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First Community

Nasdaq:FCCO
Snowflake Description

Flawless balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCCO
Nasdaq
$147M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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 last earnings update was 5 days ago. More info.


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FCCO Share Price and Events
7 Day Returns
1%
NasdaqCM:FCCO
-0%
US Banks
-1.2%
US Market
1 Year Returns
-23.4%
NasdaqCM:FCCO
-8%
US Banks
3.3%
US Market
FCCO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Community (FCCO) 1% -2% 5.5% -23.4% 30.7% 83.5%
US Banks -0% 2.7% -0.8% -8% 45.6% 46.1%
US Market -1.2% 0.8% 0.9% 3.3% 35.9% 41.7%
1 Year Return vs Industry and Market
  • FCCO underperformed the Banks industry which returned -8% over the past year.
  • FCCO underperformed the Market in United States of America which returned 3.3% over the past year.
Price Volatility
FCCO
Industry
5yr Volatility vs Market

FCCO Value

 Is First Community undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Community to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Community.

NasdaqCM:FCCO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $16.75 * 6.6%
$1.11
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $16.75
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:FCCO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (33.33%))
0.835
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.835 * 5.96%)
7.71%

Discounted Cash Flow Calculation for NasdaqCM:FCCO using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Community is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:FCCO Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.6% – 7.71%) * $16.75)
$-0.18
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.18 / (7.71% - 2.73%)
$-3.70
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $16.75 + $-3.70
$13.05
NasdaqCM:FCCO Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.05
Current discount Discount to share price of $19.60
= -1 x ($19.60 - $13.05) / $13.05
-50.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Community is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Community's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Community's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:FCCO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.43
NasdaqCM:FCCO Share Price ** NasdaqCM (2019-07-22) in USD $19.6
United States of America Banks Industry PE Ratio Median Figure of 595 Publicly-Listed Banks Companies 12.72x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.86x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Community.

NasdaqCM:FCCO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:FCCO Share Price ÷ EPS (both in USD)

= 19.6 ÷ 1.43

13.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Community is overvalued based on earnings compared to the US Banks industry average.
  • First Community is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Community's expected growth come at a high price?
Raw Data
NasdaqCM:FCCO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
1.7%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.19x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NasdaqCM:FCCO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.69x ÷ 1.7%

7.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Community is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Community's assets?
Raw Data
NasdaqCM:FCCO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $15.64
NasdaqCM:FCCO Share Price * NasdaqCM (2019-07-22) in USD $19.6
United States of America Banks Industry PB Ratio Median Figure of 595 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.79x
NasdaqCM:FCCO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:FCCO Share Price ÷ Book Value per Share (both in USD)

= 19.6 ÷ 15.64

1.25x

* Primary Listing of First Community.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Community is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First Community's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Community has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FCCO Future Performance

 How is First Community expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Community expected to grow at an attractive rate?
  • First Community's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Community's earnings growth is positive but not above the United States of America market average.
  • First Community's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:FCCO Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:FCCO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 1.7%
NasdaqCM:FCCO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 5.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:FCCO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:FCCO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 51 11 2
2019-12-31 48 11 1
NasdaqCM:FCCO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 47 11
2019-03-31 47 17 11
2018-12-31 46 20 11
2018-09-30 45 18 9
2018-06-30 43 15 8
2018-03-31 41 11 7
2017-12-31 39 18 6
2017-09-30 37 10 7
2017-06-30 37 15 7
2017-03-31 36 11 7
2016-12-31 35 5 7
2016-09-30 35 12 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Community's earnings are expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
  • First Community's revenue is expected to grow by 5.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:FCCO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from First Community Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:FCCO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.45 1.59 1.30 3.00
2019-12-31 1.39 1.42 1.36 2.00
NasdaqCM:FCCO Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.43
2019-03-31 1.45
2018-12-31 1.48
2018-09-30 1.20
2018-06-30 1.11
2018-03-31 0.96
2017-12-31 0.85
2017-09-30 1.06
2017-06-30 1.03
2017-03-31 1.05
2016-12-31 1.01
2016-09-30 0.99

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Community will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Community's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Community has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FCCO Past Performance

