LEXINGTON, S.C., Jan. 21, 2015 /PRNewswire/ -- Today, First Community Corporation (Nasdaq: FCCO), the holding company for First Community Bank, reported net income available to common shareholders for the fourth quarter of 2014 of $1.51 million, an increase of 77.18% as compared to $850 thousand in the fourth quarter of 2013. Diluted earnings per common share were $0.22 for the fourth quarter of 2014 as compared to $0.16 for the fourth quarter of 2013. For the year ended December 31, 2014 net income available to common shareholders was $5.12 million compared to $4.14 million during year ended December 31, 2013. Diluted earnings per share for each year were $0.78. During 2014, the company's assets increased 28.27% to $812.36 million. First Community President and CEO Michael Crapps commented, "We are pleased with our company's financial results during 2014 and will continue to leverage the benefit from recent and planned growth."
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As previously announced, the company plans to expand its footprint with a banking office in Blythewood, South Carolina. Construction is underway at the site located at 201 Main Street, in the town of Blythewood. The office is expected to open in the Spring of 2015. In talking about First Community's latest expansion, Mr. Crapps commented, "Blythewood is a vibrant and growing community. We look forward to working with the businesses and members of this community to help them meet their financial goals." Crapps continued, "This new office is the latest in a series of growth for our company over the last year which included the acquisition of Savannah River Financial Corporation in Augusta, Georgia, the opening of a new banking office in downtown Columbia, and the purchase and assumption of deposits and certain loans from First South Bank's Columbia banking office."
Cash Dividend and Capital
The Board of Directors has approved an increase in the cash dividend for the fourth quarter of 2014 to $0.07. This dividend is payable on February 13, 2015 to shareholders of record of the company's common stock as of February 2, 2015. Mr. Crapps commented, "Our entire board is pleased that our company's strong financial performance enables us to increase the cash dividend. We are also proud that dividend payments have continued uninterrupted for 52 consecutive quarters."
Each of the regulatory capital ratios (Leverage, Tier I Risk Based and Total Risk Based) exceeds the well capitalized minimum levels currently required by regulatory statute. At December 31, 2014, the company's regulatory capital ratios (Leverage, Tier I Risk Based and Total Risk Based) were 10.02%, 16.09%, and 16.91%, respectively. This compares to the same ratios as of December 31, 2013 of 10.77%, 17.60%, and 18.68%, respectively. Additionally, the regulatory capital ratios for the company's wholly owned subsidiary, First Community Bank, were 9.56%, 15.38%, and 16.20% respectively as of December 31, 2014. Further, the company's ratio of tangible common equity to tangible assets indicates a high quality of capital with a ratio of 8.48% as of December 31, 2014.
Asset Quality
On a linked quarter basis, non-performing assets decreased by 3.80% to $9.53 million (1.18% of total assets) at the end of the quarter. The company believes this ratio compares very favorably with the bank's peer group average. Trouble debt restructurings (TDRs) that are still accruing interest increased during the quarter to $2.2 million primarily due to one large non-accrual loan that was upgraded and therefore put back on accrual status. Total non-accrual loans declined 3.08% on a linked quarter basis to $6.59 million at the end of the fourth quarter, although two large loan relationships totaling $1.17 million were moved into non-accrual status. Loans past due 30-89 days declined slightly this quarter decreasing the past due ratio from .44% to .40% on a linked quarter basis. For the year of 2014, net charge-offs were $967 thousand (0.28%). Net loan charge-offs for the quarter were $202 thousand (0.18% annualized ratio). The company believes that these levels compare very favorably to its peer group average. The ratio of classified loans plus OREO now stands at 20.28% of total bank regulatory risk-based capital as of December 31, 2014.
