First Community profit rises on Signature Bank of Georgia acquisition

First Community Corporation (NASDAQ:FCCO), the holding company for First Community Bank, delivered a robust start to 2026, reporting net income of $5.498 million, or $0.59 per diluted share.

When excluding non-recurring merger expenses related to its recent expansion, the Lexington, South Carolina-based bank saw adjusted net income reach $6.754 million, or $0.72 per share, reflecting the successful integration of its latest strategic partnership.

The quarter’s results were primarily shaped by the acquisition of Signature Bank of Georgia, which closed on January 8, 2026.

This move significantly expanded the bank’s footprint, helping drive total deposits to $2.048 billion and total loans to $1.549 billion at the end of the period.

The integration has already begun to yield operational benefits, with the bank’s net interest margin expanding to 3.37%, supported by a disciplined approach to deposit pricing and a high-yielding loan portfolio.

Asset quality remained a highlight for the company, as non-performing assets (NPAs) stood at a negligible 0.04% of total assets.

In a signal of continued confidence in its capital position and cash flow, the Board of Directors approved a cash dividend of $0.16 per share.

The dividend is payable on May 19, 2026, to shareholders of record as of May 5, 2026.