411000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
20259000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
6975000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
43000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
81540000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7447000
us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
16823000
us-gaap Other Operating Income
OtherOperatingIncome
3367000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2993000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax
-98000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
63578000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
61821000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
72425000
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
5336000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6900000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
523000
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
439000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
2231000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
41000
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
316000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
15003000
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
2367000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
245000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1867000
us-gaap Noninterest Income
NoninterestIncome
22047000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18287000
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3167000
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
3013000
us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
65999000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
26780000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
10154000
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
292000
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
141000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
7447000
us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
431000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8388000
us-gaap Interest Expense
InterestExpense
8847000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-72683000
us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
-122149000
us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
24292000
us-gaap Noninterest Expense
NoninterestExpense
57088000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-147000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
1122000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
105000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
266000
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
-28746000
us-gaap Share Based Compensation
ShareBasedCompensation
43000
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
2367000
us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
1828000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAdditions
2000
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
105000
us-gaap Equipment Expense
EquipmentExpense
3854000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
5000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
1181000
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
342000
us-gaap Interest Expense Deposits
InterestExpenseDeposits
4676000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
29357000
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
18531000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-59000
us-gaap Restricted Stock Expense
RestrictedStockExpense
191000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
2940000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
20842000
us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
IncreaseDecreaseInFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchaseNet
2334000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-151734000
us-gaap Occupancy Net
OccupancyNet
4404000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
15667000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-59000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
17478000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1702000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
837000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-175636000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications To From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToFromNonaccretableDifference
3808000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
3143000
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
342000
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
12100000
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
8742000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
1486000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2685000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
151000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
12701000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
41000
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
5365000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
22350000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
190000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1757000
us-gaap Stock Option Plan Expense
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316000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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127789 shares
us-gaap Transfer To Other Real Estate
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5179000
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1757000
fcbc Provision Benefit For Loan Losses
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fcbc Allowance For Loan And Lease Loss Recovery Of Provision For Bad Debts
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fcbc Loans To Finance Purchase Of Real Estate
LoansToFinancePurchaseOfRealEstate
37000
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PortionOfLossRecognizedInOtherComprehensiveIncome
0
fcbc Provision For Recovery Of Loan Losses Recorded Through Fdic Indemnification Asset
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fcbc Merger Acquisition And Divestiture Expense
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86000
fcbc Fdic Indemnification Reimbursable Expenses Accrued
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409000
fcbc Proceeds From Federal Deposit Insurance Corporation
ProceedsFromFederalDepositInsuranceCorporation
2411000
fcbc Allowance For Recovery Of Provision For Loan And Lease Losses
AllowanceForRecoveryOfProvisionForLoanAndLeaseLosses
1728000
fcbc Accretion On Acquired Loans
AccretionOnAcquiredLoans
5439000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Type
DocumentType
10-Q
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
dei Entity Central Index Key
EntityCentralIndexKey
0000859070
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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34790000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Reclassifications and Corrections</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Certain amounts reported in prior years have been reclassified to conform to the current year&#x2019;s presentation. These reclassifications had no effect on the Company&#x2019;s results of operations, financial position, or cash flow.</p> </div>
us-gaap Real Estate Owned Valuation Allowance Period Increase Decrease
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851000
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1152776 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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41805 shares
dei Trading Symbol
TradingSymbol
FCBC
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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17475211 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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17433406 shares
dei Amendment Flag
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false
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
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us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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15587 shares
us-gaap Basis Of Accounting
