other material
confidence high
sentiment neutral
materiality 0.55
First Community Corp reports $1.7B assets, 12.7% loan growth; NIM compression slows
FIRST COMMUNITY CORP /SC/
- Total assets $1.7B; loan portfolio $1.03B with 12.7% LTM growth (2Q23 annualized 15.9%).
- NIM declined 17bps in Q2 vs 23bps in Q1; entered $150M pay-fixed/receive-floating swap at 3.58%.
- Uninsured deposits $422.4M (29.7% of total); cumulative cycle deposit beta 19.8%.
- Tangible book value per share $18.11 (ex AOCI); dividend yield 3.24% with 86 consecutive quarters.
- Financial planning AUM $422M; residential mortgage production $107.2M in 1H23.