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.
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.
First Community Corporation (FCCO) reported Q2 2020 net income of $2.217 million, down from $2.881 million a year earlier. Diluted EPS was $0.30, compared to $0.37 in Q2 2019. Total loans surged by $67.843 million, a 36.4% annualized growth rate. PPP loans totaled $80.7 million for 896 customers. The company declared a $0.12 cash dividend, marking the 74th consecutive quarter of payments. Net interest margin was 3.38%, while non-performing assets stood at 0.25%.