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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 40GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
11.3%
Sector: 8.5%
Dividend Analysis audit
INCOME
2.17%
Trailing Yield
$2.17
Per $100 Invested
Solid dividend yield for income-focused strategies.
Est. Payout Ratio
33%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, FIRST COMMUNITY CORP /SC/ (FCCO) receives a "Hold" rating with a composite score of 48.6/100, ranked #545 out of 4446 stocks. Key factor scores: Quality 40/100, Value 49/100, Momentum 53/100. This is quantitative analysis only — not investment advice.
FIRST COMMUNITY CORP /SC/ (FCCO) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does FIRST COMMUNITY CORP /SC/ Do?
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 Commercial and Retail Banking, Mortgage Banking, and Investment Advisory and Non-Deposit segments. Its deposit products include checking, NOW, savings, and individual retirement accounts; and demand deposits, 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 online banking, internet banking, cash management, safe deposit boxes, travelers 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; investment advisory services; and insurance services. It operates 21 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 and Columbia County, Georgia. The company was incorporated in 1994 and is headquartered in Lexington, South Carolina. FIRST COMMUNITY CORP /SC/ (FCCO) is classified as a micro-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Michael C. Crapps and employs approximately 250 people. With a market capitalization of $275M, FCCO is one of the notable companies in the Financials sector.
FIRST COMMUNITY CORP /SC/ (FCCO) Stock Rating — Hold (April 2026)
As of April 2026, FIRST COMMUNITY CORP /SC/ receives a Hold rating with a composite score of 48.6/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.FCCO ranks #545 out of 4,446 stocks in our coverage universe. Within the Financials sector, FIRST COMMUNITY CORP /SC/ ranks #172 of 891 stocks, placing it in the top quartile of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
FCCO Stock Price and 52-Week Range
FIRST COMMUNITY CORP /SC/ (FCCO) currently trades at $30.96. The stock lost $0.37 (1.2%) in the most recent trading session. The 52-week high for FCCO is $31.50, which means the stock is currently trading -1.7% from its annual peak. The 52-week low is $19.46, putting the stock 59.1% above its annual trough. Recent trading volume was 85K shares, suggesting relatively thin trading activity.
Is FCCO Overvalued or Undervalued? — Valuation Analysis
FIRST COMMUNITY CORP /SC/ (FCCO) carries a value factor score of 49/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 15.39x, compared to the Financials sector average of 14.88x — a premium of 3%. The price-to-book ratio stands at 1.74x, versus the sector average of 1.22x. The price-to-sales ratio is 306.42x, compared to 0.90x for the average Financials stock. On an enterprise value basis, FCCO trades at 11.96x EV/EBITDA, versus 3.26x for the sector.
Overall, FCCO's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
FIRST COMMUNITY CORP /SC/ Profitability — ROE, Margins, and Quality Score
FIRST COMMUNITY CORP /SC/ (FCCO) earns a quality factor score of 40/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 11.3%, compared to the Financials sector average of 8.5%, which is within a healthy range. Return on assets (ROA) comes in at 0.9% versus the sector average of 1.2%.
On a margin basis, FIRST COMMUNITY CORP /SC/ reports gross margins of 0.0%. The operating margin is 2558.9% (sector: 21.8%). Net profit margin stands at 1988.5%, versus 17.7% for the average Financials stock. Revenue growth is running at 3.4% on a trailing basis, compared to 9.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
FCCO Debt, Balance Sheet, and Financial Health
FIRST COMMUNITY CORP /SC/ has a debt-to-equity ratio of 1179.0%, compared to the Financials sector average of 121.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.08x, suggesting adequate working capital coverage. Total debt on the balance sheet is $115M. Cash and equivalents stand at $30M.
FCCO has a beta of 0.75, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for FIRST COMMUNITY CORP /SC/ is 88/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
FIRST COMMUNITY CORP /SC/ Revenue and Earnings History — Quarterly Trend
In TTM 2026, FIRST COMMUNITY CORP /SC/ reported revenue of $916,000 and earnings per share (EPS) of $0.68. Net income for the quarter was $18M. Gross margin was 0.0%. Operating income came in at $23M.
In Q3 2025, FIRST COMMUNITY CORP /SC/ reported revenue of $243,000 and earnings per share (EPS) of $0.68. Net income for the quarter was $5M. Revenue grew 6.6% year-over-year compared to Q3 2024. Operating income came in at $7M.
In Q2 2025, FIRST COMMUNITY CORP /SC/ reported revenue of $224,000 and earnings per share (EPS) of $0.68. Net income for the quarter was $5M. Revenue grew -4.7% year-over-year compared to Q2 2024. Operating income came in at $7M.
In Q1 2025, FIRST COMMUNITY CORP /SC/ reported revenue of $221,000 and earnings per share (EPS) of $0.52. Net income for the quarter was $4M. Revenue grew -14.7% year-over-year compared to Q1 2024. Operating income came in at $5M.
