FCCO combines a defensive low-cost deposit franchise with Atlanta expansion and SBA fee growth, offering a probability-weighted five-year target of $49.08 versus $32.49 today.
Overview
First Community Corporation is the holding company for First Community Bank, a South Carolina-focused commercial and retail bank with mortgage banking and investment advisory operations. Its relationship-based model serves small and midsized businesses, professionals, and retail depositors through localized decisions, rapid execution, and customized pricing, producing a sticky, granular deposit base. **Q2 2026 demonstrated strong operating momentum:** net income rose 46.5% year over year to $7.595 million, diluted EPS increased 19.4% to $0.80, and adjusted diluted EPS was $0.84 versus the $0.71 Zacks consensus. Revenue increased 28.71% to $25.138 million, while tax-equivalent net interest margin expanded 14 basis points sequentially to 3.51%, its ninth consecutive quarterly increase. The Signature Bank acquisition and SBA Preferred Lender designation are near-term catalysts, while investment advisory revenue rose 30.6% and mortgage income 21.7%. At $32.49, FCCO trades at 13.2x trailing earnings, above the 11.7x peer and 12.2x industry averages, but the report’s DCF value is $49.68 and its probability-weighted five-year target is $49.08. The principal risks are CRE concentration and the January 2027 leadership transition.