First Community Bankshares (NASDAQ: FCBC) expects $10M pre-tax gain from sale

Rhea-AI Filing Summary

First Community Bankshares, Inc. reported that Bearing Insurance Group, LLC, in which it owned 11 units, was sold to BroadStreet Partners Group, LLC on May 1, 2026. The company expects to record an estimated pre-tax gain of approximately $10 million from this transaction.

Insights

Banking sector analyst

First Community Bankshares expects about $10M pre-tax gain from selling its Bearing Insurance stake.

First Community Bankshares, Inc. held 11 units in Bearing Insurance Group, LLC, which was sold to BroadStreet Partners Group, LLC on May 1, 2026. The company anticipates an approximate pre-tax gain of $10 million from this sale.

This appears to be a non-recurring gain tied to an investment position rather than core banking operations. Its significance depends on the company’s overall earnings base, which is not detailed here. Subsequent financial reports should show how this gain flows through reported results.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Expected pre-tax gain: $10 million Units owned in Bearing: 11 units Transaction date: May 1, 2026

3 metrics

Expected pre-tax gain $10 million From sale of Bearing Insurance Group, LLC

Units owned in Bearing 11 units First Community Bankshares’ interest in Bearing Insurance Group, LLC

Transaction date May 1, 2026 Completion of sale of Bearing Insurance Group, LLC

Key Terms

pre-tax gain, Other Events, emerging growth company

3 terms

pre-tax gain financial

"The Company expects to realize a pre-tax gain of approximately $10 million"

Other Events regulatory

"Item 8.01 Other Events."

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Understanding 8-K Material Events →

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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): May 1, 2026

FIRST COMMUNITY BANKSHARES, INC.

(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 Bluefield, Virginia		24605-0989
(Address of principal executive offices)		(Zip Code)

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:

☐	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)
☐	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))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock ($1.00 par value)		FCBC		NASDAQ Global Select

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. ☐

Item 8.01         Other Events.

On May 1, 2026, Bearing Insurance Group, LLC (“Bearing”) completed its sale to BroadStreet Partners Group, LLC.  First Community Bankshares, Inc. (the “Company”) owned 11 units of Bearing.  The Company expects to realize a pre-tax gain of approximately $10 million in connection with sale of Bearing.

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.

			FIRST COMMUNITY BANKSHARES, INC.
Date:	May 1, 2026		By:	/s/ David D. Brown
				David D. Brown
				Chief Financial Officer

FAQ

What transaction did First Community Bankshares (FCBC) disclose on May 1, 2026?

First Community Bankshares disclosed that Bearing Insurance Group, LLC was sold to BroadStreet Partners Group, LLC on May 1, 2026. FCBC held 11 units in Bearing and expects to record an estimated pre-tax gain from this completed transaction.

How much does First Community Bankshares (FCBC) expect to gain from the Bearing Insurance sale?

First Community Bankshares expects an approximate pre-tax gain of about $10 million from the sale of Bearing Insurance Group, LLC. This gain reflects the value realized on its 11 units in Bearing and should appear as a non-recurring item in future financial results.

What stake did First Community Bankshares (FCBC) hold in Bearing Insurance Group, LLC?

First Community Bankshares owned 11 units of Bearing Insurance Group, LLC before the sale. These units represented the company’s investment interest, and their disposition in the transaction underpins the anticipated pre-tax gain of approximately $10 million disclosed by FCBC.

Who acquired Bearing Insurance Group, LLC from First Community Bankshares’ investee position?

Bearing Insurance Group, LLC was sold to BroadStreet Partners Group, LLC. First Community Bankshares did not sell the business itself but owned 11 units in Bearing, and this completed sale is expected to generate an estimated pre-tax gain of about $10 million for FCBC.

How will the Bearing Insurance transaction affect First Community Bankshares (FCBC) earnings?

The transaction is expected to add an estimated pre-tax gain of approximately $10 million to First Community Bankshares’ results. Because this gain comes from selling an investment stake in Bearing Insurance Group, LLC, it is likely to be treated as a one-time, non-recurring item.

Filing Exhibits & Attachments

4 documents

Other Documents

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