secwatch.observer — SEC 8-K summary
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Issuer:     FIRST COMMUNITY CORP /SC/ (FCCO)
CIK:        0000932781
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0001552781-24-000238
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FCCO Q1 net income falls to $2.6M ($0.34) from $3.5M YoY; deposit growth strong
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- Net income $2.597M ($0.34 diluted EPS) vs $3.463M ($0.45) YoY; net interest margin 2.79% vs 3.19%.
- Total deposits $1.578B, customer deposits up 15% annualized; loans grew 8.3% annualized to $1.157B.
- Non-performing assets 0.04% of total assets; net charge-offs $22K; credit quality excellent.
- Cash dividend $0.14 per share, 89th consecutive quarterly dividend, payable May 14 to holders of record April 30.
- Announced closure of Augusta, GA branch effective June 27, 2024; expected annual cost savings $327K.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932781/000155278124000238/0001552781-24-000238-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932781/000155278124000238/e24193_fcco-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000238

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