First Community's Q3 net income rises 55% after Signature Bank of Georgia acquisition
FCCO•First Community's third-quarter net income rose 55% year over year to $8.04 million, reflecting its acquisition of Signature Bank of Georgia. Diluted EPS increased 27% to $0.85.
1. Quarterly results
First Community reported third-quarter net income of $8.04 million, up 55% year over year, and diluted EPS of $0.85, up 27%. Net interest income was $20.24 million and net interest margin was 3.59%. The company said loan growth included balances from the Signature Bank of Georgia acquisition and organic growth; improved loan yields and growth supported margin expansion, while deposit and funding costs remained unchanged.
