Core Viewpoint - First Community Corporation has announced a definitive merger agreement to acquire Signature Bank of Georgia in an all-stock transaction valued at approximately $41.6 million, based on First Community's stock price as of July 11, 2025 [1][2]. Group 1: Transaction Details - The merger will result in a combined company with approximately $2.3 billion in total assets, $2.0 billion in total deposits, and $1.5 billion in total loans at closing [2]. - The merger will create a banking company with 23 offices across various regions, including South Carolina and Georgia [2]. - The transaction is expected to close in early Q1 2026, pending regulatory and shareholder approvals [2]. Group 2: Strategic Benefits - The merger is seen as a strategic move to expand into the Sandy Springs/Atlanta area, enhancing First Community's market presence [3]. - Signature Bank's expertise in SBA lending is expected to complement First Community's focus on supporting local businesses and entrepreneurs [3]. - The merger is projected to enhance First Community's tangible common equity to tangible assets ratio by approximately 35 basis points, resulting in a pro forma ratio of 7.45% [3]. Group 3: Financial Projections - The merger is anticipated to be accretive to First Community's earnings per share by approximately 4.4% in 2026 [3]. - The transaction structure includes a tangible book value dilution of approximately 2.6%, with an earnback period of 2.2 years [3]. - The internal rate of return on the deal is estimated at approximately 27.6%, indicating strong financial merits [3]. Group 4: Leadership and Governance - Signature's Chairman and CEO, Freddie J. Deutsch, will take on the role of Regional Market President and Director of Specialty Business Lending at First Community Bank [4]. - Key members of Signature's leadership team will continue with First Community Bank, and two current Signature directors will join First Community's Board of Directors [4]. Group 5: Advisory and Legal Support - First Community was advised by Hovde Group, LLC as financial advisor and Nelson Mullins Riley & Scarborough, LLP as legal counsel [5]. - Signature was advised by Olsen Palmer LLC as financial advisor and Fenimore Kay Harrison LLP as legal counsel [5].

LEXINGTON, S.C., April 23, 2025 /PRNewswire/ -- Highlights for First Quarter 2025 Today, First Community Corporation (Nasdaq: FCCO), the holding company for First Community Bank, announced earnings and discussed the results of operations and the company's activities during the first quarter of 2025. First Community reported net income for the first quarter of 2025 of $3.997 million with diluted earnings per common share of $0.51. This compares to net income and diluted earnings per common share of $2.597 mi ...