First Community to acquire Signature Bank of Georgia for $41.6M

First Community (FCCO) and Signature Bank of Georgia jointly announced the signing of a definitive merger agreement, under which First Community has agreed to acquire Signature in an all-stock transaction with a total current value of approximately $41.6M, based on First Community’s closing price of $24.84 per share as of July 11, 2025. The transaction value at the time of the merger may change due to changes in the price of First Community stock. On a pro forma combined basis, the combined company is expected to have approximately $2.3B in total assets, $2B in total deposits, and $1.5B in total loans at closing. The transaction will create a 23-office banking company with locations spanning the Midlands, Aiken, Upstate, and Piedmont Regions of South Carolina, the Augusta, Georgia area, and now the Atlanta-Sandy Springs-Roswell, Georgia MSA. The merger agreement has been unanimously approved by the Board of Directors of each company. Closing of the transaction, which is expected to occur early in the first quarter of 2026, is subject to customary conditions, including regulatory approval and approval by the shareholders of Signature and First Community.