First Community Bancshares (FCBC) To Offer $50M In Stock

First Community Bancshares, Inc. (NASDAQ: FCBC) announced its intention to commence a public offering of approximately $50 million of its common stock.

First Community expects to use the net proceeds from this offering for general corporate purposes which may include, among other uses, support for organic and opportunistic acquisition-based growth, as well as the repurchase of the preferred stock issued to the U.S. Department of the Treasury as part of the TARP Capital Purchase Program. The repurchase of the preferred stock from the Treasury is subject to approval from First Community's banking regulators.