First Community Corporation · NASDAQ:FCCO
First Community — Q3 2025 Earnings Presentation
62 slides from First Community's earnings presentation, Nov 5, 2025
Slide 1: First Community Corporation November 2025
§) First ill Corporation H Community @ November 2025
Slide 2: Outline
OUTLINE 2 I. Overview 3 II. 3Q25 Highlights / Topics of Interest 8 » Highlights 9 » Earning Assets 11 » Funding 16 » Net Interest Margin (NIM) 19 » Risk Management 24 » Capital 28 » Non - Interest Income Highlights 32 » Revenue 37 » Non - Interest Expense 40 » Net Income 43 III. Signature Bank of Ge
Slide 3: Overview
OVERVIEW Impacting Lives for Success and Significance
Slide 4: Our Purpose and Cause
OUR PURPOSE AND CAUSE Everything we do has an impact. Providing the best products and services possible is what we do; however, that’s not why we do it. We know that everything we do has an impact, and we believe it’s our responsibility to make sure it’s a positive one. Employees Impacting lives for
Slide 5: Our Identity
OUR IDENTITY Purpose & Cause Impacting lives for success and significance Mission To provide best in class financial solutions to local businesses, professionals, and organizations in our markets as well as optimize the long-term return to our shareholders, while providing a safe, sound investment.
Slide 6: Overview Highlights
OVERVIEW Highlights 6 » Began in 1995 » Focused on Organic Growth, Augmented with Opportunistic Acquisitions ▪ 2004 – Newberry Federal ▪ 2006 – Bank of Camden ▪ 2008 – EAH Financial Planning Practice ▪ 2011 – Palmetto South Mortgage Corp. ▪ 2014 – Savannah River Financial Corp. ▪ 2017 – Cornerstone
Slide 7: Three Lines of Business
Three Lines of Business OVERVIEW 7
Slide 8: 3Q25 Highlights / Topics of Interest
3Q25 HIGHLIGHTS / TOPICS OF INTEREST Impacting Lives for Success and Significance
Slide 9: 3Q25 Highlights
3Q25 HIGHLIGHTS Impacting Lives for Success and Significance
Slide 10: 3Q25 Highlights
3Q25 HIGHLIGHTS » Record earnings » NIM and NII expansion » Record investment advisory AUM exceeding $1.1 billion » Non - recurring income (expense) items ($ in thousands) » 2Q25 3Q25 Gain on sale of OREO $127 SC State Tax Credits $120 OREO write - down ($100) Gain on bank fintech fund investment $1
Slide 11: Earning Assets
EARNING ASSETS Impacting Lives for Success and Significance
Slide 12: Earning Assets Composition and Loan Portfolio
Yield 4.43% 5.32% 5.65% 5.84% Loan Portfolio 2025 YTD Annual Growth = 6.4% CRE as a % of RBC = 304.3% (4 th Quarter for 2022 - 2024 and 3 rd Quarter for 2025) 12 EARNING ASSETS Composition 9/30/25 Millions
Slide 13: Loan Portfolio Growth
» 3Q25 $19.3 million 6.1% annualized growth rate » YTD 2025 $58.8 million 6.4% annualized growth rate Notes: » Percent of Growth : YTD25 ▪ CRE 56.9% ▪ C&I 6.4% ▪ Residential Mortgage 22.1% ▪ Other 14.6% » Interest Rate Sensitivity (9/30/25) : ▪ Principal cash flows, excluding prepayment estimates •
Slide 14: Investment Portfolio
Yield 2.78% 3.59% 3.40% 3.41% AOCI/(AOCL) 1 ($32.4) ($28.2) ($25.5) ($20.2) Investment Portfolio (4 th Quarter for 2022 - 2024, and 3 rd Quarter for 2025) Average Life: 5.3 years Effective Duration: 3.2 $564.8 $506.2 EARNING ASSETS Millions $491.7 14 1 AOCI is accumulated other comprehensive income
Slide 15: Investment Portfolio Notes
