secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST COMMUNITY CORP /SC/ (FCCO)
CIK:        0000932781
Form:       8-K
Filed at:   2022-09-16T23:59:59+00:00
Accession:  0001552781-22-000556
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FCCO provides 2Q22 operational update at investor conference; NIM expands, NPAs rise
--------------------------------------------------------------------------------

- Loan growth of $40.5M in 2Q22 (18.6% annualized); driven by CRE and Midlands/Upstate SC.
- NIM expanded 3 bps to 2.90%; net interest income impacted by $284K prepayment loss on CMOs.
- NPAs increased $3.9M to $5.3M (0.32% of assets) due to one $4.1M CRE credit at 76% LTV.
- Dividend maintained for 82 consecutive quarters; current yield 2.83%.
- Near-term EPS target of $2.00; longer-term targets 1.20% ROA, 14.00% ROTE, 65.00% efficiency ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932781/000155278122000556/0001552781-22-000556-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932781/000155278122000556/e22425_fcco-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-22-000556

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer