First Community
Market Cap
US$154.1m
Last Updated
2020/01/23 23:42 UTC
Data Sources
Company Financials +
Executive Summary
First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -0.3% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet with proven track record and pays a dividend.
Similar Companies
Share Price & News
How has First Community's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FCCO has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.0%
FCCO
-1.0%
US Banks
-0.09%
US Market
1 Year Return
1.1%
FCCO
14.7%
US Banks
23.9%
US Market
Return vs Industry: FCCO underperformed the US Banks industry which returned 21.7% over the past year.
Return vs Market: FCCO underperformed the US Market which returned 24.7% over the past year.
Shareholder returns
| FCCO | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.0% | -1.0% | -0.09% |
| 30 Day | n/a | -3.0% | 3.1% |
| 90 Day | 8.1% | 4.5% | 10.4% |
| 1 Year | 3.5%1.1% | 18.0%14.7% | 26.6%23.9% |
| 3 Year | 5.3%-0.2% | 28.6%19.4% | 50.9%41.2% |
| 5 Year | 107.3%88.3% | 86.7%65.8% | 78.1%58.5% |
Price Volatility Vs. Market
How volatile is First Community's share price compared to the market and industry in the last 5 years?
Simply Wall St News
11 hours ago | Simply Wall St
Does First Community Corporation's (NASDAQ:FCCO) P/E Ratio Signal A Buying Opportunity?1 week ago | Simply Wall St
What You Must Know About First Community Corporation's (NASDAQ:FCCO) Beta Value3 weeks ago | Simply Wall St
Is It Time To Consider Buying First Community Corporation (NASDAQ:FCCO)?Valuation
Is First Community undervalued compared to its fair value and its price relative to the market?
15.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FCCO ($20.5) is trading below our estimate of fair value ($25.01)
Significantly Below Fair Value: FCCO is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: FCCO is poor value based on its PE Ratio (14.1x) compared to the Banks industry average (12.8x).
PE vs Market: FCCO is good value based on its PE Ratio (14.1x) compared to the US market (18.9x).
Price to Earnings Growth Ratio
PEG Ratio: FCCO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: FCCO is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is First Community forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-0.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FCCO's earnings are forecast to decline over the next 3 years (-0.3% per year).
Earnings vs Market: FCCO's earnings are forecast to decline over the next 3 years (-0.3% per year).
High Growth Earnings: FCCO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: FCCO's revenue (4% per year) is forecast to grow slower than the US market (7.5% per year).
High Growth Revenue: FCCO's revenue (4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FCCO's Return on Equity is forecast to be low in 3 years time (8.5%).
Next Steps
Past Performance
How has First Community performed over the past 5 years?
16.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FCCO has high quality earnings.
Growing Profit Margin: FCCO's current net profit margins (23%) are higher than last year (20.1%).
Past Earnings Growth Analysis
Earnings Trend: FCCO's earnings have grown by 16.1% per year over the past 5 years.
Accelerating Growth: FCCO's earnings growth over the past year (21.2%) exceeds its 5-year average (16.1% per year).
Earnings vs Industry: FCCO earnings growth over the past year (21.2%) underperformed the Banks industry 27.1%.
Return on Equity
High ROE: FCCO's Return on Equity (9.2%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is First Community's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: FCCO has a low level of unsold assets or inventory.
Debt Coverage by Assets: FCCO's debt is not covered by short term assets (assets are 0.9x debt).
Financial Institutions Analysis
Asset Level: FCCO's level of assets compared to its equity is low.
Allowance for Bad Loans: FCCO has a sufficient allowance for bad loans.
Low Risk Liabilities: FCCO's liabilities are made up of primarily low risk sources of funding.
Loan Level: FCCO has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FCCO's loans are broadly funded by customer deposits.
Level of Bad Loans: FCCO has an appropriate level of bad loans (0.31%)
Next Steps
Dividend
What is First Community's current dividend yield, its reliability and sustainability?
2.12%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FCCO's dividend (2.15%) is higher than the bottom 25% of dividend payers in the US market (1.4%).
High Dividend: FCCO's dividend (2.15%) is low compared to the top 25% of dividend payers in the US market (3.66%).
Stability and Growth of Payments
Stable Dividend: FCCO's dividend payments have been volatile in the past 10 years.
Growing Dividend: FCCO's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (30.3%), FCCO's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FCCO's dividends in 3 years are forecast to be well covered by earnings (35.1% payout ratio).
Next Steps
Management
What is the CEO of First Community's salary, the management and board of directors tenure and is there insider trading?
