First Community Corp Q2 2026: Net Income Up 46% on SGBG Merger, Margin Expands to 3.50%

summarizeSummary

First Community Corp reported Q2 2026 net income of $7.6 million, up 46% year-over-year, with net interest margin expanding to 3.50% following its Signature Bank of Georgia acquisition. Total assets grew to $2.37 billion and the company authorized a new $7.5 million share repurchase plan.

check_boxKey Events · Earnings and Guidance · FCCO

• Q2 Net Income Up 46%

  Net income rose to $7.6 million ($0.80 diluted EPS) from $5.2 million ($0.67) a year ago, driven by the SGBG acquisition and higher net interest income.

• Net Interest Margin Expands

  Net interest margin improved 31 basis points to 3.50% from 3.19%, with average earning assets up $310.6 million to $2.2 billion.

• Balance Sheet Growth

  Total assets increased 15% to $2.37 billion and total deposits grew 16% to $2.02 billion, reflecting the SGBG merger and organic loan growth.

• New $7.5M Buyback Authorized

  Board approved a new repurchase plan on May 7, 2026, expiring May 5, 2027; no shares have been repurchased under the plan through August 12, 2026.

auto_awesomeAnalysis · FCCO · Finance

A 46% jump in net income to $7.6 million underscores the payoff from January's Signature Bank of Georgia acquisition, which also helped widen the net interest margin by 31 basis points to 3.50%. The balance sheet expanded meaningfully—total assets up 15% to $2.37 billion and deposits up 16% to $2.02 billion—while credit quality stayed pristine with non-performing assets at just 0.04% of total assets. A new $7.5 million buyback was authorized, though no shares have been repurchased yet. This filing offers the first complete look at the combined entity's profitability and capital position since the merger closed.