Management ChangeJul 27, 2026, 04:32 PM
First Community Announces Multi-Year Leadership Transition Plan
AI Summary
First Community Corporation announced a multi-year leadership transition plan, with J. Ted Nissen retiring as CEO and President of First Community Bank by December 31, 2026. Vaughan R. Dozier will become CEO and Joseph A. "Drew" Painter will become President of First Community Bank, effective January 1, 2027. The company also highlighted its Q2 2026 performance and the recent acquisition of Signature Bank of Georgia, which closed on January 8, 2026, adding $195.7 million in loans and $229.8 million in deposits. The investor presentation also covered financial metrics like NIM expansion, loan growth, and capital ratios.
Key Highlights
- J. Ted Nissen to retire as First Community Bank CEO and President by December 31, 2026.
- Vaughan R. Dozier to become First Community Bank CEO, effective January 1, 2027.
- Joseph A. "Drew" Painter to become First Community Bank President, effective January 1, 2027.
- Signature Bank of Georgia acquisition closed January 8, 2026, adding $195.7 million in loans.
- Signature Bank of Georgia acquisition added $229.8 million in deposits.
- Q2 2026 loan portfolio growth was $29.1 million, an annualized rate of 7.5%.
- Net Interest Margin (NIM) showed nine consecutive quarters of expansion.
- Cash dividend increased to $0.17 per share, payable August 18, 2026.
Price Impact
More from FCCO