First Community Bankshares, Inc. completed the sale of its 11-unit stake in Bearing Insurance Group, LLC to BroadStreet Partners Group, LLC, expecting to realize a pre-tax gain of approximately $10 million.
Key takeaways
Bearing Insurance Group, LLC was sold to BroadStreet Partners Group, LLC on May 1, 2026.
The Company owned 11 units of Bearing Insurance Group, LLC prior to the sale.
The Company expects to recognize a pre-tax gain of approximately $10 million from the transaction.
The gain will impact the Company's second quarter 2026 financial results.