FIRST COMMUNITY CORP /SC/
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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FY2025 · Filed Mar 16, 2026
FCCO$32.81-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (Amounts in thousands) | 2025 | 2024 | 2023 |
| Cash flows from operating activities: | |||
| Net income | $19,205 | $13,955 | $11,843 |
| Adjustments to reconcile net income to net cash provided in operating activities | |||
| Depreciation | 1,713 | 1,706 | 1,760 |
| Net premium amortization AFS | (2,902) | (3,136) | (2,507) |
| Net premium amortization HTM | (698) | (626) | (575) |
| Provision for credit losses | 770 | 809 | 1,129 |
| Write-downs of other real estate owned | 125 | 79 | 44 |
| Gain on sale of other real estate owned | (127) | — | (151) |
| Originations of HFS loans | (115,479) | (79,376) | (50,253) |
| Sales of HFS loans | 117,659 | 76,497 | 49,004 |
| Gain on sale of HFS loans | (3,255) | (2,350) | (1,405) |
| Amortization of intangibles | 158 | 158 | 158 |
| Loss on sale of securities | — | — | 1,249 |
| Loss on fair value of equity investments | (2) | (20) | (19) |
| Accretion on acquired loans | — | — | (81) |
| Loss on sale of other assets | — | 5 | — |
| Stock-based compensation | 1,164 | 753 | 794 |
| Decrease (increase) in other assets | 1,483 | 1,302 | (1,628) |
| (Decrease) increase in other liabilities | (1,125) | 1,868 | 3,658 |
| Net cash provided by operating activities | 18,689 | 11,624 | 13,020 |
| Cash flows from investing activities: | |||
| Proceeds from sale of securities available-for-sale | — | — | 38,662 |
| Purchase of investment securities available-for-sale | (42,539) | (17,733) | (6,025) |
| (Purchase) sale of other investment securities | (303) | 1,766 | (2,589) |
| Maturity/call of investment securities available-for-sale | 38,259 | 27,628 | 21,891 |
| Maturity/call of investment securities held-to-maturity | 14,999 | 8,391 | 12,074 |
| Increase in loans | (90,528) | (86,588) | (153,029) |
| Proceeds from sale of other real estate owned | 377 | — | 419 |
| Purchase of property and equipment | (1,110) | (1,097) | (1,071) |
| Net disposal of property and equipment | 30 | — | — |
| Net cash used by investing activities | (80,815) | (67,633) | (89,668) |
| Cash flows from financing activities: | |||
| Increase in deposit accounts | 73,643 | 164,900 | 125,619 |
| Decrease in federal funds borrowed | — | — | (22,000) |
| Advances from the Federal Home Loan Bank | — | — | 289,000 |
| Repayment of advances from the Federal Home Loan Bank | — | (90,000) | (249,000) |
| Increase (decrease) in securities sold under agreements to repurchase | 4,079 | 40,247 | (5,880) |
| Proceeds from dividend reinvestment plan | 386 | 410 | 438 |
| Dividends paid on common stock | (4,750) | (4,415) | (4,235) |
| Net cash provided by financing activities | 73,358 | 111,142 | 133,942 |
| Net increase in cash and cash equivalents | 11,232 | 55,133 | 57,294 |
| Cash and cash equivalents at beginning of year | 149,828 | 94,695 | 37,401 |
| Cash and cash equivalents at end of year | $161,060 | $149,828 | $94,695 |
| Supplemental disclosure: | |||
| Cash paid during the period for: interest | $33,783 | $33,235 | $20,750 |
| Income Taxes | $5,504 | $3,761 | $3,574 |
| Non-cash investing and financing activities: | |||
| Unrealized gain on securities available-for-sale, net of tax | $7,300 | $1,370 | $2,871 |
| Adoption of ASU 2016-13 (CECL transition) | $— | $— | $337 |
| Transfer of loans to other real estate owned | $— | $— | $44 |
| Recognition of operating lease right of use asset | $— | $— | $835 |
| Recognition of operating lease liability | $— | $— | $835 |
| Termination of operating lease right of use asset | $— | $476 | $— |
| Termination of operating lease liability | $— | $510 | $— |
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