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v3.20.1

Note 2 - Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2020
Notes Tables |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
|  | As recorded by |  |  | Fair Value |  |  |  | As recorded by |
(Amounts in thousands) |  | Highlands |  |  | Adjustments |  |  |  | the Company |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 25,879 |  |  | $ | - |  |  |  | $ | 25,879 |
Securities available for sale |  |  | 53,732 |  |  |  | - |  |  |  |  | 53,732 |
Loans held for sale |  |  | 263 |  |  |  | - |  |  |  |  | 263 |
Loans held for investment, net of allowance and mark |  |  | 438,896 |  |  |  | (11,429 | ) | ( a ) |  |  | 427,467 |
Premises and equipment |  |  | 16,722 |  |  |  | (2,317 | ) | ( b ) |  |  | 14,405 |
Other real estate |  |  | 1,963 |  |  |  | - |  |  |  |  | 1,963 |
Other assets |  |  | 25,556 |  |  |  | 2,250 |  | ( c ) |  |  | 27,806 |
Intangible assets |  |  | - |  |  |  | 4,490 |  | ( d ) |  |  | 4,490 |
Total assets |  | $ | 563,011 |  |  | $ | (7,006 | ) |  |  | $ | 556,005 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing |  | $ | 155,714 |  |  | $ | - |  |  |  | $ | 155,714 |
Interest-bearing |  |  | 346,028 |  |  |  | 1,261 |  | ( e ) |  |  | 347,289 |
Total deposits |  |  | 501,742 |  |  |  | 1,261 |  |  |  |  | 503,003 |
Long term debt |  |  | 40 |  |  |  | - |  |  |  |  | 40 |
Other liabilities |  |  | 2,938 |  |  |  | 198 |  | ( f ) |  |  | 3,136 |
Total liabilities |  |  | 504,720 |  |  |  | 1,459 |  |  |  |  | 506,179 |
Net identifiable assets acquired over (under) liabilities assumed |  |  | 58,291 |  |  |  | (8,465 | ) |  |  |  | 49,826 |
Goodwill |  |  | - |  |  |  | 36,821 |  |  |  |  | 36,821 |
Net assets acquired over liabilities assumed |  | $ | 58,291 |  |  | $ | 28,356 |  |  |  | $ | 86,647 |
Consideration: |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bankshares, Inc. common |  |  |  |  |  |  |  |  |  |  |  | 2,792,729 |
Purchase price per share of the Company's common stock |  |  |  |  |  |  |  |  |  |  | $ | 31.02 |
Fair value of Company common stock issued |  |  |  |  |  |  |  |  |  |  |  | 86,631 |
Cash paid for fractional shares |  |  |  |  |  |  |  |  |  |  |  | 16 |
Fair Value of total consideration transferred |  |  |  |  |  |  |  |  |  |  | $ | 86,647 |
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | ProForma |  |  | ProForma |
(Dollars in thousands) |  | March 31, 2020 |  |  | March 31, 2019 |
Total revenues (net interest income plus noninterest income) |  | $ | 35,231 |  |  | $ | 37,234 |
Net adjusted income available to the common shareholder |  | $ | 9,360 |  |  | $ | 11,358 |

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