secwatch.observer — SEC 8-K summary
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Issuer:     FIRST COMMUNITY CORP /SC/ (FCCO)
CIK:        0000932781
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0001552781-23-000233
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FCCO Q1 net income $3.46M, EPS $0.45; deposit growth 10.0% annualized; NIM 3.19%
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- Net income of $3.463M ($0.45 diluted EPS) vs $3.489M ($0.46) in Q1 2022; pre-tax pre-provision earnings $4.496M.
- Total deposits grew $34.8M (10.0% annualized) to $1.42B; pure non-CD deposits up $30.9M (9.15% annualized).
- Net interest margin (taxable equivalent) 3.19%, down from 3.42% in Q4 2022 due to rising deposit costs.
- Asset quality stable: non-performing assets ratio 0.29%, net loan recoveries $15K; allowance 1.15% of loans.
- Board declared $0.14 per share dividend, payable May 16, 2023; share repurchase plan of up to 375K shares approved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932781/000155278123000233/0001552781-23-000233-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932781/000155278123000233/e23219_fcco-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-23-000233

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