First Community Corp Q3 net income $3.86M, EPS $0.50; NIM expands to 2.96%

FIRST COMMUNITY CORP /SC/

2024-Q3 EPS reported $1.26 revenue$722,000

Net income $3.861M ($0.50 diluted EPS) vs $3.265M ($0.42) in Q2 and $1.756M ($0.23) in Q3 2023; YTD $9.723M vs $8.546M.
Total loans grew $7.5M in Q3 (2.5% annualized); deposits grew $39.5M (9.8% annualized). Customer deposits (ex-brokered) up $60M (15.3% annualized).
Net interest margin (tax-equivalent) improved to 2.96% from 2.93% in Q2; loan portfolio yield up 13 bps to 5.73%.
Cash dividend $0.15/share declared (91st consecutive quarter), payable Nov 12; new share repurchase plan up to $7.1M authorized.
Strong credit quality: NPAs ratio 0.04%, past due 0.11%, net charge-offs $68K. Tangible book value $16.78 (up from $15.85 in Q2).

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