ex_847336.htm

EX-99.1 2 ex_847336.htm EXHIBIT 99.1 ex_847336.htm

Exhibit 99.1


NEWS RELEASE
FOR IMMEDIATE RELEASE:		FOR MORE INFORMATION, CONTACT:
October 28, 2025		David D. Brown
		(276) 326-9000

First Community Bankshares, Inc. Announces Third Quarter 2025 Results and Quarterly Cash Dividend

Bluefield, Virginia – First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the “Company”) today reported its unaudited results of operations and other financial information for the quarter ended September 30, 2025. The Company reported net income of $12.27 million, or $0.67 per diluted common share, for the quarter ended September 30, 2025. Net income for the nine months ended September 30, 2025, was $36.33 million or $1.97 per diluted common share.

The Company also declared a quarterly cash dividend to common shareholders of thirty-one cents, $0.31, per common share. The quarterly dividend is payable to common shareholders of record on November 14, 2025, and is expected to be paid on November 28, 2025. This year marks the 40th consecutive year of regular dividends to common shareholders and the prior year was the 15th consecutive year of regular dividend increases.

Third Quarter 2025 Highlights

Income Statement

	o	Net income of $12.27 million for the third quarter of 2025, was a decrease of $768 thousand, or 5.89%, from the same quarter of 2024. Net income of $36.33 million for the first nine months of 2025, was a decrease of $2.24 million, or 5.80%, from the same period of 2024.
	o	When adjusted for merger and non-recurring expenses, net income of $12.90 million was an increase of $495 thousand, or 4.00% from the third quarter of 2024.
	o	Net interest margin for the third quarter of 2025 remained strong at 4.43% and was an increase of 2 basis points over the same quarter of 2024. The yield on earning assets decreased 10 basis points, or 1.94%, from the same period of 2024 and is primarily attributable to a decrease in average loan balance and interest income. The average balance of loans decreased $116.18 million, or 4.73%, with interest income decreasing $1.30 million, or 4.05%. The decrease in interest income on loans was somewhat offset by an increase in interest income on interest-bearing deposits with banks of $144 thousand, or 3.89%. Interest expense on interest-bearing liabilities decreased $896 thousand, which is primarily attributable to a decrease in the average balance of time deposits of $31.42 million, or 12.82%, as well as a decrease in total interest expense of $896 thousand, or 16.91%. Tax equivalent net interest income decreased $293 thousand, or 0.92%, compared to the same quarter of 2024.
	o	Net interest income after provision for loan losses increased $1.06 million, or 3.52%, compared to the same quarter of 2024. The increase is attributable to a reduction in the allowance for loan losses driven by a $84.78 million loan balance reduction from the December 31, 2024, balance of $2.42 billion.
	o	Noninterest income increased approximately $437 thousand, or 4.18%, when compared to the same quarter of 2024. The increase is attributable to an increase in service charges on deposits of $859 thousand, or 23.46%, an increase in wealth management fees of $300 thousand, or 28.01%, and a decrease in other operating income of $872 thousand, or 43.12%. Noninterest expense increased $2.10 million, or 8.69%, when compared to the same period of 2024. The increase is attributable to increases in salaries and benefits of $1.22 million, or 9.31%, service fees of $267 thousand, or 10.86%, and merger expense of $787 thousand. The merger expense is related to the forthcoming merger with Hometown Bank, with an anticipated completion date of January 2026.
	o	Annualized return on average assets ("ROA") was 1.53% for the third quarter of 2025 compared to 1.60% for the same period of 2024. ROA for the nine months ended September 30, 2025, was 1.52% compared to 1.60% for the same period of 2024. Annualized return on average common equity ("ROE") was 9.58% for the third quarter of 2025 compared to 10.04% for the same period of 2024. ROE was 9.64% for the nine months ended September 30, 2025, compared to 10.08% for the same period of 2024. Additionally, return on average tangible common equity continues to remain strong at 13.82% for the third quarter of 2025.

