2025-11-15T17:49:36-06:00 2024-12-31 350921680 CROWE LLP 225 WEST WACKER DRIVE SUITE 2600 CHICAGO IL 606061224 990 2024-01-01 541957458 FIRST COMMUNITY BANKSHARES INC WELFARE BENEFITS TRUST FIRS 2763269000 PO BOX 989 BLUEFIELD VA 24605 DAVID BROWN CFO 2763269000 2025-11-14 1 0 JENNIFER BURKE P01342224 3128997000 2025-11-14 2024 2025-03-06 01:10:19Z DAVID BROWN PO BOX 989 BLUEFIELD VA 24605 5821783 0 X N/A X 1999 VA TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, AND CANCER BENEFITS. 1 1 0 1 29852 27302 0 0 6742168 5791931 18415 29852 0 0 6760583 5821783 0 0 5386100 4959385 0 0 0 0 0 1245981 1188863 6632081 6148248 128502 -326465 690972 364507 0 0 690972 364507 TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, AND CANCER BENEFITS. 0 0 TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, AND CANCER BENEFITS FOR THE PARTICIPANTS, DEPENDENTS, OR DESIGNATED BENEFICIARIES. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 X FIRST COMMUNITY BANKSHARES INC 2763269000 PO BOX 989 BLUEFIELD VA 24605 FIRST COMMUNITY BANK NA TRUSTEE 1.00 X 0 0 0 0 0 0 0 0 0 0 0 EMPLOYEE/EMPLOYER CONT 525100 5027678 5027678 STOP LOSS REIMBURSEMEN 525100 764253 764253 5791931 29852 29852 5821783 5791931 29852 0 4959385 STOP LOSS INSURANCE 780405 ADMINISTRATIVE EXPENSES 300403 INSURANCE PREMIUMS 108055 6148248 216760 71398 365289 145985 108923 51908 95216 690972 364507 0 0 X 0 0 0 0 690972 364507 690972 364507 690972 364507 -326465 0 X 0 1 X 0 0 0 X 5057530 0 5057530 764253 764253 5821783 5383995 0 5383995 764253 764253 6148248 PART X, LINE 2: THE VEBA TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS OBTAINED ITS LATEST DETERMINATION LETTER ON JULY 9, 2001, IN WHICH THE INTERNAL REVENUE SERVICES ("IRS") STATED THAT THE TRUST, AS THEN DEFINED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE ("IRC"). HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECTED TO INCOME TAXES. FOR THE YEAR ENDED DECEMBER 31, 2023, THE TRUST DID PAY UNRELATED BUSINESS INCOME TAX OF $4,274. IN ADDITION, THE PLAN AND TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE COMPANY BELIEVES THAT THE TRUST CONTINUES TO QUALIFY AND OPERATE IN ACCORDANCE WITH APPLICABLE PROVISIONS OF THE IRC, AND THEREFORE, BELIEVES THAT THE RELATED TRUST IS TAX-EXEMPT. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUBSTANTIATED UPON EXAMINATION BY THE IRS. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: STOP LOSS REIMBURSEMENTS PART XII, LINE 4B - OTHER ADJUSTMENTS: STOP LOSS REIMBURSEMENTS FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE TRUST MAKES ITS FORM 990 AVAILABLE TO BOARD MEMBERS PRIOR TO FILING THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 18 COPIES OF THE THREE MOST RECENT ANNUAL INFORMATION RETURNS ALONG WITH THE TRUST'S EXEMPTION APPLICATION AND EXEMPTION LETTER ARE AVAILABLE AND MAY BE INSPECTED UPON REQUEST MADE IN PERSON OR IN WRITING RECEIVED AT FIRST COMMUNITY BANKSHARES, INC., CORPORATE CENTER, BLUEFIELD, VA. FORM 990, PART VI, SECTION C, LINE 19 THE TRUST'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE THREE MOST RECENT FINANCIAL STATEMENTS ARE AVAILABLE AND MAY BE INSPECTED UPON REQUEST MADE IN PERSON OR IN WRITING RECEIVED AT FIRST COMMUNITY BANKSHARES, INC., CORPORATE CENTER, BLUEFIELD, VA. FIRST COMMUNITY BANKSHARES INC PO BOX 989 BLUEFILED VA 24605 550694814 BANK VA N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0