First Community Reports Q2 Earnings, Sets New Records and Announces Acquisition

First Community Corporation reported record Q2 earnings with net income reaching $5.186 million, a 29.7% increase from the previous quarter and a 58.8% increase from the same period last year. Diluted earnings per share rose to $0.67 and the net interest margin expanded to 3.21%. The company also surpassed $1 billion in assets under management and achieved record mortgage production. Management remains optimistic about future growth, supported by a planned acquisition of Signature Bank of Georgia.

First Community Corporation (FCCO) reported strong financial performance for the second quarter of 2025, with net income reaching $5.186 million, a 29.7% increase from the previous quarter and a 58.8% increase from the same period last year. Diluted earnings per share (EPS) rose to $0.67, while the net interest margin expanded to 3.21% [1].

The company also achieved significant milestones, surpassing $1 billion in assets under management (AUM) for the first time, with a record $1.011 billion at June 30, 2025 [2]. This growth was driven by net new asset growth and market appreciation. Additionally, mortgage production hit a record $62.9 million during the quarter, reflecting strong demand in the housing market.

First Community Corporation's CEO, Ted Nissen, attributed the company's performance to robust loan production and an expanded net interest margin. However, he noted that higher loan payoffs offset some of the growth in loan production. Despite this, the company's annualized growth rate for loans remained solid at 6.5% [2].

The company's financial health is further bolstered by its excellent key credit quality metrics, with net charge-offs, including overdrafts, at $10 thousand for the second quarter of 2025. The non-performing assets ratio stood at 0.02%, and the total past due loans ratio was also 0.02% at June 30, 2025 [2].

First Community Corporation's management is optimistic about future growth, supported by the planned acquisition of Signature Bank of Georgia. The company expects to complete this acquisition by early 2026 and anticipates positive loan growth momentum into the third quarter. Additionally, the company sees continued proactive management of deposit pricing and expects operational conversion post-acquisition by mid-2026 [1].

References:

[1] Reuters. (2025). First Community Corporation Reports Record Q2 Earnings. Retrieved from [https://www.tradingview.com/news/reuters.com,2025:newsml_PLXC7C23C:0-lender-first-community-s-q2-net-income-up-58-8/](https://www.tradingview.com/news/reuters.com,2025:newsml_PLXC7C23C:0-lender-first-community-s-q2-net-income-up-58-8/)

[2] MarketScreener. (2025). First Community Corporation Announces Record Earnings and Increased Cash Dividend. Retrieved from [https://www.marketscreener.com/news/first-community-corporation-announces-record-earnings-and-increased-cash-dividend-ce7c5cd2dd8bf42d](https://www.marketscreener.com/news/first-community-corporation-announces-record-earnings-and-increased-cash-dividend-ce7c5cd2dd8bf42d)