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First Community (NASDAQ:FCCO) Bankshares (NASDAQ:FCBC) Chief Financial Officer David D. Brown reported purchasing 150 shares of common stock on August 1, 2025. The shares were bought at a price of $36, amounting to a total transaction value of $5,400. The purchase comes as the stock trades near its 52-week low of $33.88, with InvestingPro analysis suggesting the stock is currently undervalued.
Brown also acquired 2,786 shares of phantom stock at $35.77 per share. These shares, payable in cash or common stock upon termination of employment, are held indirectly through a 401k wrap.
Additionally, Brown acquired 150 shares of First Community Bankshares through an IRA.
Following these transactions, Brown directly owns 12,676 shares of common stock. He also indirectly holds 1,800 shares through an IRA and 4,789 shares through an Employee Stock Ownership & Savings Plan.
Brown also holds derivative securities, including 3,132 Restricted Stock Units (RSUs) that vest on May 23, 2026, 2,427 RSUs that vest on May 29, 2027 and 2,332 Restricted Stock Unit that vest on May 28, 2028. He also holds 4,455 in stock options.
In other recent news, First Community Bankshares reported a net income of $12.25 million for the second quarter of 2025, equating to $0.67 per diluted common share. This marks a decrease of 3.47% compared to the same quarter in 2024. Additionally, for the first six months of 2025, the company recorded a net income of $24.06 million, which is a 5.75% decline from the previous year. In another development, First Community Bankshares announced a merger agreement with Hometown Bancshares valued at approximately $41.5 million. As part of the deal, First Community will acquire Hometown and its banking subsidiary, Union Bank. Each Hometown common stock share will be converted into 11.706 shares of First Community common stock. These recent developments reflect significant financial and strategic moves by First Community Bankshares.
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