Overview

* First Community Q3 net income up 34.5% yr/yr, flat on linked qtr

* Diluted EPS for Q3 rises 34% yr/yr, remains flat from Q2

* Company announces $7.5 mln share repurchase plan

Outlook

* Company did not provide specific guidance for future quarters or full year

Result Drivers

* MARGIN EXPANSION - Net interest margin increased for the sixth consecutive quarter, contributing to higher net interest income

* LOAN GROWTH - Total loans increased by $19.3 mln during Q3, reflecting a 6.1% annualized growth rate

* DEPOSIT GROWTH - Total deposits increased by $17.1 mln in Q3, with a focus on relationship-based accounts

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.67

Q3 Net $5.19

Income mln

Q3 Net 3.27%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for First Community Corp (South Carolina) ( FCCO ) is $30.00, about 9.2% above its October 21 closing price of $27.25

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)