# EDGAR Filing Document

**Accession Number:** 0000859070
**File Stem:** 0001437749-26-013643
**Filing Date:** 2026-4
**Character Count:** 31894
**Document Hash:** f74862731fe475de2f0a98238b676743
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-013643.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001437749-26-013643

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260428

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST COMMUNITY BANKSHARES INC /VA/
- **CENTRAL INDEX KEY:** 0000859070
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 550694814
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-19297
- **FILM NUMBER:** 26907495

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 989
- **CITY:** BLUEFIELD
- **STATE:** VA
- **ZIP:** 24605
- **BUSINESS PHONE:** 3043236300

**MAIL ADDRESS:**
- **STREET 1:** 29 COLLEGE DRIVE
- **STREET 2:** P O BOX 989
- **CITY:** BLUEFIELD
- **STATE:** VA
- **ZIP:** 24605

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST COMMUNITY BANCSHARES INC /NV/
- **DATE OF NAME CHANGE:** 19971121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FCFT INC
- **DATE OF NAME CHANGE:** 19930328

?xml version='1.0' encoding='ASCII'? fcbc20260310_8k.htm

---

| |
|:---|
| **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** |
| **Washington, D.C. 20549** |
| **FORM**8-K** |
| **CURRENT REPORT**  |
| **Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934** |
| Date of Report (Date of earliest event reported): **April 28, 2026** |
| **FIRST COMMUNITY BANKSHARES, INC.** |

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| | | |
|:---|:---|:---|
| (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) |
| **Virginia** | **000-19297** | **55-0694814** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
| **P.O. Box 989**<br> **Bluefield**,**Virginia** |  | **24605-0989** |
| (Address of principal executive offices) |  | (Zip Code) |
| Registrant's telephone number, including area code: **(**276**)**326-9000** | Registrant's telephone number, including area code: **(**276**)**326-9000** | Registrant's telephone number, including area code: **(**276**)**326-9000** |
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
| ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** |

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| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Common Stock ($1.00 par value) FCBC | NASDAQ Global Select |

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| |
|:---|
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). |
| Emerging growth company ☐ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ |

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

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On April 28, 2026, First Community Bankshares, Inc. (the "Company") announced by press release its earnings for the first quarter of 2026. A copy of the press release is attached hereto as Exhibit 99.1.

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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On April 28, 2026, the Company announced by press release its quarterly cash dividend to common shareholders of thirty-one cents, $0.31 per common share, payable on or about May 29, 2026, to shareholders of record on May 15, 2026.

A copy of the press release is attached hereto as Exhibit 99.1.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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| | |
|:---|:---|
| (d) | The following exhibit is included with this report: |
| Exhibit No. | Exhibit Description |
| 99.1<br> 104 | [Earnings release dated April 28, 2026.](ex_931050.htm)<br> Cover Page Interactive Data File (formatted as Inline XBRL). |

---

**Forward-Looking Statements**

This Current Report on Form 8-K contains 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 year ended. 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.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
| | | FIRST COMMUNITY BANKSHARES, INC. | FIRST COMMUNITY BANKSHARES, INC. |
| Date: | April 28, 2026 | By: | /s/ David D. Brown |
|  |  |  | David D. Brown |
|  |  |  | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| ![ex_505116img001.jpg](ex_505116img001.jpg) | ![ex_505116img001.jpg](ex_505116img001.jpg) |
| **NEWS RELEASE** | **NEWS RELEASE** |
| **FOR IMMEDIATE RELEASE:** | **FOR MORE INFORMATION, CONTACT:** |
|  | David D. Brown |
|  | (276) 326-9000 |

---

**First Community Bankshares, Inc. Announces First Quarter 2026 Results and Quarterly Cash Dividend**

Bluefield, Virginia – First Community Bankshares, Inc. (NASDAQ: FCBC) (<u>www.firstcommunitybank.com</u>) (the "Company") today reported its unaudited results of operations and other financial information for the quarter ended March 31, 2026. The Company reported net income of $12.03 million, or $0.63 per diluted common share, for the quarter ended March 31, 2026. When adjusted to exclude the impact of merger-related expenses associated with the acquisition of Hometown Bancshares, Inc and non-recurring expenses, net income was $13.83 million, or $0.73 per diluted common share.

