FCCO authorizes $7.1M share repurchase; announces Augusta office closure

FIRST COMMUNITY CORP /SC/

Board authorized up to $7.1M in common stock repurchases (5.3% of equity) on May 14, 2024.
Banking office at 771 Broad St, Augusta to close June 27; annual savings ~$327,000.
1Q24 loan growth annualized 8.3%; total deposits $1.66B with cost of deposits 1.90%.
NIM (non-FTE) flattened to 2.79% in March 2024; $150M interest rate swap added 15 bps.

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