  How has First Community performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Community's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Community's year on year earnings growth rate has been positive over the past 5 years.
  • First Community's 1-year earnings growth exceeds its 5-year average (34.4% vs 16.4%)
  • First Community's earnings growth has not exceeded the US Banks industry average in the past year (34.4% vs 37.8%).
Earnings and Revenue History
First Community's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Community Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:FCCO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 46.98 10.90 25.67
2019-03-31 46.51 11.02 25.05
2018-12-31 46.05 11.23 24.33
2018-09-30 44.97 9.05 23.73
2018-06-30 42.92 8.11 22.62
2018-03-31 40.93 6.77 22.17
2017-12-31 38.95 5.82 21.79
2017-09-30 37.22 7.11 21.20
2017-06-30 36.89 6.89 21.16
2017-03-31 35.78 6.97 20.53
2016-12-31 35.08 6.68 20.08
2016-09-30 34.72 6.49 19.68
2016-06-30 33.79 6.49 19.25
2016-03-31 33.44 6.19 19.16
2015-12-31 33.28 6.13 19.00
2015-09-30 33.33 6.03 18.82
2015-06-30 33.17 5.91 18.77
2015-03-31 32.33 5.66 18.21
2014-12-31 31.41 5.12 17.87
2014-09-30 29.48 4.47 17.25
2014-06-30 27.63 3.96 16.34
2014-03-31 26.85 3.96 15.77
2013-12-31 25.85 4.14 15.14
2013-09-30 25.89 4.31 14.88
2013-06-30 26.12 4.14 14.78
2013-03-31 25.60 3.70 14.49
2012-12-31 25.25 3.29 14.16
2012-09-30 25.10 3.17 13.69

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Community has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Community used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Community improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Community's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Community has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FCCO Health

 How is First Community's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Community's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Community Company Filings, last reported 3 weeks ago.

NasdaqCM:FCCO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 117.49 49.07
2019-03-31 116.43 49.20 38.21
2018-12-31 112.50 43.22 32.27
2018-09-30 108.19 52.43 36.94
2018-06-30 107.00 43.41 44.95
2018-03-31 105.48 37.17 38.91
2017-12-31 105.66 48.48 30.59
2017-09-30 86.60 49.69 27.09
2017-06-30 85.06 50.28 34.49
2017-03-31 83.13 49.90 30.06
2016-12-31 81.86 58.53 22.00
2016-09-30 84.21 58.22 38.70
2016-06-30 84.21 68.52 22.30
2016-03-31 81.61 60.09 25.83
2015-12-31 79.04 60.79 22.94
2015-09-30 78.49 62.92 33.01
2015-06-30 76.41 70.47 25.88
2015-03-31 76.55 59.70 44.21
2014-12-31 74.53 61.65 22.53
2014-09-30 72.56 65.43 56.13
2014-06-30 70.99 69.75 29.75
2014-03-31 68.77 69.28 37.13
2013-12-31 52.67 77.42 14.17
2013-09-30 52.87 66.87 20.95
2013-06-30 52.83 65.45 24.29
2013-03-31 54.77 69.02 31.84
2012-12-31 54.18 67.71 18.71
2012-09-30 54.28 72.06 20.38
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Community has an acceptable proportion of non-loan assets held.
  • First Community's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Community are broadly funded by customer deposits.
  • First Community's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Community has a sufficient allowance for bad loans.
  • First Community has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Community's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Community has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FCCO Dividends

 What is First Community's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.24%
Current annual income from First Community dividends. Estimated to be 2.35% next year.
If you bought $2,000 of First Community shares you are expected to receive $45 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Community's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • First Community's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Upcoming dividend payment

Purchase First Community before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:FCCO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:FCCO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.48 3.00
2019-12-31 0.44 3.00
NasdaqCM:FCCO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-07-17 0.440 2.242
2019-05-09 0.440 2.401
2019-04-17 0.440 2.382
2019-03-14 0.440 2.276
2019-01-16 0.440 2.185
2018-11-08 0.400 1.883
2018-10-17 0.400 1.840
2018-08-08 0.400 1.620
2018-07-18 0.400 1.589
2018-05-09 0.400 1.645
2018-04-18 0.400 1.733
2018-03-14 0.400 1.787
2018-01-17 0.400 1.840
2017-11-06 0.360 1.558
2017-10-18 0.360 1.594
2017-07-19 0.360 1.731
2017-05-09 0.360 1.741
2017-04-19 0.360 1.753
2017-01-18 0.360 1.733
2016-10-19 0.320 1.910
2016-07-21 0.320 2.107
2016-05-12 0.320 2.246
2016-04-20 0.320 2.232
2016-03-16 0.320 2.204
2016-01-20 0.320 2.404
2015-11-12 0.280 2.042
2015-10-21 0.280 2.118
2015-07-22 0.280 2.292
2015-05-13 0.280 2.285
2015-04-22 0.280 2.315
2015-01-22 0.280 2.416
2014-10-22 0.240 2.196
2014-07-16 0.240 2.248
2014-04-16 0.240 2.214
2014-01-22 0.240 2.188
2013-10-16 0.240 2.326
2013-07-17 0.240 2.294
2013-04-17 0.200 2.163
2013-01-16 0.200 2.217
2012-10-17 0.160 1.892
2012-07-12 0.160 1.914
2012-04-18 0.160 1.994
2012-01-18 0.160 2.115
2011-10-19 0.160 2.624
2011-07-20 0.160 2.680
2011-04-20 0.160 2.313
2011-01-19 0.160 2.460
2010-10-20 0.160 3.017
2010-07-22 0.160 2.965
2010-04-21 0.160 2.604
2010-01-21 0.160 2.575
2009-10-21 0.160 2.625
2009-07-29 0.160 2.527
2009-04-22 0.320 4.295
2009-01-21 0.320 5.124
2008-10-22 0.320 4.355
2008-07-30 0.320 3.058