Over the past 8 quarters, FIRST COMMUNITY CORP /SC/ has demonstrated a growth trajectory, with revenue expanding from $259,000 to $916,000. Investors analyzing FCCO stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
FCCO Dividend Yield and Income Analysis
FIRST COMMUNITY CORP /SC/ (FCCO) currently pays a dividend yield of 2.2%. At this yield, a $10,000 investment in FCCO stock would generate approximately $$217.00 in annual dividend income. This compares to the Financials sector average dividend yield of 2.5%, meaning FCCO yields less than the typical sector peer. With a net margin of 1988.5%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
FCCO Momentum and Technical Analysis Profile
FIRST COMMUNITY CORP /SC/ (FCCO) has a momentum factor score of 53/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 32/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 40/100 reflects moderate short selling activity.
FCCO vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing FCCO against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full FCCO vs S&P 500 (SPY) comparison to assess how FIRST COMMUNITY CORP /SC/ stacks up against the broader market across all factor dimensions.
FCCO Next Earnings Date
No upcoming earnings date has been announced for FIRST COMMUNITY CORP /SC/ (FCCO) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy FCCO? — Investment Thesis Summary
FIRST COMMUNITY CORP /SC/ presents a balanced picture with arguments on both sides. Low volatility (stability score 88/100) reduces downside risk.
In summary, FIRST COMMUNITY CORP /SC/ (FCCO) earns a Hold rating with a composite score of 48.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on FCCO stock.
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Institutional Research Dossier
FIRST COMMUNITY CORP /SC/ (FCCO) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain a Hold rating on First Community Corporation (FCCO). While the company exhibits strong stability and profitability metrics, particularly its operating and net margins, its high valuation multiples and relatively low revenue growth compared to the sector raise concerns. The current valuation appears to price in significant future growth that may be difficult to achieve, given the competitive landscape and FCCO's historical performance.
The primary concern revolves around the disconnect between FCCO's valuation and its growth prospects. While the bank's stability and high margins are attractive, the premium valuation, especially compared to its peers, suggests limited upside potential. Investors should remain cautious until FCCO demonstrates a sustained ability to accelerate revenue growth and justify its current market price.
Business Strategy & Overview
First Community Corporation operates as a community bank, primarily serving small-to-medium sized businesses and individuals in South Carolina and Georgia. The bank's core strategy revolves around providing personalized banking services and building strong customer relationships within its local markets. This approach aims to differentiate FCCO from larger, national banks and foster customer loyalty.
FCCO generates revenue through a combination of net interest income (from loans) and non-interest income (from fees and services). The bank's loan portfolio includes commercial loans, consumer loans, real estate construction and acquisition loans, and mortgage loans. Deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company also offers investment advisory and insurance services, further diversifying its revenue streams.
The bank's strategic positioning focuses on expanding its presence within its existing markets and selectively entering new, adjacent markets. This expansion strategy is executed through a combination of organic growth (opening new branches) and potential acquisitions of smaller community banks. The company's investment advisory and non-deposit segments are designed to enhance customer relationships and generate additional fee income.
FCCO's industry context is characterized by increasing competition from both traditional banks and non-bank financial institutions. The rise of fintech companies and online banking platforms has intensified the competition for deposits and loans. Regulatory compliance and cybersecurity risks also pose significant challenges for community banks like FCCO.
The company's recent financial performance indicates a focus on maintaining profitability and managing expenses. While revenue growth has been modest, the bank has achieved impressive operating and net margins. This suggests a disciplined approach to cost control and efficient operations. However, the relatively low revenue growth compared to the sector average is a concern that needs to be addressed.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
3.4%
Sector: 9.4%
-64% VS SCTR
Economic Moat Analysis
First Community Corporation's economic moat is likely Narrow. While the bank benefits from some degree of customer loyalty and local market presence, its competitive advantages are not substantial enough to create a wide and sustainable moat. The banking industry is highly competitive, and FCCO faces competition from larger national banks, regional banks, and non-bank financial institutions.
One potential source of competitive advantage is the bank's focus on building strong customer relationships. Community banks often excel at providing personalized service and developing a deep understanding of their customers' needs. This can lead to higher customer retention rates and increased cross-selling opportunities. However, this advantage is not unique to FCCO and can be replicated by other community banks.
Switching costs in the banking industry are relatively low, especially with the increasing adoption of online banking and mobile banking platforms. Customers can easily switch banks if they find a better interest rate, lower fees, or more convenient services. This limits FCCO's ability to charge premium prices or retain customers who are dissatisfied with its services.
FCCO's intangible assets, such as its brand reputation and customer relationships, contribute to its competitive advantage. However, these assets are not as strong as those of larger, more established banks with national brands. The bank's cost advantages are also limited, as it does not have the scale economies of larger banks. While the bank's operating and net margins are high, this is likely due to efficient operations rather than a structural cost advantage.
Efficient scale is not a significant factor in FCCO's business. The banking industry is not characterized by natural monopolies or oligopolies. There are many community banks operating in the same markets as FCCO, and the barriers to entry are relatively low. Therefore, FCCO does not benefit from efficient scale advantages.
Financial Health & Profitability
First Community Corporation's financial health presents a mixed picture. The company exhibits strong profitability metrics, particularly its operating and net margins, which significantly exceed the sector averages. However, its revenue growth is lagging behind the sector, and its debt-to-equity ratio is exceptionally high.