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b>Note 1.&#xA0;Basis of Presentation</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b><i>General</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> First Community Bancshares, Inc. (the &#x201C;Company&#x201D;) is a financial holding company headquartered in Bluefield, Virginia that provides banking products and services to individuals and commercial customers through its wholly-owned subsidiary, First Community Bank (the &#x201C;Bank&#x201D;), a Virginia-chartered banking institution. The Bank operates 45 branches in 4 states as First Community Bank in Virginia, West Virginia, and North Carolina and under the trade name People&#x2019;s Community Bank, a Division of First Community Bank, in Tennessee. The Bank offers personal and commercial insurance products and services from certain branch locations through First Community Insurance Services (&#x201C;FCIS&#x201D;) in Virginia and West Virginia. The Bank offers wealth management services and investment advice through its Trust Division and wholly-owned subsidiary First Community Wealth Management (&#x201C;FCWM&#x201D;). The Trust Division and FCWM managed $767 million in combined assets as of September 30, 2016. These assets are not assets of the Company, but are managed under various fee-based arrangements as fiduciary or agent. The Company reported consolidated assets of $2.45 billion as of September 30, 2016. The Company operates in one business segment, Community Banking, which consists of all operations, including commercial and consumer banking, lending activities, wealth management, and insurance services. Unless the context suggests otherwise, the term &#x201C;Company&#x201D; refers to First Community Bancshares, Inc. and its subsidiaries as a consolidated entity.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company prepared the accompanying unaudited condensed consolidated financial statements in accordance with generally accepted accounting principles (&#x201C;GAAP&#x201D;) in the United States for interim financial information and with the instructions to&#xA0;<font style="WHITE-SPACE: nowrap">Form&#xA0;10-Q</font>&#xA0;and Article 10 of Regulation S-X. The Company eliminated all significant intercompany balances and transactions in consolidation and, in management&#x2019;s option, made all adjustments, including normal recurring accruals, necessary for a fair presentation. Assets held in an agency or fiduciary capacity are not assets of the Company and are not included in the Company&#x2019;s consolidated balance sheets. Operating results for the interim period are not necessarily indicative of the results that may be expected for the full calendar year.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The condensed consolidated balance sheet as of December 31, 2015, has been derived from the audited consolidated financial statements included in the Company&#x2019;s Annual Report on Form 10-K (the &#x201C;2015 Form 10-K&#x201D;), as filed with the Securities and Exchange Commission (the &#x201C;SEC&#x201D;) on March 4, 2016. Certain information and footnote disclosures normally included in annual consolidated financial statements were omitted in accordance with standards for the preparation of interim consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company&#x2019;s 2015 Form 10-K.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b><i>Significant Accounting Policies</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> A complete and detailed description of the Company&#x2019;s significant accounting policies is included in Note 1, &#x201C;Summary of Significant Accounting Policies,&#x201D; of the Notes to Consolidated Financial Statements in Part II, Item 8 of the Company&#x2019;s 2015 Form 10-K. A discussion of the Company&#x2019;s application of critical accounting estimates is included in &#x201C;Critical Accounting Estimates&#x201D; in Item 2 of this report.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b><i>Recent Accounting Pronouncements</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In August 2016, the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued Accounting Standards Update (&#x201C;ASU&#x201D;) 2016-15, &#x201C;Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.&#x201D; The update will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 will be effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017, with early adoption permitted. The update should be applied on a retrospective basis unless it is impracticable to apply, in which case the update would be applied prospectively as of the earliest date practicable. The Company is currently evaluating the impact that ASU 2016-15 will have on its financial position, results of operations, and cash flows.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In June 2016, the FASB issued ASU 2016-13, &#x201C;Financial Instruments &#x2014; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.&#x201D; The new guidance is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The new guidance requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization&#x2019;s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. The Company is currently evaluating the impact that ASU 2016-13 will have on its financial position, results of operations, and cash flows.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In March 2016, the FASB issued ASU 2016-09, &#x201C;Compensation &#x2014; Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.&#x201D; The new guidance is intended to simplify several aspects of the accounting for share-based payment award transactions including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that ASU 2016-09 will have on its financial position, results of operations, and cash flows and does not expect this guidance to have a material effect on its financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In February 2016, the FASB issued ASU 2016-02, &#x201C;Leases (Topic 842).&#x201D; The new guidance is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and requiring more disclosures related to leasing transactions. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that ASU 2016-02 will have on its financial position, results of operations, and cash flows and does not expect this guidance to have a material effect on its financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> In January 2016, the FASB issued ASU 2016-01, &#x201C;Financial Instruments &#x2014; Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.&#x201D; The update amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Although the new guidance retains many current requirements, it significantly revises an entity&#x2019;s accounting related to (1)&#xA0;the classification and measurement of investments in equity securities and (2)&#xA0;the presentation of certain fair value changes for financial liabilities measured at fair value. The new guidance also amends certain disclosure requirements associated with the fair value of financial instruments. ASU 2016-01 will be effective for fiscal years and interim periods within those fiscal years beginning after December&#xA0;15, 2017, with early adoption permitted for certain changes. The Company is currently evaluating the impact that ASU 2016-01 will have on its financial position, results of operations, and cash flows.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The Company does not expect other recent accounting standards issued by the FASB or other standards-setting bodies to have a material impact on the consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b><i>Reclassifications and Corrections</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> Certain amounts reported in prior years have been reclassified to conform to the current year&#x2019;s presentation. These reclassifications had no effect on the Company&#x2019;s results of operations, financial position, or cash flow.</p> </div>
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
us-gaap Earnings Per Share Basic
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1.07
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
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us-gaap Number Of Operating Segments
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dei Entity Registrant Name
EntityRegistrantName
FIRST COMMUNITY BANCSHARES INC /NV/
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Gain Loss On Sale Of Business
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5390000
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us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Income Taxes Paid Net
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6488000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Fees And Commissions Depositor Accounts
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us-gaap Available For Sale Securities Gross Realized Gains
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us-gaap Available For Sale Securities Gross Realized Losses
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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