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First Community Corporation Q3 net income $2.652 million

Christian Fernsby ▼ | October 22, 2020
First Community Corporation, the holding company for First Community Bank, reported net income for the third quarter of 2020 of $2.652 million as compared to $2.898 million in the third quarter of 2019.
First Community Corporation
First Community Corporation   Net income for the third quarter was 2020 of $2.652 million
On a linked quarter basis, net income increased 19.6% from $2.217 million in the second quarter of 2020.

Pre-tax pre-provision earnings or PTPPE in the third quarter of 2020 were $4.312 million compared to third quarter of 2019 PTPPE of $3.676 million and second quarter 2020 PTPPE of $3.999 million, an increase of 17.3% and 7.8% respectively.

It should be noted that during the quarter, the company benefited from non recurring Bank Owned Life Insurance (BOLI) income in the amount of $311 thousand and a gain on sale of securities in the amount of $99 thousand.