Welcome to our dedicated page for First Community news (Ticker: FCCO), a resource for investors and traders seeking the latest updates and insights on First Community stock.
First Community Corporation (NASDAQ: FCCO) is the holding company for First Community Bank, a full-service commercial bank based in the Midlands of South Carolina. News about FCCO focuses on its community banking activities, financial performance, capital actions, and strategic expansion across South Carolina and Georgia.
Company press releases regularly cover quarterly and annual earnings results, including net income, diluted earnings per share, loan and deposit growth, net interest margin trends, and non-interest income from mortgage banking and investment advisory services. These updates often include detailed commentary on asset quality metrics, regulatory capital ratios, and the composition of the loan and deposit portfolios.
Investors following FCCO news will also see announcements about dividends and share repurchase plans, where the board of directors authorizes quarterly cash dividends on common stock and capital allocations for potential share repurchases. These items are typically disclosed alongside earnings in press releases and related Form 8-K filings.
Another key category of news involves strategic transactions and expansion. First Community has announced and completed the acquisition of Signature Bank of Georgia, adding offices and expanding its footprint into the Atlanta–Sandy Springs–Roswell, Georgia metropolitan area and enhancing its SBA and USDA lending capabilities. Earlier communications described the signing of the merger agreement, shareholder approvals, and the closing of the transaction.
Operational and governance developments, such as executive leadership appointments and investor presentations at financial services conferences, are also reported through company news and current reports. For ongoing insight into FCCO, readers can use this page to review earnings releases, merger-related updates, capital actions, and other corporate announcements as they are issued.
First Community (Nasdaq: FCCO) has announced its earnings release schedule for 2025. The company will release its financial results on the following dates: Fourth Quarter 2024 on January 22, 2025; First Quarter 2025 on April 23, 2025; Second Quarter 2025 on July 23, 2025; and Third Quarter 2025 on October 22, 2025. All releases will be issued at approximately 9:00 am Eastern Time.
First Community Bank, the company's subsidiary, operates as a full-service commercial bank in the Midlands, Aiken, Upstate and Piedmont Regions of South Carolina and Augusta, Georgia, offering deposit and loan products, residential mortgage lending, and financial planning services.
First Community (Nasdaq: FCCO) reported net income of $3.861 million for the third quarter of 2024, with diluted earnings per share of $0.50. Key highlights include:
- Total loans increased by $7.5 million (2.5% annualized growth rate) during Q3
- Total deposits grew by $39.5 million (9.8% annualized growth rate)
- Investment advisory business exceeded $900 million in Assets Under Management
- Strong credit quality with non-performing assets ratio of 0.04%
- Cash dividend of $0.15 per common share declared
The company's Board approved a plan to repurchase up to $7.1 million of common stock. The bank maintains strong capital ratios and asset quality metrics. Net interest margin expanded to 2.96% in Q3, benefiting from increased loan portfolio yield.
First Community (Nasdaq: FCCO) reported strong financial results for Q2 2024:
- Net income of $3.265 million, up 25.7% from Q1 2024
- Diluted EPS of $0.42, up 23.5% from Q1 2024
- Net interest margin expanded to 2.93%
- Total loans grew 11.1% annualized to $31.9 million
- Customer deposits increased 11.7% annualized to $1.562 billion
- Record $865.6 million assets under management, up 14.6% YTD
- Mortgage production of $49.0 million, highest since 2020
- Excellent credit quality with 0.04% non-performing assets
The company increased its quarterly cash dividend to $0.15 per share. Key capital ratios remain strong, with a tangible common equity ratio of 6.47%. The bank has ample liquidity and no concerning concentrations in its loan portfolio.
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First Community Corporation (NASDAQ: FCCO) reported a net income of $3.463 million and diluted EPS of $0.45 for Q1 2023, a slight decrease from $3.489 million and $0.46 year-over-year. Total deposits grew by $34.8 million, marking a 10.0% annualized growth rate, while loan growth stood at $11.9 million, or 4.9% annualized. The bank maintained strong asset quality metrics, with a non-performing assets ratio of 0.29% and net loan recoveries of $15,000. A cash dividend of $0.14 per common share was approved, continuing a streak of 85 consecutive quarters of dividends. Despite a rise in deposit costs due to interest rate pressures, the bank's capital ratios remained robust, surpassing regulatory requirements.