Balance Sheet
-------------
(Numbers in millions)
Quarter ending Quarter ending Quarter ending 12 Month 12 Month
12/31/14 12/31/13 9/30/14 $ Variance % Variance
-------- --------- -------- ---------- ----------
Assets
------
Investments $282.8 $227.0 $263.9 $55.8 24.6%
Loans 443.8 347.6 448.6 96.2 27.7%
Liabilities
-----------
Total Pure Deposits $504.5 $363.2 $518.7 $141.3 38.9%
Certificates of Deposit 165.1 133.9 168.3 31.2 23.3%
----- ----- ----- ---- ----
Total Deposits $669.6 $497.1 $687.0 $172.5 34.7%
Customer Cash Management 17.4 18.6 17.7 (1.2) (6.5%)
FHLB Advances 28.8 43.3 32.3 (14.5) (33.5%)
Total Funding $715.8 $559.0 736.9 156.8 28.1%
Cost of Funds* 0.47% 0.60% 0.49% (13 bps)
(*including demand deposits)
Cost of Deposits 0.26% 0.31% 0.26% (5 bps)
Mr. Crapps commented, "Through the previously mentioned acquisitions and organic growth, momentum in pure deposit growth has continued. During 2014, pure deposits grew by $141.3 million, an increase of 38.9%. Organic growth represented $27.8 million, or 19.67% of this growth. This has positioned us to drive down our cost of deposits to 0.26 basis points at year end. Loan growth continues to be a challenge. While loans increased $96.2 million or 27.7% during 2014, this increase came primarily through the acquisitions completed during the year and on an organic basis, loans decreased by $19.0 million during the year. Loan production during the year was 33.32% higher than in 2013 with total loan production of almost $80.0 million; however, this increase was not enough to overcome the headwinds of loan payoffs and loan demand that has not rebounded to pre-recessionary levels. During the second half of 2014, loan production was 16.10% higher than in the first half of the year and we are encouraged by this positive trend. Loan growth has been and will continue to be an area of intense focus for our company. In addition to sales and marketing initiatives, we are looking at additional activities and adjustments to support increased loan volume. We believe that these results will materialize in 2015. With our current level of liquidity, we have the funding available to support significant loan growth in the year ahead."
Revenue
Net Interest Income/Net Interest Margin
Net interest income was $6.19 million for the fourth quarter of 2014 which represents a 29.60% increase over $4.78 million in the fourth quarter of 2013. The net interest margin, on a tax equivalent basis, was 3.36% for the fourth quarter of 2014, which represents an increase from 3.29% during the fourth quarter of 2013. On a linked quarter basis, net interest margin declined 12 basis points, from 3.48% primarily due to the deposits acquired through the purchase and assumption agreement with First South Bank which were placed into investments.
Non-Interest Income
Non-interest income, adjusted for securities gains and losses and loss on the early extinguishment of debt, increased by 20.09% year-over-year to $2.34 million in the fourth quarter of 2014. During the quarter, the company repaid $3.50 million in Federal Home Loan Bank (FHLB) advances and experienced a $284 thousand loss on this early extinguishment of debt. This prepayment of the FHLB advances will enable the bank to save the expense of these borrowings in future periods. This loss was partially offset by a gain on the sale of securities of $80.0 thousand.
Production in the mortgage line of business was $24.7 million in the quarter, an increase of 6.93% as compared to the same period in 2013. This increased production resulted in mortgage fee revenue of $849 thousand, 6.19% higher than fourth quarter of 2013. During the year of 2014, the mortgage line of business benefitted from an increase in yields which grew to 3.51% in 2014 up significantly from 3.15% in 2013. Mr. Crapps noted, "Purchase transactions continue to represent the majority of the mortgage production, though that percentage trended down some during the fourth quarter."
It is also significant to note the revenue earned this year in the financial planning and investment advisory line of business. Led by a strong fourth quarter with revenues of $546 thousand, this line of business generated revenues of $1.27 million for the year, an increase of 30.45% over 2013. Mr. Crapps commented, "This line of business experienced good revenue growth in 2014. While there were some large pieces of business that contributed to this success, we also continue to grow recurring income streams that will be a benefit during future periods."
Non-Interest Expense
Non-interest expenses for the quarter were fairly stable increasing just 0.48% on a linked quarter basis. Salaries and benefits, the largest of the expense categories, increased $43 thousand or 1.23% during the quarter. The largest increases quarter to quarter were other real estate expense which increased $88 thousand or 83.81% related to taxes on two properties and the amortization of intangibles which increased $47 thousand or 73.44% due to the additional intangible assets acquired in the First South purchase and assumption transaction.
