First Community shows profit
First Community Corp. continues to be one the few South Carolina community bank companies showing a profit. during the current economic downturn
The Lexington, SC-based parent of First Community Bank earned $249,000 during the quarter ended June 30 and has earned more than $400,000 through the first six months of 2009.
A year earlier, First Community’s bottom line showed a loss of $3.5 million during the second quarter, thanks to a one-time charge of $6.2 million related to an investment in Freddie Mac preferred stock.
Total nonperforming assets rose to $7.5 million during the three months ended June 30, compared to $1.6 million a year earlier, according to information filed with the US Securities and Exchange Commission.
Stock in First Community 29 cents to $7.24 a share Thursday.