FIRST COMMUNITY CORP /SC/

Listed Company

FCCOCIK 0000932781NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksSouth CarolinaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$19.20M

Total Assets

$2.06B

Equity

$167.56M

Shares Out

9.38M

Op. Cash Flow

$18.69M

Business

FIRST COMMUNITY CORP /SC/ is a bank holding company that owns and operates First Community Bank and provides commercial banking and related financial services. It offers deposit products, commercial and consumer loans, mortgage origination and servicing, brokerage and investment services through LPL Financial affiliation, insurance products, cash management, and online banking. The company operates through its banking subsidiary with distinct retail and commercial lending, mortgage, wealth management and operations/risk functions. It distributes services via 21 full‑service offices, loan production offices, online channels, ATM networks and correspondent relationships in South Carolina and eastern Georgia.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	74	66	52	39	40
Investment securities - taxable	16	16	17	10	6
Investment securities non-taxable	1	1	1	2	2
Other short-term investments and CDs	6	5	2	633,000	130,000
Total interest income	97	89	73	51	48
Deposits	31	31	17	2	2
Securities sold under agreement to repurchase	3	2	2	227,000	85,000
Other borrowed money	1	4	6	1	416,000
Total interest expense	35	37	24	3	2
Net interest income	62	52	49	48	45
Provision for credit losses	770,000	809,000	1	−152,000	335,000
Net interest income after provision for credit losses	61	51	48	48	45
Deposit service charges	922,000	952,000	963,000	960,000	977,000
Mortgage banking income	3	2	1	2	4
Investment advisory fees and non-deposit commissions	8	6	5	4	4
Loss on sale of securities	—	—	−1	—	—
Gain on sale of other real estate owned	127,000	—	151,000	−45,000	77,000
Loss on sale of other assets	—	−5,000	—	−73,000	117,000
Other non-recurring income	190,000	105,000	121,000	7,000	171,000
Other	5	4	5	4	4
Total non-interest income	17	14	10	12	14
Salaries and employee benefits	32	29	26	25	24
Occupancy	3	3	3	3	3
Equipment	2	1	2	1	1
Marketing and public relations	2	2	1	1	1
FDIC insurance assessments	1	1	904,000	468,000	618,000
Other real estate expense (income)	138,000	103,000	−112,000	308,000	105,000
Amortization of intangibles	158,000	158,000	158,000	158,000	201,000
Merger	1	—	—	—	—
Other	12	11	10	9	8
Total non-interest expense	53	47	43	41	39
Net income before tax	25	18	15	—	—
Income tax expense	6	4	3	4	4
Net income	19	14	12	15	15
Basic earnings per common share	2.51	1.83	1.56	1.94	2.06
Diluted earnings per common share	2.47	1.81	1.55	1.92	2.05

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	24	26	28	24	22
Interest-bearing bank balances	137	123	67	13	47
Investment securities available-for-sale	294	280	282	332	565
Investment securities held-to-maturity, fair value of $188,563 and $196,040 at December 31, 2025 and December 31, 2024, respectively, net of allowance for credit losses-investments	195	209	217	229	—
Other investments, at cost	3	3	7	4	—
Loans held-for-sale	11	10	4	2	7
Loans held-for-investment	1,311	1,221	1,134	981	864
Less, allowance for credit losses	14	13	12	11	11
Net loans held-for-investment	1,297	1,207	1,122	970	853
Property and equipment - net	29	30	31	31	33
Lease right-of-use asset	2	2	3	3	3
Bank owned life insurance	32	31	30	30	29
Other real estate owned	168,000	543,000	622,000	934,000	1
Intangible assets	289,000	446,000	604,000	761,000	919,000
Goodwill	15	15	15	15	15
Other assets	18	20	21	19	8
Total assets	2,058	1,958	1,828	1,673	1,585
Non-interest bearing	467	463	432	461	445
Interest bearing	1,282	1,213	1,079	924	917
Total deposits	1,750	1,676	1,511	1,385	1,361
Securities sold under agreements to repurchase	107	103	63	69	54
Junior subordinated debt	15	15	15	15	15
Lease liability	2	3	3	3	3
Other liabilities	16	17	14	11	10
Total liabilities	1,890	1,814	1,697	1,555	1,444
Preferred stock, par value $1.00 per share; 10,000,000 shares authorized; none issued and outstanding	—	—	—	—	—
Common stock, par value $1.00 per share; 20,000,000 shares authorized; issued and outstanding 7,693,215 at December 31, 2025, and 7,644,424 at December 31, 2024	8	8	8	8	8
Nonvested restricted stock and stock units	3	3	2	1	—
Additional paid in capital	95	94	93	93	92
Retained earnings	80	66	56	49	38
Accumulated other comprehensive loss	−18	−25	−28	−32	3
Total shareholders equity	168	144	131	118	141
Total liabilities and shareholders equity	2,058	1,958	1,828	1,673	1,585

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	2	2	2	2	2
Net premium amortization AFS	−3	−3	−3	2	2
Net premium amortization HTM	−698,000	−626,000	−575,000	−264,000	—
Provision for credit losses	770,000	809,000	1	−152,000	335,000
Write-downs of other real estate owned	125,000	79,000	44,000	69,000	50,000
Originations of HFS loans	−115	−79	−50	−64	−140
Sales of HFS loans	118	76	49	72	178
Gain on sale of HFS loans	−3	−2	−1	−2	—
Loss on sale of securities	—	—	1	—	—
Loss on fair value of equity investments	−2,000	−20,000	−19,000	−2,000	−4,000
Accretion on acquired loans	—	—	−81,000	−49,000	−135,000
Decrease (increase) in other assets	1	1	−2	−2	994,000
(Decrease) increase in other liabilities	−1	2	4	457,000	−715,000
Net cash provided by operating activities	19	12	13	22	58
Proceeds from sale of securities available-for-sale	—	—	39	—	—
Purchase of investment securities available-for-sale	−43	−18	−6	−106	−271
(Purchase) sale of other investment securities	−303,000	2	−3	−2	−87,000
Maturity/call of investment securities available-for-sale	38	28	22	62	54
Maturity/call of investment securities held-to-maturity	15	8	12	12	—
Increase in loans	−91	−87	−153	−117	−19
Proceeds from sale of other real estate owned	377,000	—	419,000	117,000	201,000
Purchase of property and equipment	−1	−1	−1	−1	−813,000
Net disposal of property and equipment	30,000	—	—	115,000	19,000
Net cash used by investing activities	−81	−68	−90	−163	−236
Increase in deposit accounts	74	165	126	24	172
Decrease in federal funds borrowed	—	—	−22	22	—
Advances from the Federal Home Loan Bank	—	—	289	118	—
Repayment of advances from the Federal Home Loan Bank	—	−90	−249	−68	—
Increase (decrease) in securities sold under agreements to repurchase	4	40	−6	15	13
Proceeds from dividend reinvestment plan	386,000	410,000	438,000	388,000	368,000
Dividends paid on common stock	−5	−4	−4	−4	−4
Net cash provided by financing activities	73	111	134	109	182
Net increase in cash and cash equivalents	11	55	57	−32	4
Cash paid during the period for: interest	34	33	21	3	3
Income Taxes	6	4	4	4	5
Unrealized gain on securities available-for-sale, net of tax	7	1	3	−23	−8
Transfer of loans to other real estate owned	—	—	44,000	—	145,000
Recognition of operating lease right of use asset	—	—	835,000	—	—
Recognition of operating lease liability	—	—	835,000	—	—
Termination of operating lease right of use asset	—	476,000	—	—	—
Termination of operating lease liability	—	510,000	—	—	—

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