secwatch.observer — SEC 8-K summary
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Issuer:     FIRST COMMUNITY CORP /SC/ (FCCO)
CIK:        0000932781
Form:       8-K
Filed at:   2024-07-29T23:59:59+00:00
Accession:  0001552781-24-000411
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Community reports Q2 loan growth 11.1% annualized; NIM improves to 2.96% in June
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- Loan portfolio grew $31.9M in Q2 (11.1% annualized); LTM growth 15.2%.
- Net interest margin (non-FTE) rose from 2.77% in Feb to 2.96% in June; $17.7M brokered CD called in April.
- Non-interest expense $11.8M in Q2; closed Augusta branch effective June 27, saving $327K annually.
- Dividend increased to $0.15/share (payable 8/13/24); $7.1M share repurchase plan in place.
- Total deposits $1.66B, 29% non-interest bearing; uninsured deposits 28.7% of total.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932781/000155278124000411/0001552781-24-000411-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932781/000155278124000411/e24318_fcco-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000411

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