The Company also declared a quarterly cash dividend to common shareholders of thirty-one cents, $0.31, per common share. The quarterly dividend is payable to common shareholders of record on May 15, 2026, and is expected to be paid on May 29, 2026. 2026 marks the 41st consecutive year of regular dividends to common shareholders and 2025 represented the 16th consecutive year of regular dividend increases.

On January 23, 2026, the Company completed the acquisition of Middlebourne, West Virginia-based, Hometown Bancshares, Inc. and its wholly owned subsidiary, Union Bank, Inc.

**First Quarter 2026 Highlights**

**Income Statement**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Net income of $12.03 million for the first quarter of 2026, was an increase of $209 thousand, or 1.77%, from the same quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o When adjusted for merger and non-recurring expenses, net income of $13.83 million was an increase of $2.01 million, or 17.02%, from the same period in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Net interest margin remained strong at 4.37% in the first quarter of 2026, up 3 basis points from the first quarter of 2025. Net interest rate spread increased 11 basis points to 4.05%, driving a $3.05 million, or 10.02%, increase in tax-equivalent net interest income. The improvement was primarily driven by an increase in the average balance of interest earnings assets and lower funding cost yields. Average earning assets increased $263.04 million, or 9.26%, contributing $2.67 million in additional interest income, while the yield of interest-bearing deposits declined 19 basis points, reducing interest expense by $393 thousand, or 8.07%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Net interest income after provision for loan losses increased $2.94 million, or 9.80%, compared to March 31, 2025. The increase is attributable to an increase in average earnings assets and decreased funding costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Noninterest income increased approximately $1.23 million, or 12.00%, when compared to the same quarter of 2025 . The increase is attributable primarily to an increase in other services charges and fees of $603 thousand, or 18.05%, and service charges on deposits of $349 thousand, or 9.10%. Noninterest expense increased $3.79 million, or 15.21%, when compared to the same period of 2025. The increase is attributable to merger expenses of $2.31 million and an increase in salaries and benefits of $1.03 million, or 7.74%. The merger expense is related to the recent acquisition of Hometown Bancshares, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Annualized return on average assets ("ROA") was 1.39% for the first quarter of 2026 compared to 1.49% for the same period of 2025 . Annualized return on average common equity ("ROE") was 9.29% for the first quarter of 2026 compared to 9.49% for the same period of 2025 .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o When adjusted for merger and non-recurring expenses, ROA was 1.60% for the first quarter of 2026 and ROE was 10.69%. Return on average tangible common equity continues to remain strong at 15.48% for the first quarter of 2026.

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**Balance Sheet and Asset Quality**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Company completed the strategic acquisition of Hometown Bancshares, Inc., on January 23, 2026. Total assets of $393.81 million were acquired in the transaction increasing the Company's consolidated assets to $3.64 billion on March 31, 2026 . In addition, the Company issued 1.03 million common shares in the purchase resulting in an increase in capital of $35.07 million. The purchase transaction created $1.73 million in goodwill and $8.59 million in other intangible assets. Other major balance sheet components increased in the transaction with $171.04 million acquired loans and $357.72 million in deposits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Company's loan portfolio increased $141.27 million, or 6.10% from yearend 2025. Excluding the Hometown transaction, the loan portfolio decreased approximately $29.77 million, or 1.29%. Loan production for the first quarter of 2026 was $105.07 million, an increase of $27.16 million over first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Deposits increased $379.06 million, or 14.12% from December 31, 2025. Excluding the Hometown transaction, deposits increased $21.33 million, or 0.79%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Company repurchased 504,652 common shares for a total cost of $20.33 million during the first quarter of 2026. Shares repurchase activity was suspended in the third quarter of 2025 in anticipation of the acquisition of Hometown Bancshares, Inc. and resumed upon its completion in the first quarter of 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Non-performing loans to total loans decreased to 0.72%, a 0.12% reduction when compared with the same quarter of 2025. The Company experienced net charge-offs for the first quarter of 2026 of $731 thousand, or 0.12%, of annualized average loans, compared to net charge-offs of $1.39 million, or 0.24% , of annualized average loans for the same period in 2025 .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The allowance for credit losses increased $2.78 million, primarily driven by the $3.21 million impact of the Hometown transaction. The allowance for credit losses to total loans was 1.37% on March 31, 2026, compared to 1.42% on March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Book value per share on March 31, 2026 , was $27.64 , an increase of $0.34 from year-end 2025 .