Balance Sheet and Asset Quality

	o	Consolidated assets totaled $3.19 billion on September 30, 2025.
	o	Consolidated loan balances decreased $84.78 million, or 3.51%, and securities available for sale decreased $38.53 million, or 22.69%, from December 31, 2024. Deposits decreased $60.65 million, or 2.25%, which was due to a decrease in interest and noninterest-bearing demand deposits and declining higher-rate time deposits. Stockholder equity decreased $15.67 million, or 2.98%, primarily due to the payment of a special cash dividend in the first quarter of 2025. The net effect of these balance sheet changes resulted in an increase in cash and cash equivalents of $50.25 million, or 13.31%.
	o	The Company's average loan-to-deposits ratio of 89.38%, on September 30, 2025, continues to represent a stable utilization of deposit funding.
	o	The Company did not repurchase any common shares during the third quarter of 2025. However, 50,338 shares have been repurchased in 2025 at an aggregate cost of $1.85 million. In comparison, during the third quarter of 2024, the Company purchased 12,854 common shares for $469 thousand, contributing to a total of 257,294 shares repurchased in the first nine months of 2024 at a total cost of $8.72 million.
	o	Total non-performing assets as of September 30, 2025, were $16.90 million, compared with $20.54 million as of December 31, 2024, and $20.28 million as of September 30, 2024. The Company has realized a declining trend in non-performing assets since December 31, 2024.
	o	Non-performing loans to total loans decreased to 0.71%; a 0.11% reduction when compared with the same quarter of 2024. The Company experienced net charge-offs for the third quarter of 2025 of $1.42 million, or 0.24% of annualized average loans, compared to net charge-offs of $1.13 million, or 0.18%, of annualized average loans for the same period in 2024.

The allowance for credit losses to total loans was 1.36% on September 30, 2025, compared to 1.44% on December 31, 2024, and 1.44% on September 30, 2024.

Book value per share on September 30, 2025, was $ 27.89, a decrease of $0.84 from year-end 2024. The decrease is primarily attributable to the payment of the special cash dividend in the first quarter of 2025 of $2.07 per share totaling approximately $37.93 million.

Non-GAAP Financial Measures

In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this news release include “tangible book value per common share,” “return on average tangible common equity,” “adjusted earnings,” “adjusted diluted earnings per share,” “adjusted return on average assets,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” and certain financial measures presented on a fully taxable equivalent (“FTE”) basis. FTE basis is calculated using the federal statutory income tax rate of 21%. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as a reconciliation to that comparable GAAP financial measure can be found in the attached tables to this press release. While the Company believes certain non-GAAP financial measures enhance the understanding of its business and performance, they are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions.

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 September 30, 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 $1.75 billion in combined assets as of September 30, 2025. The Company reported consolidated assets of $3.19 billion as of September 30, 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; changes in banking laws and regulations; the degree of competition by traditional and non-traditional competitors; the impact of natural disasters, extreme weather events, military conflict , terrorism or other geopolitical events; 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.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

	Three Months Ended															Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,
(Amounts in thousands, except share and per share data)	2025			2025			2025			2024			2024			2025			2024
Interest income
Interest and fees on loans	$	30,805		$	30,637		$	30,669		$	31,637		$	32,120		$	92,111		$	98,234
Interest on securities		1,050			1,029			1,238			1,447			1,070			3,317			3,979
Interest on deposits in banks		3,844			3,722			3,262			3,348			3,702			10,828			7,497
Total interest income		35,699			35,388			35,169			36,432			36,892			106,256			109,710
Interest expense
Interest on deposits		4,402			4,731			4,871			5,099			5,298			14,004			14,540
Interest on borrowings		-			-			-			-			-			-			35
Total interest expense		4,402			4,731			4,871			5,099			5,298			14,004			14,575
Net interest income		31,297			30,657			30,298			31,333			31,594			92,252			95,135
Provision for credit losses		-			(285	)		321			1,082			1,360			36			2,515
Net interest income after provision		31,297			30,942			29,977			30,251			30,234			92,216			92,620
Noninterest income		10,889			10,340			10,229			10,337			10,452			31,458			29,053
Noninterest expense		26,279			25,455			24,944			24,107			24,177			76,679			72,460
Income before income taxes		15,907			15,827			15,262			16,481			16,509			46,995			49,213
Income tax expense		3,641			3,581			3,444			3,441			3,476			10,666			10,649
Net income	$	12,266		$	12,246		$	11,818		$	13,040		$	13,033		$	36,329		$	38,564


Earnings per common share
Basic	$	0.67		$	0.67		$	0.64		$	0.71		$	0.71		$	1.98		$	2.10
Diluted	$	0.67		$	0.67		$	0.64		$	0.71		$	0.71		$	1.97		$	2.09
Cash dividends per common share
Regular		0.31			0.31			0.31			0.31			0.31			0.93			0.89
Special cash dividend		-			-			2.07			-			-			2.07			-
Weighted average shares outstanding
Basic		18,314,865			18,295,465			18,324,760			18,299,612			18,279,612			18,311,661			18,366,249
Diluted		18,400,289			18,400,793			18,451,321			18,418,441			18,371,907			18,417,066			18,432,023
Performance ratios
Return on average assets		1.53	%		1.53	%		1.49	%		1.60	%		1.60	%		1.52	%		1.60	%
Return on average common equity		9.58	%		9.84	%		9.49	%		9.89	%		10.04	%		9.64	%		10.08	%
Return on average tangible common equity(1)		13.82	%		14.32	%		13.79	%		14.12	%		14.46	%		13.97	%		14.61	%

(1)

A non-GAAP financial measure defined as net income divided by average stockholders' equity less average goodwill and other intangible assets.

