BLUEFIELD, Va.--(BUSINESS WIRE)--
First Community Bancshares, Inc. (NASDAQ: FCBC) (www.fcbinc.com)
("First Community") announced today that it has priced a public offering
of 4.6 million shares of common stock at $12.50 per share for gross
proceeds of $57.5 million. First Community expects to close the sale of
the shares of common stock on or about June 10, 2009, subject to
customary closing conditions. Sandler O'Neill + Partners, L.P. is acting
as the lead book-running manager and Raymond James & Associates, Inc. is
acting as co-manager for the offering. The underwriters will have a
30-day option to purchase up to an additional 690,000 shares of common
stock from First Community at the offering price to cover
over-allotments, if any.
"We are very pleased with the strong interest from both institutional
and retail investors," said John M. Mendez, President and Chief
Executive Officer. "The additional capital will enable us to repurchase
our TARP investment, subject to receipt of regulatory approval, as well
as to increase our tangible common equity, and support the continued
growth and expansion of our franchise."
First Community has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication
relates. Prospective investors should read the prospectus in that
registration statement, the preliminary prospectus supplement and other
documents that First Community has filed with the SEC for more complete
information about First Community and the offering. Investors may obtain
these documents without charge by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, copies of the preliminary prospectus supplement and the
prospectus relating to the offering may be obtained from Sandler O'Neill
+ Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022, (800)
635-6855 or Raymond James & Associates, Inc., 880 Carillon Parkway, St.
Petersburg, FL 33716, (800) 248-8863.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
First Community Bancshares, Inc., headquartered in Bluefield, Virginia,
is a $2.20 billion financial holding company and is the parent company
of First Community Bank, N. A. First Community Bank, N. A. provides
financial, trust and investment advisory services and insurance products
to individuals and commercial customers through 71 locations in the five
states of Virginia, West Virginia, North Carolina, South Carolina, and
Tennessee. First Community Bank, N. A. offers wealth management services
through its Trust & Financial Services Division and Investment Planning
Consultants, Inc., a registered investment advisory firm which offers
wealth management and investment advice. First Community's wealth
management group managed assets with a market value of $791 million at
March 31, 2009. First Community is also the parent company of GreenPoint
Insurance Group, Inc., a full-service insurance agency located in High
Point, North Carolina. First Community's common stock is traded on the
NASDAQ Global Select Market under the symbol, "FCBC". Additional
investor information can be found on the Internet at www.fcbinc.com.
Cautionary Statement Regarding Forward Looking Statements
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. Pursuant to the Private Securities
Litigation Reform Act of 1995, the Company does not undertake to update
forward-looking statements contained within this news release.
Source: First Community Bancshares, Inc.
Contact: First Community Bancshares, Inc.
John M. Mendez
276-326-9000