**Non-GAAP Financial Measures**

In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this news release include "tangible book value per common share," "return on average tangible common equity," "adjusted earnings," "adjusted diluted earnings per share," "adjusted return on average assets," "adjusted return on average common equity," "adjusted return on average tangible common equity," and certain financial measures presented on a fully taxable equivalent ("FTE") basis. FTE basis is calculated using the federal statutory income tax rate of 21%. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as a reconciliation to that comparable GAAP financial measure can be found in the attached tables to this press release. While the Company believes certain non-GAAP financial measures enhance the understanding of its business and performance, they are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions.

**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 61 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee as of March 31, 2026. 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 $1.77 billion in combined assets as of March 31, 2026. The Company reported consolidated assets of $3.64 billion as of March 31, 2026. 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; changes in banking laws and regulations; the degree of competition by traditional and non-traditional competitors; the impact of natural disasters, extreme weather events, military conflict , terrorism or other geopolitical events; 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*.

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**CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(Amounts in thousands, except share and per share data)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Interest income** |  |  |  |  |  |
| Interest and fees on loans | $31722 | $31232 | $30805 | $30637 | $30669 |
| Interest on securities | 2198 | 1221 | 1050 | 1029 | 1238 |
| Interest on deposits in banks | 3861 | 3826 | 3844 | 3722 | 3262 |
| Total interest income | 37781 | 36279 | 35699 | 35388 | 35169 |
| **Interest expense** |  |  |  |  |  |
| Interest on deposits | 4487 | 3918 | 4402 | 4731 | 4871 |
| Interest on borrowings |  |  |  |  |  |
| Total interest expense | 4487 | 3918 | 4402 | 4731 | 4871 |
| **Net interest income** | 33294 | 32361 | 31297 | 30657 | 30298 |
| Provision for credit losses | 378 | 36 |  | (285) | 321 |
| **Net interest income after provision** | 32916 | 32325 | 31297 | 30942 | 29977 |
| Noninterest income | 11457 | 11429 | 10889 | 10340 | 10229 |
| Noninterest expense | 28737 | 27624 | 26279 | 25455 | 24944 |
| Income before income taxes | 15636 | 16130 | 15907 | 15827 | 15262 |
| Income tax expense | 3609 | 3665 | 3641 | 3581 | 3444 |
| **Net income** | $12027 | $12465 | $12266 | $12246 | $11818 |
| Earnings per common share |  |  |  |  |  |
| Basic | $0.64 | $0.68 | $0.67 | $0.67 | $0.64 |
| Diluted | $0.63 | $0.68 | $0.67 | $0.67 | $0.64 |
| Cash dividends per common share |  |  |  |  |  |
| Regular | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 |
| Special cash dividend |  | 1.00 |  |  | 2.07 |
| Weighted average shares outstanding |  |  |  |  |  |
| Basic | 18925478 | 18315268 | 18314865 | 18295465 | 18324760 |
| Diluted | 19032945 | 18390550 | 18400289 | 18400793 | 18451321 |
| Performance ratios |  |  |  |  |  |
| Return on average assets | 1.39% | 1.53% | 1.53% | 1.53% | 1.49% |
| Return on average common equity | 9.29% | 9.63% | 9.58% | 9.84% | 9.49% |
| Return on average tangible common equity(1) | 13.46% | 13.80% | 13.82% | 14.32% | 13.79% |

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(1) A non-GAAP financial measure defined as net income divided by average stockholders' equity less average goodwill and other intangible assets.

