First Community Q1 net income rises 38%, boosted by Signature Bank deal

First Community (South Carolina)

22/04/2026 14:10

Overview

US community bank's Q1 net income rose 38% yr/yr, diluted EPS up 16% yr/yr

Company's Q1 results include impact of Signature Bank acquisition, boosting deposits and loans

Asset quality remained strong, with non-performing assets at 0.04% and minimal charge-offs

Outlook

Company says it is well positioned for future SBA loan production after receiving Preferred Lender status

Result Drivers

ACQUISITION IMPACT - Signature Bank acquisition drove substantial increases in deposits and loans

NET INTEREST MARGIN EXPANSION - Margin widened for eighth straight qtr, supported by improved loan yields and portfolio growth

NON-INTEREST INCOME GROWTH - Increase in non-interest income partly due to new Government Guaranteed Lending business from acquisition

Company press release: ID:nPn42mKBba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.59
Q1 Net Income
$5.5 mln
Q1 Net Interest Income
$18.4 mln
Q1 Net Interest Margin
3.37%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for First Community Corp (South Carolina) is $36.00, about 19.1% above its April 21 closing price of $30.22

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)