Bailout Bank Bio: First Community Bancshares

Jan 8, 2009 | 2 min read | Print Article

First Community Bancshares, Inc. is a holding company for First Community Bank which operates 57 banking locations in the states of Virginia, West Virginia, North Carolina, South Carolina and Tennessee. The company is based in Bluefield, Virginia. On November 14, 2008, the Company acquired Coddle Creek Financial.

Through the Treasury’s Capital Purchase Program, First Community Bancshares received $41.5 million in exchange for a total of 41,500 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A and a warrant to purchase up to 176,546 shares of First Community's common stock. The company returned the funds in full on July 8, 2009.

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Bailout Bank Bio: First Community Bancshares


Federal Equity Investment	$41.5 million
Total Revenue	$152.42 million
Net Income	$29.63 million
Number of Employees	615
Corporate Headquarters	Bluefield, Virginia
Business Sector	Financial
Officers and Directors	Stafford, William, Chairman of the Board Mendez, John, President, Chief Executive Officer, Director;Executive Vice President of the Bank Stafford, William, Vice Chairman of the Board Brown, David, Chief Financial Officer Buzzo, Robert, Vice President, Secretary Kantor, I. Norris, Director Modena, A., Director Hamner, Allen, Director Perkinson, Robert, Director Hall, Franklin, Director Johnson, Richard, Director
Corporate Website	https://www.fcbresource.com
Executive Compensation	First Community Bancshares Inc