**CONDENSED CONSOLIDATED QUARTERLY NONINTEREST INCOME AND EXPENSE (Unaudited)**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(Amounts in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Noninterest income** |  |  |  |  |  |
| Wealth management | $1299 | $1181 | $1371 | $1222 | $1162 |
| Service charges on deposits | 4185 | 4292 | 4520 | 4120 | 3836 |
| Other service charges and fees | 3943 | 4046 | 3847 | 3791 | 3340 |
| (Loss) gain on sale of securities | (2) |  |  |  |  |
| Other operating income | 2032 | 1911 | 1151 | 1207 | 1891 |
| Total noninterest income | $11457 | $11429 | $10889 | $10340 | $10229 |
| **Noninterest expense** |  |  |  |  |  |
| Salaries and employee benefits | $14367 | $14398 | $14351 | $14349 | $13335 |
| Occupancy expense | 1666 | 1306 | 1508 | 1290 | 1576 |
| Furniture and equipment expense | 1573 | 1484 | 1502 | 1587 | 1575 |
| Service fees | 2789 | 2648 | 2728 | 2475 | 2484 |
| Advertising and public relations | 873 | 923 | 939 | 1154 | 1055 |
| Professional fees | 238 | 240 | 293 | 360 | 372 |
| Amortization of intangibles | 846 | 433 | 433 | 526 | 524 |
| FDIC premiums and assessments | 415 | 360 | 362 | 361 | 362 |
| Merger expense | 2310 | 2125 | 787 |  |  |
| Other operating expense | 3660 | 3707 | 3376 | 3353 | 3661 |
| Total noninterest expense | $28737 | $27624 | $26279 | $25455 | $24944 |

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**RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EARNINGS (Unaudited)**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(Amounts in thousands, except per share data)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Adjusted Net Income for diluted earnings per share** | $12027 | $12465 | $12266 | $12246 | $11818 |
| Non-GAAP adjustments: |  |  |  |  |  |
| Loss on sale of securities | 2 |  |  |  |  |
| Merger expense | 2310 | 2125 | 787 |  |  |
| Total adjustments | 2312 | 2125 | 787 |  |  |
| Tax effect | 509 | 434 | 152 |  |  |
| **Adjusted earnings, non-GAAP** | $13830 | $14156 | $12901 | $12246 | $11818 |
| Adjusted diluted earnings per common share, non-GAAP | $0.73 | $0.77 | $0.70 | $0.67 | $0.64 |
| Performance ratios, non-GAAP |  |  |  |  |  |
| Adjusted return on average assets | 1.60% | 1.74% | 1.60% | 1.53% | 1.49% |
| Adjusted return on average common equity | 10.69% | 10.94% | 10.08% | 9.84% | 9.49% |
| Adjusted return on average tangible common equity (2) | 15.48% | 15.67% | 14.53% | 14.32% | 13.79% |

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(1) Includes other non-recurring income and expense items.

(2) A non-GAAP financial measure defined as adjusted earnings divided by average stockholders' equity less average goodwill and other intangible assets.

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**AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)**<br>

