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First Community reports 16% drop in net income

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JOURNAL STAFF AND WIRE REPORT

Published: July 25, 2008

BLUEFIELD, Va. -- First Community Bancshares Inc. reported Wednesday that its net income was down 16 percent to $6.2 million in the second quarter compared with the second quarter of 2007.

Diluted earnings were down 10 cents to 56 cents a share.

Revenue from loans was down 2 percent to $16.6 million, and revenue from fees rose 39 percent to $7.7 million, primarily from wealth-management, trust and service charges. The bank had a provision for loan losses of $937,000 in the second quarter compared with no provision a year ago.

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First Community reports 16% drop in net income

JOURNAL STAFF AND WIRE REPORT