First Community Corp - FCCO STOCK NEWS

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.

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.