Lender First Community's Q2 net income up 58.8%
Overview
First Community Q2 net income rises 58.8% yr/yr to $5.186 mln
Diluted EPS for Q2 increases 59.5% yr/yr to $0.67 per share
Co announced acquisition of Signature Bank of Georgia in the quarter
Outlook
Company expects positive loan growth momentum into the third quarter
First Community anticipates completing Signature Bank acquisition by early 2026
Company sees continued proactive management of deposit pricing
First Community expects operational conversion post-acquisition by mid-2026
Result Drivers
LOAN PRODUCTION - Strong loan production in Q2, though offset by higher payoffs, per CEO Ted Nissen
NET INTEREST MARGIN - Margin expanded by eight basis points, benefiting from interest rate swaps
ASSET MANAGEMENT - Record assets under management driven by net new asset growth and market appreciation
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.67 |
|
Q2 Net Income |
| $5.19 mln |
|
Q2 Net Interest Income |
| $15.30 mln |
|
Q2 Net Interest Margin |
| 3.2% |
|
Press Release: ID:nPn14SjQva
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