First Community Corp Q4 EPS $0.55 (+28% YoY); deposits up 10.9%, wholesale debt cut 92%

FIRST COMMUNITY CORP /SC/

2024-FY EPS reported $1.81 revenue$952,000

Net income Q4 $4.232M ($0.55 diluted EPS) vs $3.297M ($0.43) in Q4 2023; FY2024 net income $13.955M ($1.81 EPS) vs $11.843M ($1.55).
Total loans grew $86.5M (7.6%) in 2024; total deposits up $164.9M (10.9%). Wholesale funding cut from $138.1M to $10.4M.
Net interest margin expanded to 3.00% in Q4 from 2.96% in Q3; December NIM 3.05%. Interest rate swap contributed 14 bps to loan yield.
Credit quality remains excellent: NPAs 0.04% of assets, net charge-offs only $65k for full year 2024.
Dividend $0.15/sh declared; 92nd consecutive quarterly dividend. Share repurchase plan of up to $7.1M remains active.

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