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Community's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Community's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Community afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Community has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FCCO Management

 What is the CEO of First Community's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Crapps
COMPENSATION $706,641
AGE 60
TENURE AS CEO 25.5 years
CEO Bio

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 First Community Bank NA at First Community Corporation since 1994. From 1985 to 1994, Mr. Crapps worked for Republic National Bank in Columbia and served as its president and Chief Executive Officer. In his career, he is responsible for virtually all aspects of banking, including branches, commercial banking, operations, credit administration, accounting, human resources and compliance. He began his banking career with South Carolina National Bank in 1980 and by the time he changed jobs in 1985 he served as Vice President and senior commercial lender in a regional office of that bank. Mr. Crapps serves as Chairman of the South Carolina Bankers Association. He served as the Chairman of Lexington Chamber of Commerce. He serves as a Directors of the Independent Banks of South Carolina. Mr. Crapps has been a Director of First Community Corporation since 1994 and serves as Director of First Community Bank. He served as Director of Federal Reserve Bank of Richmond since January 1, 2017. He serves as a Director of the American Cancer Society (Treasurer), the Greater Columbia Community Relations Council, the Saluda Shoals Park Foundation, the Lexington Chamber of Commerce. He served as a Director of Republic National Bank since 1993. He is on the Board of Directors of the Central Carolina Community Foundation. Mr. Crapps was selected as the 1997 Young Banker of the Year by the South Carolina Bankers Association. He currently serves his local community as follows: • Clemson University Foundation Board of Directors • Midlands Business Leadership Group Additionally, he is a past member of the Federal Reserve Bank of Richmond’s Community Depository Institutions Advisory Council and past chair of Navigating from Good to Great (Ng2G) Foundation Board of Directors, the Greater Lexington Chamber of Commerce, the Saluda Shoals Park Foundation and the South Atlantic Division of the American Cancer Society (ACS). He received B.S. degree in Economics in 1980 from Clemson University and an M.B.A. degree from the University of South Carolina in 1984. Mr. Crapps is also a Graduate of the LSU Banking School of the South.

CEO Compensation
  • Mike's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mike's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Community management team in years:

13.8
Average Tenure
60
Average Age
  • The average tenure for the First Community management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike Crapps

TITLE
CEO, President & Director
COMPENSATION
$707K
AGE
60
TENURE
25.5 yrs

David Proctor

TITLE
Executive VP & Chief Credit Officer
COMPENSATION
$371K
AGE
62

John Nissen

TITLE
Executive VP and Chief Commercial & Retail Banking Officer
COMPENSATION
$374K
AGE
57

Joe Sawyer

TITLE
Executive VP & CFO
COMPENSATION
$293K
AGE
68
TENURE
24.5 yrs

Tanya Butts

TITLE
Executive VP
AGE
60
TENURE
2.5 yrs

Robin Brown

TITLE
Executive VP and Chief Human Resources & Marketing Officer
COMPENSATION
$259K
AGE
51
TENURE
6.4 yrs

Steve Sligh

TITLE
Consultant
COMPENSATION
$148K
AGE
70
TENURE
13.8 yrs
Board of Directors Tenure

Average tenure and age of the First Community board of directors in years:

14.5
Average Tenure
62
Average Age
  • The average tenure for the First Community board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Mitch Willoughby

