Company Overview

First Community Corporation is a U.S. bank holding company headquartered in Lexington, South Carolina, operating primarily through its wholly owned banking subsidiary, First Community Bank. The company operates in the regional banking and financial services industry, providing commercial banking, retail banking, mortgage banking, treasury management, and wealth-related financial services to individuals, small businesses, and commercial customers. Its primary revenue drivers include net interest income from lending activities, deposit-related services, mortgage banking income, and fee-based financial products.

The company was founded in 1994 and expanded through a combination of organic growth and selective acquisitions across the southeastern United States. FCCO has positioned itself as a community-focused financial institution emphasizing relationship banking, local market decision-making, and small-to-mid-sized business lending. Its operating model centers on serving growing metropolitan and suburban markets in the Southeast while maintaining localized customer engagement and credit underwriting practices.

Business Operations

FCCO conducts substantially all operations through First Community Bank, which provides a broad range of financial products including commercial real estate loans, commercial and industrial lending, residential mortgages, consumer loans, deposit products, and digital banking services. The company generates most of its revenue from interest earned on loans and investment securities, supplemented by noninterest income from mortgage origination, service charges, interchange fees, and wealth management-related activities. The bank operates a branch-based franchise supported by online and mobile banking infrastructure.

The company’s operations are concentrated primarily in South Carolina and Georgia, with commercial banking activities focused on local businesses, professionals, and consumers. FCCO also maintains specialized banking capabilities in treasury management and mortgage banking. Strategic acquisitions have historically supported market expansion, including prior transactions involving community banking franchises in adjacent southeastern markets. The company maintains regulatory oversight as a bank holding company subject to supervision by U.S. banking regulators and reporting obligations under SEC filings.

Strategic Position & Investments

FCCO’s strategic direction has focused on disciplined loan growth, expansion in higher-growth southeastern markets, and strengthening core deposit relationships. Management has emphasized commercial banking expansion, credit quality management, and operational efficiency while investing in digital banking capabilities to improve customer access and retention. The company has also pursued selective acquisitions to broaden market share and increase scale within community banking markets.

The corporation continues to invest in technology infrastructure supporting mobile banking, electronic payments, cybersecurity, and treasury management services. FCCO’s strategy reflects broader regional banking industry trends emphasizing relationship-driven lending combined with enhanced digital service delivery. Its community banking model differentiates the institution from larger national banks by maintaining localized management structures and customer engagement within its operating regions.

Geographic Footprint

FCCO’s operations are concentrated in the southeastern United States, particularly across South Carolina and portions of Georgia. The company maintains its corporate headquarters in Lexington, South Carolina, with branch and lending operations serving metropolitan and regional markets including Columbia and other growth-oriented communities throughout the region.

Although FCCO does not maintain a significant international operating presence, its regional footprint positions the company within economically expanding southeastern U.S. markets characterized by population growth, small business formation, and commercial development activity. Its banking network is designed to support both consumer and commercial clients within these localized markets while leveraging centralized operational and technology platforms.

Leadership & Governance

FCCO is led by an executive management team with backgrounds in commercial banking, finance, operations, and regional market development. Leadership has consistently emphasized conservative credit management, community banking principles, long-term customer relationships, and measured balance sheet growth. Governance oversight is conducted through the company’s board of directors and executive leadership framework typical of publicly traded U.S. banking institutions.

Key executives include:

• Michael C. Crapps – President and Chief Executive Officer
• William P. Donnelly – Executive Vice President and Chief Financial Officer
• Christopher C. Funderburk – Executive Vice President and Chief Credit Officer
• David A. Tompkins – Executive Vice President and Chief Banking Officer
• Karen C. McFarland – Executive Vice President and Chief Operations Officer