CONDENSED CONSOLIDATED QUARTERLY NONINTEREST INCOME AND EXPENSE (Unaudited)

	Three Months Ended										Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,
(Amounts in thousands)	2025		2025		2025		2024		2024		2025		2024
Noninterest income
Wealth management	$	1,371	$	1,222	$	1,162	$	1,251	$	1,071	$	3,755	$	3,234
Service charges on deposits		4,520		4,120		3,836		3,613		3,661		12,476		10,399
Other service charges and fees		3,847		3,791		3,340		3,575		3,697		10,978		10,817
Other operating income		1,151		1,207		1,891		1,898		2,023		4,249		4,603
Total noninterest income	$	10,889	$	10,340	$	10,229	$	10,337	$	10,452	$	31,458	$	29,053
Noninterest expense
Salaries and employee benefits	$	14,351	$	14,349	$	13,335	$	13,501	$	13,129	$	42,035	$	38,201
Occupancy expense		1,508		1,290		1,576		1,329		1,270		4,374		3,957
Furniture and equipment expense		1,502		1,587		1,575		1,562		1,574		4,664		4,806
Service fees		2,728		2,475		2,484		2,305		2,461		7,687		7,337
Advertising and public relations		939		1,154		1,055		1,165		967		3,148		2,696
Professional fees		293		360		372		295		221		1,025		923
Amortization of intangibles		433		526		524		535		536		1,483		1,596
FDIC premiums and assessments		362		361		362		365		365		1,085		1,098
Merger expense		787		-		-		-		-		787		-
Litigation expense		-		-		-		-		-		-		1,800
Other operating expense		3,376		3,353		3,661		3,050		3,654		10,391		10,046
Total noninterest expense	$	26,279	$	25,455	$	24,944	$	24,107	$	24,177	$	76,679	$	72,460

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EARNINGS (Unaudited)

	Three Months Ended															Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,
(Amounts in thousands, except per share data)	2025			2025			2025			2024			2024			2025			2024
Adjusted Net Income for diluted earnings per share	$	12,266		$	12,246		$	11,818		$	13,040		$	13,033		$	36,329		$	38,564
Non-GAAP adjustments:
Merger expense		787			-			-			-			-			787			-
Litigation expense		-			-			-			-			-			-			1,800
Other items(1)		-			-			-			-			(825	)		-			(825	)
Total adjustments		787			-			-			-			(825	)		787			975
Tax effect		152			-			-			-			(198	)		152			234
Adjusted earnings, non-GAAP	$	12,901		$	12,246		$	11,818		$	13,040		$	12,406		$	36,964		$	39,305

Adjusted diluted earnings per common share, non-GAAP	$	0.70		$	0.67		$	0.64		$	0.71		$	0.68		$	2.01		$	2.13
Performance ratios, non-GAAP
Adjusted return on average assets		1.60	%		1.53	%		1.49	%		1.60	%		1.53	%		1.54	%		1.63	%
Adjusted return on average common equity		10.08	%		9.84	%		9.49	%		9.89	%		9.56	%		9.81	%		10.27	%
Adjusted return on average tangible common equity (2)		14.53	%		14.32	%		13.79	%		14.12	%		13.77	%		14.21	%		14.89	%

(1)		Includes other non-recurring income and expense items.
(2)		A non-GAAP financial measure defined as adjusted earnings divided by average stockholders' equity less average goodwill and other intangible assets.

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)

	Three Months Ended September 30,
	2025							2024
	Average				Average Yield/			Average				Average Yield/
(Amounts in thousands)	Balance		Interest(1)		Rate(1)			Balance		Interest(1)		Rate(1)
Assets
Earning assets
Loans(2)(3)	$	2,339,631	$	30,897		5.24	%	$	2,455,807	$	32,201		5.22	%
Securities available for sale		130,187		1,070		3.26	%		133,654		1,099		3.27	%
Interest-bearing deposits		343,541		3,845		4.44	%		270,440		3,701		5.44	%
Total earning assets		2,813,359		35,812		5.05	%		2,859,901		37,001		5.15	%
Other assets		377,244							371,358
Total assets	$	3,190,603						$	3,231,259

