nasdaq fcbc is a 2.61 billion bank holding company and the parent company of first community bank of bluefield virginia in the united states . as of 2012 first community bank had 53 locations in virginia west virginia and north carolina and five locations operating as peoples community bank in tennessee . 1 as of march 31 2014 first community had 2.61 billion in assets . 2 first community bancshares also includes greenpoint insurance group inc. of high point north carolina . history edit princeton bank & trust co. in princeton west virginia began in 1874 . the bank changed its name to first community bank of princeton in march 1985 . 3 flat top national bank of bluefield west virginia was chartered in 1903 and consolidated with bluefield national bank may 2 1932 . shareholders approved a plan to reorganize november 4 1982 making the bank a subsidiary of flat top bankshares inc. 4 first community bancshares incorporated in delaware november 7 1989 . in a merger of equals first community and flat top joined may 9 1990 . on january 29 1993 first community bought people s bank of richmond for 250 000 . on july 3 1996 in a deal worth about 8.9 million first community bought citizens bank of tazewell headquartered in tazewell virginia . on april 9 1997 first community took over blue ridge bank of sparta north carolina for about 24.6 million . on september 28 1999 first community bank bought united first mortgage . 5 on november 1 2000 first community bought citizens southern bank of beckley west virginia which started in 1995 and had 65 million in assets for 6.5 million . first community was the third largest banking company headquartered in virginia and it had 33 branches in virginia west virginia and north carolina while two thirds of its operations were in west virginia . 6 7 in 2001 first community had 1.29 billion in assets and a mortgage subsidiary based in richmond . as a result of the bb & t purchase of f & m national first community bought branches in clifton forge emporia and drakes branch . this gave the bank a presence in the eastern part of the state . 8 in 2003 first community completed its 26.6 million takeover of commonwealth bank of richmond with four branches 148.7 million in assets and 111.1 million in deposits . along with two branches opening in june 2003 in winston salem north carolina the deal gave first community bank 46 branches in virginia west virginia and north carolina . 9 first community bancshares president and ceo john m. mendez said charlottesville hampton roads and possibly roanoke were other markets in which the bank planned growth . 10 with 1.6 billion in assets as of september 30 2003 after the bb & t purchase of first virginia banks first community bancshares was the largest virginia based bank holding company . 11 12 as of april 1 2004 first community bank acquired people s community bank of johnson city tennessee which was a subsidiary of pcb bancorp inc. 13 in 2004 first community sold its mortgage subsidiary to access national bank . 14 in 2006 first community was the largest community bank in north carolina s piedmont triad . the bank had three branches in winston salem and planned one more branch there and one in clemmons with a kernersville loan office becoming a branch . firstcommunity had 1.95 billion in assets . 15 in 2009 first community completed a 10.5 million deal for tristone community bank increasing the number of forsyth county branches from four to six . tristone chief executive simpson skip brown jr. became the first community piedmont triad regional president and the bank s north carolina headquarters moved to the former tristone branch on jonestown road . 16 17 on march 1 2012 it was announced that first community would purchase richmond based peoples bank of virginia with four branches and 286 million in assets in a 40.6 million deal . 18 on june 8 2012 whiteville north carolina based waccamaw bank which had three branches in myrtle beach south carolina failed reopening as first community bank on june 11 after a deal with the fdic . waccamaw had operated for 14 years and had 16 branches in all with 533.1 million in assets and 472.7 million in deposits . 19 in 2014 first community announced it would buy bank of america branches with 440 million in deposits located in abingdon blacksburg gate city hillsville pulaski and wytheville in virginia and mount airy in north carolina . 2 on december 15 2014 13 branches of first community began operating as crescom bank after the carolina financial corp. subsidiary completed a 7 million purchase . the branches with 230 million in deposits included six in brunswick county north carolina four others in north carolina and three in south carolina . 20 21 on march 4 2016 first community and first bancorp announced a deal in which first community would sell all three of its branches in winston salem and one each in huntersville north carolina and mooresville north carolina to first bancorp. deposits at these branches totalled 130 million . first bancorp would sell seven virginia branches to first community . with deposits totalling 150 million these were located in abingdon blacksburg christiansburg fort chiswell radford salem and wytheville . 22 references edit first community bank in bluefield virginia va wv nc tn . bankencyclopedia.com . retrieved 2012 07 20 . a b richard craver hometrust to purchase 10 bofa branches winston salem journal june 11 2014 p. a9 . moody s bank & finance manual 1989 vol . 1 p. 1930 . moody s bank & finance manual 1989 vol . 1 p. 2013 . moody s bank and finance manual 2000 vol . 1 p. 1153 . first community buys bank charleston gazette november 2 2000 p. p3c . beckley and va. banks set to merge charleston gazette june 28 2000 p. p3c . carol hazard bb & t ups its profile in virginia ; f & m national joins carolina based bank richmond times dispatch august 11 2001 . carol hazard local bank buyout finalized ; commonwealth acquired in deal richmond times dispatch june 11 2003 . carol hazard shareholders ok commonwealth bank sale richmond times dispatch may 22 2003 . novelda sommers big bank merger is set for next year daily press december 20 2003 . carol hazard first community coming bluefield based operation acquiring commonwealth bank of richmond richmond times dispatch january 29 2003 . company overview of peoples community bank johnson city tn . bloomberg businessweek . retrieved 2012 07 03 . virginia richmond times dispatch august 20 2004 . richard craver first community plans to expand presence with three new branches winston salem journal february 14 2006 . richard craver tristone shareholders ok a takeover winston salem journal july 31 2009 p. b6 . richard craver first tennessee bank is setting its eye on five points intersection winston salem journal november 24 2009 p. a8 . first community to acquire peoples bank of va associated press state wire virginia march 2 2012 . janelle frost waccamaw bank fails taken over by virginia based bank the sun news june 8 2012 . jones steve august 7 2014 . crescom buys branches from virginia bank . the sun news . retrieved august 12 2014 . gas tax rate to increase 1 cent . winston salem journal . december 16 2014 . p. a11 . craver richard march 4 2016 . first community plans to sell winston salem branches to first bancorp . winston salem journal . retrieved march 4 2016 . external links edit official website retrieved from https en.wikipedia.org w index.php title first community bancshares & oldid 721962366 categories banks based in virginiabanks established in 1874companies listed on nasdaq1874 establishments in virginiahidden categories articles created via the article wizard navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity 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