FCBCMEDIUM SIGNALMANAGEMENT10-K

FCBC completed the acquisition of Hometown Bancshares in January 2026, adding eight West Virginia branches while significantly reducing share buybacks and debt levels.

The acquisition of Hometown Bancshares represents a strategic expansion into West Virginia's banking market, suggesting management's focus has shifted from returning capital to shareholders toward growth through M&A. The 79% reduction in share buybacks indicates capital is being redirected toward integration and operational needs following the acquisition.

Comparing 2026-03-06 vs 2025-03-07View on EDGAR →
FINANCIAL ANALYSIS

FCBC's financial profile shows a company in acquisition mode, with share buybacks plummeting 79% from $8.7M to $1.9M as management redirected capital toward the Hometown Bancshares deal. The company strengthened its balance sheet by reducing total debt 17% from $90M to $75M, while also cutting capital expenditures by 36% to $793K. This financial positioning suggests disciplined capital management around the acquisition, with reduced shareholder returns offset by debt reduction and controlled spending.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
-78.8%
$8.7M→$1.9M

Buyback activity reduced 78.8% — capital being redeployed elsewhere or cash conservation underway.

Capital Expenditure
Cash Flow
-36%
$1.2M→$793K

Capex reduced 36% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Total Debt
Balance Sheet
-16.7%
$90.0M→$75.0M

Debt reduced 16.7% — deleveraging strengthens balance sheet and reduces financial risk.

LANGUAGE CHANGES
NEW — 2026-03-06
PRIOR — 2025-03-07
ADDED
The Company adopted ASU 2023-09 prospectively effective January 1, 2025.
Prior periods have not been adjusted, and tax credits were not separately disclosed in 2024 and 2023.
Based on prompt corrective action provisions State taxes in West Virginia made up the majority (greater than 50 percent) of the tax effect in this category.
As of February 27, 2026, there were 19,075,028 shares outstanding of the registrant s Common Stock, $1.00 par value.
On January 23, 2026, the Company consummated its acquisition of Hometown Bancshares, Inc.
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REMOVED
Adjustment to reclass deferred tax asset $(99) thousand, goodwill $(282) thousand, federal income tax payable $(389) thousand, and state income tax payable $8 thousand.
Based on prompt corrective action provisions Adjustment to record the core deposit intangible on the acquired deposit accounts.
Adjustment reflects the fair value adjustment based on the Company's evaluation of the time deposit portfolio.
Adjustment reflects the fair value adjustment based on the Company's evaluation of stocks with other banks of $47 thousand.
Changes related to the composition of the Company's directors, executive officers, and related insiders Appraisals may be adjusted by management for customized discounting criteria, estimated sales costs, and proprietary qualitative adjustments.
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