First Community Bankshares Acquires Signature Bank, Expanding Regional Presence and Service Offerings
- First Community Corporation acquires Signature Bank, increasing total assets to over $2.3 billion and boosting its deposit base significantly.
- The merger expands First Community’s network to 23 locations, enhancing service capabilities across South Carolina and Georgia.
- Leadership changes include two new directors from Signature Bank, aiming to strengthen First Community's service offerings and innovation.
First Community Bankshares Expands Footprint with Signature Bank Acquisition
First Community Corporation, the holding company for First Community Bank, solidifies its presence in the Southeastern banking landscape through the successful acquisition of Signature Bank of Georgia, effective January 8, 2026. This strategic move not only enhances First Community's total assets to over $2.3 billion but also significantly boosts its deposit base to $2.1 billion and its lending portfolio to $1.5 billion. The integration of Signature Bank into First Community Bank will occur under the transitional branding of "First Community Bank d/b/a Signature Bank of Georgia" until a complete systems conversion is finalized in March 2026. This merger marks a significant milestone for First Community, expanding its service capabilities and regional reach.
The acquisition broadens First Community’s banking office network, which now encompasses 23 full-service locations along with a loan production office. The newly acquired footprint extends across the Midlands, Upstate, and Piedmont regions of South Carolina, as well as into the Central Savannah River Area and parts of Georgia, including the bustling Atlanta–Sandy Springs–Roswell metropolitan area. This geographical expansion allows First Community to better serve local businesses, professionals, and entrepreneurs seeking tailored financial solutions. The bank’s President and CEO, Michael C. "Mike" Crapps, emphasizes that the merger underscores First Community’s commitment to enhancing shareholder value while providing operational efficiencies that will benefit its customer base.
In conjunction with the merger, First Community welcomes two new directors to its board: Fred J. "Freddie" Deutsch, former CEO of Signature Bank, now takes on the role of Executive Vice President at First Community Bank, while Jonathan W. "Jon" Been, who served previously as the Lead Director at Signature Bank, joins the board. This infusion of leadership from Signature Bank aims to leverage their expertise in enhancing First Community’s offerings, particularly in the area of SBA/USDA lending services. The merger is expected to foster innovation and growth, positioning First Community Bank as a formidable player in the regional banking sector.
First Community Corporation's acquisition of Signature Bank represents a pivotal step in its growth strategy, reflecting the bank’s dedication to expanding its service offerings and enhancing customer relationships in a competitive market. As the integration unfolds and the brand transition occurs, stakeholders can anticipate a more robust portfolio of services designed to meet the evolving needs of the bank's diverse clientele.