Other Matters
During its most recent regulatory examination of the bank's compliance with the Bank Secrecy Act and anti-money laundering laws and regulations (collectively referred to as the "BSA"), the bank's primary federal regulator, the Federal Deposit Insurance Corporation (the "FDIC"), identified certain matters that it deemed to be weaknesses in the bank's compliance with the BSA. As a result, the FDIC requested that the bank address certain BSA-related matters by entering into a proposed Consent Order (the "Proposed Order"). The Proposed Order would require the bank to enhance its BSA compliance program. The bank is engaged in cooperative discussions with the FDIC regarding the terms of the Proposed Order, which, when finalized, will set forth the specific actions required to address the matters raised by the FDIC. The final Consent Order will be filed by the company with the SEC once it has been finalized and entered into between the bank and the FDIC.
While the bank recognizes that certain technical aspects of its BSA compliance activities were affected by a temporary period of significant turnover in the bank's BSA staff, management believes that the bank recognized and addressed substantially all of these issues prior to the completion of the FDIC's regulatory examination. The bank believes that it is in compliance with substantially all of the requirements that are expected to be addressed in the final Consent Order, and the bank has already expanded its BSA compliance staff in an effort to ensure future compliance with the BSA. The bank does not anticipate any additional staffing needs beyond those already in place and does not anticipate any material additional expenses associated with the final Consent Order. Mr. Crapps commented, "Since the inception of our bank, we have demonstrated a commitment to regulatory compliance and a sound BSA compliance program resulting in 19 years of sound BSA performance. Compliance has been and continues to be a focus of our organization. While there were some temporary technical issues and the BSA program did not operate at a level that met the expectations of our bank and our regulators, we are confident that the actions taken will demonstrate our commitment to operating a sound BSA compliance program and lead to timely resolution of this matter. It is important to note that this issue will not affect the bank's day-to-day operations or our customers."
First Community Corporation stock trades on the NASDAQ Capital Market under the symbol "FCCO" and 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 of South Carolina as well as addition to First Community Financial Consultants, a financial planning/investment advisory division and Palmetto South Mortgage, a separate mortgage division.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans, goals, projections and expectations, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors, include, among others, the following: (1) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (2) the strength of the United States economy in general and the strength of the local economies in which we conduct operations may be different than expected resulting in, among other things, a deterioration in the credit quality or a reduced demand for credit, including the resultant effect on the company's loan portfolio and allowance for loan losses; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for loan loss, the rates of loan growth, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in the U.S. legal and regulatory framework; (5) adverse conditions in the stock market, the public debt markets and other capital markets (including changes in interest rate conditions) could have a negative impact on the company; (6) technology and cybersercurity risks, including potential business disruptions, reputational risks, and financial losses, associated with potential attacks on or failures by our computer systems and computer systems of our vendors and other third parties; (7) we may be unable to comply, or may need to devote more resources than currently expected in order to comply, with the requirements that will be set forth in our final BSA-related Consent Order with the FDIC, and (8) risks, uncertainties and other factors disclosed in our most recent Annual Report on Form 10-K filed with the SEC, or in any of our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K filed with the SEC since the end of the fiscal year covered by our most recently filed Annual Report on Form 10-K, which are available at the SEC's Internet site (http://www.sec.gov).
Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. We can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
FIRST COMMUNITY CORPORATION
BALANCE SHEET DATA;
(Dollars in thousands, except per share data)
At December 31,
2014 2013
---- ----
Total Assets $812,363 $633,309
Other short-term investments (1) 10,052 5,927
Investment Securities 282,814 227,030
Loans held for sale 4,124 3,790
Loans 443,844 347,597
Allowance for Loan Losses 4,132 4,219
Total Deposits 669,583 497,071
Securities Sold Under Agreements to Repurchase 17,383 18,634
Federal Home Loan Bank Advances 28,807 43,325
Junior Subordinated Debt 15,464 15,464
Shareholders' Equity 74,528 52,671
Book Value Per Common Share $11.18 $9.93
Tangible Book Value Per Common Share $10.25 $9.83
Tangible Book Value Per Common Share (Excluding AOCI) $10.06 $10.30
Equity to Assets 9.17% 8.32%
Tangible common equity to tangible assets 8.48% 8.23%
Loan to Deposit Ratio 66.90% 70.69%
Allowance for Loan Losses/Loans 0.93% 1.21%
Allowance for Loan Losses plus credit mark/Loans 1.33% 1.21%
Regulatory Ratios:
Leverage Ratio 10.02% 10.77%
Tier 1 Capital Ratio 16.09% 17.60%
Total Capital Ratio 16.91% 18.68%
Tier 1 Regulatory Capital $81,431 $68,756
Total Regulatory Capital $85,563 $72,975
(1) Includes federal funds sold, securities purchased under agreements to resell and interest-bearing deposits
Average Balances:
Three months ended Year ended
December 31, December 31,
2014 2013 2014 2013
---- ---- ---- ----
Average Total Assets $820,861 $637,139 $780,797 $625,802
Average Loans 451,334 349,830 439,174 344,110
Average Earning Assets 751,935 591,362 714,332 581,299
Average Deposits 676,415 508,292 635,238 497,521
Average Other Borrowings 64,540 69,686 51,871 69,022
Average Shareholders' Equity 73,523 53,339 69,760 53,837
Asset Quality: December 31, September 30, June 30, March 31, December 31,
2014 2014 2014 2014 2013
---- ---- ---- ---- ----
Loan Risk Rating by Category (End of Period)
Special Mention $13,818 $13,039 $11,274 $13,891 $10,708
Substandard 13,500 15,730 15,795 15,358 10,609
Doubtful - - - - -
Pass (includes held for sale) 416,526 419,787 417,601 414,619 326,280
$443,844 $448,556 $444,670 $443,868 $347,597
======== ======== ======== ======== ========
Nonperforming Assets:
Non-accrual loans $6,585 $6,795 $7,647 $7,865 $5,406
Other real estate owned 2,943 3,014 3,302 3,147 3,370
Accruing loans past due 90 days or more - 95 160 125 1
--- --- --- --- ---
Total nonperforming assets $9,528 $9,904 $11,109 $11,137 $8,777
====== ====== ======= ======= ======
Accruing trouble debt restructurings $2,200 $551 $560 $568 $576
Three months ended Year ended
December 31, December 31,
2014 2013 2014 2013
---- ---- ---- ----
Loans charged-off: $273 $271 $1,069 $1,048
Overdrafts charged-off 13 10 42 42
Loan recoveries (84) (24) (133) (146)
Overdraft recoveries - (4) (11) (12)
Net Charge-offs $202 $253 $967 $932
==== ==== ==== ====
Net charge-offs to average loans 0.04% 0.07% 0.28% 0.27%
-------------------------------- ---- ---- ---- ----
FIRST COMMUNITY CORPORATION
INCOME STATEMENT DATA
(Dollars in thousands, except per share data)
Three months ended Three months ended Three months ended Three months ended Year ended
December 31, September 30, June 30, March 31, December 31,
2014 2013 2014 2013 2014 2013 2014 2013 2014 2013
---- ---- ---- ---- ---- ---- ---- ---- ---- ----
Interest Income $7,078 $5,656 $6,968 $5,474 $6,849 $5,370 $6,403 $5,283 $27,298 $21,783
