8-K 1 fcb-10028k.txt 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): October 8, 2002 FIRST COMMUNITY BANCSHARES, INC. (Exact name of registrant as specified in its charter) Indiana 0-19618 35-1833586 (State or other (Commission (IRS Employer Jurisdiction of File Number) Identification No.) Incorporation) 136 East Harriman Bargersville, IN 461064720 (Address of principal executive offices) Registrant's telephone number, including area code: (317) 422-5171 Not Applicable (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE. ----------------------------------------- Registrant's press release dated October 8, 2002 disclosing financial condition and results of operations as of September 30, 2002 and for the 3 and 9 months then ended, attached hereto as Exhibit "A", is incorporated herein. 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. Dated: October 8, 2002 FIRST COMMUNITY BANCSHARES, INC. By: /s/ Albert R. Jackson III ---------------------------------- Albert R. Jackson III, President 2 Exhibit "A" FOR MORE INFORMATION CONTACT: Albert R. "Jack" Jackson, III (317) 882-5277 FOR IMMEDIATE RELEASE, October 08, 2002 FIRST COMMUNITY BANCSHARES, INC. AND FIRST COMMUNITY BANK & TRUST ANNOUNCE THIRD QUARTER RESULTS Bargersville, IN ... First Community Bancshares, Inc. (OTCBB Symbol: FCYB) and its wholly owned subsidiary, First Community Bank & Trust, today reported third-quarter results for 2002. For the three months ended September 30, 2002, the Company earned $420,000 or .40 cents per basic share compared with $273,000 or .26 cents per basic share in the third quarter of 2001, a dollar increase of 53.8 percent. The third quarter of 2002 net income was up $147,000 or .14 cents per basic share over the third quarter of 2001, a per basic share increase of 53.8 percent. For the nine months ending September 30, 2002, the Company earned $451,000 or .43 cents per basic share compared with $664,000 or .64 cents per basic share for the nine months ended September 30, 2001, a decrease of $213,000 or 32.1 percent. Contributing to the decline in net income from 2001 to 2002 was a $790,000 provision for loan losses recorded in the second quarter of 2002 as compared to the provision of $69,000 recorded in the second quarter of 2001. The increased provision was for the commercial portfolio and was primarily necessary due to continued weakness in the general economy of the Indianapolis metro area and due to the charge off of two (2) loans. The Company believes the recovery of charged off loans is possible but that the recoveries may be over several quarters. Between December 31, 2001 and September 30, 2002, the Company's loan portfolio increased from $126.1 million to $127.1 million, or .8 percent; total assets increased from $147.4 million to $149.3 million, or 1.3 percent; and total deposits increased from $117.7 million to $121.4 million, or 3.1 percent. Book value per share at September 30, 2002 was $10.05 as compared to $9.69 at September 30, 2001. This news release contains forward-looking statements within the meaning of federal securities laws. Statements in this release that are not strictly historical are forward-looking and based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as "expect," "believe," "will," and "hopeful" involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, and market disruptions and other effects of terrorist activities. The Company undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission. First Community Bancshares is a bank holding company. Through its wholly owned subsidiary, First Community Bank & Trust, the Company offers an extensive line of banking services through branches in Bargersville, Franklin, Greenwood, Whiteland, Indianapolis, North Vernon, Edinburgh and Trafalgar, Indiana. First Community Bank & Trust also offers trust services through its Trust Department. - more - FCBI Reports Third Quarter 2002 October 8, 2002 Page 2 First Community Bancshares, Inc. Unaudited Financial Highlights (In Thousands, except per share data)

FCBI Reports Third Quarter 2002 Page 3 October 8, 2002 First Community Bancshares, Inc. Unaudited Financial Highlights (In Thousands, except per share data)

FIRST COMMUNITY BANCSHARES INC /IN 8-K