First Community Corporation, the holding company for First Community Bank, announced today the closing of its acquisition of Signature Bank of Georgia, effective January 8, 2026.  Following completion of the Merger, Signature Bank was merged with and into First Community Bank.

Immediately following the completion of the Merger, the former offices of Signature Bank acquired in the Merger will continue to operate as First Community Bank d/b/a Signature Bank of Georgia until the systems conversion is completed in March 2026. With the addition of Signature Bank, the Company has more than $2.3 billion in assets, $2.1 billion in deposits and customer cash management accounts, and $1.5 billion in loans.  The transaction creates a banking office network of 23 full-service offices and a loan production office spanning the Midlands, Upstate, and Piedmont regions of South Carolina, the Central Savannah River Area region of South Carolina and Georgia, and the Atlanta–Sandy Springs–Roswell, Georgia MSA.   

First Community President and CEO Michael C. "Mike" Crapps commented on the acquisition, "The combination of our banking companies continues our commitment as a community bank focused on local businesses, professionals, and entrepreneurs with the ability and financial strength to serve the banking needs of our communities and enhance shareholder value through operating advantages gained with the merger of our two institutions." Crapps continued, "In addition to traditional deposit and loan products, our bank offers residential mortgage lending, financial planning and investment advisory services, and with this merger, the addition of SBA/USDA lending, with plans to scale these lines of business across all markets."

The deal was valued at approximately $50.0 million as of December 31, 2025.  Signature Bank shareholders will receive 0.6410 shares of the First Community's common stock in exchange for each share of Signature Bank common stock. 

In connection with the closing of the Merger, two additional directors have been appointed to the boards of directors of First Community and First Community Bank. Fred J. "Freddie" Deutsch has joined First Community and First Community Bank as a non-independent director. Mr. Deutsch previously served as Chief Executive Officer of Signature Bank and, following the Merger, also serves as Executive Vice President of First Community Bank and Director of Specialty Business Lending. Jonathan W. "Jon" Been has joined First Community and First Community Bank as an independent director. Mr. Been previously served as Lead Director of Signature Bank.