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Regulatory Capital Requirements and Restrictions | 12 Months Ended
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Dec. 31, 2015
Regulatory Capital Requirements and Restrictions |
Note 21. | Regulatory Capital Requirements and Restrictions
The Company and the Bank are subject to various regulatory capital requirements administered by state and federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under the capital adequacy guidelines and the regulatory framework for prompt corrective action, which applies only to the Bank, the Bank must meet specific capital guidelines that involve quantitative measures of the entity’s balance sheet assets and off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Basel III Capital Rules became effective on January 1, 2015, subject to a four-year phase-in period. Quantitative measures established by the Basel III Capital Rules to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of common equity Tier 1 capital, total capital, and Tier 1 capital, as defined in the regulations, to risk-weighted assets, as defined, and of Tier 1 capital to adjusted quarterly average assets, as defined. The following table presents actual and required capital ratios as of December 31, 2015, under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum capital levels as of December 31, 2015, based on the phase-in provisions of the Basel III Capital Rules and the minimum required capital levels as of January 1, 2019, when the Basel III Capital Rules are fully phased in. A detailed description of the Basel III Capital Rules is included in Item 1, “Capital Adequacy Requirements” in Part I of this report.
|  | December 31, 2015 |
|  | Actual |  |  | Minimum Capital Required-Basel III Phase-In Schedule |  |  | Minimum Capital Required-Basel III Fully Phased-In |  |  | To Be Well Capitalized Under Prompt Corrective Action Provisions |
(Amounts in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
Common Equity Tier 1 Ratio |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  | $ | 246,237 |  |  |  | 14.54 | % |  | $ | 76,196 |  |  |  | 4.50 | % |  | $ | 118,527 |  |  |  | 7.00 | % |  |  | NA |  |  |  | NA |
First Community Bank |  |  | 228,669 |  |  |  | 13.60 | % |  |  | 75,682 |  |  |  | 4.50 | % |  |  | 117,728 |  |  |  | 7.00 | % |  |  | 109,319 |  |  |  | 6.50 | %
Total Capital to Risk-Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  |  | 269,998 |  |  |  | 15.95 | % |  |  | 135,459 |  |  |  | 8.00 | % |  |  | 177,791 |  |  |  | 10.50 | % |  |  | NA |  |  |  | NA |
First Community Bank |  |  | 249,228 |  |  |  | 14.82 | % |  |  | 134,546 |  |  |  | 8.00 | % |  |  | 176,592 |  |  |  | 10.50 | % |  |  | 168,183 |  |  |  | 10.00 | %
Tier 1 Capital to Risk-Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  |  | 249,436 |  |  |  | 14.73 | % |  |  | 101,595 |  |  |  | 6.00 | % |  |  | 143,926 |  |  |  | 8.50 | % |  |  | NA |  |  |  | NA |
First Community Bank |  |  | 228,669 |  |  |  | 13.60 | % |  |  | 100,910 |  |  |  | 6.00 | % |  |  | 142,955 |  |  |  | 8.50 | % |  |  | 134,546 |  |  |  | 8.00 | %
Tier 1 Capital to Average Assets (Leverage) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  |  | 249,436 |  |  |  | 10.62 | % |  |  | 93,935 |  |  |  | 4.00 | % |  |  | 93,935 |  |  |  | 4.00 | % |  |  | NA |  |  |  | NA |
First Community Bank |  |  | 228,669 |  |  |  | 9.77 | % |  |  | 93,616 |  |  |  | 4.00 | % |  |  | 93,616 |  |  |  | 4.00 | % |  |  | 117,020 |  |  |  | 5.00 | %
The following table presents the Company’s and the Bank’s actual and required capital ratios as of December 31, 2014, under the regulatory capital rules then in effect.
|  | December 31, 2014 |
|  | Actual |  |  | For Capital Adequacy Purposes |  |  | To Be Well Capitalized Under Prompt Corrective Action Provisions |
(Amounts in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
Total Capital to Risk-Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  | $ | 284,999 |  |  |  | 17.68 | % |  | $ | 128,962 |  |  |  | 8.00 | % |  |  | N/A |  |  |  | N/A |
First Community Bank |  |  | 251,256 |  |  |  | 15.73 | % |  |  | 127,761 |  |  |  | 8.00 | % |  | $ | 159,701 |  |  |  | 10.00 | %
Tier 1 Capital to Risk-Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  |  | 264,838 |  |  |  | 16.43 | % |  |  | 64,481 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
First Community Bank |  |  | 231,286 |  |  |  | 14.48 | % |  |  | 63,881 |  |  |  | 4.00 | % |  |  | 95,821 |  |  |  | 6.00 | %
Tier 1 Capital to Average Assets (Leverage) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bancshares, Inc. |  |  | 264,838 |  |  |  | 10.12 | % |  |  | 104,679 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
First Community Bank |  |  | 231,286 |  |  |  | 8.87 | % |  |  | 104,330 |  |  |  | 4.00 | % |  |  | 130,412 |  |  |  | 5.00 | %
As of December 31, 2015, the Company and the Bank continued to meet all capital adequacy requirements. As of December 31, 2015, the most recent notifications from regulators continued to categorize the Bank as well capitalized under the regulatory framework for prompt corrective action. Management believes there have been no conditions or events since those notifications that would change the Bank’s classification. Additionally, our capital ratios were in excess of the minimum standards under the Basel III Capital Rules on a fully phased-in basis, if such requirements were in effect, as of December 31, 2015. The primary source of funds for dividends paid by the Company to shareholders is dividends received from the Bank, which are subject to banking regulation restrictions. Approval by regulatory authorities is required to declare dividends if the dividends are to be paid in something other than cash, if the cumulative dividend payment exceeds the net retained income of the current year to date plus the retained net income of the preceding two years, or if payment of the dividend would cause the Bank to become undercapitalized.

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958572-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958574-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65071-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958569-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958570-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958575-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958568-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826 + Details
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