Quarterly ResultAug 12, 2026, 04:28 PM
First Community Q2 Net Income +46.5%; Acquires Signature Bank
AI Summary
First Community Corporation reported strong financial results for the second quarter and first half of 2026, with net income and diluted EPS showing significant year-over-year growth. The company's total assets and deposits also increased substantially. A key driver of this growth was the successful acquisition of Signature Bank of Georgia on January 8, 2026, which contributed significantly to the balance sheet expansion. The company also declared a quarterly common stock dividend.
Key Highlights
- Q2 2026 net income increased 46.5% to $7.6 million compared to Q2 2025.
- Q2 2026 diluted earnings per common share rose 19.4% to $0.80.
- H1 2026 net income increased 42.6% to $13.1 million compared to H1 2025.
- Total assets grew 15.3% to $2.37 billion as of June 30, 2026, from December 31, 2025.
- Total deposits increased 15.7% to $2.02 billion as of June 30, 2026.
- Acquired Signature Bank of Georgia for approximately $49.7 million in common stock.
- Acquisition added $191.4 million in net loans and $228.2 million in deposits.
- Declared a common stock dividend of $0.16 per share for Q2 2026.
Price Impact
More from FCCO