The company's revenue growth has been modest in recent years, with a TTM revenue growth of 3.4% compared to the sector average of 9.3%. This suggests that FCCO is struggling to gain market share or expand its business at the same rate as its peers. The quarterly financial history reveals fluctuating revenue figures, indicating a lack of consistent growth momentum.
FCCO's profitability metrics are impressive. The company's operating margin of 2,558.9% and net margin of 1,988.5% are significantly higher than the sector averages of 22.0% and 17.8%, respectively. This indicates that FCCO is highly efficient at managing its expenses and generating profits from its revenue. The ROE of 11.3% is also higher than the sector average of 8.5%, suggesting that FCCO is effectively utilizing its equity to generate returns.
The company's balance sheet is a cause for concern. The debt-to-equity ratio of 1,179.00 is extremely high compared to the sector average of 115.00. This indicates that FCCO is heavily leveraged, which could increase its financial risk and limit its ability to invest in future growth opportunities. The current ratio of 1.08 suggests that the company has sufficient liquidity to meet its short-term obligations, but the high debt level remains a significant concern.
The quarterly financial history reveals a consistent trend of high operating margins. However, the lack of consistent revenue growth and the high debt-to-equity ratio raise questions about the sustainability of the company's financial performance. Investors should closely monitor FCCO's revenue growth and debt levels to assess its long-term financial health.
Valuation Assessment
First Community Corporation's valuation appears stretched relative to its growth prospects and sector peers. The company's P/E ratio of 41.4x is significantly higher than the sector average of 15.5x, suggesting that investors are paying a premium for its earnings. Similarly, the EV/EBITDA ratio of 10.0x is higher than the sector average of 3.5x, indicating that the company is overvalued based on its enterprise value and earnings before interest, taxes, depreciation, and amortization.
The high valuation multiples suggest that the market is pricing in significant future growth for FCCO. However, the company's historical revenue growth has been modest, and its debt-to-equity ratio is high, which could limit its ability to invest in future growth opportunities. Therefore, the current valuation appears to be overly optimistic.
A discounted cash flow (DCF) analysis would be necessary to determine the intrinsic value of FCCO. However, based on the available data, it is likely that the stock is currently trading above its intrinsic value. The high valuation multiples and relatively low growth rate suggest that the stock is overvalued.
Compared to its historical valuation, FCCO's current valuation is also high. The company's P/E ratio has fluctuated in recent years, but it is currently near the upper end of its historical range. This suggests that the stock is more expensive than it has been in the past.
Given the high valuation multiples and relatively low growth rate, we believe that FCCO is currently overvalued. Investors should exercise caution and consider waiting for a more attractive entry point before investing in the stock.
Risk & Uncertainty
First Community Corporation faces several risks and uncertainties that could negatively impact its financial performance and stock price. One of the primary risks is the intense competition in the banking industry. FCCO competes with larger national banks, regional banks, and non-bank financial institutions, all vying for the same customers and market share. This competition could pressure FCCO's interest rates, fees, and profitability.
Another significant risk is the potential for increased regulation. The banking industry is heavily regulated, and changes in regulations could increase FCCO's compliance costs and limit its ability to generate profits. For example, changes in capital requirements or lending regulations could negatively impact FCCO's financial performance.
Credit risk is also a concern for FCCO. The bank's loan portfolio is subject to the risk of borrowers defaulting on their loans. Economic downturns or industry-specific challenges could increase the default rate and negatively impact FCCO's earnings. The company's concentration in the South Carolina and Georgia markets also exposes it to regional economic risks.
Interest rate risk is another important consideration. Changes in interest rates could affect FCCO's net interest margin, which is the difference between the interest income it earns on loans and the interest expense it pays on deposits. Rising interest rates could increase FCCO's funding costs and reduce its profitability.
Finally, cybersecurity risk is a growing concern for all financial institutions. FCCO is vulnerable to cyberattacks that could compromise its data, disrupt its operations, and damage its reputation. The company must invest in robust cybersecurity measures to protect itself from these threats.
Bulls Say / Bears Say
The Bull Case
BULL VIEWFirst Community Corporation's consistently high operating margins demonstrate superior efficiency and profitability compared to its peers, justifying a premium valuation.
BULL VIEWFCCO's strong presence in growing South Carolina and Georgia markets positions it for above-average loan and deposit growth in the coming years.
The Bear Case
BEAR VIEWFirst Community Corporation's high debt-to-equity ratio poses a significant financial risk, limiting its flexibility to navigate economic downturns or pursue growth opportunities.
BEAR VIEWFCCO's revenue growth lags significantly behind the sector average, indicating a lack of competitive advantage and an inability to capitalize on industry tailwinds.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score FCCO and 4,400+ other equities.
FIRST COMMUNITY CORP /SC/ exhibits a 8565% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
0.9%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
2558.9%
Sector: 21.8%
Net Margin
Bottom-line profitability
1988.5%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield2.48%
Yield Delta-13%
Income Projection audit
A $10,000 investment would generate approximately $217 annually in dividends at the current trailing rate.