TITLE
Chairman of the Board
COMPENSATION
$35K
AGE
71
TENURE
10.2 yrs

Mike Crapps

TITLE
CEO, President & Director
COMPENSATION
$707K
AGE
60
TENURE
25.5 yrs

Tommy Johnson

TITLE
Vice Chairman of the Board
COMPENSATION
$58K
AGE
72
TENURE
14.8 yrs

Thomas Brown

TITLE
Director
COMPENSATION
$27K
AGE
61
TENURE
25.5 yrs

W. Kitchens

TITLE
Director
COMPENSATION
$32K
AGE
57
TENURE
25.5 yrs

Rick Todd

TITLE
Director
COMPENSATION
$31K
AGE
55
TENURE
13.1 yrs

Chimin Chao

TITLE
Director
COMPENSATION
$31K
AGE
63
TENURE
25.5 yrs

Alex Snipe

TITLE
Director
COMPENSATION
$30K
AGE
68
TENURE
14.2 yrs

E. Reynolds

TITLE
Director
COMPENSATION
$30K
AGE
64
TENURE
5.4 yrs

Ed Tarver

TITLE
Director
COMPENSATION
$24K
AGE
59
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by First Community individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Jun 19 Buy Jane Sosebee Individual 14. Jun 19 14. Jun 19 825 $17.93 $14,792
08. Nov 18 Sell David Proctor Individual 08. Nov 18 08. Nov 18 -3,000 $22.60 $-67,800
12. Sep 18 Sell Joseph Sawyer Individual 10. Sep 18 11. Sep 18 -5,113 $25.65 $-130,653
X
Management checks
We assess First Community's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Community has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FCCO News

Simply Wall St News

There's A Lot To Like About First Community Corporation's (NASDAQ:FCCO) Upcoming 0.6% Dividend

First Community's next dividend payment will be US$0.11 per share, and in the last 12 months, the company paid a total of US$0.44 per share. … So we need to check whether the dividend payments are covered, and if earnings are growing. … Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share.

Simply Wall St -

How Should Investors React To First Community Corporation's (NASDAQ:FCCO) CEO Pay?

According to our data, First Community Corporation has a market capitalization of US$148m, and pays its CEO total annual compensation worth US$707k. … It would therefore appear that First Community Corporation pays Mike Crapps more than the median CEO remuneration at companies of a similar size, in the same market. … We compared the total CEO remuneration paid by First Community Corporation, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Could First Community Corporation's (NASDAQ:FCCO) Investor Composition Influence The Stock Price?

View our latest analysis for First Community NasdaqCM:FCCO Ownership Summary, July 8th 2019 What Does The Institutional Ownership Tell Us About First Community? … NasdaqCM:FCCO Income Statement, July 8th 2019 Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. … Insider Ownership Of First Community The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Is First Community Corporation's (NASDAQ:FCCO) High P/E Ratio A Problem For Investors?

Check out our latest analysis for First Community How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for First Community: P/E of 12.97 = $18.8 ÷ $1.45 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … NasdaqCM:FCCO Price Estimation Relative to Market, June 19th 2019 Its P/E ratio suggests that First Community shareholders think that in the future it will perform about the same as other companies in its industry classification.

Simply Wall St -

At US$17.69, Is It Time To Put First Community Corporation (NASDAQ:FCCO) On Your Watch List?

First Community Corporation (NASDAQ:FCCO), operating in the financial services industry based in United States, saw significant share price movement during recent months on the NASDAQCM, rising to highs of $21.3 and falling to the lows of $17.54. … According to my valuation model, First Community seems to be fairly priced at around 5.82% above my intrinsic value, which means if you buy First Community today, you’d be paying a relatively reasonable price for it. … FCCO’s future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

How Does First Community Corporation (NASDAQ:FCCO) Fare As A Dividend Stock?

Could First Community Corporation (NASDAQ:FCCO) be an attractive dividend share to own for the long haul? … Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. … Click the interactive chart for our full dividend analysis

Simply Wall St -

What You Should Know About First Community Corporation’s (NASDAQ:FCCO) Risks

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Community’s bottom line. … Today we will analyse First Community’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank. … NasdaqCM:FCCO Historical Debt, April 23rd 2019

Simply Wall St -

Have Insiders Been Selling First Community Corporation (NASDAQ:FCCO) Shares?

So we'll take a look at whether insiders have been buying or selling shares in First Community Corporation (NASDAQ:FCCO). … First Community Insider Transactions Over The Last Year. … In the last year First Community insiders didn't buy any company stock

Simply Wall St -

Update: First Community (NASDAQ:FCCO) Stock Gained 77% In The Last Five Years

To wit, the First Community share price has climbed 77% in five years, easily topping the market return of 51% (ignoring dividends). … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, First Community managed to grow its earnings per share at 14% a year.

Simply Wall St -

Do Directors Own First Community Corporation (NASDAQ:FCCO) Shares?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … I generally like to see some degree of insider ownership, even if only a little. … First Community is not a large company by global standards.

Simply Wall St -

FCCO Company Info

Description

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.

Details
Name: First Community Corporation
FCCO
Exchange: NasdaqCM
Founded: 1995
$147,218,814
7,511,164
Website: http://www.firstcommunitysc.com
Address: First Community Corporation
5455 Sunset Boulevard,
Lexington,
South Carolina, 29072,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM FCCO Common Stock Nasdaq Capital Market US USD 06. Jul 1998
Number of employees
Current staff
Staff numbers
230
First Community employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 23:36
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/18
Last earnings filing: 2019/07/17
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.