Liabilities and stockholders' equity
Interest-bearing deposits
Demand deposits	$	657,223	$	196		0.12	%	$	656,780	$	234		0.14	%
Savings deposits		895,925		3,225		1.43	%		886,766		3,735		1.68	%
Time deposits		213,601		981		1.82	%		245,020		1,329		2.16	%
Total interest-bearing deposits		1,766,749		4,402		0.99	%		1,788,566		5,298		1.18	%
Borrowings
Federal funds purchased		-		-		-			-		-		0.00	%
Retail repurchase agreements		1,159		-		0.06	%		1,054		-		0.05	%
Total borrowings		1,159		-		0.06	%		1,054		-		0.05	%
Total interest-bearing liabilities		1,767,908		4,402		0.99	%		1,789,620		5,298		1.18	%
Noninterest-bearing demand deposits		868,489							877,472
Other liabilities		46,321							47,892
Total liabilities		2,682,718							2,714,984
Stockholders' equity		507,885							516,275
Total liabilities and stockholders' equity	$	3,190,603						$	3,231,259
Net interest income, FTE(1)			$	31,410						$	31,703
Net interest rate spread						4.06	%						3.97	%
Net interest margin, FTE(1)						4.43	%						4.41	%

(1)

Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2)

Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3)

Interest on loans includes non-cash and accelerated purchase accounting accretion of $405 thousand and $592 thousand for the three months ended September 30, 2025 and 2024, respectively.

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)

	Nine Months Ended September 30,
	2025							2024
	Average				Average Yield/			Average				Average Yield/
(Amounts in thousands)	Balance		Interest(1)		Rate(1)			Balance		Interest(1)		Rate(1)
Assets
Earning assets
Loans(2)(3)	$	2,366,151	$	92,385		5.22	%	$	2,501,209	$	98,479		5.26	%
Securities available for sale		135,900		3,384		3.33	%		172,331		4,073		3.16	%
Interest-bearing deposits		324,625		10,828		4.46	%		182,773		7,499		5.48	%
Total earning assets		2,826,676		106,597		5.04	%		2,856,313		110,051		5.15	%
Other assets		376,317							372,663
Total assets	$	3,202,993						$	3,228,976

Liabilities and stockholders' equity
Interest-bearing deposits
Demand deposits	$	657,916	$	554		0.11	%	$	662,433	$	570		0.11	%
Savings deposits		894,049		9,857		1.47	%		875,797		10,730		1.64	%
Time deposits		226,690		3,593		2.12	%		247,088		3,240		1.75	%
Total interest-bearing deposits		1,778,655		14,004		1.05	%		1,785,318		14,540		1.09	%
Borrowings
Federal funds purchased		-		-		-			839		35		5.52	%
Retail repurchase agreements		1,174		-		0.06	%		1,061		-		0.05	%
Total borrowings		1,174		-		0.06	%		1,900		35		2.46	%
Total interest-bearing liabilities		1,779,829		14,004		1.05	%		1,787,218		14,575		1.09	%
Noninterest-bearing demand deposits		868,639							883,013
Other liabilities		50,547							47,772
Total liabilities		2,699,015							2,718,003
Stockholders' equity		503,978							510,973
Total liabilities and stockholders' equity	$	3,202,993						$	3,228,976
Net interest income, FTE(1)			$	92,593						$	95,476
Net interest rate spread						3.99	%						4.06	%
Net interest margin, FTE(1)						4.38	%						4.46	%

(1)

Interest income and average yield/rate are presented on a FTE, non-GAAP, basis using the federal statutory income tax rate of 21%.

(2)

Nonaccrual loans are included in the average balance; however, no related interest income is recorded during the period of nonaccrual.

(3)

Interest on loans includes non-cash and accelerated purchase accounting accretion of $1.39 million and $2.04 million for the nine months ended September 30, 2025 and 2024, respectively.

CONDENSED CONSOLIDATED QUARTERLY BALANCE SHEETS (Unaudited)

	September 30,			June 30,			March 31,			December 31,			September 30,
(Amounts in thousands, except per share data)	2025			2025			2025			2024			2024
Assets
Cash and cash equivalents	$	427,705		$	395,057		$	414,682		$	377,454		$	315,338
Debt securities available for sale, at fair value		131,314			132,535			129,659			169,849			166,669
Loans held for investment, net of unearned income		2,331,305			2,353,277			2,382,699			2,416,089			2,444,113
Allowance for credit losses		(31,597	)		(33,020	)		(33,784	)		(34,825	)		(35,118	)
Loans held for investment, net		2,299,708			2,320,257			2,348,915			2,381,264			2,408,995
Premises and equipment, net		47,522			48,023			48,780			48,735			49,654
Other real estate owned		264			455			298			521			346
Interest receivable		9,121			8,787			9,306			9,207			9,883
Goodwill		143,946			143,946			143,946			143,946			143,946
Other intangible assets		11,531			11,964			12,490			13,014			13,550
Other assets		118,502			119,990			117,697			117,226			115,980
Total assets	$	3,189,613		$	3,181,014		$	3,225,773		$	3,261,216		$	3,224,361

