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 (FCCO) provides essential financial services through its community-focused banking model, serving businesses and individuals across multiple states. This news hub offers investors and stakeholders immediate access to official announcements and market-moving developments.
Track all critical updates including quarterly earnings reports, regulatory filings, leadership appointments, and service expansions. Our curated collection ensures transparent access to FCCO's mortgage banking developments, investment advisory initiatives, and community partnership programs.
Discover timely information about deposit product enhancements, loan portfolio management strategies, and corporate responsibility efforts. This resource serves financial professionals and local customers alike with verified updates directly from the company.
Bookmark this page for continuous access to First Community's latest operational milestones and financial disclosures. Check regularly for new insights into their personalized banking solutions and risk management practices.
First Community (Nasdaq: FCCO) reported strong financial results for Q2 2024:
- Net income of $3.265 million, up 25.7% from Q1 2024
- Diluted EPS of $0.42, up 23.5% from Q1 2024
- Net interest margin expanded to 2.93%
- Total loans grew 11.1% annualized to $31.9 million
- Customer deposits increased 11.7% annualized to $1.562 billion
- Record $865.6 million assets under management, up 14.6% YTD
- Mortgage production of $49.0 million, highest since 2020
- Excellent credit quality with 0.04% non-performing assets
The company increased its quarterly cash dividend to $0.15 per share. Key capital ratios remain strong, with a tangible common equity ratio of 6.47%. The bank has ample liquidity and no concerning concentrations in its loan portfolio.
First Community Corporation (NASDAQ: FCCO) reported a net income of $3.463 million and diluted EPS of $0.45 for Q1 2023, a slight decrease from $3.489 million and $0.46 year-over-year. Total deposits grew by $34.8 million, marking a 10.0% annualized growth rate, while loan growth stood at $11.9 million, or 4.9% annualized. The bank maintained strong asset quality metrics, with a non-performing assets ratio of 0.29% and net loan recoveries of $15,000. A cash dividend of $0.14 per common share was approved, continuing a streak of 85 consecutive quarters of dividends. Despite a rise in deposit costs due to interest rate pressures, the bank's capital ratios remained robust, surpassing regulatory requirements.
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.
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