Interest Expense 887 879 872 904 902 947 907 1,004 3,568 3,734
--- --- --- --- --- --- --- ----- ----- -----
Net Interest Income 6,191 4,777 6,096 4,570 5,947 4,423 5,496 4,279 23,730 18,049
Provision for Loan Losses 178 149 152 129 400 100 150 150 880 528
--- --- --- --- --- --- --- --- --- ---
Net Interest Income After Provision 6,013 4,628 5,944 4,441 5,547 4,323 5,346 4,129 22,850 17,521
----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Non-interest Income:
Deposit service charges 372 392 400 387 379 367 366 361 1,517 1,507
Mortgage banking income 849 799 1,016 770 702 1,183 619 1,015 3,186 3,767
Investment advisory fees and non-deposit commissions 546 277 267 279 198 218 257 198 1,268 972
Gain (loss) on sale of securities 80 (79) 16 4 78 133 8 15 182 73
Gain (loss) on sale other assets (9) (8) 10 (23) (24) 32 12 (2) (11) (1)
Fair value gain (loss) adjustment - - - - - (2) - - (2)
Loss on early extinguishment of debt (284) - - - (67) (141) - - (351) (142)
Other 585 491 591 524 633 505 613 496 2,422 2,017
--- --- --- --- --- --- --- --- ----- -----
Total non-interest income 2,139 1,872 2,300 1,941 1,899 2,295 1,875 2,083 8,213 8,191
----- ----- ----- ----- ----- ----- ----- ----- ----- -----
Non-interest Expense:
Salaries and employee benefits 3,545 3,079 3,502 2,948 3,272 2,994 3,424 2,992 13,743 12,013
Occupancy 515 361 489 343 465 334 413 346 1,882 1,384
Equipment 377 299 414 310 375 314 339 283 1,505 1,206
Marketing and public relations 147 230 218 106 212 112 161 93 738 541
FDIC assessment 128 108 138 108 131 102 124 99 521 417
Other real estate expense 193 113 105 189 117 115 138 112 553 508
Amortization of intangibles 111 32 64 32 63 45 42 51 280 160
Merger expenses 29 506 39 33 15 - 420 - 503 539
Other 1,044 975 1,091 888 1,135 939 965 831 4,235 3,654
----- --- ----- --- ----- --- --- --- ----- -----
Total non-interest expense 6,089 5,703 6,060 4,957 5,785 4,955 6,026 4,807 23,960 20,422
----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Income before taxes 2,063 797 2,184 1,425 1,661 1,663 1,195 1,405 7,103 5,290
Income tax expense (benefit) 557 (53) 632 379 460 460 333 367 1,982 1,153
--- --- --- --- --- --- --- --- ----- -----
Net Income $1,506 $850 $1,552 $1,046 $1,201 $1,203 $862 $1,038 $5,121 $4,137
------ ---- ------ ------ ------ ------ ---- ------ ------ ------
Per share data:
Net income, basic $0.23 $0.16 $0.23 $0.20 $0.18 $0.23 $0.14 $0.20 $0.78 $0.78
Net income, diluted $0.22 $0.16 $0.23 $0.20 $0.18 $0.23 $0.14 $0.20 $0.78 $0.78
Average number of shares outstanding - basic 6,662,514 5,298,841 6,658,679 5,294,736 6,654,359 5,292,828 6,168,949 5,255,525 6,537,813 5,285,377
Average number of shares outstanding - diluted 6,733,513 5,354,373 6,726,849 5,308,546 6,719,110 5,311,194 6,228,512 5,292,000 6,607,079 5,334,319
Shares outstanding period end 6,664,391 5,302,674 6,660,466 5,296,288 6,656,139 5,293,116 6,652,189 5,290,452 6,664,391 5,302,674
Return on average assets 0.73% 0.53% 0.79% 0.66% 0.61% 0.77% 0.48% 0.69% 0.73% 0.66%
Return on average common equity 8.13% 6.32% 8.61% 7.93% 6.88% 8.75% 5.49% 7.72% 8.13% 7.68%
Return on average common tangible equity 8.88% 6.39% 9.32% 8.02% 7.54% 8.88% 5.89% 7.82% 8.88% 7.78%
Net Interest Margin (non taxable equivalent) 3.27% 3.20% 3.40% 3.10% 3.32% 3.03% 3.32% 3.09% 3.32% 3.10%
Net Interest Margin (taxable equivalent) 3.36% 3.29% 3.48% 3.18% 3.38% 3.11% 3.40% 3.15% 3.40% 3.18%
--------------------------------------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