Liabilities
Deposits
Noninterest-bearing	$	865,554		$	873,677		$	893,794		$	883,499		$	869,723
Interest-bearing		1,765,039			1,761,687			1,790,683			1,807,748			1,789,530
Total deposits		2,630,593			2,635,364			2,684,477			2,691,247			2,659,253
Securities sold under agreements to repurchase		1,429			1,016			908			906			954
Interest, taxes, and other liabilities		46,866			41,805			43,971			42,671			43,460
Total liabilities		2,678,888			2,678,185			2,729,356			2,734,824			2,703,667

Stockholders' equity
Common stock		18,315			18,311			18,327			18,322			18,291
Additional paid-in capital		169,569			169,358			169,867			169,752			168,691
Retained earnings		330,895			324,307			317,728			349,489			342,121
Accumulated other comprehensive loss		(8,054	)		(9,147	)		(9,505	)		(11,171	)		(8,409	)
Total stockholders' equity		510,725			502,829			496,417			526,392			520,694
Total liabilities and stockholders' equity	$	3,189,613		$	3,181,014		$	3,225,773		$	3,261,216		$	3,224,361

Shares outstanding at period-end		18,314,905			18,311,232			18,326,657			18,321,795			18,290,938
Book value per common share	$	27.89		$	27.46		$	27.09		$	28.73		$	28.47
Tangible book value per common share(1)		19.40			18.95			18.55			20.16			19.86

(1)

A non-GAAP financial measure defined as stockholders' equity less goodwill and other intangible assets, divided by shares outstanding.

SELECTED CREDIT QUALITY INFORMATION (Unaudited)

	September 30,			June 30,			March 31,			December 31,			September 30,
(Amounts in thousands)	2025			2025			2025			2024			2024
Allowance for Credit Losses
Balance at beginning of period:
Allowance for credit losses - loans	$	33,020		$	33,784		$	34,825		$	35,118			34,885
Allowance for credit losses - loan commitments		319			312			341			441			441
Total allowance for credit losses beginning of period		33,339			34,096			35,166			35,559			35,326
Provision for credit losses:
(Recovery of ) provision for credit losses - loans		-			(292	)		350			1,182			1,360
(Recovery of) provision for credit losses - loan commitments		-			7			(29	)		(100	)		-
Total provision for credit losses - loans and loan commitments		-			(285	)		321			1,082			1,360
Charge-offs		(2,015	)		(1,509	)		(1,998	)		(2,005	)		(1,799	)
Recoveries		592			1,037			607			530			672
Net charge-offs		(1,423	)		(472	)		(1,391	)		(1,475	)		(1,127	)
Balance at end of period:
Allowance for credit losses - loans		31,597			33,020			33,784			34,825			35,118
Allowance for credit losses - loan commitments		319			319			312			341			441
Ending balance	$	31,916		$	33,339		$	34,096		$	35,166		$	35,559

Nonperforming Assets
Nonaccrual loans	$	16,514		$	18,084		$	19,974		$	19,869		$	19,754
Accruing loans past due 90 days or more		125			568			117			149			176
Modified loans past due 90 days or more not included in nonaccrual		-			-			-			-			-
Total nonperforming loans		16,639			18,652			20,091			20,018			19,930
OREO		264			455			298			521			346
Total nonperforming assets	$	16,903		$	19,107		$	20,389		$	20,539		$	20,276


Additional Information
Total modified loans	$	2,291		$	2,129		$	2,124		$	2,260		$	2,320

Asset Quality Ratios
Nonperforming loans to total loans		0.71	%		0.79	%		0.84	%		0.83	%		0.82	%
Nonperforming assets to total assets		0.53	%		0.60	%		0.63	%		0.63	%		0.63	%
Allowance for credit losses to nonperforming loans		189.90	%		177.03	%		168.15	%		173.97	%		176.21	%
Allowance for credit losses to total loans		1.36	%		1.40	%		1.42	%		1.44	%		1.44	%
Annualized net charge-offs to average loans		0.24	%		0.08	%		0.24	%		0.24	%		0.18	%