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|  | **Average** |  | **Average Yield/** | **Average** |  | **Average Yield/** |
| *(Amounts in thousands)* | **Balance** | **Interest(1)** | **Rate(1)** | **Balance** | **Interest(1)** | **Rate(1)** |
| **Assets** |  |  |  |  |  |  |
| Earning assets |  |  |  |  |  |  |
| Loans(2)(3) | $2434351 | $31854 | 5.31% | $2395068 | $30757 | 5.21% |
| Securities available for sale | 258621 | 2224 | 3.49% | 149266 | 1261 | 3.43% |
| Interest-bearing deposits | 410338 | 3865 | 3.82% | 295939 | 3262 | 4.47% |
| Total earning assets | 3103310 | 37943 | 4.96% | 2840273 | 35280 | 5.04% |
| Other assets | 413222 |  |  | 373791 |  |  |
| Total assets | $3516532 |  |  | $3214064 |  |  |
| **Liabilities and stockholders' equity** |  |  |  |  |  |  |
| Interest-bearing deposits |  |  |  |  |  |  |
| Demand deposits | $780138 | $417 | 0.22% | $658651 | $180 | 0.11% |
| Savings deposits | 997222 | 3097 | 1.26% | 891148 | 3311 | 1.51% |
| Time deposits | 216089 | 964 | 1.81% | 238254 | 1380 | 2.35% |
| Total interest-bearing deposits | 1993449 | 4478 | 0.91% | 1788053 | 4871 | 1.10% |
| Borrowings |  |  |  |  |  |  |
| Federal funds purchased |  |  |  |  |  |  |
| Retail repurchase agreements | 2565 | 9 | 1.44% | 1071 |  | 0.06% |
| Total borrowings | 2565 | 9 | 1.44% | 1071 |  | 0.06% |
| Total interest-bearing liabilities | 1996014 | 4487 | 0.91% | 1789124 | 4871 | 1.10% |
| Noninterest-bearing demand deposits | 933084 |  |  | 859988 |  |  |
| Other liabilities | 62507 |  |  | 60167 |  |  |
| Total liabilities | 2991605 |  |  | 2709279 |  |  |
| Stockholders' equity | 524927 |  |  | 504785 |  |  |
| Total liabilities and stockholders' equity | $3516532 |  |  | $3214064 |  |  |
| Net interest income, FTE(1) |  | $33456 |  |  | $30409 |  |
| Net interest rate spread |  |  | 4.05% |  |  | 3.94% |
| Net interest margin, FTE(1) |  |  | 4.37% |  |  | 4.34% |

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(1) Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2) Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3) Interest on loans includes non-cash and accelerated purchase accounting accretion of $490 thousand and $556 thousand for the three months ended March 31, 2026 ,and 2025 , respectively.

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**CONDENSED CONSOLIDATED QUARTERLY BALANCE SHEETS (Unaudited)**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(Amounts in thousands, except per share data)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Assets** |  |  |  |  |  |
| Cash and cash equivalents | $600299 | $512240 | $427705 | $395057 | $414682 |
| Debt securities available for sale, at fair value | 267522 | 132688 | 131314 | 132535 | 129659 |
| Loans held for investment, net of unearned income | 2456029 | 2314755 | 2331305 | 2353277 | 2382699 |
| Allowance for credit losses | (33543) | (30761) | (31597) | (33020) | (33784) |
| Loans held for investment, net | 2422486 | 2283994 | 2299708 | 2320257 | 2348915 |
| Premises and equipment, net | 50204 | 47560 | 47522 | 48023 | 48780 |
| Other real estate owned |  |  | 264 | 455 | 298 |
| Interest receivable | 9856 | 8720 | 9121 | 8787 | 9306 |
| Goodwill | 145672 | 143946 | 143946 | 143946 | 143946 |
| Other intangible assets | 18841 | 11098 | 11531 | 11964 | 12490 |
| Other assets | 130067 | 119397 | 118502 | 119990 | 117697 |
| Total assets | $3644947 | $3259643 | $3189613 | $3181014 | $3225773 |
| **Liabilities** |  |  |  |  |  |
| Deposits |  |  |  |  |  |
| Noninterest-bearing | $959555 | $896255 | $865554 | $873677 | $893794 |
| Interest-bearing | 2104832 | 1789074 | 1765039 | 1761687 | 1790683 |
| Total deposits | 3064387 | 2685329 | 2630593 | 2635364 | 2684477 |
| Securities sold under agreements to repurchase | 3181 | 1214 | 1429 | 1016 | 908 |
| Interest, taxes, and other liabilities | 55985 | 72553 | 46866 | 41805 | 43971 |
| Total liabilities | 3123553 | 2759096 | 2678888 | 2678185 | 2729356 |
| **Stockholders' equity** |  |  |  |  |  |
| Common stock | 18861 | 18335 | 18315 | 18311 | 18327 |
| Additional paid-in capital | 184684 | 170358 | 169569 | 169358 | 169867 |
| Retained earnings | 325439 | 319368 | 330895 | 324307 | 317728 |
| Accumulated other comprehensive loss | (7590) | (7514) | (8054) | (9147) | (9505) |
| Total stockholders' equity | 521394 | 500547 | 510725 | 502829 | 496417 |
| Total liabilities and stockholders' equity | $3644947 | $3259643 | $3189613 | $3181014 | $3225773 |
| Shares outstanding at period-end | 18861295 | 18334787 | 18314905 | 18311232 | 18326657 |
| Book value per common share | $27.64 | $27.30 | $27.89 | $27.46 | $27.09 |
| Tangible book value per common share(1) | 18.92 | 18.84 | 19.40 | 18.95 | 18.55 |

