FIRST COMMUNITY CORP /SC/
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
FCCO$32.81-0.9%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in thousands except per share amounts) | 2024 | 2023 | 2022 |
| Interest income: | |||
| Loans, including fees | $66,431 | $52,317 | $39,234 |
| Investment securities - taxable | 16,084 | 16,715 | 9,725 |
| Investment securities - non taxable | 1,420 | 1,471 | 1,525 |
| Other short term investments and CDs | 5,487 | 2,194 | 633 |
| Total interest income | 89,422 | 72,697 | 51,117 |
| Interest expense: | |||
| Deposits | 31,173 | 16,563 | 1,849 |
| Securities sold under agreement to repurchase | 2,183 | 1,658 | 227 |
| Other borrowed money | 4,026 | 5,584 | 1,098 |
| Total interest expense | 37,382 | 23,805 | 3,174 |
| Net interest income | 52,040 | 48,892 | 47,943 |
| Provision for (release of) credit losses | 809 | 1,129 | (152) |
| Net interest income after provision for (release of) credit losses | 51,231 | 47,763 | 48,095 |
| Non-interest income: | |||
| Deposit service charges | 952 | 963 | 960 |
| Mortgage banking income | 2,368 | 1,406 | 1,900 |
| Investment advisory fees and non-deposit commissions | 6,181 | 4,511 | 4,479 |
| Loss on sale of securities | — | (1,249) | — |
| Gain (loss) on sale of other real estate owned | — | 151 | (45) |
| Loss on sale of other assets | (5) | — | (73) |
| Other non-recurring income | 105 | 121 | 7 |
| Other | 4,403 | 4,518 | 4,341 |
| Total non-interest income | 14,004 | 10,421 | 11,569 |
| Non-interest expense: | |||
| Salaries and employee benefits | 29,263 | 25,864 | 25,357 |
| Occupancy | 3,094 | 3,157 | 3,002 |
| Equipment | 1,451 | 1,566 | 1,343 |
| Marketing and public relations | 1,511 | 1,496 | 1,259 |
| FDIC Insurance assessments | 1,177 | 904 | 468 |
| Other real estate expense (income) | 103 | (112) | 308 |
| Amortization of intangibles | 158 | 158 | 158 |
| Other | 10,708 | 10,111 | 9,358 |
| Total non-interest expense | 47,465 | 43,144 | 41,253 |
| Net income before tax | 17,770 | 15,040 | 18,411 |
| Income tax expense | 3,815 | 3,197 | 3,798 |
| Net income | $13,955 | $11,843 | $14,613 |
| Basic earnings per common share | $1.83 | $1.56 | $1.94 |
| Diluted earnings per common share | $1.81 | $1.55 | $1.92 |
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