First Community Corp Q3 net income $1.76M, down 56% QoQ; EPS $0.23; loan growth 22.9% annualized

FIRST COMMUNITY CORP /SC/

2023-Q3 EPS reported $1.12 revenue$692,000

Net income fell to $1.756M ($0.23 diluted EPS) from $3.327M ($0.43) in Q2 2023 and $3.951M ($0.52) in Q3 2022.
Total loans increased $59.5M (22.9% annualized) and total deposits rose $71.3M (19.9% annualized) during Q3.
Sold $39.9M of U.S. Treasuries at a pre-tax loss of $1.2M to improve balance sheet efficiency and fund loan growth.
Board declared $0.14/share cash dividend payable Nov 14 to holders of record Oct 31; 87th consecutive quarterly dividend.
Fraud losses spiked $230K due to mail check fraud; bank deployed countermeasures and case volumes are abating.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST COMMUNITY CORP /SC/ reported the third quarter of 2023 results: net income $1.756 million, EPS $0.23 per common share.

Period: the third quarter of 2023
Net income: $1.756 million
EPS: $0.23 per common share
Result: reported results

Exact text from the filing

Diluted earnings per common share were $0.23 for the third quarter of 2023

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Source: SEC EDGAR

accession 0001552781-23-000409

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