First Community Bankshares, Inc. Completes Acquisition of Hometown Bancshares, Inc.

First Community Bankshares (NASDAQ: FCBC) completed its acquisition of Hometown Bancshares and Hometown's subsidiary Union Bank, effective at the close of business on January 23, 2026.

Rhea-AI Summary

First Community Bankshares (NASDAQ: FCBC) completed its acquisition of Hometown Bancshares and Hometown's subsidiary Union Bank, effective at the close of business on January 23, 2026. The merger converts Union Bank into First Community Bank and brings Hometown’s eight West Virginia branch locations onto the FCBC network, opening as First Community Bank branches on January 26, 2026. Under the merger terms, Hometown shareholders receive 11.706 shares of First Community common stock per Hometown share. At December 2025 close, Hometown reported approximately $415 million in total assets, $172 in total loans and $376 million in total deposits. The deal is positioned to grow low-cost core deposits and expand presence in the Parkersburg–Marietta–Vienna MSA.

Positive

• Adds 8 branch locations in West Virginia to FCBC footprint
• Hometown brings ~$376 million in total deposits
• Transaction targets growth of low-cost core deposits
• Defines share exchange ratio of 11.706 FCBC shares per Hometown share

Negative

• Share issuance at 11.706-for-1 exchange will increase outstanding FCBC shares
• Integration of Hometown and Union Bank into FCBC operations may create execution demands

Argus Jan 27 session

-0.27% close to close Open Argus

Details

News Market Reaction – FCBC

In the Jan 27 session, FCBC declined 0.27%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement completes FCBC’s acquisition of Hometown Bancshares, integrating Union Bank and ad...

Analysis

This announcement completes FCBC’s acquisition of Hometown Bancshares, integrating Union Bank and adding about $415 million in assets and $376 million in deposits at year-end 2025. It follows the July 2025 deal announcement and subsequent regulatory and shareholder approvals. Investors may track branch conversion of the eight West Virginia locations, progress on low-cost core deposit growth, and future filings detailing post-merger earnings impact and balance sheet composition.

Key Figures

Exchange ratio: 11.706 shares Branch locations acquired: 8 branches Hometown total assets: $415 million +5 more

Exchange ratio

11.706 shares

First Community shares per Hometown share under merger agreement

Branch locations acquired

8 branches

Hometown branches in West Virginia converting to First Community Bank

Hometown total assets

$415 million

Hometown at end of December 2025

Hometown total loans

$172

Total loans at end of December 2025 (unit as stated)

Hometown total deposits

$376 million

Total deposits at end of December 2025

Price change

-4.55%

FCBC 24h price change before this news

52-week range position

-25.52% vs high, +8.74% vs low

FCBC vs 52-week high/low prior to article

200-day MA

$36.23

FCBC trading below 200-day moving average pre-announcement

Previous Acquisition Reports

1 past event · Latest: Jul 21

Same Type 1 event

1. Jul 21

   Acquisition announcement

   24h Move

   +1.1%

   Announced stock-for-stock acquisition of Hometown Bancshares and related expansion.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BLUEFIELD, Va., Jan. 26, 2026 (GLOBE NEWSWIRE) -- First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the “Company”), parent company of First Community Bank, announced today that it has completed the acquisition of Hometown Bancshares, Inc., (“Hometown”) and Hometown’s wholly owned subsidiary, Union Bank, Inc. The acquisition became effective at the close of business on January 23, 2026. First Community and Hometown previously announced an agreement to merge on July 19, 2025.

The completed acquisition included the merger of Union Bank into First Community Bank. Hometown’s eight branch locations in West Virginia will open as First Community Bank branches the morning of January 26, 2026. Under the terms of the merger agreement, Hometown’s shareholders will receive 11.706 shares of First Community common stock for each share of Hometown common stock.

This merger aligns with First Community’s strategic focus on growing low-cost core deposits and positions the combined entity to expand its presence in the Parkersburg-Marietta-Vienna MSA. “First Community has a 150-year history of community banking excellence in West Virginia. Our partnership with Hometown and Union Bank is a natural expansion into West Virginia markets that are similar in size and makeup to the locations where we’ve had great success across our broader banking footprint. We look forward to bringing the two franchises together to better serve our customers and local communities,” said Gary R. Mills, President and CEO of First Community Bank.

“We are pleased to announce our partnership with Union Bank. This collaboration will further strengthen our robust banking franchise in West Virginia. We believe First Community will benefit from Union’s strong deposit base, while Union’s customers will enjoy the advantages of increased scale, higher lending limits, and enhanced product and technology offerings from First Community,” said William (Will) P. Stafford, II, Chairman and Chief Executive Officer of First Community. 

At the end of December 2025, Hometown had approximately $415 million in total assets, $172 in total loans and $376 million in total deposits. Commenting on the transaction, Hometown’s President, Timothy Aiken offered, “We are excited about the opportunity to bring FCBC and Hometown together. The transaction will accelerate our ability to grow, and we believe creates an exciting opportunity for our shareholders and employees. The Hometown board of directors believes FCBC is well positioned and has significant upside opportunity through stock price appreciation. The FCBC platform will allow Hometown to better serve our existing customers and communities, as well as expand into other product offerings. We admire the historical success of the FCBC team and look forward to working together.

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 52 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee as of December 31, 2025. 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 $1.79 billion in combined assets as of December 31, 2025. The Company reported consolidated assets of $3.26 billion as of December 31, 2025. 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; 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.

FOR MORE INFORMATION, CONTACT:
David D. Brown
(276) 326-9000

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did First Community (FCBC) complete the acquisition of Hometown Bancshares?

The acquisition became effective at the close of business on January 23, 2026.

What is the stock exchange ratio in the FCBC acquisition of Hometown (FCBC)?

Hometown shareholders will receive 11.706 shares of First Community common stock for each Hometown share.

How many Hometown branch locations converted to First Community Bank branches and when will they open?

Hometown’s eight branch locations in West Virginia opened as First Community Bank branches on the morning of January 26, 2026.

What were Hometown’s reported assets, loans, and deposits at December 2025?

At the end of December 2025, Hometown reported approximately $415 million in total assets, $172 in total loans, and $376 million in total deposits.

How does the acquisition fit First Community’s strategy (FCBC)?

The merger aligns with First Community’s strategic focus on growing low-cost core deposits and expanding in the Parkersburg–Marietta–Vienna MSA.