FIRST COMMUNITY CORPORATION
Yields on Average Earning Assets and Rates
on Average Interest-Bearing Liabilities
Three Months ended December 31, Three Months ended December 31,
2014 2013
-------------------------------- --------------------------------
Average Interest Yield/ Average Interest Yield/
Balance Earned/Paid Rate Balance Earned/Paid Rate
------- ----------- ---- ------- ----------- ----
Assets
Earning assets
Loans $451,334 $5,638 4.96% $349,830 $4,379 4.97%
Securities: 276,625 1,408 2.02% 228,988 1,260 2.18%
Other funds 23,976 32 0.53% 12,544 17 0.54%
Total earning assets 751,935 7,078 3.73% 591,362 5,656 3.79%
------- ----- ---- ------- ----- ----
Cash and due from banks 10,533 8,263
Premises and equipment 29,619 18,380
Intangible assets 6,255 587
Other assets 26,779 22,870
Allowance for loan losses (4,260) (4,323)
Total assets $820,861 $637,139
======== ========
Liabilities
Interest-bearing liabilities
Interest-bearing transaction accounts 135,492 40 0.12% 102,087 26 0.10%
Money market accounts 151,382 97 0.25% 80,094 44 0.22%
Savings deposits 53,893 16 0.12% 51,638 15 0.12%
Time deposits 197,385 285 0.57% 162,489 313 0.76%
Other borrowings 64,540 449 2.76% 69,686 481 2.74%
Total interest-bearing liabilities 602,692 887 0.58% 465,994 879 0.75%
------- --- ---- ------- --- ----
Demand deposits 138,263 111,984
Other liabilities 6,383 5,822
Shareholders' equity 73,523 53,339
Total liabilities and shareholders' equity $820,861 $637,139
======== ========
Cost of funds including demand deposits 0.47% 0.60%
Net interest spread 3.15% 3.05%
Net interest income/margin $6,191 3.27% $4,777 3.20%
====== ======
Tax equivalent $6,360 3.36% $4,911 3.29%
====== ======
FIRST COMMUNITY CORPORATION
Yields on Average Earning Assets and Rates
on Average Interest-Bearing Liabilities
Year ended December 31, 2014 Year ended December 31, 2013
---------------------------- ----------------------------
Average Interest Yield/ Average Interest Yield/
Balance Earned/Paid Rate Balance Earned/Paid Rate
------- ----------- ---- ------- ----------- ----
Assets
Earning assets
Loans $439,174 $21,915 4.99% $344,110 $17,581 5.11%
Securities: 256,392 5,277 2.06% 223,540 4,136 1.85%
Other funds 18,766 106 0.56% 13,649 66 0.48%
Total earning assets 714,332 27,298 3.82% 581,299 21,783 3.75%
------- ------ ---- ------- ------ ----
Cash and due from banks 10,344 8,546
Premises and equipment 28,098 17,509
Intangible assets 5,554 641
Other assets 26,623 22,290
Allowance for loan losses (4,154) (4,483)
Total assets $780,797 $625,802
======== ========
Liabilities
Interest-bearing liabilities
Interest-bearing transaction accounts 131,767 167 0.13% 100,808 111 0.11%
Money market accounts 141,020 336 0.24% 74,514 171 0.23%
Savings deposits 51,768 60 0.12% 47,296 53 0.11%
Time deposits 179,384 1,147 0.64% 171,436 1,458 0.85%
Other borrowings 70,083 1,858 2.65% 69,022 1,941 2.81%
Total interest-bearing liabilities 574,022 3,568 0.62% 463,076 3,734 0.81%
------- ----- ---- ------- ----- ----
Demand deposits 131,299 103,467
Other liabilities 5,716 5,422
Shareholders' equity 69,760 53,837
Total liabilities and shareholders' equity $780,797 $625,802
======== ========
Cost of funds including demand deposits 0.51% 0.66%
Net interest spread 3.20% 2.94%
Net interest income/margin $23,730 3.32% $18,049 3.10%
======= =======
Tax Equivalent $24,287 3.40% $18,512 3.18%
======= =======
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SOURCE First Community Corporation