Notes: Mix (3Q25) : » Floating 30.0% » Fixed 70.0% Principal Cash Flows : » 09/01/25 – 12/31/25 $14.2 million » FY2026 $62.8 million » 3Q25 - The company purchased four fixed rate agency mortgage - backed security (MBS) bonds totaling $20.0 million, with a purchase yield of 4.78% and entered into a
Slide 16: Funding
FUNDING Impacting Lives for Success and Significance
Slide 17: High Quality Deposit Franchise
Total Deposit Cost 0.25% 1.69% 1.91% 1.81% Non - Interest Bearing 33% 29% 28% 27% Millions $1,454.1 $1,573.9 $1,779.0 (4 th Quarter for 2022 - 2024 & 3 rd Quarter for 2025) 17 High Quality Deposit Franchise $1,870.8 FUNDING 12/31/2022 12/31/2023 12/31/2024 09/30/2025
Slide 18: Sources and Uses of Funds
18 YTD 2025 (9.30.25) » Sources of funds (Millions) Customer Deposits $ 105.7 Capital 17.1 Total $ 122.8 » Uses of funds Loans (includes loans held - for - sale) $ 58.1 Short - Term Investments & CDs 39.8 Brokered CDs 10.4 Investment Portfolio 9.6 Customer Cash Management 3.5 Other 1.4 Total $ 122.8
Slide 19: Net Interest Margin
NET INTEREST MARGIN Impacting Lives for Success and Significance
Slide 20: Net Interest Margin: Loan Portfolio Yield
5.90% 5.80% 5.70% 5.60% 5.50% 5.40% 5.30% 5.20% NET INTEREST MARGIN (NIM) Loan Portfolio Yield 1024 2024 3024 «= 4024 1025 2025 3025 8.00% 7.50% 7.00% 6.50% 6.00% 5.50% 5.00% New/Renewed Loans Weighted Average Rate 7.81% 7.56% — 7.57% 14% 6.81% 6.7795 1024 2024 3024 «4024 125 2025 3Q25 20
Slide 21: Net Interest Margin: Securities and Earning Assets Yield
3.70% 3.65% 3.60% 3.55% 3.50% 3.45% 3.40% 3.35% 3.30% 3.25% 3.66% 1024 NET INTEREST MARGIN (NIM) Securities Portfolio Yield 3.66% 2024 © 3024 4024 1025 2025 3025 5.15% 5.10% 5.05% 5.00% 4.95% 4.90% 4.85% 4.80% Average Earnings Assets (AEA) Yield 1024 5.10% 2024 = 3024 4Q24 1025 2025 5.08% 3025 ra)
Slide 22: Net Interest Margin: Cost of Deposits and Funds
2.05% 2.00% 1.95% 1.90% 1.85% 1.80% 1.75% 1.70% NET INTEREST MARGIN (NIM) Cost of Deposits 2.03% 1024 2024 «3024 4Q24 3.30% 3.20% 3.10% 3.00% 2.90% 2.80% 2.10% 1025 2025 3025 2.30% 2.20% 2.10% 2.00% 1.90% 1.80% 1.10% Cost of Funds 2.21% 1024 Net Interest Margin FTE 2024 3024 «= 4Q24 3.27% 1024 2024
Slide 23: Net Interest Margin Notes
23 Notes: » NIM Inflection began 2Q24 » Six consecutive quarters of NIM expansion » Effective May 5, 2023, entered into a pay - fixed /receive floating interest rate swap designated as a fair value hedge for fixed rate loans • Initial notional amount: $150.0 million • Current notional amount: $136.6
Slide 24: Risk Management
RISK MANAGEMENT Impacting Lives for Success and Significance
Slide 25: Credit Quality
25 Credit Quality RISK MANAGEMENT Net Charge - Offs (Recoveries) NPA / Assets
Slide 26: Credit Quality: Provision and Allowance
26 Provision for (Release of) Credit Losses ($ in thousands) Credit Quality RISK MANAGEMENT Allowance for Credit Losses as a Percentage of Total Loans
Slide 27: Risk Management
RISK MANAGEMENT Formal ERM Program including Measures, like Internal Risk Scorecard, External PT Score and Board Risk Appetite Audit Program Cybersecurity Program Enterprise Risk Management Framework is key to balance of Risk and Reward. Compliance Program Fraud Prevention Program BSA Program
Slide 28: Capital
CAPITAL Impacting Lives for Success and Significance
Slide 29: Capital Ratios
29 Leverage Ratio (Bank) Total Capital Ratio (Bank) CAPITAL *On 5/9/25, announced a plan to utilize up to $7.5 million of capital to repurchase shares of FCCO’s common stock (5.0% of total shareholders’ equity at the time of the announcement).
