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FCCO » Topics » SELECTED VALUATION AND PROFITABILITY RATIOS VS. PEERS

This excerpt taken from the FCCO 8-K filed Feb 14, 2005.

SELECTED VALUATION AND PROFITABILITY RATIOS VS. PEERS

P/E LTM           Price/BV          Price/Tang BV      ROAA LTM       ROAE LTM      
FCCO     18.5 x     1.12 x     2.47 x     0.76     7.95    
SE Peer Median   30.3 x   2.11 x   2.38 x   0.75   8.13  

Newly Merged Company Has Excellent Asset Quality that is Better than Peers
First Community Corporation had asset quality at the end of 2004 that overall was better than the majority of its peers. As of December 31, 2004, the Company had NPAs (including other real estate owned and accruing loans that were more than 90 days past due) of $225,000, or 0.05% of assets, compared to $105,000, or 0.05% of total assets, at December 31, 2003. The allowance for loan losses at December 31, 2004 was $2,764,000, or 12.3 times NPAs, at December 31, 2004, versus $1,705,000 at the year-ago date. As a percentage of loans held for investment, the allowance was 1.46% at December 31, 2004. As can be seen from the table to the left, the Company’s asset quality and reserve coverage ratios compare quite favorably to its peer group median.

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