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First Community Bankshares
First Community Bankshares is the holding company for First Community Bank, a community bank operating 60+ branches in Virginia and West Virginia since...
First Community Bankshares
First Community Bankshares, Inc. is the holding company for First Community Bank, a community banking institution with a history that traces back to 1874. Headquartered in Bluefield, Virginia, the bank has been a mainstay financial provider for communities straddling the West Virginia–Virginia border. Its operations are concentrated in a region historically defined by coal extraction and rail transport, and the bank has maintained deep relationships with businesses and individuals throughout these rural and small-town economies. The bank delivers a traditional community banking strategy, focusing on spread-based lending funded by local deposits. Its loan portfolio includes commercial real estate, one-to-four family residential mortgages, construction and land development, commercial and industrial loans, and various consumer installment products. Confirmed market areas include the counties of Mercer, Tazewell, and surrounding jurisdictions in West Virginia and Virginia. The bank also offers wealth management services through its trust department, providing fiduciary, investment management, and estate planning services to local families and businesses. First Community Bankshares pursues growth through organic expansion and selective acquisitions of smaller community banks within or adjacent to its existing market area. The company operates through a network of banking locations in Virginia and West Virginia, and has expanded its footprint by opening de novo branches and acquiring branches from other institutions. The bank emphasizes its local decision-making and community reinvestment activities, participating in programs that support small business development and affordable housing in its region. Its long-term strategy involves managing interest-rate risk and credit concentrations within a relatively narrow economic geography. Structurally, First Community stands apart from the dominant national and super-regional banks by maintaining its charter as a locally governed community bank. Its decisions on lending, pricing, and branch operations are made by executives who reside within the service area, a governance model that prioritizes relationship longevity over portfolio scale. This local-control structure is central to its brand and competitive positioning against larger out-of-state banks operating in the same towns.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Bluefield
Corporate office
Bluefield, VA, United States
Frequently asked questions
What is the primary geographic footprint of First Community Bankshares?
The bank operates across southern West Virginia and southwestern Virginia, in a region anchored historically by the coal and railroad industries. Its branches serve rural communities and small towns in counties including Mercer and Tazewell. The bank has expanded its presence over time through de novo branching and acquisitions of local bank branches, but has not expanded beyond its core two-state footprint. This geographic concentration is its defining characteristic as a community bank.
How does First Community Bankshares fund its lending operations?
The bank funds its loan portfolio primarily through core deposits — checking accounts, savings accounts, money market accounts, and certificates of deposit — gathered from retail and business customers within its branch network. As a community bank, it does not rely on wholesale funding or capital markets to a significant degree. This deposit-funded model is typical of regional banks of its size and is central to its conservative, spread-based profitability strategy.
Is First Community Bankshares involved in wealth management or trust services?
Yes, First Community Bank operates a trust and wealth management division that provides fiduciary services, estate administration, investment management, and financial planning. These services are offered to individuals, families, and businesses within its local market and are a standard complement to its commercial and retail banking lines. The trust department allows the bank to deepen relationships with its depositors and borrowers.
What is the lending focus of First Community Bankshares?
The bank's loan portfolio consists of commercial real estate loans, residential mortgages, construction and land development loans, commercial and industrial loans, and various consumer loans. Its lending is overwhelmingly concentrated within its branch footprint in Virginia and West Virginia. The bank underwrites locally, with credit decisions made by officers who are familiar with the regional economic conditions and borrower histories.
How has First Community Bankshares pursued growth?
Growth has come through a combination of organic market penetration and acquisition of banking branches from other institutions. The bank has also expanded by establishing new branch locations, known as de novo branches, within its established geography. It has not pursued aggressive national expansion or transformational mergers; instead, its transactions have been small, fill-in acquisitions that reinforce its existing market presence.
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