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(1) A non-GAAP financial measure defined as stockholders' equity less goodwill and other intangible assets, divided by shares outstanding.

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**SELECTED CREDIT QUALITY INFORMATION (Unaudited)**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(Amounts in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Allowance for Credit Losses** |  |  |  |  |  |
| Balance at beginning of period: |  |  |  |  |  |
| Allowance for credit losses - loans | $30761 | $31597 | $33020 | $33784 | $34825 |
| Allowance for credit losses - loan commitments | 355 | 319 | 319 | 312 | 341 |
| Total allowance for credit losses beginning of period | 31116 | 31916 | 33339 | 34096 | 35166 |
| Adjustments to beginning balance: |  |  |  |  |  |
| Allowance for credit losses - loans - Hometown acquisition | 3213 |  |  |  |  |
| Net Adjustments | 3213 |  |  |  |  |
| Provision for credit losses: |  |  |  |  |  |
| Provision for (recovery of) credit losses - loans | 300 |  |  | (292) | 350 |
| Provision for (recovery of) credit losses - loan commitments | 78 | 36 |  | 7 | (29) |
| Total provision for (recovery of) credit losses - loans and loan commitments | 378 | 36 |  | (285) | 321 |
| Charge-offs | (1379) | (1527) | (2015) | (1509) | (1998) |
| Recoveries | 648 | 691 | 592 | 1037 | 607 |
| Net charge-offs | (731) | (836) | (1423) | (472) | (1391) |
| Balance at end of period: |  |  |  |  |  |
| Allowance for credit losses - loans | 33543 | 30761 | 31597 | 33020 | 33784 |
| Allowance for credit losses - loan commitments | 433 | 355 | 319 | 319 | 312 |
| Ending balance | $33976 | $31116 | $31916 | $33339 | $34096 |
| **Nonperforming Assets** |  |  |  |  |  |
| Nonaccrual loans | $17672 | $13941 | $16514 | $18084 | $19974 |
| Accruing loans past due 90 days or more | 30 | 212 | 125 | 568 | 117 |
| Total nonperforming loans | 17702 | 14153 | 16639 | 18652 | 20091 |
| OREO |  |  | 264 | 455 | 298 |
| Total nonperforming assets | $17702 | $14153 | $16903 | $19107 | $20389 |
| **Additional Information** |  |  |  |  |  |
| Total modified loans | $2736 | $2442 | $2291 | $2129 | $2124 |
| **Asset Quality Ratios** |  |  |  |  |  |
| Nonperforming loans to total loans | 0.72% | 0.61% | 0.71% | 0.79% | 0.84% |
| Nonperforming assets to total assets | 0.49% | 0.43% | 0.53% | 0.60% | 0.63% |
| Allowance for credit losses to nonperforming loans | 189.49% | 217.35% | 189.90% | 177.03% | 168.15% |
| Allowance for credit losses to total loans | 1.37% | 1.33% | 1.36% | 1.40% | 1.42% |
| Annualized net charge-offs to average loans | 0.12% | 0.14% | 0.24% | 0.08% | 0.24% |

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