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First Community posts USD 1.552m of 3Q14 net income.

BANKING AND CREDIT NEWS-October 22, 2014--First Community posts USD 1.552m of 3Q14 net income

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22 October 2014 -- South Carolina US-based bank holding company First Community Corp (NASDAQ: FCCO) said that on a linked quarter basis its net income increased 29.2% from USD 1.201m in 2Q14 to USD 1.552m in 3Q14.

Year-over-year, net income increased 48.4% from USD 1.046m in 3Q13 to USD 1.552m in 3Q14.

Diluted earnings per common share were USD 0.23 for 3Q14 as compared to USD 0.18 for 2Q14 and USD 0.20 for 3Q13.

Year-to-date 2014 net income was USD 3.615m compared to USD 3.287m during the first nine months of 2013. Diluted earnings per share for the first half of 2014 were USD 0.55, compared to USD 0.62 during the same time period in 2013.

The nine month results for 2014 include merger and acquisition related expenses of USD 474 thousand. Core net income (excluding securities gains/losses, merger expenses, and loss on early extinguishment of debt) year-to-date in 2014 was USD 3.930m compared to USD 3.303m during the same time period in 2013.

Core diluted earnings per share for the nine month period of 2014 were USD 0.60 as compared to USD 0.62 during the same time period in 2013.

First Community is the holding company for First Community Bank, a local community bank based in the Midlands of South Carolina. First Community Bank operates fourteen banking offices located in the Midlands, Aiken, and Augusta, Georgia in addition to First Community Financial Consultants, a financial planning/investment advisory division.

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Publication:M2 Banking & Credit News (BCN)
Date:Oct 22, 2014
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