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LEXINGTON, S.C., Jan. 9, 2026 /PRNewswire/ -- First Community Corporation (Nasdaq: FCCO) (the "Company" or "First Community"), the holding company for First Community Bank, announced today the closing of its acquisition of Signature Bank of Georgia ("Signature Bank"), effective January 8, 2026 (the "Merger"). Following completion of the Merger, Signature Bank was merged with and into First Community Bank. Immediately following the completion of the Merger, the former offices of Signature Bank acquired in th ...

Investors might want to bet on First Community (FCCO) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changi ...

LEXINGTON, S.C., Dec. 16, 2025 /PRNewswire/ -- Today, First Community Corporation (Nasdaq: FCCO), the holding company for First Community Bank, announced the company's earnings release schedule for 2026.             Fourth Quarter of 2025 on Wednesday, January 28, 2026            First Quarter of 2026 on Wednesday, April 22, 2026            Second Quarter of 2026 on Wednesday, July 22, 2026            Third Quarter of 2026 on Wednesday, October 21, 2026 The releases will be issued at approximately 9:00 am ...

Financial Performance - Net income for Q3 2025 increased by $1.3 million to $5.2 million, or $0.67 diluted earnings per share, compared to $3.9 million, or $0.50 diluted earnings per share in Q3 2024[117] - Net interest income rose by $2.6 million, contributing significantly to the increase in net income[117] - Non-interest income increased by $899,000, indicating growth in fee-based services[117] - Provision for credit losses increased by $217,000, reflecting a cautious approach to potential loan defaults[117] - Total non-interest expense rose by $1.7 million, impacting overall profitability[117] - Income tax expense increased by $250,000, affecting net income[117] - Net interest income increased by $7.5 million to $45.7 million for the nine months ended September 30, 2025, compared to $38.2 million for the same period in 2024[145] - Non-interest income rose by $2.3 million to $12.7 million for the nine months ended September 30, 2025, compared to $10.4 million during the same period in 2024[160] - Net income for the nine months ended September 30, 2025, increased by $4.7 million to $14.4 million, or $1.85 diluted earnings per share, compared to $9.7 million, or $1.26 diluted earnings per share, for the same period in 2024[143] Interest Income and Loans - Average loans rose by $80.7 million, or 6.7%, to $1.3 billion for the three months ended September 30, 2025, from $1.2 billion in the same period in 2024[121] - Net interest income increased by $2.6 million, or 19.3%, to $16.0 million for the three months ended September 30, 2025, compared to $13.4 million for the same period in 2024[120] - The net interest margin improved by 0.31% to 3.26% during the three months ended September 30, 2025, compared to 2.95% during the same period in 2024[120] - The yield on loans increased by 0.11% to 5.84% during the three months ended September 30, 2025, from 5.73% during the same period in 2024[121] - Average loans increased by $85.2 million, or 7.2%, to $1.3 billion for the nine months ended September 30, 2025, compared to $1.2 billion for the same period in 2024[149] - The yield on loans increased to 5.78% during the nine months ended September 30, 2025, up from 5.59% during the same period in 2024[149] Non-Interest Income - Non-interest income increased by $899,000 to $4.5 million for the three months ended September 30, 2025, from $3.6 million in the same period in 2024[133] - Mortgage banking income increased by $359,000 to $934,000 during the three months ended September 30, 2025, with total production in the mortgage line of business reaching $51.6 million[134] - Investment advisory fees rose by $267,000 to $1.9 million during the three months ended September 30, 2025, with total assets under management increasing to $1.1 billion[135] - Mortgage banking income increased by $913,000 to $2.6 million during the nine months ended September 30, 2025, compared to $1.7 million during the same period in 2024[162] - Investment advisory fees and non-deposit commissions rose by $958,000 to $5.4 million during the nine months ended September 30, 2025, from $4.5 million in the same period in 2024[163] Expenses - Total non-interest expense increased by $3.9 million to $13.7 million for the three months ended September 30, 2025, compared to $12.0 million in the same period in 2024[138] - Salaries and employee benefits expense increased by $637,000 to $8.1 million during the three months ended September 30, 2025, driven by normal salary adjustments and higher commissions[138] - Non-interest expense increased by $3.9 million to $39.5 million during the nine months ended September 30, 2025, compared to $35.6 million during the same period in 2024[167] - Salaries and employee benefits expense increased by $2.0 million to $23.8 million during the nine months ended September 30, 2025, from $21.8 million in the same period in 2024[167] Tax and Regulatory Considerations - The effective tax rate decreased to 21.19% during the three months ended September 30, 2025, compared to 22.89% during the same period in 2024[123] - The effective tax rate decreased to 21.2% for the three months ended September 30, 2025, from 22.9% in the same period in 2024, due to a non-recurring adjustment[141] - The effective tax rate was 22.10% for the nine months ended September 30, 2025, compared to 21.42% for the same period in 2024[171] Mergers and Acquisitions - A merger agreement with Signature Bank was entered into on July 13, 2025, with each share of Signature Bank common stock converting into 0.6410 shares of the company's common stock[111][112] - The company incurred merger expenses of $575,000 during the three months ended September 30, 2025, primarily for legal and professional fees related to the merger with Signature Bank[138] Asset and Deposit Growth - The company had $1.6 billion in pure deposits plus customer cash management repurchase agreements as of September 30, 2025, up from $1.4 billion a year earlier[125] - Total deposits increased by $95.3 million, or 5.7%, to $1.8 billion at September 30, 2025, compared to $1.7 billion at December 31, 2024[198] - Pure deposits, defined as total deposits less certificates of deposits, increased by $86.5 million, or 6.3%, to $1.46 billion at September 30, 2025[198] - Assets increased by $108.6 million, or 5.5%, to $2.1 billion at September 30, 2025, driven by increases in interest-bearing bank balances and loans held for investment[182] Capital and Liquidity - The Bank's Common Equity Tier 1 capital ratio is 13.10%, significantly above the minimum requirement of 4.5%[225] - The Bank's total capital ratio stands at 14.15% as of September 30, 2025, exceeding the minimum requirement of 8.0%[231] - The Bank maintains a leverage ratio of 8.55% as of September 30, 2025, exceeding the minimum requirement of 4.0%[231] - The Bank's liquidity management strategy includes access to federal funds purchased lines totaling $102.5 million, with no utilization as of September 30, 2025[221] Dividend Policy - The Board of Directors approved a cash dividend of $0.16 per common share for Q3 2025, payable on November 18, 2025, to shareholders of record as of November 4, 2025[232] - The ability to declare and pay dividends is subject to federal and state regulatory considerations, including guidelines from the Federal Reserve[232] - Regulatory policies may restrict the ability to pay dividends if a subsidiary bank becomes undercapitalized[232] - The company operates as a separate legal entity from the Bank and relies on the Bank's ability to pay dividends, which is also subject to regulatory restrictions[233]

