First Community Corporation Completes Acquisition of Signature Bank of Georgia

On January 9, 2026, First Community Corporation (Nasdaq: FCCO) announced that it has successfully completed its acquisition of Signature Bank of Georgia. This strategic merger, effective January 8, marks a significant chapter for both entities, with Signature Bank merging into First Community Bank, the banking arm of First Community Corporation.

Following the merger, the former branches of Signature Bank will continue their operations under the name "First Community Bank d/b/a Signature Bank of Georgia." This arrangement will be in place until a comprehensive systems conversion is anticipated to be finalized by March 2026. The newly integrated organization will boast impressive financial metrics, including over $2.3 billion in total assets, $2.1 billion in deposits, and $1.5 billion in outstanding loans.

The merger translates into a broadened network of banking services, expanding into 23 full-service banking locations along with one loan production office. The reach of the newly merged entity extends across multiple regions including the Midlands, Upstate, and Piedmont regions of South Carolina, as well as the Central Savannah River Area and parts of Georgia, specifically the Atlanta–Sandy Springs–Roswell metropolitan area.

Michael C. "Mike" Crapps, President and CEO of First Community, commented on the merger, stating, "This merger bolsters our commitment to remaining a community bank that prioritizes local businesses and entrepreneurs. It enhances our capacity to meet the banking needs of our clients and strengthen shareholder value through operational efficiencies."

One of the remarkable features of this merger is the planned expansion of services. In addition to the traditional offerings of loans and deposits, the newly merged bank will provide residential mortgage lending, financial planning, and investment advisory services. Notably, there's an upcoming introduction of lending opportunities through SBA and USDA programs, signaling an intent to diversify and scale these offerings among all markets.

Valued at approximately $50 million as of December 31, 2025, the merger structure includes an exchange of shares for Signature Bank shareholders, who will receive 0.6410 shares of First Community's common stock for each share they hold prior to the merger.

Furthermore, the merger has led to the appointment of two new directors to the boards of First Community and First Community Bank. Fred J. "Freddie" Deutsch, formerly the Chief Executive Officer of Signature Bank, takes on the role of Executive Vice President and Director of Specialty Business Lending at First Community Bank. Jonathan W. "Jon" Been has been appointed as an independent director, bringing with him experience as the former Lead Director of Signature Bank.

This merger not only signifies expansion and growth for First Community Corporation but also reflects a commitment to enhancing community banking capabilities amid a rapidly changing financial landscape. It positions the bank to better serve existing and new clients while navigating future opportunities for growth and innovation.

First Community Corporation is optimistic about the future, although it acknowledges potential risks associated with mergers, including integration challenges, market competition, and economic fluctuations. The company emphasizes that forward-looking statements are contingent and that the actual outcomes may diverge based on various factors. Investors and stakeholders are encouraged to stay informed as the integration progresses, with further updates expected as operations align after the merger.

In conclusion, the acquisition of Signature Bank marks a pivotal movement for First Community Corporation, demonstrating a strong commitment to enhancing service delivery, improving operational efficiencies, and sustaining robust community engagement across its service areas. As the integration unfolds, it will be interesting to observe the positive impacts on the local economies it aims to serve.