Slide 30: Tangible Book Value and Tangible Common Equity
30 Tangible Book Value CAPITAL Tangible Common Equity
Slide 31: Dividend
Dividend 31 CAPITAL 1 The Board of Directors approved a cash dividend of $0.16 per share, payable November 18, 2025, to shareholders of record as o f N ovember 4, 2025. 1
Slide 32: Non-Interest Income Highlights
NON - INTEREST INCOME HIGHLIGHTS Impacting Lives for Success and Significance
Slide 33: Financial Planning / Investment Advisory AUM
Financial Planning / Investment Advisory Services AUM (millions) 33 NON - INTEREST INCOME HIGHLIGHTS
Slide 34: Investment Advisory Revenue and Pre-Tax Income
Financial Planning / Investment Advisory Services Revenue and Pre - Tax Income (thousands) 34 Pre - tax Profit Margin 33.9% 31.0% 34.8% 37.3% NON - INTEREST INCOME HIGHLIGHTS Thousands
Slide 35: Residential Mortgage Banking Production
35 Residential Mortgage Banking Production (millions) NON - INTEREST INCOME HIGHLIGHTS $107.2 $135.7 $165.6 $158.3
Slide 36: Residential Mortgage Banking Revenue and Pre-Tax Income
Pre - tax Profit Margin 3.6% 34.3% 61.3% 63.1% Residential Mortgage Banking Revenue and Pre - Tax Income ($ in thousands) 36 $9,243.3 1 $3,763.8 1 $5,201.3 1 Note: Pre - tax net income does not include fund transfer pricing or ACL allocations. 1 Includes mortgage late charges and other mortgage reve
Slide 37: Revenue
REVENUE Impacting Lives for Success and Significance
Slide 38: Total Revenue
38 (Millions) $59.5 $60.6 $66.3 Total Revenue 1 Strength in Diversity of Revenue REVENUE 1 Adjusted for Securities Gains/Losses and early extinguishment of debt. 1 $58.2
Slide 39: Total Revenue (Thousands)
39 (Thousands) $18,372 $17,694 $20,287 Total Revenue 1 Strength in Diversity of Revenue $19,530 REVENUE $16,982 1 1 Adjusted for Securities Gains/Losses and early extinguishment of debt.
Slide 40: Non-Interest Expense
NON - INTEREST EXPENSE Impacting Lives for Success and Significance
Slide 41: Non-Interest Expense
NON - INTEREST EXPENSE 41 Non - interest Expense (Millions) $38.7 1 $41.3 $43.1 1 Excludes $0.8 in merger expenses. $47.5
Slide 42: Non-Interest Expense (Quarterly)
NON - INTEREST EXPENSE 42 Non - interest Expense (Millions) $12.0 $13.1 2 $11.8 $12.8 1 Excludes $0.2 in merger expenses. 2 Excludes $0.6 in merger expenses $12.9 1
Slide 43: Net Income
NET INCOME Impacting Lives for Success and Significance
Slide 44: Core Net Income, Core EPS and Pre-Tax Pre-Provision Earnings
1 Core net income and EPS exclude gains (losses) on sale of securities and bank premises, loss on disposition of assets related to the downtown Augusta branch closure, loss on early extinguishment of debt, gains on insurance proceeds, non - recurring BOLI income, and merger expenses. S ee non - GAAP
Slide 45: Forward-Looking Statements
FORWARD - LOOKING STATEMENTS 45 SAFE HARBOR STATEMENT – In this presentation, unless the context suggests otherwise, references to “First Community,” the “Company” or “FCCO” refer to First Community Corporation and references to “we,” “us,” and “our” mean the combined business of the Company, First
Slide 46: Additional Information
ADDITIONAL INFORMATION 46 ADDITIONAL INFORMATION ABOUT THE ACQUISITION AND WHERE TO FIND IT FCCO filed with the SEC a registration statement on Form S - 4 containing a joint proxy statement of FCCO and SGBG and a prospectus of FCCO, and FCCO will file other documents with respect to the proposed mer
Slide 47: Non-GAAP Financial Measures
NON - GAAP FINANCIAL MEASURES The Bank Behind Your Business 47 NON - GAAP FINANCIAL MEASURES – This presentation contains certain non - GAAP financial measures that are not in accordance with US generally accepted accounting principles (GAAP) . We use certain non - GAAP financial measures to provide
Slide 48: Non-GAAP Reconciliation
NON - GAAP RECONCILIATION 48 The tables below provide a reconciliation of non - GAAP measures to GAAP for each of the periods indicated: 1 Excludes gains (losses) on sale of securities and bank premises, loss on disposition of assets related to the downtown Augusta branch closure, loss on early exti
Slide 49: Signature Bank of Georgia Acquisition
SIGNATURE BANK OF GEORGIA ACQUISITION » Accomplishes two Strategic Initiatives ▪ Additional growth market ▪ Addition of GGL/SBA lines of business
