Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Balance Sheets

The following tables present condensed financial information for the parent company, First Community Bancshares, Inc. for the periods indicated:

	December 31,
Condensed Balance Sheets	2012			2011
(Amounts in thousands)
Assets
Cash and due from banks	$	12,476		$	17,694
Securities available-for-sale		11,053			7,657
Investment in subsidiary		343,911			291,547
Other assets		4,541			5,014
Total assets	$	371,981		$	321,912
Liabilities
Other borrowings	$	194		$	719
Subordinated debt		15,464			15,464
Total liabilities		15,658			16,183
Stockholders’ Equity
Preferred stock		17,421			18,921
Common stock		20,343			18,083
Additional paid-in capital		213,829			188,118
Retained earnings		111,627			92,173
Treasury stock		(6,458	)		(5,721	)
Accumulated other comprehensive loss		(439	)		(5,845	)
Total stockholders’ equity		356,323			305,729
Total liabilities and stockholders’ equity	$	371,981		$	321,912

Condensed Statements of Income

	Years Ended December 31,
Condensed Statements of Operations	2012			2011			2010
(Amounts in thousands)
Cash dividends received from subsidiary bank	$	8,105		$	—		$	—
Other income		445			2,227			2,134
Operating expense		(1,318	)		(1,796	)		(1,556	)
Income tax expense		(55	)		(150	)		(223	)
Equity in undistributed earnings of subsidiary		21,400			19,747			21,492
Net income		28,577			20,028			21,847
Dividends on preferred stock		1,058			703			—
Net income available to common shareholders	$	27,519		$	19,325		$	21,847

Condensed Statements of Cash Flows

	Years Ended December 31,
Condensed Statements of Cash Flows	2012			2011			2010
(Amounts in thousands)
Operating activities
Net income	$	28,577		$	20,028		$	21,847
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary		(21,400	)		(19,747	)		(21,492	)
(Gain) loss on sale of securities		(49	)		(139	)		1
Decrease (increase) in other assets		123			(1,529	)		238
Increase (decrease) in other liabilities		588			(5,748	)		6,715
(Increase) decrease in other operating activities		(58	)		776			(82	)
Net cash provided by (used in) operating activities		7,781			(6,359	)		7,227
Investing activities
Proceeds from sales of securities available-for-sale		2,151			2,636			535
Payments to acquire securities available-for-sale		(5,137	)		(6	)		—
Investment in subsidiary		—			(570	)		(7,500	)
Net cash (used in) provided by investing activities		(2,986	)		2,060			(6,965	)
Financing activities
Proceeds from issuance of preferred stock		—			18,802			—
Proceeds from stock options exercised		144			32			29
Payments for repurchase of treasury stock		(1,012	)		(904	)		—
Payments for repurchase of warrants		—			(30	)		—
Payments of common dividends		(8,162	)		(7,155	)		(7,121	)
Payments of preferred dividends		(1,120	)		(558	)		—
Proceeds from other financing activities		137			100			1,110
Net cash (used in) provided by financing activities		(10,013	)		10,287			(5,982	)
Net (decrease) increase in cash and cash equivalents		(5,218	)		5,988			(5,720	)
Cash and cash equivalents at beginning of year		17,694			11,706			17,426
Cash and cash equivalents at end of year	$	12,476		$	17,694		$	11,706