First Community Corporation PFD SER B (FCCTO) delivered a solid Q4 2024 with revenue of $25.33 million, up 15.15% year-over-year and 60.56% quarter-over-quarter, reflecting a favorable mix and pricing/receivables dynamics typical of a niche regional lender. Gross profit reached $15.87 million, yielding a strong gross margin of 75.1%, and operating income of $5.40 million supported by a respectable EBITDA of $5.86 million. Net income of $4.23 million produced a net margin of 21.0% for the quarter, and EPS stood at $0.55, a 27.9% YoY increase and 7.8% QoQ gain.
However, the quarter also highlighted meaningful cash flow and liquidity considerations. Operating cash flow was negative at $3.81 million and free cash flow registered at negative $4.11 million, driven by working capital movements and non-cash items. The balance sheet shows total assets of $1.956 billion against total liabilities of $1.813 billion and a relatively small stockholders’ equity base of $144.5 million, implying limited cushion against liability pressures. The company carried $120.7 million in total debt, with a short-term debt balance of $103.1 million and only a modest long-term debt position of $17.6 million, suggesting a near-term liquidity focus rather than balance sheet expansion.
From a qualitative standpoint, management commentary (where available in this dataset) is not captured in transcript form, and no earnings call transcript was provided. This constrains the ability to validate forward-looking guidance or management’s nuanced commentary on strategy, deposits, loan growth, or expense discipline. Consequently, investors should weigh the strong quarterly profitability and cash reserves against the apparent working-capital and liquidity dynamics, recognizing that FCCTO operates in a capital- and liquidity-sensitive segment of the regional banking landscape.