First Community Bankshares, Inc. Completes Acquisition of Hometown Bancshares, Inc.

First Community Bankshares completes acquisition of Hometown Bancshares, enhancing its presence in West Virginia.

Quiver AI Summary

First Community Bankshares, Inc. has successfully acquired Hometown Bancshares, Inc. and its subsidiary, Union Bank, effective January 23, 2026. The merger, initially announced on July 19, 2025, integrates Union Bank into First Community Bank, marking the bank's expansion into West Virginia, where Hometown had eight branches that will now operate under the First Community brand. Hometown shareholders will receive shares of First Community stock as part of the agreement. The acquisition is expected to enhance First Community's deposit base and offer customers greater products and services. Both companies' leadership expressed optimism about the future benefits of the merger for customers, employees, and shareholders, aiming to strengthen their presence in the region.

Potential Positives

First Community Bankshares successfully completed the acquisition of Hometown Bancshares, enhancing its market presence in West Virginia.
The merger increases First Community Bank's total assets significantly, providing a robust foundation for future growth.
The acquisition is expected to bolster First Community's low-cost core deposits and expand its product offerings to customers.
The transition of Hometown’s eight branches to First Community Bank reflects strategic growth and commitment to community banking in local markets.

Potential Negatives

The press release includes a forward-looking statement that warns of various risks and uncertainties, which could negatively impact the company's future performance.
The mention of the challenge in managing asset/liability levels and credit risk suggests potential financial concerns following the acquisition.
The need to keep expense growth modest while increasing revenues implies that there could be future financial pressures affecting the company’s profitability.

FAQ

What is the recent acquisition by First Community Bankshares?

First Community Bankshares has acquired Hometown Bancshares and its subsidiary, Union Bank, effective January 23, 2026.

When will the new branches open?

The Hometown Bancshares branches will open as First Community Bank branches on January 26, 2026.

How will shareholders benefit from the merger?

Hometown shareholders will receive 11.706 shares of First Community common stock for each share of Hometown common stock.

What is First Community Bankshares' strategy with this acquisition?

This acquisition aligns with First Community’s focus on growing low-cost core deposits and expanding its presence in West Virginia.

How many banking locations does First Community Bank operate?

As of December 31, 2025, First Community Bank operates 52 branch locations across Virginia, West Virginia, North Carolina, and Tennessee.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$FCBC Insider Trading Activity

$FCBC insiders have traded $FCBC stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $FCBC stock by insiders over the last 6 months:

DAVID D BROWN (Chief Financial Officer) purchased 150 shares for an estimated $5,400

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FCBC Revenue

$FCBC had revenues of $42.2M in Q3 2025. This is an increase of 0.33% from the same period in the prior year.

You can track FCBC financials on Quiver Quantitative's FCBC stock page.

$FCBC Hedge Fund Activity

We have seen 59 institutional investors add shares of $FCBC stock to their portfolio, and 55 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BLACKROCK, INC. removed 47,545 shares (-3.2%) from their portfolio in Q3 2025, for an estimated $1,654,565
TWO SIGMA INVESTMENTS, LP added 39,241 shares (+inf%) to their portfolio in Q3 2025, for an estimated $1,365,586
AQR CAPITAL MANAGEMENT LLC added 35,196 shares (+234.4%) to their portfolio in Q3 2025, for an estimated $1,224,820
VANGUARD GROUP INC added 33,184 shares (+3.3%) to their portfolio in Q3 2025, for an estimated $1,154,803
RENAISSANCE TECHNOLOGIES LLC removed 25,147 shares (-33.6%) from their portfolio in Q3 2025, for an estimated $875,115
GOLDMAN SACHS GROUP INC added 23,659 shares (+116.5%) to their portfolio in Q3 2025, for an estimated $823,333
MARSHALL WACE, LLP added 20,805 shares (+206.8%) to their portfolio in Q3 2025, for an estimated $724,013

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

BLUEFIELD, Va., Jan. 26, 2026 (GLOBE NEWSWIRE) -- First Community Bankshares, Inc. (NASDAQ: FCBC) ( www.firstcommunitybank.com ) (the “Company”), parent company of First Community Bank, announced today that it has completed the acquisition of Hometown Bancshares, Inc., (“Hometown”) and Hometown’s wholly owned subsidiary, Union Bank, Inc. The acquisition became effective at the close of business on January 23, 2026. First Community and Hometown previously announced an agreement to merge on July 19, 2025.

The completed acquisition included the merger of Union Bank into First Community Bank. Hometown’s eight branch locations in West Virginia will open as First Community Bank branches the morning of January 26, 2026. Under the terms of the merger agreement, Hometown’s shareholders will receive 11.706 shares of First Community common stock for each share of Hometown common stock.

This merger aligns with First Community’s strategic focus on growing low-cost core deposits and positions the combined entity to expand its presence in the Parkersburg-Marietta-Vienna MSA. “First Community has a 150-year history of community banking excellence in West Virginia. Our partnership with Hometown and Union Bank is a natural expansion into West Virginia markets that are similar in size and makeup to the locations where we’ve had great success across our broader banking footprint. We look forward to bringing the two franchises together to better serve our customers and local communities,” said Gary R. Mills, President and CEO of First Community Bank.

“We are pleased to announce our partnership with Union Bank. This collaboration will further strengthen our robust banking franchise in West Virginia. We believe First Community will benefit from Union’s strong deposit base, while Union’s customers will enjoy the advantages of increased scale, higher lending limits, and enhanced product and technology offerings from First Community,” said William (Will) P. Stafford, II, Chairman and Chief Executive Officer of First Community.

At the end of December 2025, Hometown had approximately $415 million in total assets, $172 in total loans and $376 million in total deposits. Commenting on the transaction, Hometown’s President, Timothy Aiken offered, “We are excited about the opportunity to bring FCBC and Hometown together. The transaction will accelerate our ability to grow, and we believe creates an exciting opportunity for our shareholders and employees. The Hometown board of directors believes FCBC is well positioned and has significant upside opportunity through stock price appreciation. The FCBC platform will allow Hometown to better serve our existing customers and communities, as well as expand into other product offerings. We admire the historical success of the FCBC team and look forward to working together.

About First Community Bankshares, Inc.

First Community Bankshares, Inc., a financial holding company headquartered in Bluefield, Virginia, provides banking products and services through its wholly owned subsidiary First Community Bank. First Community Bank operated 52 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee as of December 31, 2025. First Community Bank offers wealth management and investment advice and services through its Trust Division and through its wholly owned subsidiary, First Community Wealth Management, which collectively managed and administered $1.79 billion in combined assets as of December 31, 2025. The Company reported consolidated assets of $3.26 billion as of December 31, 2025. The Company’s common stock is listed on the NASDAQ Global Select Market under the trading symbol, “FCBC”. Additional investor information is available on the Company’s website at www.firstcommunitybank.com.

This news release may include forward-looking statements. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may differ materially. These risks include: changes in business or other market conditions; the timely development, production and acceptance of new products and services; the challenge of managing asset/liability levels; the management of credit risk and interest rate risk; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company ’ s Securities and Exchange Commission reports including, but not limited to, the Annual Report on Form 10-K for the most recent fiscal year end. Pursuant to the Private Securities Litigation Reform Act of 1995, the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made .

FOR MORE INFORMATION, CONTACT:
David D. Brown
(276) 326-9000