FCCO · First Community Corporation

First Community Corporation delivered robust Q1 2026 results with GAAP net income of $5.498 million, a 37.6% increase year-over-year, driven by net interest income growth to $18.4 million and non-interest income up 20.3% YoY to $4.790 million, including new contributions from the Signature Bank acquisition's Government Guaranteed Lending line. Adjusted net income excluding $1.581 million in merger expenses reached $6.754 million, up 69.0% YoY. Diluted EPS was $0.59 GAAP and $0.72 adjusted. Balance sheet expansion was strong, with total loans at $1.549 billion (13.2% organic annualized growth) fueled by record $91.2 million commercial production, and deposits at $2.048 billion (16.0% organic growth), including 26.6% non-interest bearing. Net interest margin expanded 5 bps to 3.37% for the eighth straight quarter, supported by higher loan yields at 5.94% despite purchase accounting drag. Credit metrics remained pristine with NPAs at 0.04% and net charge-offs of just $5 thousand. Capital position strengthened, with TCE ratio at 7.93% and all bank ratios well above well-capitalized thresholds. The Board approved the 97th consecutive $0.16 quarterly dividend, payable May 19 to May 5 record holders, alongside minor share repurchases. The January 8 Signature Bank deal expanded into Atlanta and added SBA lending capabilities, with Preferred Lender status secured April 10. Management highlighted deposit granularity and loan quality amid higher payoffs.