| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 0.21 | 4.5% | 4.5% |
| Total Income | 0.21 | 4.5% | 4.5% |
| Expenditure | -9.53 | 66.9% | 47.5% |
| PBT | 9.74 | 64.0% | 45.8% |
| Net Profit | 7.60 | 38.2% | 46.4% |
| OPM | — | ||
| NPM | 100.00% | 0.00pp | 0.00pp |
| EPS | 0.81 | 35.0% | 19.1% |
First Community Corporation Announces Leadership Transition, Second Quarter Results and Increased Cash Dividend
23 Jul 2026 · 23 Jul, 1:43 am
Summary
First Community Corporation announced its second quarter 2026 financial results, reporting a net income of $7.595 million, a significant 46.5% increase year-over-year, and diluted EPS of $0.80, up 19.4% YoY. The company achieved its ninth consecutive quarter of net interest margin expansion, reaching 3.51% on a tax-equivalent basis. Management highlighted strong organic loan and deposit growth, alongside a 30.6% increase in investment advisory revenue, as key drivers of performance. The company also announced a leadership transition plan and an increased cash dividend.
Key Highlights
- 1
Net income for the second quarter of 2026 was $7.595 million, an increase of 46.5% year-over-year and 38.1% on a linked quarter basis.
- 2
Diluted EPS for the second quarter of 2026 was $0.80, an increase of 19.4% year-over-year and 35.6% on a linked quarter basis.
- 3
Net interest margin, on a tax equivalent basis, was 3.51%, an expansion of fourteen basis points compared to the first quarter of 2026, marking the ninth consecutive quarter of margin expansion.
- 4
Total deposits were $2.025 billion at June 30, 2026, with organic deposit growth of $45.5 million during the first six months of 2026, representing an annualized growth rate of 5.2%.
- 5
Total loans were $1.578 billion at June 30, 2026, with year-to-date loan growth of $267.3 million, including an annualized organic loan growth rate of 11.0% for the first half of 2026.
- 6
Investment advisory revenue increased by 30.6% year-over-year to $2.286 million in the second quarter of 2026, with Assets Under Management (AUM) reaching $1.378 billion.
- 7
The company announced an increased cash dividend for the second quarter of 2026 of $0.17 per common share, marking the 98th consecutive quarter of cash dividends paid.
Management Comments
Mike Crapps
Through his passion and hard work, Ted has contributed so much to so many during his very distinguished career. His contributions to First Community Bank have been significant, his impact is felt throughout our organization, and we will continue to benefit from the legacy that he has created for years to come. Words are not adequate to express our thanks to Ted for all that he has done for First Community and for all that he has meant to our board, our executive team, our employees, our customers, and our community members. We all wish him well as he moves into this next season. The entire board is pleased that our performance enables the company to continue its cash dividend for the 98th consecutive quarter.
Jimmy Chao
The long-term success and sustainability of First Community Bank has been and continues to be an ongoing focus of our company and we have made it a priority to invest in our people to prepare them for future leadership opportunities. This current leadership transition began in 2023 and it has been implemented in stages over these past several years. Historically, most of our bank’s growth and success has been driven organically under the leadership of Vaughan and Drew. We are committed to a seamless and successful leadership transition of the CEO and President roles to Vaughan and Drew and have great confidence in their partnership leading our bank to even greater success. While Ted has chosen to leave his role a little earlier than planned due to personal health reasons, we are fortunate that he will continue in a consulting role through December 31, 2027 to help ensure a smooth transition. Our board of directors is incredibly grateful to Ted for all of his many contributions to First Community through the years. He has generously shared his time and talents with our company and led with a servant’s heart to impact lives for success and significance.
Informational and educational content only. Not investment advice.