First Community Stock Price, News & Analysis

First Community Corporation (FCCO) reported a strong Q3 2021, with net income of $4.748 million, marking a 79% year-over-year increase and a 34% increase from Q2. Diluted EPS rose to $0.63 per share. Total loans grew by $41.3 million, at an annualized rate of 19.9%. Non-performing assets remained low at 0.10%. The company declared a $0.12 cash dividend, its 79th consecutive payment. However, the bank's regulatory capital ratios showed slight declines compared to last year. Overall, strong performance milestones indicate solid growth and financial health.

First Community Corporation (FCCO) reported a 59.8% year-over-year increase in net income to $3.543 million for Q2 2021, with diluted EPS up to $0.47. Year-to-date net income reached $6.798 million, a 69.5% increase from 2020. Total loans grew by $9.3 million (4.3% annualized) and pure deposits rose by $19.3 million (6.4% annualized). The Board declared a cash dividend of $0.12 per share, payable August 17, 2021. The bank's capital ratios exceed regulatory requirements with strong loan quality metrics. Non-interest income increased, driven by investment advisory services.

First Community Corporation announces the appointment of Jan Hollar to its board of directors. With over 40 years in community banking, Hollar's background includes executive roles at HCSB Financial Corporation and leadership in various bank operations. She is a licensed CPA in South Carolina and North Carolina and has served in philanthropic efforts. President and CEO Mike Crapps emphasizes her invaluable expertise, while Chairman Jimmy Chao praises her diverse experience, anticipating positive contributions to the bank's future.

First Community Corporation announces the retirement of J. Thomas "Tommy" Johnson from its board after 17 years of service, effective May 19, 2021. His successor, Chimin J. "Jimmy" Chao, will take over as chairman, with W. James "Jim" Kitchens, Jr. becoming vice chairman. Mr. Johnson, who has been on the board since 2004, played a significant role during the acquisition of Newberry Federal Savings Bank. Mr. Chao and Mr. Kitchens bring extensive industry experience to their new leadership roles, positioning the board to continue its commitment to First Community's growth.

First Community Corporation (FCCO) reported a net income of $3.3 million for Q1 2021, with diluted EPS at $0.43, a decrease from the prior quarter's $3.4 million and $0.46 per share. Total deposits rose to $1.271 billion, marking a 31.7% annualized growth rate in pure deposits. A cash dividend of $0.12 per share was declared, continuing a streak of 77 consecutive quarters of dividends. Despite the growth, the net interest margin fell to 3.23% and the bank recorded a provision expense of $177 thousand due to potential credit losses related to the pandemic.

The First Community Bank Board of Directors has appointed Ted Nissen as President, a newly created role. Nissen, a founding member of the bank's Executive Leadership Team with over 25 years of experience, has recently guided the bank through significant market expansions and the complexities of the Paycheck Protection Program. Under his leadership, First Community Bank has achieved $1.4 billion in total assets. As the largest community bank in the Midlands and third largest in South Carolina, the bank continues to grow its strategic direction.

First Community Corporation (NASDAQ: FCCO) reported a 27.4% year-over-year increase in net income for Q4 2020, totaling $3.436 million, with a diluted EPS of $0.46. For FY 2020, net income was $10.099 million and diluted EPS was $1.35, despite a decline from $10.971 million and $1.45 in 2019. Total loan growth was 14.5%, while deposits rose by 8.5%. Cash dividends of $0.12 represent the 76th consecutive quarter paid. The company maintains strong credit quality metrics, though provision expenses increased due to COVID-19 uncertainties.

First Community Corporation, based in Lexington, South Carolina, has announced the appointment of Ray E. Jones to its Board of Directors. Jones, a Partner at Parker Poe Adams & Bernstein LLP, brings over 20 years of experience in public finance, local taxation, and economic development. His extensive knowledge is expected to enhance the bank's strategic initiatives. CEO Mike Crapps and Chairman J. Thomas Johnson expressed confidence in Jones's ability to contribute significantly to the company's growth and shareholder value.

First Community Corporation (NASDAQ: FCCO) reported a net income of $2.652 million for Q3 2020, marking a 19.6% increase from the previous quarter. Earnings per share (EPS) were $0.35. Total loans rose by $27.1 million, with a strong deposit growth of $54.9 million. Notably, the company maintained a cash dividend of $0.12 per share, its 75th consecutive quarter of dividends. However, year-to-date net income declined to $6.663 million, down from $8.274 million in 2019, reflecting ongoing economic challenges due to COVID-19.