First Community Bancshares Inc. in Bluefield, Va., has turned the corner in dealing with its securities portfolio and is now setting its sights on acquisitions in the Southeast.

The $2.3 billion-asset company, which has been a busy acquirer in the past, announced last week that its shareholders have authorized raising up to $200 million of capital. The fresh capital should fortify its position as a consolidator through failed-bank takeovers and M&A deals.

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