Financial Performance - Net income for Q3 2025 was $5.192 million, a 34.5% increase year-over-year, and flat compared to Q2 2025[1] - Diluted EPS for Q3 2025 was $0.67, up 34.0% year-over-year, and flat on a linked quarter basis[2] - Net income for Q3 2025 was $5,007 thousand, down from $6,684 thousand in Q2 2025, a decrease of 25.1%[24] - The company reported a net income of $14,375,000 for the nine months ended September 30, 2025, compared to $9,723,000 for the same period last year, indicating a year-over-year increase of 47.56%[27] Asset and Loan Growth - Total loans increased by $19.3 million in Q3 2025, representing a 6.1% annualized growth rate[7] - Average loans rose to $1,280,814 thousand in Q3 2025, compared to $1,200,150 thousand in Q3 2024, marking a year-over-year increase of 6.7%[23] - Total assets as of September 30, 2025, were $2,066,598 thousand, an increase from $2,046,265 thousand as of June 30, 2025[22] - Total assets reached $2,051,815 thousand as of September 30, 2025, compared to $1,915,700 thousand a year earlier, marking an increase of 7.09%[25] Deposit Growth - Total deposits rose by $17.1 million in Q3 2025, with a 3.9% annualized growth rate[8] - Total deposits reached $1,771,164 thousand as of September 30, 2025, compared to $1,754,041 thousand in the previous quarter[22] - Average deposits increased to $1,754,654 thousand in Q3 2025, compared to $1,621,159 thousand in Q3 2024, representing a growth of 8.2%[23] Income and Expense Metrics - Total non-interest income for Q3 2025 was $4.469 million, a 25.2% increase year-over-year[12] - Non-interest expense for Q3 2025 was $13.674 million, up from $13.083 million in Q2 2025, with marketing expenses increasing by $349 thousand and merger-related expenses rising by $341 thousand[15] - Total non-interest expense for the nine months ended September 30, 2025, was $39,511 thousand, an increase from $35,639 thousand in the same period of 2024, reflecting a rise of 10.5%[24] Capital and Equity - The book value per common share increased to $21.01 as of September 30, 2025, from $20.23 in the prior quarter[22] - Shareholders' equity increased to $158,014 thousand as of September 30, 2025, from $139,154 thousand a year earlier, representing a growth of 13.54%[25] - Common equity to assets (GAAP) was 7.82% for September 30, 2025, up from 7.60% in the previous quarter, representing a growth of 0.22 percentage points[27] Efficiency and Profitability Ratios - Return on average common equity improved to 13.04% in Q3 2025, compared to 11.04% in Q2 2025[24] - The efficiency ratio improved to 64.44% in Q3 2025, down from 70.48% in Q2 2025, indicating better cost management[24] - Return on average tangible common equity (non-GAAP) improved to 14.40% for September 30, 2025, up from 12.39% in the same period last year, showing a significant increase of 2.01 percentage points[27] Acquisition and Strategic Initiatives - The company is in the process of acquiring Signature Bank of Georgia, with a special shareholder meeting scheduled for November 19, 2025, and financial closing expected in early Q1 2026[16] - The company approved a share repurchase plan of up to $7.5 million, representing approximately 4.6% of total shareholders' equity[4] Credit Quality - Non-performing assets (NPAs) ratio was 0.04%, indicating strong credit quality metrics[6] - Net charge-offs to average loans remained low at 0.00% for Q3 2025, compared to 0.02% in Q3 2024[23] Tax and Regulatory Considerations - The income tax expense in Q3 2025 benefited from South Carolina State tax credits amounting to $120,000[17] - The company faces risks related to the timely completion of the acquisition, regulatory approvals, and potential disruptions to client relationships[19]

