First Community Corporation, the holding company for First Community Bank, closed on its acquisition of Signature Bank of Georgia.
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Signature Bank has now merged with and into First Community Bank, but the former offices of Signature Bank will continue to operate as First Community Bank d/b/a Signature Bank of Georgia until March when the conversion is completed.
With the addition of Signature Bank, the First Community has more than $2.3 billion in assets, $2.1 billion in deposits and customer cash management accounts, and $1.5 billion in loans. Further, the bank will have 23 full-service offices and a loan production office. The territory spans 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.
“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,” First Community President and CEO Michael Crapps said. “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.”…