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First Community Corporation Exhibit 99.1 News Release For Release October 20 , 2021 9:00 A.M. Contact : ( 803 ) 951-2265 D. Shawn Jordan , EVP & Chief Financial Officer or Robin D. Brown , EVP & Chief Marketing Officer First Community Corporation Announces Record Earnings , Third Quarter Results and Cash Dividend Highlights for Third Quarter of 2021 Net income of $ 4.748 million , an increase of 79.0 % year - over - year and 34.0 % linked quarter . Pre - tax pre - provision earnings of $ 6.115 million , up 41.8 % year - over year and 32.0 % linked quarter . Diluted EPS of $ 0.63 per common share for the quarter and $ 1.53 year - to - date through September 30 , 2021 . Total loans , excluding Paycheck Protection Program or PPP loans , increased during the third quarter by $ 41.3 million , an annualized growth rate of 19.9 % . Pure deposit growth , including customer cash management , during the third quarter of $ 44.7 million , an annualized growth rate of 14.6 % . Investment advisory line of business revenue of $ 1.040 million , an increase of 54.8 % year - over - year and 8.7 % linked quarter . Net interest margin on a tax equivalent basis including PPP loans of 3.47 % , excluding PPP loans 3.08 % . Strong credit quality metrics with non - performing assets ( NPAs ) ratio of 0.10 % , past due ratio of 0.03 % and net loan recovery excluding overdrafts of $ 354 thousand during the third quarter , with a year - to - date net recovery of $ 259 thousand . Cash dividend of $ 0.12 per common share , which is the 79th consecutive quarter of cash dividends paid to common shareholders . Lexington , SC - October 20 , 2021 Today , First Community Corporation ( Nasdaq : FCCO ) , the holding company for First Community Bank , reported net income for the third quarter of 2021 of $ 4.748 million as compared to $ 2.652 million in the third quarter of 2020 , an increase of 79.0 % . Diluted earnings per common share were $ 0.63 for the third quarter of 2021 as compared to $ 0.35 for the third quarter of 2020. On a linked quarter basis , net income increased 34.0 % from $ 3.543 million in the second quarter of 2021 and diluted earnings per common share increased from $ 0.47 . Pre - tax pre - provision earnings or PTPPE in the third quarter of 2021 were $ 6.115 million compared to third quarter of 2020 PTPPE of $ 4.312 million and second quarter 2021 PTPPE of $ 4.632 million , an increase of 41.8 % and 32.0 % respectively . Year - to - date through September 30 , 2021 net income was $ 11.546 million compared to $ 6.663 million during the first nine months of 2020. Diluted earnings per share for the first nine months of 2021 were $ 1.53 , compared to $ 0.89 during the same time period in 2020. Year - to - date through September 30 , 2021 PTPPE were $ 15.070 million compared to $ 11.618 million during the first nine months of 2020 , an increase of 29.7 % .