Slide 50: Acquisition Highlights
Establishing a presence in the dynamic and high - growth Atlanta - Sandy Springs - Roswell, Georgia MSA Attractive transaction terms drive compelling pro forma financial results Proven expertise in SBA lending generating significant fee income Manageable TBV dilution (2.2 years earnback ) coupled wi
Slide 51: Overview of Signature Bank of Georgia
OVERVIEW OF SIGNATURE BANK OF GEORGIA 51 (1) Financial data as of the most recent quarter ended March 31, 2025 Source: S&P Capital IQ Pro Geographic Footprint Franchise Overview Financial Highlights (1) ■ Signature Bank of Georgia (OTCPK: SGBG) was established in 2005 and is headquartered in Sandy S
Slide 52: Atlanta Market Overview
4.39% 4.07% 4.79% Atlanta MSA Georgia Legacy FCCO 2025 - 2030 Projected Population Growth ATLANTA MARKET OVERVIEW 52 Source: S&P Capital IQ Pro; U.S. Census Bureau; U.S. Bureau of Economic Analysis; Georgia Department of Transportation Market Highlights Expanding into the Atlanta MSA ■ High - Growth
Slide 53: Pro Forma Franchise Overview
Expansion into Atlanta MSA x Scalable SBA lending vertical x Attractive financial impact x Stronger, more diversified franchise x PRO FORMA FRANCHISE OVERVIEW 53 (1) For illustrative purposes, assumes transaction closes December 31, 2025, cost savings are 100% phased - in, and excludes one - t ime t
Slide 54: Pro Forma Franchise Overview, Cont'd
PRO FORMA FRANCHISE OVERVIEW, CONT’D 54 (1) As of December 31, 2024 (2) Net of servicing asset amortization Source: S&P Capital IQ Pro; Company Documents Ability to scale existing lines of business, with strong foundations and momentum, into new markets Government Guaranteed Lending Financial Planni
Slide 55: Transaction Summary
TRANSACTION SUMMARY 55 (1) Based on FCCO’s closing price of $24.84 on July 11, 2025, and assuming 2,585,764 SGBG common shares outstanding and 118,5 00 options with a weighted average strike price of $12.20. Assumes 10,033 SGBG options that expire in Q4 ‘2025 are exercised prior to closing. (2) Refl
Slide 56: Key Pro Forma Financial Assumptions
KEY PRO FORMA FINANCIAL ASSUMPTIONS 56 ■ Pre - tax merger costs of $7.6 million ■ Cost savings equal to 30.9% of SGBG’s non - interest expense base anticipated ■ No branch or office closings are planned with this acquisition One - Time Merger Expenses and Cost Savings ■ Total gross credit mark of $2
Slide 57: Strategically Compelling Acquisition
STRATEGICALLY COMPELLING ACQUISITION 57 (1) Estimated pro forma capital ratios at close; Based on FCCO’s closing price of $24.84 on July 11, 2025 (2) Pro forma impact is presented for illustrative purposes only and is subject to change based on final purchase accounting ent ries ■ Gaining foothold i
Slide 58: Comprehensive Due Diligence
COMPREHENSIVE DUE DILIGENCE 58 Approach Summary ■ Joint management - led diligence effort supported by legal, accounting, and consulting advisors ■ Emphasis on cultural alignment and operational compatibility between the two institutions ■ Granular credit and operational analysis to support confiden
Slide 59: Appendix
Impacting Lives for Success and Significance APPENDIX
Slide 60: Attractive Pro Forma Results
2026E ROAA vs. Public Southeast Banks $2.0B to $10.0B in Total Assets Enhanced Pro Forma Earnings 2026E ROATCE vs. Public Southeast Banks $2.0B to $10.0B in Total Assets Improved Capital Generation 2026E Efficiency Ratio vs. Public Southeast Banks $2.0B to $10.0B in Total Assets Greater Operational
Slide 61: Pro Forma Loan & Deposit Composition
1 - 4 Family 24.0% C&D 11.6% Multifamily 2.3% NOO - CRE 30.8% OO - CRE 22.4% C&I 5.1% Consumer 1.6% Other 2.1% PRO FORMA LOAN & DEPOSIT COMPOSITION 61 Note: Financial data as of March 31, 2025; Loan and deposit compositions reflect Call Report data (1) Pro Forma compositions exclude purchase account
Slide 62: Our Purpose, Cause, and Identity
OUR PURPOSE, CAUSE, AND IDENTITY 62 Providing the best products and services possible is what we do; however, that’s not why we do it. We know that everything we do has an impact, and we believe it’s our responsibility to make sure it’s a positive one. Everything we do has an impact Shareholders Com