5.0yrs
Average management tenure
CEO
Mike Crapps (60yo)
26yrs
Tenure
US$706,641
Compensation
Mr. Michael C. Crapps, also known as Mike, has been the Chief Executive Officer, President, Director, Chief Executive Officer of First Community Bank, President of First Community Bank and Director of Firs ...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD706.64K) is below average for companies of similar size in the US market ($USD1.08M).
Compensation vs Earnings: Mike's compensation has increased by more than 20% in the past year.
Management Age and Tenure
5.0yrs
Average Tenure
60yo
Average Age
Experienced Management: FCCO's management team is considered experienced (5 years average tenure).
Board Age and Tenure
15.0yrs
Average Tenure
62yo
Average Age
Experienced Board: FCCO's board of directors are seasoned and experienced ( 15 years average tenure).
Insider Trading
Insider Buying: FCCO insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 200 |
| Max Price | US$20.40 |
| Entity | Individual |
| Shares | 3,888 |
| Max Price | US$19.05 |
| Entity | Individual |
| Shares | 825 |
| Max Price | US$17.93 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Mike Crapps (60yo)
CEO, President & Director
- Tenure: 26yrs
- Compensation: US$706.64k
Steve Sligh (70yo)
Consultant
- Tenure: 14.3yrs
- Compensation: US$147.88k
John Nissen (57yo)
Executive VP and Chief Commercial & Retail Banking Officer
- Compensation: US$373.61k
Tanya Butts (60yo)
Executive VP
- Tenure: 3yrs
Robin Brown (51yo)
Executive VP and Chief Human Resources & Marketing Officer
- Tenure: 6.9yrs
- Compensation: US$259.10k
Shawn Jordan
Chief Financial Officer
- Tenure: 0.08yrs
Jack Walker
Executive VP & Chief Credit Officer
- Tenure: 1yrs
Board Members
Mike Crapps (60yo)
CEO, President & Director
- Tenure: 26yrs
- Compensation: US$706.64k
Mitch Willoughby (71yo)
Chairman of the Board
- Tenure: 10.7yrs
- Compensation: US$35.05k
Thomas Brown (61yo)
Independent Director
- Tenure: 26yrs
- Compensation: US$26.78k
Chimin Chao (63yo)
Independent Director
- Tenure: 26yrs
- Compensation: US$31.30k
Tommy Johnson (72yo)
Vice Chairman of the Board
- Tenure: 15.3yrs
- Compensation: US$57.90k
Ed Tarver (59yo)
Director
- Tenure: 2.7yrs
- Compensation: US$23.66k
W. Kitchens (57yo)
Independent Director
- Tenure: 26yrs
- Compensation: US$31.50k
Rick Todd (55yo)
Independent Director
- Tenure: 13.6yrs
- Compensation: US$31.40k
Alex Snipe (68yo)
Independent Director
- Tenure: 14.7yrs
- Compensation: US$29.90k
E. Reynolds (64yo)
Director
- Tenure: 5.9yrs
- Compensation: US$29.90k
Company Information
First Community Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: First Community Corporation
- Ticker: FCCO
- Exchange: NasdaqCM
- Founded: 1995
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$154.083m
- Shares outstanding: 7.44m
- Website: https://www.firstcommunitysc.com
Number of Employees
Location
- First Community Corporation
- 5455 Sunset Boulevard
- Lexington
- South Carolina
- 29072
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FCCO | NasdaqCM (Nasdaq Capital Market) | Yes | Common Stock | US | USD | Jul 1998 |
Biography
First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate. Its deposit products include demand deposit accounts, checking accounts, NOW accounts, and savings accounts, as well as other time deposits, such as daily money market accounts and longer-term certificates of deposit. The company’s loan portfolio comprises commercial loans that consist of secured and unsecured loans for working capital, business expansion, and the purchase of equipment and machinery; consumer loans, including secured and unsecured loans for financing automobiles, home improvements, education, and personal investments; real estate construction and acquisition loans; and fixed and variable rate mortgage loans. It also provides other banking services, which include Internet banking, cash management services, safe deposit boxes, traveler’s checks, direct deposit of payroll and social security checks, and automatic drafts for various accounts. In addition, the company offers non-deposit investment products and other investment brokerage services; VISA and MasterCard credit card services; financial and investment advisory services; and insurance services. It operates 20 full-service offices located in the Lexington County, Richland County, Newberry County, Kershaw County, Greenville County, Anderson County, Pickens County, and Aiken County, South Carolina; and Richmond County, Georgia. First Community Corporation was incorporated in 1995 and is headquartered in Lexington, South Carolina.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/23 23:42 |
| End of Day Share Price | 2020/01/23 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.