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Note 2 - Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2024
Notes Tables |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
|  | As recorded by |  |  | Fair Value |  |  |  | As recorded by |
(Amounts in thousands, except share and per share data ) |  | Surrey |  |  | Adjustments |  |  |  | the Company |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 176,700 |  |  | $ | - |  |  |  | $ | 176,700 |
Securities-available-for-sale |  |  | 22,027 |  |  |  | (1,093 | ) | ( a ) |  |  | 20,934 |
Loans held for investment, net of allowance and mark |  |  | 251,944 |  |  |  | (12,864 | ) | ( b ) |  |  | 239,080 |
Premises and equipment |  |  | 5,501 |  |  |  | 774 |  | ( c ) |  |  | 6,275 |
Other assets |  |  | 10,787 |  |  |  | (229 | ) | ( d ), ( e ) |  |  | 10,558 |
Intangible assets |  |  | - |  |  |  | 12,700 |  | ( f ) |  |  | 12,700 |
Total assets |  | $ | 466,959 |  |  | $ | (712 | ) |  |  | $ | 466,247 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing |  | $ | 158,389 |  |  | $ | - |  |  |  | $ | 158,389 |
Interest-bearing |  |  | 246,460 |  |  |  | (1,214 | ) | ( g ) |  |  | 245,246 |
Total deposits |  |  | 404,849 |  |  |  | (1,214 | ) |  |  |  | 403,635 |
Long term debt |  |  | - |  |  |  | - |  |  |  |  | - |
Other liabilities |  |  | 6,004 |  |  |  | (381 | ) | ( h ) |  |  | 5,623 |
Total liabilities |  |  | 410,853 |  |  |  | (1,595 | ) |  |  |  | 409,258 |
Net identifiable assets acquired over liabilities assumed |  |  | 56,106 |  |  |  | 883 |  |  |  |  | 56,989 |
Goodwill |  |  | - |  |  |  | 14,381 |  |  |  |  | 14,381 |
Net assets acquired over liabilities assumed |  | $ | 56,106 |  |  | $ | 15,264 |  |  |  | $ | 71,370 |
Consideration: |  |  |  |  |  |  |  |  |  |  |  |  |
First Community Bankshares, Inc. common stock issued |  |  |  |  |  |  |  |  |  |  |  | 2,996,786 |
Purchase price per share of the Company's common stock |  |  |  |  |  |  |  |  |  |  | $ | 23.81 |
Fair value of Company common stock issued |  |  |  |  |  |  |  |  |  |  |  | 71,354 |
Cash paid for fractional shares |  |  |  |  |  |  |  |  |  |  |  | 16 |
Fair Value of total consideration transferred |  |  |  |  |  |  |  |  |  |  | $ | 71,370 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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