Core Insights - First Community (FCCO) reported a revenue of $20.46 million for the quarter ended September 2025, marking a year-over-year increase of 20.5% and exceeding the Zacks Consensus Estimate of $19.87 million by 2.98% [1] - The earnings per share (EPS) for the same period was $0.72, compared to $0.50 a year ago, resulting in an EPS surprise of 7.46% against the consensus estimate of $0.67 [1] Financial Performance Metrics - The net interest margin (taxable equivalent) was reported at 3.3%, aligning with the two-analyst average estimate of 3.3% [4] - The efficiency ratio stood at 64.4%, slightly above the average estimate of 64.2% based on two analysts [4] - Total non-interest income reached $4.47 million, surpassing the average estimate of $3.97 million from two analysts [4] Stock Performance - Over the past month, shares of First Community have returned -6.2%, contrasting with the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Viewpoint - First Community (FCCO) reported quarterly earnings of $0.72 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, and showing a year-over-year increase from $0.50 per share [1] Financial Performance - The company achieved revenues of $20.46 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.98%, compared to $16.98 million in the same quarter last year [2] - Over the last four quarters, First Community has consistently exceeded consensus EPS estimates and revenue estimates [2] Stock Performance - First Community shares have increased approximately 13.5% since the beginning of the year, while the S&P 500 has gained 14.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.71, with expected revenues of $20.27 million, and for the current fiscal year, the EPS estimate is $2.56 on revenues of $78 million [7] - The trend of earnings estimate revisions is mixed ahead of the earnings release, which may influence future stock movements [5][6] Industry Context - The Banks - Southeast industry, to which First Community belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Performance - First Community Corporation reported net income of $5.192 million for Q3 2025, a 34.5% increase year-over-year and flat compared to Q2 2025 [2][5] - Diluted earnings per share (EPS) were $0.67 for Q3 2025, unchanged from Q2 2025 but up 34.0% year-over-year [2][5] - Year-to-date net income through September 30, 2025, was $14.375 million, a 47.8% increase compared to the same period in 2024 [3][5] Capital Management - The Board of Directors approved a cash dividend of $0.16 per share for Q3 2025, marking the 95th consecutive quarter of dividends [4][5] - A share repurchase plan of up to $7.5 million was approved, representing approximately 4.6% of total shareholders' equity as of September 30, 2025 [4] Asset Quality - The non-performing assets ratio was 0.04% of total assets, with a total past due ratio of 0.07% of total loans as of September 30, 2025 [4][5] - Net charge-offs during Q3 2025 were $13 thousand, indicating strong credit quality metrics [5][10] Loan and Deposit Growth - Total loans increased by $19.3 million in Q3 2025, reflecting a 6.1% annualized growth rate [4][5] - Total deposits rose by $17.1 million during Q3 2025, with customer deposits increasing by $27.6 million, a 6.3% annualized growth rate [4][5] Investment Portfolio - The investment portfolio was valued at $501.3 million as of September 30, 2025, with a yield of 3.41% [6] - Accumulated Other Comprehensive Loss improved to $20.2 million from $21.9 million in the previous quarter [6] Non-Interest Income - Total non-interest income for Q3 2025 was $4.469 million, a 6.3% increase from Q2 2025 and a 25.2% increase year-over-year [8][10] Regulatory Capital Ratios - As of September 30, 2025, the bank's regulatory capital ratios exceeded the well-capitalized minimum levels, with a Tier 1 Capital Ratio of 13.10% [4][15]

Company Overview - First Community (FCCO) is based in Lexington and operates in the Finance sector, with a year-to-date share price change of 20.46% [3] - The company currently pays a dividend of $0.16 per share, resulting in a dividend yield of 2.21%, which is slightly below the Banks - Southeast industry's yield of 2.29% and above the S&P 500's yield of 1.54% [3] Dividend Performance - The current annualized dividend of $0.64 represents a 10.3% increase from the previous year [4] - Over the past five years, First Community has increased its dividend three times, achieving an average annual increase of 5.74% [4] - The company's current payout ratio is 27%, indicating that it paid out 27% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for FCCO's earnings in 2025 is $2.56 per share, reflecting an expected increase of 41.44% from the previous year [5] Investment Appeal - FCCO is viewed as an attractive dividend play and a compelling investment opportunity, currently holding a Zacks Rank of 2 (Buy) [6]