First Community (FCCO) Q2 2026 earnings summary

Executive summary

• Announced leadership transition: CEO/President J. Ted Nissen to retire Dec 31, 2026; Vaughan R. Dozier to become CEO and Joseph A. Painter to become President effective Jan 1, 2027.

• Michael Cromer and Trey Werner to become Regional Executives; Mike Crapps remains CEO/President of the holding company.

• Leadership transition began in 2023 and is staged for continuity; Nissen to consult through 2027.

Financial highlights

• Q2 2026 net income: $7.595M, up 46.5% YoY and 38.1% sequentially; adjusted net income (ex-merger): $7.979M, up 48.7% YoY.

• Diluted EPS Q2: $0.80, up 19.4% YoY; adjusted EPS: $0.84, up 21.7% YoY.

• Six-month net income: $13.093M, up 42.6% YoY; adjusted: $14.733M, up 57.4% YoY.

• Total deposits at June 30, 2026: $2.025B; organic deposit growth YTD: $45.5M (5.2% annualized).

• Total loans at June 30, 2026: $1.578B; organic loan growth YTD: $71.6M (11.0% annualized).

Outlook and guidance

• Board expresses confidence in new leadership and expects seamless transition.

• Continued focus on organic growth and capital management.