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 Corporation (NASDAQ: FCCO) reported a diluted EPS of $0.53 for Q4 2022, with net income reaching $4.043 million, a 3.2% increase year-over-year. For the entire year, net income amounted to $14.613 million, slightly down from $15.465 million in 2021. Revenue from PPP loans dropped significantly to $49,000, down from $3.34 million in 2021. The company declared an increased cash dividend of $0.14 per share, payable on February 14, 2023. Total loans grew by 13.6% annually, with a notable commercial loan production of $257.9 million for 2022. Asset quality remains strong with non-performing assets at just 0.35%.
First Community Corporation (FCCO) reported net income of $3.951 million for Q3 2022, marking a 26.2% increase from the previous quarter, with a diluted EPS of $0.52. Year-to-date, net income is $10.570 million, down from $11.546 million last year. Total loans rose by $33.9 million (annualized growth rate of 14.7%), while net interest income increased 15.8% to $12.794 million. The bank will pay a cash dividend of $0.13 on November 15, 2022, marking its 83rd consecutive quarter of dividends.
First Community Corporation (FCCO) reported a net income of $3.1 million for Q2 2022, a decrease from $3.5 million in Q2 2021. Diluted EPS fell to $0.41 from $0.47 year-over-year. Total loans increased by $40.5 million, an annualized growth rate of 18.6%, while total deposits rose to $1.469 billion. The company declared a $0.13 cash dividend, marking the 82nd consecutive quarter of dividends. The non-performing assets ratio stood at 0.58%, with commercial loan production reaching $80.3 million.
First Community Corporation (FCCO) reported a net income of $3.5 million for Q1 2022, with a diluted EPS of $0.46, marking a decline from the previous quarter's $3.9 million and $0.52. Cash dividends of $0.13 per common share will be paid on May 17, 2022, continuing an 81-quarter streak. The company achieved deposit growth of $83.5 million, a 25.9% annualized growth rate. Loan growth was $12.1 million, excluding PPP loans. Though investment advisory revenue rose to $1.2 million, mortgage revenue fell to $839,000 amid rising interest rates.
First Community Bank is expanding its operations in York County, South Carolina, by opening a loan production office in Rock Hill. The new office will be led by Catherine H. Faircloth, alongside experienced bankers Michael Clowney and Anne Lambert. With a strong focus on local businesses, the bank aims to enhance financial solutions in the area, which is experiencing significant economic growth. First Community, established in 1995, aims to open a full-service banking office following the initial setup.
First Community Corporation (NASDAQ: FCCO) reported a net income of $15.465 million for 2021, reflecting a 53.1% increase over 2020. The fourth quarter net income was $3.919 million, up 14.1% year-over-year but down 17.5% from the previous quarter. Diluted EPS for 2021 was $2.05 per share. Total loan growth was $19.5 million (2.3%), with a decline of $17.8 million in Q4. Asset quality remained strong with non-performing assets at 0.09%. An increased cash dividend of $0.13 reflects 80 consecutive quarters of dividends.
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.